Bajaj Finserv vs HDB Financial Services Used Car Loan: Which Is Better in October 2026?
60-Second Verdict
Bajaj Finserv is cheaper by 1.51 to 2.00 percentage points: its rate band of 13.00% to 16.00% starts 2 points below HDB Financial Services (15.00% to 17.51%). Choose HDB Financial Services mainly if you are a self-employed or Tier 2/3 borrower whose profile requires branch-level cash-flow underwriting.
Bajaj Finserv vs HDB Financial Services: Side-by-Side Comparison (October 2026)
| Parameter | Bajaj Finserv | HDB Financial Services |
|---|---|---|
| Interest rate | 13.00% to 16.00% | 15.00% to 17.51% |
| Starting rate | 13.00% | 15.00% |
| Maximum rate | 16.00% | 17.51% |
| Parent group | Bajaj Finance Ltd | HDFC Bank subsidiary (NBFC) |
| Best for | Salaried & prime self-employed NBFC buyers | Self-employed & semi-urban profiles |
Who wins by borrower profile
What the difference costs: on a ₹5 lakh, 5-year loan, Bajaj Finserv's 13.00% versus HDB Financial's 15.00% saves ₹518 a month and ₹31,080 in interest.
| Borrower Profile | Winner | Rate Comparison |
|---|---|---|
| CIBIL 750+, salaried | Bajaj Finserv | 13.00% vs 15.00% |
| CIBIL 700–749, self-employed | Bajaj Finserv | ~14.50% vs ~16.25% |
| Bank-declined file needing HDFC-group NBFC review | HDB Financial Services | 15.00% to 17.51% flexible underwriting |
When to pick Bajaj Finserv
Choose Bajaj Finserv whenever your credit score is 700+ and you have standard banking and income statements.
When to pick HDB Financial Services
Choose HDB Financial Services when you need physical field verification of business income or have been referred from a bank rejection.
When neither Bajaj Finserv nor HDB Financial is your best option — consider Hero FinCorp
Hero FinCorp starts at 12.00% in its Platinum/Gold tier while also offering a Silver tier (15.75%–19.25%) for broader profiles. See Hero FinCorp vs Bajaj Finserv. You can also compare all used car loan options on our 27-lender interactive calculator.
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Frequently Asked Questions (Bajaj Finserv vs HDB Financial)
Is Bajaj Finserv or HDB Financial cheaper for a used car loan?+
Bajaj Finserv is cheaper, with rates from 13.00% to 16.00% compared to HDB Financial Services' 15.00% to 17.51%.
Is HDB Financial Services the same as HDFC Bank?+
No. HDB Financial Services is an NBFC subsidiary of HDFC Bank that serves borrowers with more flexible eligibility criteria at higher interest rates (15.00%–17.51% vs HDFC Bank's 10.76%–12.01%).
How much can I save by picking Bajaj Finserv over HDB Financial?+
On a ₹5 lakh, 5-year loan at each lender's starting rate (13.00% vs 15.00%), you save ₹518 per month and ₹31,080 in total interest.