Axis Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Fixed Rate of Interest : 8.75%  to 11.50% 

Eligibility Criteria

  • Minimum 21 years of age and maximum 70 years
  • Loan period from 1 years to 7 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 2.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Axis Bank

Axis Bank is the third largest private sector bank in india. It offers financial services to customer segments covering large and Mid-Corporates. Axis bank offers uniquely tailored car loan products that take the pain and hassle out of buying a car. Axis bank car loans are flexible, transparent, quick, and cost-effective.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 70 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Minimum income required Rs.20,000 per month
EMIs of other loans loweryour eligibility
Pay off your credit card bills
Choose longer tenure loan up to 7 years

Rate of Interest and Other Charges for New Car Loan are following

New Car Loan Rate Of Interest:

Sno.

Loan Type

Rate of Interest

1

Axis bank (Fixed)

8.75% to 11.5%

Existing Loan take over or New Loan

Why you should choose Axis bank

  • Enjoy attractive interest rates
  • Easily calculate Car Loan value
  • Benefit from a high LTV ratio
  • Avail of special schemes and benefits
  • Choose your tenure
  • Apply for a loan no matter who you are

Features of Loan

Features and Benefits of an Axis Bank Car Loan

  • To value is up to 95% of the ex-showroom price
  • Salaried and self-employed individuals, proprietors, HUF, partnership firms, limited liability partnership
  • firms, trusts, societies and companies are eligible for loans
  • Special banking surrogate schemes
  • Axis Bank offers special scheme for its salary account holders
  • Minimum repayment period is one year and maximum tenure can go up to 7 years.
  • The value of car loan is calculated on the basis of ex-showroom price
  • Minimum loan amount that can be availed is Rs 1 Lakh

Documents Required for applying Car loan with Axis Bank

  1. Age Proof (Any one from these)
  • PAN Card
  • Passport
  • Voter ID
  • Aadhaar Card
  • School or College Leaving Certificate.
  1. Identity Proof (Any one from these)
  • PAN Card
  • Passport/Voter ID
  • Aadhaar Card
  • Driving License
  1. Residence Proof (Any one from these)
  • Passport
  • Voter ID
  • Electricity Bill
  • Telephone Bill
  • Life Insurance Policy
  1. Signature Verification Proof
  • PAN Card
  • Passport
  • Aadhaar Card
  • Any Other Documents Supporting Signature Proof
  1. Bank Statement
  • Bank Statement of Last 3-6 Months
  1. Income Proof

     For Salaried-

  • Salary Slip of Last 3-6 Months.
  • Form 16 of Last 2 years.

      For Self Employed-

  • ITR of Last 3 Years Profit & Loss A/C Statement
  • Audited Balance Sheet for Last 3 Years