होम  »  बैंकिंग  »  Loans  »  Car Loan  »  Axis Bank Car Loan

Axis Bank Car Loan

Loan Name Interest Rate Processing Fee Loan Amount Tenure
Axis Bank Car Loan 9.25%-11.50%, Fixed Up to Rs 5,500 1,00,000 - 100% of on-road price up to 36 months
Details
Documents Required

  • Identification Proof
  • Duly filled in Application form
  • Recent Photographs
  • Age Proof of the applicant
  • Income Proof of the applicant
  • Bank Statement
  • Signature Verification Proof
  • Residential Proof
  • Pro-Forma Invoice or Rate List
Benefits

  • Avail attractive interest rates on new car loans from Axis Bank
  • Get high-value car loans of up to 100% on-road price for up to 8 years
  • Easily calculate the car loan value
Eligibility

For Salaried Individuals:

  • Minimum age of the applicant should be 21 years
  • Maximum age of the applicant at the time of loan maturity should be 70 years
  • The minimum net annual salary of the applicant should be Rs 2,40,000 per annum
  • Minimum one year of continuous employment
  • Income Eligibility is based on the latest salary slip and Form 16

For Self Employed Individuals:

  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant at the time of loan maturity is 75 years
  • Minimum Net Annual Salary of the applicant should be Rs 1,80,000 per annum for selected car models and Rs 2,00,000 for others.
  • Income eligibility of the applicant is based on the Income Tax Returns
  • The applicant should be employed in the same line of business for a minimum of 3 years prior to applying for a car loan.

For Self – Employed Non-Individuals :

  • Minimum Net Annual Salary of the applicant should be Rs 1,80,000 per annum for selected car models and Rs 2,00,000 for others.
  • Income eligibility of the applicant is based on the Income Tax Returns for the recent 2 years and audited financials of 2 years along with the computation of income.
  • The applicant should be employed in the same line of business for a minimum of 3 years prior to applying for a car loan.

Other Salaried Individuals who are Eligible for Car Loan

  • Permanent employees of State/Central Government
  • Permanent employees of reputed schools/colleges
  • Permanent employees of Public Sector Undertakings
  • Employees of Multi-National Companies
  • Employees of Private and Public Limited Companies
  • Employees of Reputed Schools / Colleges
Other Details

  • Processing Fee ranges between Rs 3,500 – Rs 5,500.
  • Documentation Charges is Rs 500
  • Tenure of the car loan is 36 months (3 years)
  • Penal Interest is 2% per month
  • Foreclosure Charges is 5% of principal outstanding after 180 days from the date of disbursement and 10% of the principal outstanding up to 180 days from the date of disbursement.
Pre Owned Car Loan 8.90% - 17.00% up to 1% of loan amount from Rs 1 lakh onwards up to 5 years
Details
Documents Required

  • Identification Proof
  • Duly filled in application form
  • Age Proof
  • Residential Address Proof
  • Income Proof
  • Bank Statement
  • Photographs
  • Signature Verification Proof
  • RC Copy in case of refinance
  • Car Valuation report

Post Sanction, Pre disbursement Documentation

  • Standing Instructions (SI) request/ Post Dated Cheques / ECS form – Security Cheques are required for SI and ECS
  • Loan agreement which has been duly signed along with RTO set
Benefits

  • Enjoy attractive interest rates starting at 15%
  • Get high value on pre-owned car loans
  • Get complete transfer support
  • Calculate the EMI on car loan easily using the Axis Bank car loan calculator
Eligibility

For Salaried Individuals:

  • Minimum age of the applicant should be 21 years
  • Maximum age of the applicant at the time of loan maturity should be 70 years
  • The minimum net annual salary of the applicant should be Rs 2,40,000 per annum
  • Minimum one year of continuous employment
  • Income Eligibility is based on the latest salary slip and Form 16

For Self Employed Individuals:

  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant at the time of loan maturity is 75 years
  • Minimum Net Annual Salary of the applicant should be Rs 1,80,000 per annum for selected car models and Rs 2,00,000 for others.
  • Income eligibility of the applicant is based on the Income Tax Returns
  • The applicant should be employed in the same line of business for a minimum of 3 years prior to applying for a car loan.

