Owning a car can make travelling comfortable and convenient. You can travel on your own time and need not follow public transportation schedules. But with the ever-increasing prices of vehicles, buying a car entirely with cash can reduce your savings considerably. Instead of using up your savings, you can avail of an Xpress Car Loan with HDFC Bank and obtain the funds to bring home your dream car. Let us learn more about Xpress Car Loans and their many benefits in this article.
What is Xpress Car Loan?
HDFC Bank Xpress Car Loan is a first-of-its-kind online and digital Car Loan facility. It enables you to apply for the loan online with minimal documentation. One of the most significant advantages of Xpress Car Loans is that you can get 90% financing for many cars and a maximum loan amount of up to ₹20 lakhs. You can repay your loan comfortably in pocket-friendly EMIs in tenures lasting up to 7 years.
Xpress Car Loan – Features and Benefits
Here is a quick look at the features and advantages of Xpress Car Loans.
Entirely digital 3-step process
With Xpress Car Loans, you can complete the entire loan application process online in just three easy steps, that too from the comfort of your home. You can check your loan eligibility, fill out the application form, and submit the required documents online in minutes. All this means that you can complete the entire loan process within 30 minutes.
Quick disbursal of funds
Unlike traditional car loans that may take several days or even weeks to process, Xpress Car Loan benefits like rapid disbursal of funds ensure that you don’t have to wait for a long time to get behind the wheel. The bank also disburses the funds directly to the car dealer, and keeps you informed at every stage.
Easy eligibility criteria
To make the facility available to anyone who needs it, HDFC Bank offers Xpress Car Loans to existing HDFC Bank and non-HDFC Bank customers. The bank has set simple and basic eligibility criteria to ensure that everyone from salaried professionals and self-employed individuals, to business owners and others can apply for the loan conveniently.
Read more about the Xpress Car Loan eligibility by clicking here.
Simple documentation requirements
The list of Xpress car loan advantages also includes a quick and easy documentation process. You just need to provide scanned copies of your ID, address, and income proof documents along with your duly-filled online loan application form. Do note that the bank may ask for additional documents if you need funds exceeding your loan amount eligibility. Additionally, you must comply with some basic, post-disbursal documentation as stated by the bank.
90% Financing and High Loan Amounts
Among the many HDFC Bank Auto Loan Benefits is the facility for 90% financing on the on road funding of select vehicles where RTO Charges and Motor Insurance can also be financed, based on the value of the car. In general, you can obtain loans starting from ₹1 lakh up to ₹ 20 lakhs by paying a small down payment.
Apply for Xpress Car Loans with HDFC Bank
Visit HDFC Bank to unlock a world of benefits with Xpress Car Loans. You no longer have to postpone your dream of buying the perfect car. Whether you wish to purchase a sedan, a hatchback, an SUV, a MUV, you can now do so easily. Apply for your Xpress Car loan today! Click here to get started.
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Car Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.