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HDFC bank provides a wonderful chance of owning a car. HDFC car loan enables us to get a car easily. HDFC bank provides 80% maximum of the car rate as loan amount. . Bank requires important documents to certify that the applicant is eligible to get the loan. The documents are identity proof, address proof and age proof.

The applicant can submit

  • Passport
  • Photo PAN Card
  • Photo ration card
  • Voter's identity card
  • Driving license
  • Defense identity card
  • Government identity card

The applicant can submit the following documents for address proof. The documents are

  • Passport
  • Ration card
  • Society outgoing bill
  • Telephone (land/mobile) bill
  • Electricity bill
  • Driving license
  • Voter's identity card
  • Life Insurance Policy.

The documents which can be submitted for age proof are

  • Passport
  • Birth certificate
  • valid driving license
  • Voter's identity card
  • School leaving certificate
  • LIC Policy or Premium receipt clearly indicating the applicant's age
  • Letter from the employer stating the age of the employee.

Another important point is that passport only can be used for both personal identities as well for address proof. These are the personal documents to be submitted for loan. The important financial documents are salary slip for employees and salary certificate for self-employed applicants

The interest rate differs based upon the type of car we are purchasing. For new cars, the interest rate is 12.75% and for the old cars, the interest rate is 16%. The used Cars and new cars can be (Ex) Marti , (Ex) Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota. The bank charges service amount. The service charges for late payment of EMI is 2% per month , for payment/Cheque bouncing the charge is Rs 450, for Duplicate statements , it is Rs 100 per page, Maximum amount will be Rs 300and as Processing fee, they charge according to the amount. The different fees are listed here. Up to 2.5 Lacs, they get Rs.2150, for amount in range of 2.51 to 4 lacs, they get Rs.3150 and for 4 Lacs, they charge Rs. 3650. For Cheque swapping, the charges are around Rs 500.