HDFC Bank Used Car Loan at a glance
| Feature | HDFC Bank Used Car Loan |
|---|---|
| Product name | HDFC Bank Pre-Owned Car Loan |
| Interest rate | 9.50% - 17.00% (rates given to customers, Apr-Jun 2026; average 13.51%); rack rate from 11.25% |
| Rate type | Not published on the loan provider's website. Ask for it in the Key Fact Statement. |
| Maximum tenure | Not published on the loan provider's website. Ask for it in the Key Fact Statement. |
| How much it funds | Not published on the loan provider's website. Ask for it in the Key Fact Statement. |
| Processing fee | Up to 1% of loan (min Rs 3,500, max Rs 9,000) |
| Pre-closure / prepayment | Full pre-closure: 6% within 1 year, 5% in months 13-24, 3% after 24 months |
Source: hdfc.bank.in, checked 4 October 2026. HDFC Bank publishes the range of rates actually given to customers each quarter. Your rate will sit somewhere in that range depending on your profile.
What the EMI looks like
For a used car loan of ₹4 lakh over 4 years, here is what HDFC Bank's published rates mean in rupees:
| Rate a year | Monthly EMI | Total interest |
|---|---|---|
| 9.5% (lowest published) | ₹10,049 | ₹82,364 |
| 17% (highest published) | ₹11,542 | ₹1,54,017 |
The gap between the two ends of the range is ₹71,653 over the loan, which is why your credit score and the loan provider's assessment of you matter so much.
Try your own amount and tenure in the Car Loan EMI calculator.
HDFC Bank Used Car Loan EMI for ₹5, ₹10, ₹15 and ₹20 lakh
The table shows the monthly EMI at 9.5% a year, the lowest rate published for this loan on the table above. Most borrowers are offered a rate somewhere in the published range, so treat these as the best case and check your own rate in the sanction letter.
| Loan amount | 3 years | 5 years |
|---|---|---|
| ₹5 lakh | ₹16,016 | ₹10,501 |
| ₹10 lakh | ₹32,033 | ₹21,002 |
| ₹15 lakh | ₹48,049 | ₹31,503 |
| ₹20 lakh | ₹64,066 | ₹42,004 |
Reducing-balance method. Processing fees, GST and insurance are extra. Use the EMI calculator to try your own amount, rate and tenure.
HDFC Bank vs other loan providers for used car loans
Published figures from each loan provider's own website. Some loan providers publish a starting rate, some a range actually given to customers, and some only a maximum, so read the column with care and compare final offers on the APR in the Key Fact Statement.
| Loan provider | Published rate | Max tenure | Type |
|---|---|---|---|
| Mahindra Finance | 8% - 25% p.a. | 5 years | NBFC |
| Punjab National Bank | From 9.45% floating / 10.45% fixed | 60 months | public sector bank |
| HDFC Bank | 9.50% - 17.00% | — | private sector bank |
| ICICI Bank | From 9.75%; Q1 FY27 disbursed range 9.75% - 16.… | Up to 84 months | private sector bank |
| Bajaj Finance | 10% - 18.25% p.a. | 12-84 months | NBFC |
| Federal Bank | 10.15% - 14.00% | 60 months | private sector bank |
| Bank of Baroda | Floating 10.20% - 12.95%; fixed 11.90% - 14.65% | 60 months | public sector bank |
| SBI | 10.45% - 15.60% | Up to 5 years | public sector bank |
| Tata Capital | From 10.49% p.a. | 72 months | NBFC |
| Hero FinCorp | 11.5% - 26% p.a. | 60 months | NBFC |
| Union Bank of India | 11.60% - 11.70% | — | public sector bank |
| IDFC FIRST Bank | From 11.99% | 7 years | private sector bank |
| Chola | 15% - 28% p.a. | 5 years | NBFC |
| Axis Bank | — | Up to 60 months | private sector bank |
| Canara Bank | — | 60 months | public sector bank |
| IndusInd Bank | — | 84 months* | private sector bank |
| TVS Credit | Up to 30% p.a. | 12-60 months | NBFC |
What kind of loan provider HDFC Bank is
HDFC Bank is a private sector bank. Private banks tend to approve and disburse quickly, often digitally or at the dealership, and cover a wide range of credit profiles. The spread between their lowest and highest rates can be wide, so the rate you are offered depends heavily on your credit score, income and the vehicle.
