HDFC is leading private banking company in India which was found in 1994 and inaugurated by Dr. Manmohan Singh. It bears headquarters in Mumbai and has branches in Bahrain, Hong Kong, Dubai with 76,286 employees. It offers dissimilar products like investment banking, corporate banking, private banking, equity services, credit cards, etc. Services like mobile banking, internet banking, etc. are also provided to the customers through various types of delivery channels for money transfers or repayment of the loan from anywhere in the world. This bank has consistent profits and revenue up to Rs. 9940.7 crores.
Features and Benefits of Car Loans at HDFC Bank:
HDFC bank offers 100% finance up to Rs. 1.5 crores for the multi-utility vehicles or your personal vehicle you desire to buy. You can avail car loan at HDFC up to 6 times your annual income at HDFC with a pliable repayment tenure ranging from 12 months – 7 years. Car Loan at HDFC is approved in less than an hour with minimum and quick documentation process. Unique schemes are available for an account holder at HDFC.
You can also avail loan against your vehicle which must be either 7 years of private usage or 6 years of commercial usage at an interest rate of 14.50% – 17.50%.
In case of pre-owned vehicles, you can avail loan up to 80% of the car value with a maximum of Rs. 50,00,000/- at an interest rate of 14.50% – 17.50% for a loan tenure from 12 months – 60 months.
HDFC Bank – Car Loan Amount:
You can avail 100% of the car value at HDFC Car Loans with maximum loan amount upto Rs. 1.5 crore for purchase of a new car and 80% of the car value with maximum of Rs. 50 lakhs for the pre-owned cars if you are a salaried professional.
HDFC Bank – Rates of Interest:
Car Loans at HDFC Bank come with a rate of interest ranging between 9.50% – 13.75% for new vehicles and 14.50% – 17.50% for the pre-owned vehicles which depends on the vehicle you desire to buy.
HDFC Bank – Repayment of Loans and foreclosures:
- No foreclosure allowed till 6 months from the date of loan disbursal.
- 6% of the principle outstanding amount within 1 year, 5% within 13 – 24 months, 3% post 24 months from the 7th EMI and 1st EMIs respectively are charged as a fore-closure penalty in cases where you plan fore-closure of the loan.
- Part repayment of the loan is allowed twice during the loan tenure after the completion of 12 EMI’s.
- 5% of the principle outstanding amount within 24 months and 3% post 24 months from the 1st
HDFC Bank Personal Loan – Loan tenure:
You can lay back and pay your loan amount during long loan tenure of 12 months – 84 months.
Apply for HDFC Car Loans at Letzbank – Know how:
- You can register yourself at Letzbank and apply for HDFC Car Loan.
- Evaluate car loan offer from a large gamut of partner banks
- Click on the Car Loan EMI Calculator option and plan your own loan including your EMI, ROI, and loan tenure.
- You may also fore-see your loan by making use of tools available on website which will allow you to see various stages of your loan throughout your loan tenure.
- Submit your car loan applications and we will get back to you.
- None of the applicants will be charged any additional fee towards the service fee for the applications submitted online.