Axis Bank Car Loan Interest Rates, EMI, Eligibility

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Axis Bank offers you the facility of owning your dream car with your dream features of borrowing a car loan. You could relish on low interest rates, with flexible tenure and also a lots of benefits which is only offered by Axis Bank New Car Loan.

Axis Bank Car Loan – Quick Approval

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Car Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Axis Bank Car Loan Highlights

Interest Rates 9.05% – 11.30% per annum
Processing Fees A minimum amount of Rs 1000 of the loan amount is charged as processing fees.
Foreclosure Charges Upto 5% of the principal outstanding balance + service tax is charged as foreclosure penalty.
Part-payment Charges Upto 5% of the principal outstanding balance + service tax is charged as part-payment penalty.
Benefits · Enjoy the features of high loan amount

· Low interest rates

· Up to 95% of the ex-showroom price on selected car models.

· Flexible repayment period

Eligibility · Salaried Individuals with minimum age of 21 years to 70 years of age.

· Self-employed individuals/non-individual with a minimum age of 18 years to maximum 75 years of age.

· Priority/Wealth/Privee customers.

Income Criteria Salaried Individuals

· The minimum Net Annual Income of a salaried individual must be Rs 2,40,000 per annum with a minimum of 1 year continuous employment with the same organization.

Self-employed Individuals

· The minimum Net Annual Profit must be Rs 1,80,000 per annum for purchasing standard cars and Rs 2 lacs for purchasing premium cars, with a minimum experience of 3 years as per the rules of the ITR.

Self-employed Non-individuals

· The minimum Net Annual Income must be Rs 1,80,000 per annum and the income eligibility is based on latest 2 years ITRand audited balance sheet of 2 years with minimum 3 years of employment in the same line of business.

Priority/Wealth/Privee customers.

· Any customers with a vintage of at least 6 months

· The minimum Average Quarterly Balance must be Rs 1 lac for the last 2 completed AQB necessary to be met for both the quarters.

Minimum Loan Amount The minimum loan amount is Rs 1 lac
Maximum Loan Amount The maximum loan amount one can borrow is up to 85% on-road funding.
Repayment Period You can repay the loan amount within a minimum period of1 year to 7 years.
Security Claim for the vehicle to be purchased with the loan amount as security.
Documents Required · Identity Proof

· Address Proof

· Age Proof

· Application Form

· Photograph

· Income Proof

· Bank Statement

· Signature Proof

· Pro-forma Invoice or Rate List

Terms and Conditions

  • The bank has the right to reject any application without ant prior reason stated.
  • It is the duty pf the applicant to inform the bank if there is any change of address or employment.
  • The interest rates and the processing fees is subjected to change without any prior notice.
  • Axis bank is not responsible for the contract entered by the applicant with the vehicle dealer.

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