HDFC Bank will launch a ‘car loan mela’ in UPHDFC Bank bullish on UP auto loan market

EP Bureau

HDFC Bank, India’s leading private sector banker, will launch a mega ‘car loan mela’ in Uttar Pradesh next week.

Over 600 HDFC Bank branches will participate in the drive to be rolled out pan UP on Sep 11.

The Bank has partnered with leading automobile brands and regional dealerships for the campaign.

The car dealers will be able to showcase latest automobile models at the Bank’s branches in multiple locations to offer customers a first-hand experience.

The mela aims to enhance visibility of auto loans and make them more accessible in the targeted regions. The participating branches will showcase a select set of cars, along with enquiry desks.

Customers visiting the branches can check the cars, browse through auto loan options, and even book a car at the while the bank can offer on-the-spot loan sanctions, according to a press release.

HDFC Bank has one of largest loan portfolios in the auto-loan segment. As on June 30, 2023, auto-loan advances stood at more than Rs 1.21 trillion.

Last year, HDFC Bank introduced ‘Xpress Car Loan’ facility which enabled loans to be credited to the dealer’s account in about 30 minutes.

Social media conundrum!

Xpress Car Loan has evolved into India’s single largest digital loan platform for origination and disbursement with over 50,000 happy customers.

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