HDFC Bank car loan interest rate and EMI calculator
HDFC Bank charged 7.60% to 14.00% a year (fixed rate) on new car loans in Apr–Jun 2026. The average rate that it charged in Apr–Jun 2026 was 8.63%. The calculator starts at that rate. The calculator also shows the processing fee, the annual percentage rate (APR) and the foreclosure charge. Verification date: 27 Oct 2026.
HDFC Bank car loan interest rate and charges
| Interest rate | 7.60% to 14.00% a year (rates charged in Apr–Jun 2026; HDFC's rate card says 8.40% onwards, by loan amount, tenure and credit score) |
| Average rate charged | 8.63% (Apr–Jun 2026); lowest 7.60%, highest 14.00% |
| Average APR charged | 8.78% (interest and fees, Apr–Jun 2026) |
| Processing fee | 0.5% of the loan, minimum ₹3,500, maximum ₹8,000, plus a documentation charge of ₹700 + GST |
| Close early / part-payment | Loans taken from 1 Dec 2025: 5% of the principal outstanding to close the loan, and 5% of a part-payment. Part-payment is allowed twice in the loan, once a year, up to 25% of the principal outstanding. (Older loans: 6%, 5% or 3% by age.) |
| Loan amount and tenure | Up to 100% of the on-road price for selected models |
HDFC Bank car loan EMI table
EMI at 8.63% (the average rate that it charged in Apr–Jun 2026). The loan is the on-road price less your down payment.
| Loan | 3 yrs | 4 yrs | 5 yrs | 6 yrs | 7 yrs |
|---|---|---|---|---|---|
| ₹3,00,000 | ₹9,488 | ₹7,413 | ₹6,174 | ₹5,353 | ₹4,771 |
| ₹5,00,000 | ₹15,814 | ₹12,355 | ₹10,290 | ₹8,921 | ₹7,951 |
| ₹7,00,000 | ₹22,139 | ₹17,297 | ₹14,405 | ₹12,490 | ₹11,131 |
| ₹8,00,000 | ₹25,302 | ₹19,768 | ₹16,463 | ₹14,274 | ₹12,722 |
| ₹10,00,000 | ₹31,628 | ₹24,710 | ₹20,579 | ₹17,842 | ₹15,902 |
| ₹12,00,000 | ₹37,953 | ₹29,652 | ₹24,695 | ₹21,411 | ₹19,082 |
| ₹15,00,000 | ₹47,442 | ₹37,065 | ₹30,869 | ₹26,764 | ₹23,853 |
| ₹20,00,000 | ₹63,256 | ₹49,419 | ₹41,158 | ₹35,685 | ₹31,804 |
Cost of the rate on ₹8 lakh for 5 years
APR includes the highest processing fee with GST. It shows the full cost of the loan for each year.
| Rate | EMI | Total interest | APR |
|---|---|---|---|
| Lowest rate (7.60%) | ₹16,068 | ₹1,64,104 | 7.89% |
| Average rate, Apr–Jun 2026 (8.63%) | ₹16,463 | ₹1,87,804 | 8.93% |
| Highest rate (14.00%) | ₹18,615 | ₹3,16,876 | 14.31% |
Foreclosure: cost to close the loan
5-year loan at 8.63%. The charge is on the balance that you repay, and you also pay GST.
| Loan | EMIs paid | Balance | Charge |
|---|---|---|---|
| ₹5,00,000 | 6 | ₹4,59,108 | ₹27,087 (5%) |
| ₹5,00,000 | 18 | ₹3,71,856 | ₹21,940 (5%) |
| ₹5,00,000 | 30 | ₹2,76,769 | ₹16,329 (5%) |
| ₹10,00,000 | 6 | ₹9,18,216 | ₹54,175 (5%) |
| ₹10,00,000 | 18 | ₹7,43,712 | ₹43,879 (5%) |
| ₹10,00,000 | 30 | ₹5,53,538 | ₹32,659 (5%) |
HDFC Bank and other banks
The data comes from the site of each bank. If a bank shows the average rate that it charged, that rate is the most accurate guide to the rate that a usual borrower gets.
| Lender | Rate | Average charged | Processing fee | Close early |
|---|---|---|---|---|
| State Bank of India | 8.55%–9.50% fixed | 8.90% Jul–Sep 2026 | ₹500–₹2,000 flat | 2% in first 2 years, then nil; part-payment nil |
| HDFC Bank | 7.60%–14.00% fixed | 8.63% Apr–Jun 2026 | 0.5% (₹3,500–₹8,000) + ₹700 | 5% (any time) |
| ICICI Bank | 8.00%–11.20% fixed | 8.92% Jul–Sep 2026 | Up to ₹8,500 | 3% / 2%; nil after 24 months |
| Axis Bank | 8.80%–11.70% fixed | Not published | Up to 2% + ₹700 | 5% (any time) |
| Punjab National Bank | 7.90%–10.95% floating | Not published | 0.25% (₹1,000–₹1,500); waived to 31 Dec | Nil (floating) |
| Bank of Baroda | 7.85%–11.30% floating | Not published | ₹1,500 / ₹2,000 flat | Nil (floating) |
| Canara Bank | 7.75%–10.95% floating | Not published | 0.25% (₹1,000–₹5,000); waived to 31 Dec | Nil |
| Union Bank of India | 7.85%–10.25% floating | Not published | ₹1,000 flat | Nil (own funds) |
| Bank of India | 7.85%–8.95% floating | Not published | 0.25% (₹2,500–₹10,000) | Nil (floating, RBI rule) |
Frequently asked questions
What is the HDFC Bank car loan interest rate?
HDFC Bank charged 7.60% to 14.00% a year on new car loans in Apr–Jun 2026. The HDFC rate card shows 8.40% and more, from the loan size, tenure and credit score. The average rate that HDFC Bank charged in Apr–Jun 2026 was 8.63%. The bank sets your rate from your credit score, income, the car and the tenure.
What is the EMI for an ₹8 lakh HDFC Bank car loan?
At 8.63%, the EMI is ₹16,463 for 5 years and ₹12,722 for 7 years. At 7.60%, it is ₹16,068 for 5 years.
What is the processing fee for a HDFC Bank car loan?
0.5% of the loan, minimum ₹3,500, maximum ₹8,000, plus a documentation charge of ₹700. You also pay GST at 18%. On an ₹8 lakh loan, the highest fee with GST is ₹5,546.
Can I prepay a HDFC Bank car loan?
Yes, but the cost is high. For a loan that you got on or after 1 December 2025, HDFC Bank charges 5% of the remaining principal to close the loan. It also charges 5% of a part-payment, plus GST. You can make a part-payment two times in the loan tenure, one time each year, of up to 25% of the remaining principal.
Is the HDFC Bank car loan rate fixed or floating?
HDFC Bank car loans are at a fixed rate: your rate stays the same for the full loan tenure. The RBI rule that prevents prepayment charges applies only to floating-rate loans. Thus, HDFC Bank can charge you to close the loan before the end of the tenure.
Sources
- HDFC Bank: Car Loan fees and charges (October 2026; rates for Apr–Jun 2026). Read on 27 Oct 2026.
Banks frequently change these rates. We examine them each month. Your sanction letter and Key Facts Statement show the rate and charges that you pay. Use the KFS / APR checker to examine them.