Amazing news for HDFC Bank customers! Bank extends this instant auto loan facility in Tier 2, 3 cities

India’s largest private sector lender HDFC Bank today announced ZipDrive Instant Auto Loans to customers across 1,000 cities in India, the bank said in a media release. ZipDrive is HDFC Bank’s instant auto loan disbursal product for customers with pre-approved offer.

The offering is being extended to Tier 2 and 3 cities like Bhimavaram in Andhra Pradesh, Hardoi in Uttar Pradesh, Thalassery in Kerala, and Balasore in Odisha among other places, across India, the release said.

The bank in its release claimed this service to be the fastest online auto loan offering in the country.

“Efforts to curb the spread of Covid19 have changed consumer lifestyles and demand patterns as maintaining social distancing is necessary. With ZipDrive offering, bank customers wishing to avail an auto loan need not visit a branch or any other physical touch points,” the release said.

“This solution gives the customer with a pre-approved loan offer the freedom to avail an auto loan from the safe confines of their homes, through Netbanking or via assistance by our phone banking team,” it further said.

How to avail ZipDrive Instant Auto Loan -

1) o pre-approval documents required.

2) Customers can get their loans disbursed from anywhere, anytime as per their convenience, through net banking or by scanning QR code or through phone banking.

3) Bank customers are given pre-approved loan offers using the bank’s proprietary algorithm and analytics.

4) Customers can select car model, dealer, loan amount within eligible limits and tenure online. They can also opt for On-road funding as much as 100 per cent of the value.

5) Post online submission of applications, loan gets disbursed instantly.

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 “We believe ZipDrive Instant Auto Loans offers a convenient and contactless form of availing auto loans from the Bank at attractive price and terms. We are therefore able to connect with customers at their home and fulfil their requirements, all at a click of a button, on a device of their choice,” Arvind Kapil, Country Head – Retail Lending at HDFC Bank said.