Best Bank For Car Loan With Minimum Documents & Faster Processing?


Thread Starter #1
Joined
Jul 19, 2017
Messages
32
Likes
18
Location
Pune
I had a terrible time dealing with both HDFC Bk and SBI in getting Car Loan.

HDFC - Dealer contact in HDFC says its online processing so no documents needed if pre-approved.
My Branch contact saying even if pre-approved, you will still need to provide a tons of documents etc.

In both cases, processing fees, foreclosure charges etc are all applicable.

SBI - it needs a lot of documents more than HDFC, like employer NOC, Employer letter etc, and couple of branches i have Managers are on leave, so no new loans can be disbursed. kind of autocratic reply.

Still in dilemma.

Any recent experience in detail please.
 
Joined
Aug 9, 2011
Messages
1,994
Likes
344
Location
Noida
Re: Best Bank for Car Loan with Minimum Documents and Faster Processing

Rather than going for best bank.....let your dealer handle your loan as they have contacts and get the work done damn fast.
 
Thread Starter #4
Joined
Jul 19, 2017
Messages
32
Likes
18
Location
Pune
Re: Best Bank for Car Loan with Minimum Documents and Faster Processing

Try Syndicate Bank very easy process.
Thanks.

Rather than going for best bank.....let your dealer handle your loan as they have contacts and get the work done damn fast.
Thanks, I have went through dealer only to both the bank.
They are saying for HDFC Zipdrive, there is no documentation required. Anyone has any experience in that?
 
Joined
Jul 10, 2017
Messages
710
Likes
681
Location
mumbai
My experience with ICICI bank car loan was super smooth and quick. approval within a day.
Month end is the right time to negotiate with bank Exe's as they have their target to achieve. try the bank in which you have your Savings A/c.
All the best[thumbsup]
 
Thread Starter #6
Joined
Jul 19, 2017
Messages
32
Likes
18
Location
Pune
My experience with ICICI bank car loan was super smooth and quick. approval within a day.
Month end is the right time to negotiate with bank Exe's as they have their target to achieve. try the bank in which you have your Savings A/c.
All the best[thumbsup]
Sure. Thanks.
My Savings account is with HDFC.

Anyone has HDFC bank's Pre Approved Zip drive experience? It says its super fast processing.. but not sure how fast it is on the ground.
 
Joined
Mar 19, 2014
Messages
1,032
Likes
1,289
Location
Pune
I have taken the loan from SBI via dealer. They were quick and with less documentation. The pre closure of loan was also hassle free.

The only thing was that i need to take my car to the branch as they take carbon image of VIN in personal.
 
Joined
Oct 1, 2017
Messages
90
Likes
21
Location
Punjab
Every bank is giving some kind of offers like less rate of interest or no file fees due to the festive season. Have you got your loan?
 
Joined
May 21, 2020
Messages
2
Likes
0
Location
Mumbai Maharashtra
I had a great deal with HDFC Bank. With their Zip Drive there was no paperwork required and the loan amount was disbursed/transferred to dealers account within days. Visited the car dealership and paid the margin money and signed the loan agreement leaflet and my car was invoiced on the same day. Pretty much impressed by their online loan processing would recommend if you don't have time for lengthy and rigorous documentation.
 

Top Bottom