Bring your Dream Car to Your Home with HDFC Car Loan. With the best accessibility, they are working hard to meet your requirement. Before applying for a car loan, you can use an EMI calculator to know the exact principal amount, interest rate, and equated monthly installments over a certain tenure.
Whether you are a Salaried person or self-employed, you have the advantage of buying a car through one of its custom-fit car loans.
Eligibility
- For Salaried individuals
- A person must have 21 years and the maximum age should be 60 years at the end of the loan tenure.
- Employees from private companies and public sectors including central, state, and local bodies, can apply for a loan.
- Minimum earnings should be Rs. 3,00,000 per year, including co-applicant/spouse’s income.
- A person must have a post-paid mobile/telephone.
- A person should have at least a minimum working experience of 2 years and a minimum working experience of 1 year with a current employer.
- Self-Employed Person (Sole Proprietorship)
- Sole proprietors should engage in the business of manufacturing, trading, or services.
- The minimum age should be 21 years and the maximum age should be 65 years at the end of the loan tenure.
- A person must be involved in the business for at least 2 years.
- The minimum earning should be Rs. 3,00,000 per annum.
- Self-Employed Person (Partnership Firms)
- Self-employed partners should be involved in the business of manufacturing, trading, or services.
- minimum turnover should be Rs. 3,00,000 per annum.
- Self-Employed Person (Private Limited Companies)
- A person who owns a private company should be engaged in the business of manufacturing, trading, or services.
- the minimum earning should be Rs. 3,00,000 per annum.
- Self-Employed Person (Public Limited Companies)
- Directors in the public limited company should be engaged in the business of manufacturing, trading, or services.
- Earning should be at least Rs. 3,00,000 per annum
Documentation
A) For Salaried Individuals
- Any of these documents, you need to submit for identity or address proof:
- Driving License
- Passport
- Voter Id card
- Job card sent by NREGA
- Letter sent by the National Population Register including name and address information.
- Aadhar Card
- Recent salary slip for income proof
- Past 6 months of bank statement
B) For Self-Employed Individuals (Sole Proprietorship)
- Any of these documents required:
- Balance sheet audited by CA
- Past 2 years of Profit and Loss account
- Past 2 years of the company’s ITR
- Telephone bill
- Electricity bill
- Sales Tax Certificate
- SSI registered certificate
- Past 6 months of Bank statement
C) For Self-Employed Individuals (Private Limited Companies)
- Any of these documents required for Income proof and address proof:
- Balance Sheet audited by CA
- Past 2 years of profit and loss account
- Past 2 years company’s ITR
- Electricity Bill
- Telephone Bill
- SSI registered certificate
- Sales Tax Certificate
- Past 6 months of Bank statement
D) For Self-Individuals (Public Limited Companies)
- Documents required as income and address proof:
- Balance Sheet audited by CA
- Past 2 years of Profit and Loss account
- Electricity Bill
- Telephone Bill
- SSI registered certificate
- Sales Tax Certificate
- Past 6 months of Bank Statement