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Customers can now avail Car Loans in 30 minutes from THIS bank, Read Here

When e-commerce websites are thriving with a 10-minute food delivery service, HDFC Bank has come up with Xpress Car Loans which promises customers to process car loans within 30 minutes online. One of the largest private banks in the country claims to be the industry’s first bank to do so.

In a statement, the bank said it is looking forward to giving car loans in 30 minutes. After home loans, car loans are the second biggest feature that customers opt for. Usually, HDFC Bank used to take 48 to 72 hours to process car loans for its customers.

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The bank said that through this Xpress Car Loans service, it will hand out Rs 10,000 – Rs 15,000 crore of car loans in FY23 without any physical presence, a senior company executive said to Economic Times.

HDFC is also planning to do the same for 2 wheeler loans.  “We believe it’s a game-changer for the industry at large,” Arvind Kapil, country head, retail assets, at HDFC Bank, told a news portal, he added that this service will simplify the process of availing loans, especially in semi-urban and rural areas.

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