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Learning about HDFC car loan

A HDFC Car loan comes in very handy when you cannot do without the convenience of a car, yet you don’t have the cash to outright purchase one. It is a great way to get yourself that saloon to do your school runs and weekly shopping, be it a new or used saloon.

What You Get

HDFC car loans are flexible and accessible to virtually anyone. Documentation required is minimal and the processing is done within a neck-snapping 48 hours. The interest rates are very manageable (from 11.25%) which also means manageable EMIs (monthly repayments). It gets even sweeter if you are a HDFC customer (that is, you hold bank account with them). Approval for your loan will be done before the ink dries on your application form. By logging on to HDFC.com, you can use the car loan calculator to determine the size of your EMIs. Finding car finance has never been so simple!

What You Need

You must be between 21 to 65 years of age and provide them with the following documents: your passport and a photocopy of the same, your most recent payslip and a utility bill to show proof of residence. The requirements for a self-employed individual only differ by requiring proof of operation of the business for the past 3 years. You will also need to provide evidence of your creditworthiness. So if your credit history is dodgy, you may not succeed in securing funding for your dream car. Depending on your personal agreement with the bank, you can repay the HDFC car loan in 12 to 60 months.

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