Get A Sure Chance to Drive your Favourite Car Via HDFC Car Loan Apply Online

With several of new car model being launched everyday, there is a temptation of buying the latest one which is loaded with multiple features and are modernly designed. To gratify this desire we need to pay a huge cost. But that is not a problem.

You can easily arrange the funds. How? Through HDFC car loan facility you can avail the loan for the purchase of the car. As soon as you finalize the model just apply online for the car loan. Your application will be processed and once it is approved you can drive home your dream car.

There is a thorough procedure which the bank authorities follow before sanctioning the loan. First of all the eligibility of the candidate is checked. This eligibility is based on the candidate’s earnings age and job stability. Next step is the verification. The applicant has to provide the requisite documents. The eligibility criteria and the list of documents to be provided are mentioned in the following sections.

Check the HDFC Car Loan Eligibility:

The CL facility can be availed by the following-

Salaried Individuals:

• The individual should be of age 21 years & above but below or equal to 60 years
• He/she should have had a job experience of 2 years and worked for at least 1 year with current employer
• The minimum annual income should be ₹ 1,80,000
• Should have telephone/ postpaid mobile

Self – Employed Individuals:

• The minimum age should be 21 years at time of application but less than or equal to 65 years at time of maturity
• The applicant should have been in business for 2 years
• He/she should earn at least ₹ 60,000 annually if wanting to buy a standard car and ₹ 1,50,000 for mid- sized and premium cars
• The applicant must have telephone/ postpaid mobile connection at residence

Partnership Firms:

• The applicant must be engaged in the business of manufacturing, trading and services
• The minimum annual turnover should be ₹ 4,50,000
• The per annum income of ₹ 60,000 for buying a standard car and ₹ 1,50,000 for mid- sized and premium cars is must
• The borrower must have a landline at both office and home

Private Limited Companies:

• The candidate should be an owner of the private company that functions in the field of manufacturing, trading or services
• The applicant must have per annum income of ₹ 60,000 for buying a standard car and ₹ 1,50,000 for mid- sized and premium cars
• He/she should have minimum annual turnover of ₹ 4,50,000
• The applicant must have an operating landline at office

Public Limited Companies:

• The director of a public limited company engaged in the line of manufacturing, trading or services can apply
• Minimum earning of ₹ 60,000 per year if willing to buy a standard car and ₹ 1,50,000 for mid- sized and premium cars is mandatory
• The annual turnover should at least be ₹ 4,50,000
• The candidate should have a landline connection at office

Documents Required: The applicant applying for the loan online has to attach the mentioned documents in order to avail the benefit of the loan.

Identity Proof - ( Applicable only for salaried individuals and sole proprietors )

• Copy of Passport
• PAN Card
• Voters ID Card
• Driving Licence

Address Proof -  

• Ration Card
• Driving Licence
• Voters Card

• Copy of Passport
• Telephone Bill
• Electricity Bill
• Life Insurance Policy

Income Proof-

• For Salaried - Latest salary slip with form 16
• For Self-Employed Individuals – Latest ITR
• For Others -
• Audited balance sheet
• Profit & Loss Account Statement of previous two years
• IT returns of the company of last 2 years
• Bank Statement of last 6 months

How to Apply

The candidates interested in availing the loan from the bank can apply for the same by visiting the nearest bank branch or there is even a much better option that will not only save the efforts but also the time. And this method is to apply online.

HDFC Car Loan Apply Online Procedure:

To apply for the loan online - Login the bank website, select car loan option. You will be redirected to a new page. Fill the application form and click on the submit button. The bank will receive your application and after verification will disburse the loan.