HDFC Bank New Car Loan
HDFC Bank offers new car loans starting at 8.15% p.a. with financing up to ₹25 lakh and tenures from 12 to 84 months.
Last checked on June 11, 2026. We may earn a commission when you click through.
HDFC Bank New Car Loan
Updated 4 months agoAPR Range
8.15%
Amount
₹100k–₹2.5M
Term
12–84 months
Type
car_finance
You'll be redirected to hdfcbank.com
Our Verdict
HDFC Bank's new car loan options are appealing for those seeking flexible financing.
Best For
It's best for salaried individuals or self-employed persons looking for quick disbursement and a range of loan amounts.
Watch Out
The minimum income requirement of ₹3 lakh may exclude some applicants.
Pros
- Low starting interest rate of 8.15% p.a.
- Quick approval and disbursal in 30 minutes
- Flexible repayment tenure from 12 to 84 months
Cons
- Minimum income requirement of ₹3 lakh per annum
- Not suitable for applicants outside salaried or self-employed categories
Full Review
This loan starts at an interest rate of 8.15% p.a., making it a competitive option for financing new vehicles. With loan amounts available up to ₹25 lakh, it caters well to various budgets. The flexibility in tenures, ranging from 12 to 84 months, allows borrowers to tailor their repayment plans according to their financial situations.
Approval is impressively swift, with loan disbursal possible in as little as 30 minutes. This is particularly beneficial for those who need funds quickly to seize a vehicle purchase opportunity. However, potential borrowers should note the minimum income requirement of ₹3 lakh per annum, which may limit options for lower-income applicants.
Customer service reviews are generally positive, with users appreciating the straightforward application process and quick response times. Compared to competitors like ICICI Bank, which offers similar products, HDFC Bank’s rates and approval times can be more favorable, but always compare terms to ensure you're getting the best deal. For those not meeting the income threshold, exploring alternatives might be necessary.
Who Is This For?
This loan is ideal for salaried employees or self-employed individuals looking for quick financing for a new car.
What Borrowers Say
Customers generally praise the quick processing time and ease of application, although some find the income requirements restrictive.
Summary
HDFC Bank's New Car Loan is a strong option for those who meet the income criteria, offering competitive rates and fast disbursement.
About This Loan
Requirements
- Salaried or self-employed applicant
- Minimum age 21
- Minimum income ₹3 lakh per annum
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