EV Car Loan Fees and Charges

Description of charges EV Car Loan
Documentation charges ₹700 per case (charges not to be refunded in case of case cancellation.)
Premature closure charges (for full payment)


6% of Principal Outstanding for pre-closures within 1 year from 1st EMI
5% of Principal Outstanding for pre-closures within 13-24 months from 1st EMI
3% of Principal Outstanding for pre-closures post 24 months from 1st EMI

 

For loan availed on or after 1st December 2025.
Pre-closure charges will be 5% of the Principal Out standing
 

If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 Lakhs, you will not be charged any premature closure fees if you make a full payment from your own source.
Premature closure charges (for part payment)

5% on the part payment amount in case part prepayment is within 24 months from 1st EMI
3% on the part payment amount in case part prepayment is post 24 months from 1st EMI.
Part payment will be allowed twice only during loan tenure. Part payment is allowed only once a year. At any point of time, part payment will not increase beyond 25% of Principal Outstanding.

 

For loan availed on or after 1st December 2025.
Pre-closure charges will be 5% of the Part Payment amount

 

If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 Lakhs, you will not be charged any premature closure charges if you make a part payment from your own source.
Stamp duty & Other Statutory Charges(non-refundable) As per actuals which are applicable in laws of the state. (Including RTO charges).
Interest on delayed EMI Payment: Interest will be charged on unpaid EMI for the number of days EMI is late. This interest is calculated at loan's contracted rate and will be added to next EMl.
Processing fees (non-refundable)

Up to 0.5% of the loan amount subject to a minimum of ₹3,500 and a maximum of ₹8,000.

 

For loan facilities up to ₹5 Lakh availed by Micro & Small Enterprises subject to URC submission prior to disbursal
Repayment Mode changes charges ₹500 per instance
Registration Certificate (RC) Collection Fees ₹600 per case (To be refunded in case of case cancellation.)
Legal, repossession and incidental charges At actuals
Duplicate no due certificate / NOC ₹250 per instance
Loan rescheduling charges / rebooking charges ₹400
LPG / CNG NOC / Inter State NOC / other special NOC ₹ 200 per NOC (Conversion subject to credit approval)
Bureau charges (only on request) ₹50
Payment return charges ₹450 per instance + GST
Amortisation schedule charges / Repayment schedule charges ₹50 per schedule for physical copy.
Customer can also download the schedule from the link free of cost
Commercial / personal use NOC (conversion subject to credit approval) ₹200 per NOC
Registration Certificate (RC) Collection Fees ₹600 per case (To be refunded in case of case cancellation.)
Rack interest rate 9% onwards depending on loan amount, tenure & CIBIL score
RTO transfer charges At actuals

 

Criteria Credit Norms

Objective 

Special Scheme of funding Electric Vehicles for tenor up to 8 years 

Locations 

Scheme will be applicable for all approved locations in India 

Product Parameters 

Eligible Applicants 

Salaried applicants working in Super Cat A, Cat A and central government employees 

Eligible model 

Electric vehicles 
Premium segment vehicles will not be eligible 

Underwriting parameters 

Minimum FOIR should be 70% 
Bureau/Dedupe has to be a match and good match 
Standard LTV will be offered - 90% ex-showroom 
(considering the higher tenor, we need to ensure customer 
equity in the vehicle) 
Residence ownership proof is mandatory else permanent 
address proof is required. 
Banking - 3 months banking with AQB of 1.5 time of EMI 
Multiplier will be 3 times 
MLB Band should be A and B only 

Max tenure 

8 years 

Minimum income 

5 lakhs 

Stability- Residence 

2 years at current residence. (Not applicable: if residence is 
owned) 

Stability– Job 

2 years 

Other conditions 

CPV as per normal policy 
Salaried employees residing in rented/ company provided 
accommodation need to get CPV conducted at permanent 
address. 
Banking for the last 3 months will be required with no negative 
traits. 
All other credit/documentation as per Normal policy is 
applicable. 
BH series vehicles will not be allowed under this scheme 

Credit Promo 

ALEV8YRS 

Triggers 

Any delinquent RC pending crossing 90+ 
Gross non-starter cross 5% in any month (1st Cheque 
bounce) 

 

Disclaimer: Terms and conditions apply. New Car Loan approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.