Axis Bank Car Loan – Interest Rates 2024, Documents, EMI

Axis Bank Car Loans Online – Check Interest Rates 2024 ✓ Documents ✓ Eligibility ✓ lowest EMI. Now bring home your favorite car at an EMI as low as Rs.1599/- per lakh from Axis Bank.

Exclusive features of Axis Bank Car Loan

  • Loan tenure of up to 8 years
  • 100% on-road funding
  • Zero foreclosure and part payment charges
  • Axis Bank Car Loan Details:

    Interest Rates 8.80%-13.05%
    Processing fees Rs.3500 – Rs.5500
    Document charges Rs.500/-
    Approval Time 30 Minutes
    Minimum Loan Amount 1 Lakh

    Axis Bank Car Loan Interest Rates 2024

    Tenure Period Interest Rates
    Upto 7 Years 8.80%-13.05%
    Lowest EMI per Lakh Rs.1599/-
    Repayment Period Upto 8 years

    Features and Benefits of an Axis Bank Car Loan

    ✓ 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
    ✓ 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

    Eligibility Criteria for Axis Bank Car Loan

    Age: Minimum age of an applicant should be 21 years for salaried class and 18 years for self-employed.
    Income: For all approved car models, the minimum net salary of an applicant should be Rs 2.4 lakh per annum. For self-employed applicants, the minimum net annual business income should be Rs 1.8 lakh per annum for selected models and the income should be Rs 2 lakh per annum for other categories)

    Scheme for Salary Customers

    All Axis Bank customers who have their salary account with it for the past three months are eligible for Axis Bank car loan.

    Minimum age: 21 years
    Income: Minimum net salary should be Rs 2.4 lakh per annum
    Income eligibility: As per latest salary slip and Form 16
    Employment: Minimum one year of continuity in employment

    Documents Required for Axis Car Loans:

    List of Car Loan documents required

    Post Sanction / Pre Disbursement Documentation

    ✓ Age proof
    ✓ ID proof
    ✓ Application form
    ✓ Photograph
    ✓ Residence proof
    ✓ Income proof
    ✓ Bank statement
    ✓ Signature verification proof
    ✓ Loan Agreement duly signed along with RTO set
    ✓ Post Dated Cheques (PDCs) / ECS form / Standing Instruction (SI) request
    ✓ Margin money receipt

    Axis Bank Car loan EMI Calculator

    Calculate Loans EMI Online

    Loan Amount
    Interest Rate (Reducing) % Per Annum
    Loan Tenure (in Months)
    Monthly EMI
    Total Amount with Interest
    Total Interest Amount
    Yearly Interest Amount

    Axis Bank car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

    For an example, You can take a loan amount of Rs.5 lakh for swift dzire or Swift car for 5 years repayment period at 9.25% rate of interest than you emi calculations are as follows:

  • Loan Amount = Rs. 5,00,000
  • Monthly Installment (EMI) = Rs. 10439.95
  • Total Interest Amount = Rs. 1,26,397
  • Total Amount (Principal + Interest) = Rs. 6,26,397
  • Year Principal Interest Balance Amount
    1 Rs. 82,468 Rs. 42,812 Rs. 417,532
    2 Rs. 90,428 Rs. 34,852 Rs. 327,104
    3 Rs. 99,159 Rs. 26,121 Rs. 227,945
    4 Rs. 108,727 Rs. 16,553 Rs. 119,218
    5 Rs. 119,298 Rs. 6,058 Rs. 0

    How to apply for Axis Bank car loan?

    You can apply online or personally visit your nearest Axis Bank loan centre.

    What is the minimum amount of auto loan that I can get?

    At Axis Bank, the minimum amount of auto loans is Rs 1 lakh.

    What procedure is followed at the bank after I apply for an auto loan?

    After receiving your duly filled application and necessary documents such as ID proof and income proof, the bank initiates the following procedure:

    • Processing of application followed by approval
    • Documentation.
    • Loan sanction.
    • Disbursement.

    If your loan application is complete and proper in all respects, you will hear from the bank within 30 days from the date of submission of application. The period of 30 days is calculated from the day when you submitted your duly filled loan application to the bank.

    Can I make part prepayment?
    Yes, you can make part prepayment towards your car loan at the nearest Axis Bank loan centre.