Axis Bank Car Loan

1. Get up to 100% of the on-road price of the car
2. Attractive interest rates starting at 8.80% p.a.
3. Priority Banking, Privee Banking, and Wealth Banking customers can get special benefits
4. Salary account holders and pre-approved loan customers need not submit bank statements and income documents

Axis Bank Car Loan Fees & Charges

Given below are the fees and charges applicable on your Axis Bank car loan:

Axis Bank Car Loan Eligibility

Axis Bank offers car loans with flexible eligibility criteria for salaried, self-employed, and priority customers. Age, income, and employment stability play a key role in determining eligibility. Check the complete details on Axis Bank Car Loan Eligibility before applying. 

Car Loan Schemes offered by Axis Bank

The car loan schemes offered by Axis Bank are:

1. Axis Bank New Car Loan scheme: This scheme is suitable for those who wish to purchase a new car for themselves. The minimum loan amount that an individual can avail is Rs.1 lakh with the repayment tenure being up to 8 years.
2. Axis Bank Pre-Owned Car Loan scheme: Customers who wish to purchase a pre-owned car for themselves can avail this car loan from Axis Bank. The minimum loan amount that one can avail is Rs.1 lakh with the repayment tenure going up to 5 years.
3. Loan against car scheme: If you are in an urgent need of money, you can avail this scheme where you can offer your vehicle as a collateral in exchange for loan. The loan amount offered by the lender starts at Rs.10 lakh and up to 50% of the original value of the car.

How to Calculate EMI on Axis Car Loan

Before you avail a car loan from Axis, you may want to know how much amount you will be paying towards the loan each month. This is simply known as EMIs or equated monthly instalments and it offers an easy way to repay your car loan. By calculating the Axis Bank Car Loan EMI , you will be able to budget your monthly expenses better.

You can calculate the EMI for your car loan by using the below-given formula:

E = P*r*[(1+r) ^n/((1+r) ^n-1)]

In the above formula, E denotes the EMI, P the principal amount, r the interest rate and n the number of years or tenure of the loan.

You can also calculate the EMI by using the EMI Calculator tool wherein you just need to enter the loan amount, interest rate, repayment tenure, processing fee, etc. The tool will calculate the EMI and display it to you.

Comparison for Car Loan Interest Rates of Top Banks with Lowest EMI for 7 Years

How to apply for Axis Bank Car Loan

Through the bank's official channel: You can visit the official website of Axis Bank and under the car loan scheme, apply for a car loan. You will have to upload the required documents as asked by the bank. The documents submitted by you will be verified and if they are found to be correct, the lender will disburse the loan amount into your bank account.

Documents Required for Axis Bank Car Loan

Here’s a quick list of documents required for an Axis Bank Car Loan, based on the type of applicant:

What is the process of loan verification?

After you have submitted your loan application and required documents, Axis Bank follows the procedure below:

1. Processing and approval of the application form
2. Verification of documentation
3. Sanctioning the loan
4. Disbursement of the loan

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