Frequently Asked Questions
Loans
Did You Know You Can Get Additional Cash with Cash on Car?
Understand what Cash On Car, also known as a Top Up on Car Loan, means and how it lets eligible existing Car Loan customers access additional funds against their vehicle.
Synopsis
Understand what Cash On Car, also known as a Top Up on Car Loan, means and how it works.
Explore the key features and benefits of accessing additional funds against your existing Car Loan.
Learn about the factors that may determine your eligibility and the Top Up amount offered.
Overview
Your car can do more than take you places; it may also help you access additional funds. With a Top Up on Car Loan, existing Car Loan customers can access additional funds after completing the required repayment period while continuing to own and use their car.
What Is Cash On Car?
Cash On Car is essentially a Top Up on Car Loan facility that allows eligible existing Car Loan customers to access additional funds against their Car Loan.
The additional amount is offered over and above your existing Car Loan, subject to factors such as eligibility, vehicle value, repayment history, credit assessment, and applicable terms and conditions.
Features and Benefits of a Top Up on Car Loan
HDFC Bank’s Top Up on Car Loan allows eligible existing Car Loan customers to access additional funds against their vehicle.
Here are some of its key features and benefits:
Access a Higher Loan Amount
You can access a loan of up to 180% of your car’s value, subject to the bank’s assessment and applicable terms.
Choose a Flexible Repayment Tenure
You can choose a repayment tenure up to 5 years based on your financial needs and repayment capacity.
Benefit from Competitive Interest Rates
Since the loan is secured against your car, you can benefit from competitive, fixed interest rates calculated on a reducing balance basis.
Access Funds with Minimal Documentation
If you are an existing Car Loan customer with a clear repayment track record of at least nine months, you can access additional funds without submitting income documents.
Enjoy a Quick and Convenient Process
You can access a Top Up on Car Loan digitally by clicking here, making the process quick and convenient.
Access the Facility Anytime
The paperless facility is available 24/7, allowing you to access funds online at your convenience.
Conclusion
A Top Up on Car Loan by HDFC Bank can provide access to additional funds while you continue using your vehicle. Understanding how this facility works can help you evaluate and plan your finances more effectively if the need arises in the future.
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Car Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.
Help us know you better
Which types of content do you find most valuable on our credit card blog? (Select all that apply)
Which types of content do you find most valuable on our credit card blog? (Select all that apply)
A Top Up on Car Loan, also known as Cash on Car allows eligible existing Car Loan customers to access additional funds against their existing Car Loan. The loan amount is offered over and above the current loan, subject to factors such as repayment history, vehicle value, credit assessment, and the bank's eligibility criteria.
Existing Car Loan customers who have completed the required repayment period and maintained a satisfactory repayment track record may be eligible for a Top Up on Car Loan. The bank also considers factors such as the outstanding loan amount, current vehicle value, credit profile, repayment capacity, and applicable terms and conditions before approving the loan.
A Top Up on Car Loan lets eligible customers access additional funds while continuing to own and use their car. Key benefits include competitive fixed interest rates, flexible repayment tenures of up to 84 months, minimal documentation for eligible customers, and a quick digital application process.
