HDFC Car Loan EMI Calculator

Overview of HDFC Car Loan

When anyone borrows a loan the first thing that comes in one’s mind is the car loan EMI that comes like an uninvited guest that stands on your head every month –however if your EMI is planned a smart manner it barely leaves an impact on your monthly budget. HDFC offers Car Loans that are not just convenient to borrow when you plan to buy a car but also are customer friendly in terms of quick disbursal, paperless transactions, and hassle-free process that the bank offers to customers. So if you planning to borrow a car loan from HDFC bank

Features of HDFC Car Loan

Loan Amount

HDFC offers to its eligible customers, loan upto Rs.12 Crores for purchase of a brand new as well as a pre-owned Car.

Rate of Interest

HDFC offers car loans at the rate of interest of 9.25% to 11.60% per annum.

Loan Tenure

Loan tenure for which one can borrow HDFC Car Loans is upto 84 months.

Processing Fee

A one-time processing fee is charged as a processing fee by the bank for processing your car loan. The amount charged towards the processing fee is Rs.5150/-.

Fore-Closure Charges

Fore-closure charges are the charges that charged by bank in when one wants to the make the entire payment and clear the outstanding loan amount. HDFC charges a fore closure fee of 3 to 6% as fore-closure charges when an individual wants to close the loan in the middle of loan tenure.

To go further with your car loan deal you need to know if you stand eligible in sight of your loan provider. You can make use of Letzbank eligibility to know your eligibility. All you will be asked to do is to furnish your details on an online application form and you will know your eligibility to borrow HDFC Car Loan.

Eligibility for HDFC Car Loan

Age

You should be minimum 21 years of age at the time of submission of your application and maximum 60 years of age at time of loan maturity.

Income

Salaried should have a minimum income of Rs.1,50,000 annually along with 2 years of experience whereas self-employed should have a minimum income of Rs.1,50,000 along with 3 years of business continuity proof.

Once you know that you are eligible to borrow HDFC Car loan you will have to do a further financial planning by determining your EMI in hand, so that you can plan your monthly budget and also fit your EMI within your monthly budget. So to determine your EMI you need to make use of Letzbank Car Loan EMI calculator and follow a 3 – STEP procedure as given below:

  • Enter the Loan Amount
  • Enter the Loan Tenure
  • Enter the Rate of Interest

Once you have entered all your details all you need to do is to enter submit and you will know your monthly EMI. Letzbank Eligibility Calculator Tool helps you to not just determine your EMI but also to view the loan stages, you will also know the amount charged towards the rate of interest on your HDFC Car Loan.

When you plan to buy a car you should compare car loan offer and know the best deal for you. Letzbank offers a comparative statement of car loan products that are offered by the leading banks in the country. Once you compare the loan and shortlist the loan offer you wish to go with, you can apply for your car loan there and then on Letzbank website without visiting the bank and be assured to obtain a quote within 40 minutes of your enquiry. The good news is that Letzbank does not charge any service fee for the customers who apply for any type of loan through Letzbank website.

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