HDFC Bank ₹10 Lakh Car Loan EMI 2026 — Monthly Payment
The monthly EMI for a ₹10 Lakh car loan from HDFC Bank at 8.9% interest for 7 years is approximately ₹16,038. The total interest over the loan tenure is ₹3.47 L. HDFC Bank's processing fee is Up to 0.50% of loan amount or ₹3,000, whichever is higher. Use the calculator below to adjust tenure and see prepayment benefits.
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.
₹10.00 L Car Loan EMI — Detailed Breakdown
A 32-year-old IT professional in Mumbai takes a ₹10 Lakh car loan from HDFC Bank at 8.9% for 7 years. The monthly EMI is ₹16,038, with total repayment of ₹13.47 L including ₹3.47 L in interest. HDFC Bank charges Up to 0.50% of loan amount or ₹3,000, whichever is higher as processing fee. On prepayment: no foreclosure charges on floating rate loans for individual borrowers. Fixed rate loans attract 2% on outstanding principal. Making an annual prepayment of ₹30,000 can save approximately ₹41,663 in interest. For a 0.25% rate reduction (to 8.65%), the EMI drops to ₹15,912, saving ₹10,584 over the tenure.
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.
Founding Partner, Tykhe Ventures · Founder, Kompella Technologies
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 the EMI for ₹10 Lakh car loan from HDFC Bank?
At 8.9% for 7 years, the monthly EMI is approximately ₹16,038. Total interest: ₹3.47 L.
What is HDFC Bank's current car loan rate?
HDFC Bank car loan rates start from 8.9% p.a. (May 2026). Rates vary based on loan amount and borrower profile.
What is the processing fee for HDFC Bank car loan?
Up to 0.50% of loan amount or ₹3,000, whichever is higher
Can I prepay ₹10 Lakh loan from HDFC Bank early?
No foreclosure charges on floating rate loans for individual borrowers. Fixed rate loans attract 2% on outstanding principal.
Is HDFC Bank good for car loan?
HDFC Bank is among the top lenders in India. Key advantages: competitive rates starting at 8.9%, 30-year max tenure, and standard processing fees. Compare with 2–3 other banks before deciding.
Compare Other Car Loan Options
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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.