HDFC Bank, India’s leading private sector bank, today announcedn the launch of a large ‘Car-loan Mela’ drive across Madhya Pradesh, Chhattisgarh, Rajasthan, and several parts of Maharashtra including Vidarbha. Over 400+ branches, will host the loan drive on April 15, 2023,where car dealers can showcase their automobile models and the bank will provide loans on the spot. HDFC Bank has partnered with leading automobile brands and regional dealerships for this. The ‘Car-loan Mela’ will be open to both customers and non-customers visiting the branches. They can view the cars on display and avail credit.
HDFC Bankprovides a host of loans to its customers at affordable interest rates. The ‘Car-
loan Mela’ drive is envisioned to provide customers an 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.
HDFC Bank maintained its leadership in the auto loan segment in FY 21-22 with loan disbursements crossing Rsone lakh crore. Last year, HDFC Bank introduced ‘Xpress Car Loan’ facility, a state-of-the-art digital API platform that helps credit loans to the accounts of the dealers in about 30 minutes.