HDFC Car Loan Eligibility criteria is a set of norms and rules  that are decided by the bank before hand so as to judge the aptness of the applicants. HDFC is one of the finest banks in the country with a wide range of products that help its customers lead a happy and financially secured life. Having a vehicle of one’s own is one of the biggest milestones in an individual’s life. However, not having adequate funding can make you wait endlessly to see this dream come true. To avoid this, HDFC  provides this finance facility to it customers to help them buy their dream vehicle. The bank provides finance to not only new car loan but also pre-owned cars. The fact that this bank has always been keen to provide the unique and the best to fit-in all the needs and desires of its customers make it stand out. Read on to know in depth about this product!

HDFC Car Loan Eligibility

The eligibility criteria is as follows:

 

  • For salaried professionals
  • Age limit: The age limit of the applicant as prescribed by the bank ranges between 21 years to 60 years.
  • Minimum annual income: The minimum annual income of the applicant sought by the bank is ₹ 1.8 Lakhs.
  • Professional experience: The applicant must have a professional experience of at least 2 years along with an experience of at least 1 year with the current employer.
  • Other: The applicant must have a postpaid telephone connection to his/her name. This telephone connection could be at home, office or of mobile of the applicant.
  • For self-employed individuals
  • Age limit: The age limit of the applicant as prescribed by the bank ranges between 21 years to 65 years.
  • Minimum annual income: The minimum annual income of the applicant sought by the bank is ₹ 60,000 to ₹ 1.5 Lakhs.
  • Professional experience: The applicant must have a professional experience of at least 2 years in the same business.
  • Other: The applicant must have a postpaid telephone connection to his/her name. This telephone connection could be at home, office or of mobile of the applicant.

 

HDFC Car Loan Interest Rates

HDFC Car Loan Interest Rates are highly competitive and economical. The bank provides credit at a nominal rate ranging between 11.50% to 13.75%, depending upon the segment of the vehicle.

HDFC Used Car Loan

HDFC Used Car Loan is a unique facility provided by the bank. The bank provides credit facility to its customers for pre-owned vehicles at nominal rates. This facility comes with many benefits. The bank provides credit up to 100% of the value of the vehicle. Not only this, the rate of interest for this facility remains fixed during the tenure. Also, the applicant need not worry about the down payment of the vehicle as this facility allows the applicant to pay the lowest down payment possible. All these benefits make this facility unique and highly competitive.

HDFC Car Loan Status

HDFC Car Loan Status helps the applicant know the status of their credit application. Credit application and approval can sometimes take a long time which can be quite frustrating for the applicant if they need to visit the bank branch for knowing every small detail. This facility makes it convenient for the applicant to be in touch with all the details of application process. This status can be checked by the HDFC Car Loan login ID which allows the access to this status anytime and anywhere. This facility helps make the application process more transparent and flawless.

HDFC Car Loan Statement

HDFC Car Loan Statement is the record of the progress being made over time in the loan repayment over the due course of time. During the entire tenure, all the repayments and defaults are recorded in this statement for the sake of record. The customer can access this statement anytime and anywhere using the unique HDFC Car Loan login ID provided by the bank. This ID helps the customer stay in touch with all the major transactions being done and any progress that is being made in the credit facility.  

HDFC Car Loan Customer Care

HDFC Car Loan Customer Care is a prompt service provided by the bank to help their valued customers with their doubts, queries and grievances. The customers can get in touch with this division through various channels. You can either send them an email regarding your query. You can also get in touch with them through the toll free number provided by the bank. Also, you can visit the nearest bank branch during the office hours to get in touch with their executive and resolve your queries in person. All the necessary information regarding this can be found on the official website of the bank.

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