Loan Against Car

Why Choose Us?

Attractive Interest Rate

Digital
Process

Loan Up
To ₹50 lakh

Instant Disbursal

What’s in store for you

Quick & Convenient cash to fulfil any need

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Loan Against Car

Loan Against Car EMI Calculator

Calculate how much you may have to pay every month for your car loan with this interactive car loan EMI calculator

₹
₹ 50,000 ₹ 1,00,00,000
For
Years
Months
12 Months108 Months
%
8 % PA 16 % PA
Your Monthly EMI will be

₹

Amount Payable

₹

Interest Amount

₹

Principle Amount

₹

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Interest rate for Loan Against Car

Starting from 9.70% * p.a.

(*Terms & Conditions Apply)

View Rates

Loan Benefits & Features

Loan Details

Loan Amount 

  • Get up to 150% of your car's value as a loan.  
  • Access the highest loan value in this market segment without needing a vehicle valuation. 
  • Flexible Tenure: Choose a loan tenure from 12 months to 84 months.  

Competitive Rates 

  • Up to 2% interest rates with a vehicle-secured loan.  
  • Enjoy fixed interest rates on reducing balance.
Loan features

 Quick Approval

  • Apply for a Car Loan online directly through 24/7 NetBanking, ATMs or by contacting our PhoneBanker.  

  • For customers who are not using NetBanking, there is an option for instant disbursement within 12 hours.  

  • No income documents are required to secure a Loan Against Car  

  • Existing car finance customers can access instant funds if they have a clear repayment record for 9 months.

Loan features

Quick Disbursal

  • QuickMoney is an instant disbursal product for topping up Car Loans through NetBanking and a wide range of ATMs for existing Car Loan customers. Eligible customers can log in through NetBanking or ATMs to have the loan disbursed to their HDFC Bank Account. The amount is credited in a matter of seconds. To check your eligibility for QuickMoney: 

  • Log into your NetBanking and check the offers tab to avail of QuickMoney.  

  • Enjoy a paperless process.  

  • Access the service 24/7 online.  

  • Disburse your own loan instantly.

Types of Loans

Fees & Charges

  • The HDFC Loan Against Car Rates & Fees are as follows:

Description of Charges Amount to be Paid
Premature Closure Charges (For Full Payment)* 6% of Principal Outstanding for pre-closures within 1 year
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
Premature Closure Charges (For Part Payment)* 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.
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 prepaymet is post 24 months from 1st EMI
Stamp Duty (non-refundable) At actuals
Delayed Instalment payment charge 18% p.a.(1.50% per month) plus applicable government taxes on overdue instalment amount
Processing fees* (non-refundable) Upto 1% of Loan Amount subject to minimum of ₹3500/- and maximum of ₹9000/-
Documentation Charges* ₹650/- per case
Registration Certificate
(RC) Collection Fees		 ₹600/ (to be refunded in case of cancellation)
RTO Transfer Charges At Actuals
Repayment Mode change charge ₹500/- per instance
Loan cancellation Loan cancellation In the event of cancellation, interest charges from date of disbursement till the date of cancellation of loan will be borne by the customer. Processing Fee,Stamp Duty, Documentation, Valuation and RTO charges (Used Car Purchase/Refinance) are non-refundable charges and would not be waived/refunded in case of loan cancellation
Legal, repossession & incidental charges At actuals
Duplicate No Due Certificate/NOC ₹250/- Per Instance
Loan re-schedulement charges/rebooking charges ₹400/-

(If changes are required on RC, then refundable Security Deposit – non-interest bearing of ₹5000 would be required. Will repay post borrowers provide the transferred Registration Certificate to the bank)
LPG/CNG NOC/Other Special NOC ₹200/- per NOC
(Conversion subject to credit approval)
CIBIL Charges (only on request) ₹50/-
Amortisation 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
(Conversion subject to credit approval)
Rack interest rate 13.75% p.a. onwards
Car Valuation/Asset Verification Charges* ₹750/- per case
Payment Return Charges ₹450/- per instance

  • Inter-State NOC
    Refundable Security Deposit (non-interest bearing) of ₹5,000 will be taken. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank. In addition, NOC charge would be ₹500/-.

  • It is also advised that the customers should refrain from and dealings in cash with the Bank's Direct Sales associates. Borrowers should also not make any payments in cash/bearer cheque or kind in connection with the loan, to the executive, dealing with the borrower for purpose of the loan.

  • Note: * Premature closure charges (Full/ Part Payment),Processing Fees, Documentation charges, Payment return charges and Registration Certificate collection fees are exclusive of government taxes. Government Taxes and other levies (as applicable) would be charged additionally. All promotional offers will be null and void in case of third -party payments towards foreclosure and shall attract charges as per standard grid.

  • ** Registration Certificate Collection fees is refundable in case of loan cancellation.

  • For more details on fees and charges, click here.

Loan features

Most Important Terms and Conditions

  • The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.
Loan features

Wondering if you are eligible?

For Salaried

  • Nationality: Indian 
  • Age: 21-60 years
  • Income: ≥ ₹2.5 lakh
  • Employment: 2 years (1 year with the current employer)

For Self Employed

  • Nationality: Indian
  • Age: 31-65 years
  • Income: ≥ ₹2.5 lakh
  • Business period: 3 years in operation.
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Documents required to get you started

Income proof

  • Latest salary slips
  • Latest form 16/latest ITR

Address proof

  • Telephone bill
  • Electricity bill

Sign verification proof

  • Valid Passport Copy
  • Banker's verification
  • Copy of margin money paid to the bank
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More about Loan Against Car

Unlock the value of your car without selling it. With HDFC Bank’s Loan Against Car, you can raise quick funds by leveraging your existing vehicle. Enjoy an instant top-up on your current car loan—up to 150% of the car’s value—through a fast, hassle-free process. It’s a smart way to meet urgent financial needs while continuing to drive your car.

HDFC Bank's Loan Against My Car offers features like high loan amounts up to 100% of the car's value, flexible tenures ranging from 12 to 84 months, and quick processing with minimal documentation. You can enjoy competitive interest rates, easy repayment options, and for select cases, no income proof is required, making it a convenient way to access funds using your car as collateral.

HDFC Bank's Loan Against My Car offers features like high loan amounts up to 100% of the car's value, flexible tenures ranging from 12 to 84 months, and quick processing with minimal documentation. You can enjoy competitive interest rates, easy repayment options, and for select cases, no income proof is required, making it a convenient way to access funds using your car as collateral.

Applying for a Loan Against Car is streamlined with HDFC Bank. You can initiate the process online through Digital Application or visit a physical branch. Prepare necessary documents such as qualification proof, identity, and income documents. HDFC Bank representatives will guide you through the application process.

Frequently Asked Questions

A Loan Against Car is a financial facility that allows you to use your car as collateral to secure a loan. You can get an instant top-up on your existing Car Loan up to 150% of its value.

Yes, you can borrow against any car that meets the eligibility criteria set by HDFC Bank.

You can borrow up to 150% of the original value of your car.

Get loan on your car – fast approval, low interest

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