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  #2  
February 8th, 2016, 09:32 AM
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Join Date: Mar 2012
Re: HDFC Bank Car Loan Interest Rate

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It was established in 1994. It is the second largest bank in India as measured by assets.

New car Loan-

Features

Up to 100% finance
Check Car Loan eligibility in 1 minute. Approval of Car loan in 30 minutes.
Fixed interest rates
No Income Document Scheme
Flexible tenure of up to 7 years

Interest rates and charges-

Description of charges

Foreclosure charges-

No foreclosure allowed within 6 months from date of availing the car loan

6% of Principal Outstanding for preclosures within 1 year from 7th EMI

5% of Principal Outstanding for preclosures within 13-24 months from 1st EMI

3% of Principal Outstanding for preclosures post 24 months from 1st EMI

Part-Payment charges-

Part-payment is allowed subject to completion of 12 months (i.e., Post payment of 12 EMIs)

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 13-24 months from 1st EMI

3% on the part payment amount in case part prepayment is post 24 months from 1st EMI

Late Payment Penalty 2% per month

Processing fees (Non - refundable) -

Up to 2.5 Lakhs: Rs. 2825/-
Over Rs. 2.51 Lakhs up to 4 Lakhs: Rs. 3850/-
Over Rs. 4.01 Lakhs to 5 Lakhs: Rs. 4300/-
Over Rs. 5.01 Lakhs up to 10 Lakhs: Rs. 4650/-
10 Lakhs plus: Rs. 5150/-

Cheque/ ECS swapping charges Rs 500/- Instance

Duplicate no due certificate / NOC Rs 500/- Instance

Commercial / Personal Use NOC (conversion subject to credit approval) Rs. 2250/- per NOC
Collateral Charges Rs.300 per case
Rack interest rate 11.50% to 13.75% depending on the segment of vehicle

Rates offered to customer during the period of Oct'15 to Dec'15
Bank IRR
Product Min IRR Max IRR Avg IRR
AUTO LOAN 9.35% 13.51% 9.94%

Annual Percentage Rate offered to customer during the period of Oct'15 to Dec'15

APR
Product Min APR Max APR Avg APR
AUTO LOAN 9.35% 14.29% 10.14%


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