For Self – Employed Non-Individuals:

  • Minimum Net Annual Salary of the applicant should be Rs 1,80,000 per annum for selected car models and Rs 2,00,000 for others.
  • Income eligibility of the applicant is based on the Income Tax Returns for the recent 2 years and audited financials of 2 years along with the computation of income.
  • The applicant should be employed in the same line of business for a minimum of 3 years prior to applying for a car loan.
Other Details

  • Documentation charges are Rs 500
  • The processing fee is Rs 6000 or 1% of loan amount (whichever is lower)
  • The interest rates differ for those loans whose tenure is up to 36 months and for those which exceeds 36 months
  • For issuing Duplicate No Dues Certificate Rs 500 will be charged per instance
Loan Against Car 15.0% - 17.0% 6000 50% of original loan amount up to 5 years
Details
Documents Required

  • Identification Proof
  • Duly filled in the application form
  • Age Proof
  • Residential Address Proof
  • Income Proof
  • Bank Statement
  • Photographs
  • Signature Verification Proof
  • RC Copy in case of refinancing
  • Car Valuation report

Post Sanction, Pre disbursement Documentation

  • Standing Instructions (SI) request/ Post Dated Cheques / ECS form – Security Cheques are required for SI and ECS
  • Loan agreement which has been duly signed along with RTO set
Benefits

  • Documentation free loan
  • Get attractive interest rates starting at 13.99% per annum
  • Get special pre-approved offers for car loan against an existing one
  • Minimum documentation process
  • Ultra-fast processing for securing a car loan
Eligibility

For Salaried Individuals:

  • Minimum age of the applicant should be 21 years
  • Maximum age of the applicant should be 60 years or superannuation (whichever is earlier)
  • Individuals should be permanent employees in either a government organization or reputed companies.

For Professionals:

  • Minimum age of the applicant should be 21 years
  • Maximum age of the applicant should be 65 years or less at the time of home loan maturity
  • Professionals like Architects, Doctors, Engineers, Cost Accountants, Management Consultants, Company Secretary, Dentists and so on can avail a home loan.

Self Employed Individuals:

  • Minimum age of the applicant should be 21 years
  • Maximum age of the applicant at the time of maturity of home loan should not exceed 65 years
  • Individuals who file Income Tax Returns can also apply.
  • Applicants should have a self-owned business to secure the loan.
  • Applicants should have a regular source of income.
  • Applicants should be in business for a minimum of 2 years.
Other Details

  • For interest rates for car loan is between 15.0% - 17.0% per annum.
  • Processing Fee is Rs 6000 or 1% of the loan amount (whichever is lower)
  • Documentation charges are Rs 500
  • Penal interest is 2% per month (24% per annum)
Balance Transfer and Top Up Car Loan 15.0% - 17.0% up to 1% of loan amount maximum of up to Rs 30,00,000 up to 5 years
Details
Documents Required

  • Duly filled in the application form
  • Photographs
  • KYC Documents
  • Pro-Forma Invoice
  • Aadhaar Card
Benefits

  • Get attractive interest rates starting at 15% per annum
  • The minimum loan amount is Rs 1,00,000
  • Get a high value of loan of up to 150% of the original loan amount
Eligibility

  • The borrower should be a resident Indian
  • The borrower's age should be minimum of 21 years at the time of submitting the application form.
  • The borrower should have a regular source of income
  • Individuals who file Income Tax Returns can also apply for the loan.
Other Details

  • Interest rates on car loans is between 15.0% - 17.0% per annum
  • Processing Fee is 1% of the loan amount
  • Documentation charges are Rs 500
  • Foreclosure charges is 5% of principal outstanding loan amount
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