New Car Loan Online in Axis Bank

Car Loan  Updated date : December 9, 2017 433

Explore the most flexible, quick and cost-effective way to own your dream car

✔ High LTV Ratio
✔ Upto 95% of the ex-showroom price on select models
✔ Minimum - Rs. 1,00,000
✔ Maximum - Upto 85% on-road funding
✔ Special Benefits
✔ For Priority Banking, Wealth Banking, Privee Banking customers, as well as Axis Bank Salary A/C customers
✔ Axis eDGE Rewards
✔ Earn reward points for completing transactions

New Car Loan Features and Benefits

Get high-value loans

From Rs. 1,00,000 upto 85% on-road funding for upto 7 years tenure

Enjoy attractive interest rates

Starting from just 11%

Easily calculate Car Loan value

Value calculated on ex-showroom price of the vehicle

Benefit from a high LTV ratio

Upto 95% of the ex-showroom price on select models

Avail of special schemes and benefits

  • Banking surrogate schemes available
  • Special benefits for Priority Banking, Wealth Banking and Privee Banking customers. (Contact your Relationship Manager today to know more)
  • Processing Fees of Rs. 1,000 only
  • Waiver of income documents and bank statement
  • Special Surrogate Scheme available for Club 50 and Channel One Current Account customers:
    • Waiver of income documents and bank statements
  • Special scheme for Axis Bank Salary A/C customers:
    • Waiver of salary slips and bank statement

Choose your tenure

From 1 year to 7 years

Apply for a loan no matter who you are

Auto loans are available for:

  • Self-Employed Individuals
  • Proprietorships
  • HUF
  • Partnership Firms
  • Limited Liability Partnership Firms
  • Trusts
  • Societies and Companies

Earn Axis eDGE Rewards

Axis eDGE Rewards points for transactions and 500+ rewards and offers. to redeem points Earn points for these transactions:

  • 350 points if Post Disbursal documents are submitted within 60 days of first loan instalment being disbursed

New Car Loan Eligibility & Documentation

Car Loan Eligibility

Salaried individuals who are eligible for a loan

  • Minimum 21 years of age
  • Maximum 70 years of age at maturity (conditions apply)
  • Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models
  • Income eligibility based on latest salary slip and Form 16
  • Minimum of 1 year continuous employment

Self-employed individuals who are eligible for a loan

  • Minimum 18 years of age
  • Maximum 75 years of age at loan maturity
  • Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others.
  • Income eligibility based on latest Income Tax Returns
  • Minimum 3 years of employment in the same line of business

Self-employed non-individuals who are eligible for a loan

  • Minimum Net Annual Business income or Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others
  • Income eligibility based on latest 2 years. Income Tax Returns and audited financials of 2 years along with computation of income
  • Minimum 3 years of employment in the same line of business

Priority/Wealth/Privee customers eligible for a loan

  • Customers with a vintage of 6 months
  • A minimum Average Quarterly Balance (AQB) as below:
    • An AQB of Rs. 1 lakh for last 2 completed quarters AQB requirement to be met for both the quarters
  • Maximum loan amount restricted to 3 times the AQB in the last 2 quarters

Salary customers eligible for a loan

  • Customers who have a Salary A/c with Axis Bank since the past 3 months
  • Those who work with the following organisations:
    • Public Limited and Private Limited Companies
    • MNCs
    • Permanent employees of State / Central Government
    • Permanent employees of Public Sector Undertakings
    • Permanent employees of reputed schools / colleges
  • Other factors
    • Minimum 21 years of age
    • Maximum 70 years of age at loan maturity
    • Minimum Net Annual Salary of Rs. 2,40,000 p.a.
    • Income eligibility base on latest salary slip and Form 16
    • Minimum 1 year of continuous employment

Documents required for Car Loan

  • Age proof
  • ID proof
  • Application form
  • Photograph
  • Residence proof
  • Income proof
  • Bank statement
  • Signature verification proof
  • Pro-forma Invoice or Rate List

All of the above is subject to terms and conditions

New Car Loan Interest Rates and Charges

Rates of InterestProcessing Fee*Documentation Charges*
11.00% - 12.00%Rs. 3500 to Rs. 5500Rs.300/-
* Inclusive of GST
Other Charges
Sr. NoTypeCharges
1Cheque Bounce / Instrument Return ChargesRs 500/ Instance
2Cheque / Instrument Swap ChargesRs 500/ Instance
3Duplicate Statement issuance chargesRs 500/ Instance
4Duplicate Repayment Schedule issuance chargesRs 500/ Instance
5Duplicate No Dues Certificate / NOCRs 500/ Instance
6Late Payment Penal Interest2% per month
7Loan cancellation / Re-bookingRs 1000/ instance
8Foreclosure Charges5% of the Principal Outstanding plus GST
9Part payment charges **5% of the Part Payment amount plus GST
10Stamp DutyAt Actuals
11Issuance of Credit ReportRs 50/ Instance
*Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
** The minimum amount accepted for part payment will be equal to one EMI and maximum amount will be 25% of the balance principal in one year.

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