HDFC Bank Car Loan EMI Calculator 2026 — Rates & Monthly Payment
HDFC Bank offers car loans starting at 8.9% p.a. For a ₹10 Lakh car loan over 7 years, the monthly EMI is approximately ₹16,038 with total interest of ₹3.47 L. Use the calculator below to check EMI for your car loan amount.
Last updated: 22 May 2026, 3:15 PM IST
Monthly EMI
₹16,038/month
at 8.9% for 7 years from HDFC Bank
HDFC Bank — Car Loan Details
Interest Rate
From 8.9% p.a. (floating)
Processing Fee
Up to 0.50% of loan amount or ₹3,000, whichever is higher
Prepayment / Foreclosure
No foreclosure charges on floating rate loans for individual borrowers. Fixed rate loans attract 2% on outstanding principal.
Eligibility
Salaried: min age 21, max 65 at maturity. Self-employed: ITR for last 3 years required. Min income ₹10,000/month.
HDFC Bank Car Loan — Rates, Fees & Eligibility
A salaried professional buys a new car worth ₹12 Lakh, paying ₹2 Lakh as down payment and financing ₹10 Lakh through HDFC Bank at 8.9% for 7 years. The monthly EMI is ₹16,038, and the total interest cost is ₹3.47 L. HDFC Bank charges a processing fee of Up to 0.50% of loan amount or ₹3,000, whichever is higher. For new cars, HDFC Bank finances up to 90% of the ex-showroom price. A 5-year tenure would reduce total interest to ₹2.43 L with an EMI of ₹20,710. Used car loan rates from HDFC Bank are typically 1.5–2% higher. Always factor in insurance, registration, and accessory costs when planning the loan.
Data Sources
- RBI — Key Policy Rates (2026) — www.rbi.org.in
- Bank Websites — Latest Interest Rates (May 2026) — www.rbi.org.in
- NHB — Home Loan Guidelines (2025) — nhb.org.in
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Important: This calculator provides estimates based on the inputs and assumptions you provide. Results are mathematical projections, not financial advice or recommendations. Actual outcomes will vary based on market conditions, policy changes, individual circumstances, and factors not captured by this tool. Verify all figures independently and consult qualified professionals before making financial decisions.
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Founding Partner at Tykhe Ventures ($20M AUM, early-stage investing) and Founder of Kompella Technologies, which provides fractional CTO/CPO services to funded startups. NISM XIX-C certified. Built RupayWise because the financial tools available in India were either oversimplified or designed to sell you a product — not help you decide.
Frequently Asked Questions
What is HDFC Bank car loan interest rate?
HDFC Bank car loan rates start from 8.9% p.a. for new cars. Used car loan rates are typically 1.5–2% higher.
What is the EMI for ₹10 Lakh car loan from HDFC Bank?
At 8.9% for 7 years, the EMI is approximately ₹16,038/month. For 5 years: ₹20,710/month.
What is the maximum car loan amount from HDFC Bank?
HDFC Bank finances up to 90% of the ex-showroom price for new cars and 75–80% for used cars. Maximum loan amount depends on income and repayment capacity.
Can I prepay my HDFC Bank car loan?
No foreclosure charges on floating rate loans for individual borrowers. Fixed rate loans attract 2% on outstanding principal. Check your loan agreement for car-loan specific terms.
What documents are needed for HDFC Bank car loan?
PAN, Aadhaar, salary slips (3 months), bank statements (6 months), proforma invoice from dealer, and address proof. Self-employed: ITR for 2 years.
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Disclaimer
This calculator provides estimates based on the interest rates and tenure shown. Actual EMI may vary based on the bank's lending terms, processing fees, and any floating-rate revisions. Bank rates are sourced from public data and may not reflect the latest changes — always confirm with your bank before applying. This is not financial advice. RupayWise is not a loan broker or financial advisor.