What are the documents required for HDFC car loan?

What are the documents required for car loan in HDFC?

Proof of identity documents: Aadhar card, passport, pan card or voters ID card etc. Proof of address documents: Aadhar card, passport, telephone or electricity bill, Shop & Establishment Act certificate (for self-employed individuals), among others. Proof of income documents: Bank statement of the last six months.

What is the procedure for car loan in HDFC?

Documents Required for HDFC car loan from Self-employed Applicant

  1. Identity and Address Proof documents of.
  2. Income Proof: Latest Income Tax Return.
  3. Address Proof: Ration card, Driving licence, PAN Card, Voter ID card, passport, Life insurance policy, telephone/electricity bill, etc.
  4. Last 6 months Bank Statement.


What are the documents required to take car loan?

Car Loan Documents for Self-Employed Individuals

Document Requirement
Identity Proof Aadhar card PAN card Passport Voter ID Driving license
Address Proof Aadhar card Passport Voter ID Driving license Ration card Utility bill (telephone, electricity, or water) Life insurance policy
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How can I check my car loan eligibility in HDFC?

Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 65 at the end of the loan tenure. Those who have been in business for a minimum of 2 years.

Can I get car loan without salary slip?

It is very easy in India for any salaried or self-employed person to get a car loan – even without furnishing an income tax return or any other kind of income proof. However, the person needs to have a good credit score to buy either a new or a used car with the help of a car loan.

What car payment can I get on 15000 salary?

Salary of 15000, Am I eligible for Loan? Check here online

Product Salary Min. loan amount
Personal Loan 15000 40000
Home Loan 15000 300000
Car Loan 15000 100000
Credit Card 15000

Can I get 100% car loan?

A car loan where the borrower does not need to make any down payment is known as a zero down payment car loan. In such loans, the bank or the lending institution offers to fund the entire value of the car and hence, these loans are sometimes also referred to as ‘100% Finance’.

How can I get a first time car loan?

7 tips for securing your first auto loan

  1. 7 tips for securing your first auto loan. Make a down payment. …
  2. Make a down payment. …
  3. Budget for your loan. …
  4. Get a co-applicant or cosigner. …
  5. Get preapproved. …
  6. Apply with a full-spectrum lender. …
  7. Build credit first. …
  8. Build credit as you go.
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Which bank is best for car loan?

Compare Best Car Loan Interest Rates in India for 2021

Bank Name Car Loan Interest Rates
Axis Bank Car Loan 8.65% p.a. onwards
Federal Bank Car Loan 8.50% p.a. onwards
SBI Car Loan 7.70% p.a. onwards
ICICI Bank Car Loan 7.90% p.a. onwards

What is the minimum cibil score for car loan?

The minimum CIBIL score for car loans accepted by most banks is 750.

What is the process of car loan?

Once you’ve decided on the car model, the bank as well as the loan amount and tenure, you can begin the application process. You can either visit a branch or apply online by visiting the bank’s page. You will need to submit an income proof, age proof, identity proof and address proof.

Do you need a W2 to buy a car?

Most lenders require you to submit a current pay stub – no more than 30 days old and showing year-to-date salary totals. In most cases, they will want you to be a full-time W2 employee with a minimum net monthly income requirement of $1,250.

How much car loan can I get on 25000 salary?

Most lenders determine the maximum loan amount up to 10 times of your monthly salary. If you earn Rs. 25,000 per month, you may become eligible for up to Rs. 2.5 Lakhs.

How much car loan can I get on 40000 salary?

It is advised to customers that they restrict their car loans to not more than 20 percent of their monthly income. For example, if you make Rs. 40,000 per month, your monthly car loan EMI should not exceed Rs. 8,000.

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How much car loan can I get on 30000 salary?

Table showing EMIs, interest and total amount payout on loan from various banks to buy Tata Tiago

Bank Name Min Loan Amount Est. Max Loan amount
SBI Rs 1 lac Rs 3 lacs
ICICI Bank Rs 1 lac Rs 2.5 lacs
HDFC Bank Rs 1 lac Rs 2.7 lacs
Axis Bank Rs 1 lac Rs 3 lacs
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