HDFC Bank To Offer ZipDrive Instant Auto Loans Across 1,000 Cities In India

HDFC Bank today announced its plans to offer ZipDrive Instant Auto Loans to customers across 1,000 cities across India. ZipDrive is HDFC Bank’s instant auto loan disbursal product, exclusively for bank customers with pre-approved offers. The offering is now being extended to Tier 2 and 3 cities, such as Bhimavaram in Andhra Pradesh, Hardoi in Uttar Pradesh, Thalassery in Kerala, and Balasore in Odisha among other places, across India.

ZipDrive is arguably India’s fastest online auto loan offering. With this technology-enabled solution, from the market leader in the auto loans business, auto loans can be availed as fast as within 10 seconds.

Efforts to curb the spread of COVID-19 have changed consumer lifestyles and demand patterns as maintaining social distancing are necessary. With ZipDrive offering, bank customers wishing to avail an auto loan need not visit a branch or any other physical touchpoints. 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.

How to avail ZipDrive Instant Auto Loan

1.No pre-approval documents required.

2. Customers can get their loans disbursed from anywhere, anytime as per their convenience, through Netbanking 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 models, dealers, loan amounts within eligible limits, and tenure online. They can also opt for On-road funding as much as 100% of the value.

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

6. Customers need to submit few post-disbursal documents, such as the RTO set to the bank and take the delivery of car/vehicle.

"Digital platforms will play an increasingly important role as India opens up further, post the lockdown. We are glad to bring ZipDrive instant auto loans to our customers across Tier 2 and 3 towns and cities in the country," said Arvind Kapil, Country Head – Retail Lending, HDFC Bank. “We believe ZipDrive Instant Auto Loans offers a convenient and contactless form of availing auto loans from the Bank at attractive prices and terms. We are therefore able to connect with customers at their home and fulfill their requirements, all at a click of a button, on a device of their choice.”