What is the minimum age for salaried individuals to get an HDFC Bank New Car Loan?

A person should be at least 21 years old in order to avail a new car loan from HDFC Bank.

What is the minimum income criterion for self-employed individuals with respect to HDFC Bank New Car Loans?

Self-employed individuals should be earning at least Rs.3 lakh on a yearly basis.

What is the minimum income criterion for salaried individuals with respect to HDFC Bank Used Car Loan?

Salaried individuals must be earning at least Rs.2.50 lakh on a yearly basis.

What are the ID proofs that can be submitted by salaried individuals?

Any of the following can be used:.Aadhaar card, PAN card, Passport, Voter's ID, Driving license. .

What are the address proofs that can be submitted?

Passport copy Electricity bill Telephone bill Employer certificate Credit card statement with a copy.

HDFC Bank Car Loan Interest Rates

HDFC Bank Car Loan for new cars begins at an interest rate of 9.40% p.a. For Used Car Loans, HDFC Bank Car Loan Interest Rate begins at 13.75% p.a.

Updated On - 05 Sep 2025

HDFC Bank car loan interest rates for new vehicle loans

Loan Type	Interest Rate (per annum)	Loan Tenure
New Car Loan	9.40% onwards	12 to 84 months
Used Car Loan	13.75% onwards	12 to 60 months

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Overview of HDFC Bank Car Loan

Features	New Car Loan Scheme	Used Car Loan Scheme
Interest Rates	9.40% p.a. onwards (Rack Interest)	13.75% p.a. onwards
Repayment Tenure	Ranges between 12 months and 84 months	Ranges between 12 months and 60 months
Loan Amount	Up to Rs.10 crore	Up to Rs.2.5 crore
Foreclosure Charges	6% of principal outstanding if closed within 1 year 5% of principal outstanding if closed within 13-24 months 3% of principal outstanding if closed after 24 months from the 1st EMI	6% of principal outstanding if closed within 1 year 5% of principal outstanding if closed within 13-24 months from the 1st installment 3% of principal outstanding if closed after 24 months from the 1st EMI

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Factors Affecting HDFC Car Loan Interest Rates

HDFC Bank offers 100% financing on a few select vehicles. The interest rates offered by HDFC Bank are affordable and pocket friendly.

Some of the factors determining the rate of interest you are eligible for have been mentioned below and also get to know Top 10 Banks for Car Loan in India:

Credit Score & History: Higher scores get better rates.
Income & Employment Type: Salaried vs. self-employed.
Vehicle Type & Age: New or used car, fuel type, brand.
Repayment Tenure: Shorter terms may have lower rates.
Loan Amount: Higher amounts may attract preferential rates.
Customer Profile: Existing HDFC Bank customers may get lower rates.

Comparison of Car Loan Interest Rates of Major Banks

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Additional Fees and Charges on HDFC Car Loans

Type of Charge	New Car Loan Scheme	Used/ Car Loan Scheme
Documentation charges per case	Rs.650	Rs.700
Stamp duty charges	At actuals	At actuals
Processing Fees	1.00% of total loan amount subject to min Rs.3,500 and max Rs.9,000	1.00% of total loan amount subject to min Rs.3,500 and max Rs.9,000
NOC charges per instance	Rs.250 per instance	Rs.250 per instance
Loan rebooking charges	Rs.400	Rs.400
CIBIL charges (if requested)	Rs.50	Rs.50

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A good credit score can help you secure lower interest rates on loans and credit cards.

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FAQs on HDFC Bank Car Loan Interest Rates

What is the minimum age for salaried individuals to get an HDFC Bank New Car Loan?
A person should be at least 21 years old in order to avail a new car loan from HDFC Bank.
What is the minimum income criterion for self-employed individuals with respect to HDFC Bank New Car Loans?
Self-employed individuals should be earning at least Rs.3 lakh on a yearly basis.
What is the minimum income criterion for salaried individuals with respect to HDFC Bank Used Car Loan?
Salaried individuals must be earning at least Rs.2.50 lakh on a yearly basis.
What are the ID proofs that can be submitted by salaried individuals?
Any of the following can be used:
Aadhaar card, PAN card, Passport, Voter's ID, Driving license.
What are the address proofs that can be submitted?
1. Passport copy
2. Electricity bill
3. Telephone bill
4. Employer certificate
5. Credit card statement with a copy

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