Overview of Car Loan in Hodal
Hodal, a growing town in Haryana’s Palwal district, offers residents access to car loans for purchasing new or used vehicles. Car loans in Hodal for 2025 provide financing with competitive rates starting at 7.50% p.a. Lenders like HDFC Bank, ICICI Bank, and Axis Bank offer loans up to ₹1 crore with tenures up to 7 years. Loanpao helps Hodal residents compare offers, check eligibility, and apply online for quick disbursal.
Eligibility Criteria for Car Loan in Hodal
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Income | Minimum ₹25,000/month (salaried); ₹3 lakh annual income (self-employed) |
| Employment | Salaried (1 year experience) or self-employed (2 years business continuity) |
| Credit Score | Minimum 650; higher scores improve terms |
| Residence | Valid Hodal address proof |
Documents Required for Car Loan in Hodal
- Identity Proof: Aadhaar, PAN Card, Driving License, Passport, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement (Hodal address).
- Income Proof: Salary slips (last 3 months), bank statements (last 6 months), ITR (last 2 years for self-employed).
- Vehicle Documents: Proforma invoice, vehicle quotation, or registration details (for used cars).
- Photograph: Recent passport-size photograph.
Benefits of Car Loan in Hodal
- Loan amounts up to ₹1 crore for new or used cars.
- Competitive interest rates starting at 7.50% p.a. in 2025.
- Flexible repayment tenures up to 7 years.
- Financing for both new and used cars in Hodal.
- Quick disbursal within 2–5 days post-document verification.
Factors Affecting Car Loan in Hodal
Interest Rate
Rates range from 7.50% to 12% p.a., based on credit score, vehicle type, and lender policies.
Loan Amount
Up to ₹1 crore, depending on vehicle cost and repayment capacity.
Credit Score
A score above 650 ensures better rates; lower scores may increase costs.
Vehicle Type
New cars typically get lower rates; used cars may have higher rates in Hodal.
How to Apply for a Car Loan in Hodal
Follow these steps to apply for a car loan in Hodal through Loanpao:
- Visit loanpao.in and select "Car Loan in Hodal."
- Fill out the online application form with details (name, Hodal address, income).
- Upload required documents (Aadhaar, income proof, vehicle quotation).
- Compare offers from top Hodal lenders like HDFC, ICICI, and Axis.
- Get approval and funds disbursed within 2–5 days in Hodal.
Loan Eligibility for Car Loan in Hodal
Check your eligibility for a car loan in Hodal with Loanpao’s tool:
- Enter your monthly income (minimum ₹25,000).
- Provide your credit score (preferably above 650).
- Specify your employment type (salaried or self-employed).
- Include details of the vehicle (new or used) in Hodal.
Loanpao will assess your eligibility and suggest the best car loan offers in Hodal.
Check Eligibility NowTrack Your Car Loan Application in Hodal
Loanpao provides a seamless tracker for your car loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Hodal.
- Contact Loanpao support for assistance with delays in Hodal.
Car Loan Comparison in Hodal
Compare car loan offers from top lenders in Hodal:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 7.50% p.a. | Up to ₹1 crore | Up to 7 years | 0.5% of loan amount |
| ICICI Bank | 7.75% p.a. | Up to ₹75 lakh | Up to 7 years | 0.75% of loan amount |
| Axis Bank | 8.00% p.a. | Up to ₹50 lakh | Up to 7 years | 1% of loan amount |
Frequently Asked Questions
A minimum monthly income of ₹25,000 is required for a car loan in Hodal.
Car loans in Hodal are disbursed within 2–5 days after document and vehicle verification.
The maximum loan amount is up to ₹1 crore, depending on vehicle cost and repayment capacity.
Yes, car loans in Hodal are available for both new and used cars, subject to vehicle valuation.
Missing an EMI may incur late fees, negatively impact your credit score, and risk vehicle repossession.