HDFC Bank Car Loan 2026
HDFC Bank is one of India’s largest car financiers, with dealer tie-ups across most brands and quick approvals for existing customers. Interest rate 8.15% onwards, loan Up to 100% of on-road price (select vehicles), tenure 12 – 84 months.
Rates as of 18 Aug 2026 (aggregator) · Checked 27 September 2026HDFC Bank Car Loan at a glance
- Low advertised starting rate
- Dealer-point processing and fast disbursal
- Up to 100% on-road funding on select models
- Steep foreclosure charges (3% – 6%)
- Sources disagree on starting rate and fee — insist on the KFS
HDFC Bank car loan interest rate & charges
| Feature | HDFC Bank |
|---|---|
| Interest rate | 8.15% onwards |
| Rate details | 8.15% onwards as compiled by BankBazaar (effective 18 Aug 2026); ClearTax quotes a rack rate of 9.40% onwards. The bank’s own rate page was not machine-readable — ask for your exact offer. |
| Processing fee | Up to 0.5% of loan (min ₹3,500, max ₹8,000) per BankBazaar; ClearTax shows 1% (min ₹3,500, max ₹9,000) — plus GST |
| Loan amount | Up to 100% of on-road price (select vehicles) |
| Tenure | 12 – 84 months |
| Prepayment / foreclosure | Foreclosure 6% of principal outstanding within 12 months, 5% at 13 – 24 months, 3% after 24 months |
| Rate type | Fixed for the loan tenure (typical for private-bank car loans) |
| Minimum income | ₹3 lakh a year (salaried) |
Special schemes & features
Finance for electric cars
Borrow against a car you already own
Source: www.bankbazaar.com, 18 Aug 2026 (aggregator). Rates are indicative; your rate depends on your profile. Always check the Key Facts Statement (KFS) for the APR before signing.
EMI at HDFC Bank’s rates
| Loan amount | EMI @ 8.15% |
|---|---|
| ₹5,00,000 | ₹10,174 |
| ₹8,00,000 | ₹16,279 |
| ₹12,00,000 | ₹24,418 |
Tenure 5 years, reducing-balance method. Total interest on ₹8,00,000 at 8.15%: ₹1,76,716.
HDFC Bank car loan EMI calculator
Eligibility
- Salaried and self-employed individuals
- Minimum income ₹3 lakh a year (salaried)
- Employment and business stability as per bank policy
- Good credit history — the best rates go to high scores
Documents required
- Application form with photographs
- KYC: PAN (mandatory) and Aadhaar / passport / voter ID / driving licence
- Income proof — salaried: last 3 salary slips and Form 16; self-employed: 2 years’ ITR with computation, P&L and balance sheet
- Bank statements for the last 6 months
- Proforma invoice / quotation from the dealer showing on-road price
- Employment or business continuity proof
- After purchase: RC copy with hypothecation, insurance policy naming the bank, and final invoice
How to apply for HDFC Bank Car Loan
- Pick the car and get a quoteAsk the dealer for an itemised on-road quotation — ex-showroom, road tax, registration, insurance, TCS and accessories.
- Compare offersCheck rate, rate type (fixed / floating), processing fee, foreclosure charges and the APR in each lender’s Key Facts Statement.
- ApplyOnline, through the bank app, at a branch or at the dealership; many banks give pre-approved offers to existing customers.
- SanctionThe bank checks your credit report, income and the car’s price, then issues a sanction letter and KFS.
- Sign and pay marginSign the loan agreement, set up NACH/e-mandate for EMIs and pay your down payment to the dealer.
- Disbursal and registrationThe bank pays the dealer directly; the RTO registers the car with the bank’s hypothecation on the RC. Submit the RC and insurance copies to the bank.
HDFC Bank vs other lenders
| Lender | Rate | Processing fee | Tenure | EMI on ₹8,00,000 |
|---|---|---|---|---|
| Canara Bank Car Loan | 7.45% – 15.00% | 0.25% of loan (min ₹1,000, max ₹5,000) + GST; 50% waiver from 1 Jul to 30 Sep 2026 | Up to 84 months (7 years) | ₹16,011 |
| Bank of Baroda Car Loan | 7.60% – 11.30% | Up to ₹10 lakh: ₹1,500 + GST; above ₹10 lakh: ₹2,000 + GST; ₹500 + GST for government / PSU employees | Up to 84 months (7 years) | ₹16,068 |
| PNB Car Loan | 7.60% – 9.70% | 0.25% of loan (min ₹1,000, max ₹1,500) + GST | Up to 84 EMIs (7 years) | ₹16,068 |
| Union Bank of India Car Loan | 7.60% – 10.00% | ₹1,000 + GST (aggregator); often waived for electric vehicles | Up to 84 months (7 years) | ₹16,068 |
| HDFC Bank Car Loan | 8.15% onwards | Up to 0.5% of loan (min ₹3,500, max ₹8,000) per BankBazaar; ClearTax shows 1% (min ₹3,500, max ₹9,000) — plus GST | 12 – 84 months | ₹16,279 |
| ICICI Bank Car Loan | 8.40% onwards | Up to ₹8,500 + GST | 12 – 84 months | ₹16,375 |
| SBI Car Loan | 8.40% – 9.35% | Up to ₹5 lakh: ₹500 (salaried) / ₹750 (others); ₹5 – 10 lakh: ₹1,000 / ₹1,250; above ₹10 lakh: ₹1,500 / ₹2,000 — all + GST | Up to 7 years (Green Car Loan up to 8 years) | ₹16,375 |
| Axis Bank Car Loan | 8.95% – 11.75% | ₹3,500 – ₹5,500 + GST | 12 – 96 months (up to 8 years) | ₹16,587 |
Frequently asked questions
What is the HDFC Bank Car Loan car loan interest rate?
HDFC Bank car loan rates start at 8.15% p.a. (as of 18 Aug 2026 (aggregator)). The rate you get depends on your credit score, income and loan details.
What is the EMI for ₹8,00,000 from HDFC Bank?
At 8.15% for 5 years the EMI is about ₹16,279, with total interest of ₹1,76,716.
What is the processing fee?
HDFC Bank: Up to 0.5% of loan (min ₹3,500, max ₹8,000) per BankBazaar; ClearTax shows 1% (min ₹3,500, max ₹9,000) — plus GST. GST at 18% applies on fees.
What is the maximum tenure?
HDFC Bank: 12 – 84 months.
Can I prepay or foreclose the loan?
HDFC Bank: Foreclosure 6% of principal outstanding within 12 months, 5% at 13 – 24 months, 3% after 24 months.
Is the HDFC Bank car loan rate fixed?
Car loans from private banks such as HDFC Bank are generally fixed-rate, which is why foreclosure charges apply. Check the rate type in your sanction letter and KFS.
Information compiled from the lender’s published rates and reputable aggregators for comparison only. FinancePortal is not affiliated with HDFC Bank Car Loan. Terms change — confirm with the lender.