Large private-sector car financier offering new and pre-owned car, two-wheeler, MSME commercial vehicle and tractor loans with up to 100% funding on select profiles.
Documents you will usually need
Most loan providers ask for a similar set. HDFC Bank may ask for more depending on your profile.
- Identity proof such as Aadhaar, PAN, passport or voter ID
- Address proof such as Aadhaar, utility bill, rent agreement or passport
- PAN card (mandatory)
- Last 3 to 6 months of salary slips and bank statements for salaried applicants
- Last 2 years of ITR with computation, and 6 to 12 months of bank statements for self-employed applicants
- Proforma invoice or quotation from the dealer for a new car, or seller details for a used car
- Passport-size photographs and a signed application form
Before you sign with HDFC Bank
- Get the Key Fact Statement (KFS). RBI requires loan providers to give you a KFS before you sign, showing the interest rate, all fees, the annual percentage rate (APR) and the total amount you will repay.
- Compare the APR, not the headline rate. A low rate with a high processing fee can cost more than a slightly higher rate with no fee.
- Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
- Check what is bundled. Insurance, extended warranty or accessories added to the loan raise the amount you pay interest on. You are free to buy insurance elsewhere.
- Make sure the hypothecation is recorded and later removed. The loan provider's name is noted on the registration certificate; after the last EMI, collect the NOC and get it removed at the RTO.
Apply on hdfc.bank.in or at a branch. Never pay anyone an upfront fee to "get a loan approved"; genuine loan providers deduct fees only from the loan itself.
More from HDFC Bank and similar loans
Other vehicle loans from HDFC Bank:
Buying a used car? Read the used car loan guides
A second-hand car changes the rate, the tenure and the paperwork. These guides cover rates by loan provider, car age limits, valuation, down payment and RC transfer.
Compare HDFC Bank with other loan providers
See HDFC Bank's published vehicle loan rates, fees and tenure next to another bank or NBFC.
Frequently asked questions
What is the HDFC Bank used car loan interest rate?
HDFC Bank publishes 9.50% - 17.00% (rates given to customers, Apr-Jun 2026; average 13.51%); rack rate from 11.25% (checked 4 October 2026). Your own rate depends on your credit score, income, loan amount and the vehicle.
What is the maximum tenure for an HDFC Bank used car loan?
The tenure is not published on the website; ask the loan provider. Most used car loans run between one and seven years.
How much of the vehicle cost does HDFC Bank fund?
HDFC Bank does not publish a funding limit for this loan; it depends on your profile and the vehicle.
What processing fee does HDFC Bank charge?
Up to 1% of loan (min Rs 3,500, max Rs 9,000). GST is usually added on top unless stated.
Can I close an HDFC Bank used car loan early?
Full pre-closure: 6% within 1 year, 5% in months 13-24, 3% after 24 months.
Is HDFC Bank regulated?
Yes. HDFC Bank is regulated by the Reserve Bank of India as a private sector bank. If a complaint is not resolved by the loan provider within 30 days, you can approach the RBI Integrated Ombudsman.
What is the EMI on a ₹10 lakh HDFC Bank Used Car Loan?
At 9.5% a year, the EMI on a ₹10 lakh loan is about ₹21,002 over 5 years and about ₹32,033 over 3 years. This uses the lowest published rate, so your own EMI may be higher. Processing fees, GST and insurance are extra.
KhatuLoans is not a loan provider and is not paid by the loan providers or brands named here to rank them. Rates, fees and prices change; always confirm with the loan provider and dealer. Read our editorial policy and how we make money.