HDFC Bank, India’s leading private sector bank, is set to launch a mega Car Loan Mela in Tamil Nadu from July 5 to July 7, 2023. Over 300 bank branches, in partnership with leading automobile brands and car dealerships, will host the Mela across Tamil Nadu. Car dealers will be present at the branches to showcase their automobile models and will allow customers to take test drives of the vehicles. The Bank would provide on-the-spot loan sanctions to eligible customers.
HDFC Bank provides a host of loans to all customers at affordable interest rates. The Car Loan Mela is envisioned to provide customers easy access to automobile finance, especially in the SURU (semi-urban and rural) locations. The Bank will provide an end-to-end solution for processing loan requests with a variety of repayment configurations and minimal paperwork.For the year ending 31st March 2023, HDFC Bank’s auto loan book size was Rs 1,17,429 crore. Last year, HDFC Bank introduced ‘Xpress Car Loan’ facility, an end-to-end digital car loan journey that enables credit of loan amount in dealers’ accounts in just about half an hour.