AXIS Bank Loan Against Car Eligibility, EMI Calculator, Interest Rates

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AXIS BANK LOAN AGAINST CAR 

ABOUT AXIS BANK LOAN AGAINST CAR :

You can fulfill your financial requirement by availing of Axis bank Loan against Car starting from Rs.100000 and Upto 50% of the original loan value of the car. At Axis Bank, we gave special pre-approved offers to our Privileged Customers, for Loan against Car with ultra-fast processing and minimal documentation.

1. Minimum loan amount : 

The AXIS Bank loan against car pre-approved offers for their customers. Loan against your car is upto 50% of the valuation of the car

2. Attractive interest rate :

Get a loan against a car at an interesting rate starting at 13.99% p.a.Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. So, there will be a very good chance for the customer to get a new car loan at an attractive and lower interest rate.

3. Less documentation required :

AXIS Bank provides special offers like super fast processing and minimum documentation for loans against cars. AXIS Bank required only a few documents such as ID proof and address proof along with income proof. Customers do not need to submit so many documents for the approval of a loan against a car from AXIS Bank.

4. Get cash loan : 

For existing axis bank loan holders are avail for cash loan facility

FEE AND CHARGES OF AXIS BANK LOAN AGAINST CAR :

TYPE

CHARGES

Processing fee

1% of the loan amount

Charges

5% of principal outstanding amount

Documentation charges

Rs.500

Overdue EMI interest charge

2% per month

Cheque bounce charges 

Rs.500 per instance

Stamp duty charges

At actuals 

ELIGIBILITY CRITERIA AXIS BANK LOAN AGAINST CAR :

  1. The minimum age required is 21 years and maximum age is 65 years at the time of applying for the loan.

  2. Salaried people as well as self employed individuals can apply for loan.

  3. Loans are provided only against cars that are below 10 years old.

DOCUMENTS REQUIRED FOR AXIS BANK LOAN AGAINST CAR :

While applying for a car loan properly check all the documents that are mentioned below. Without these documents loan is not possible to get. 

TYPE

Id Proof

Address proof

Income proof

Salaried

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 6 month bank statement, salary slip last 3 month

Self-employed

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 6 month bank statement, Form 16, latest ITR

Partnership Firms/private limited companies

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 3 month bank statement, latest ITR, Registered Lease Document with other utility bills,

Sales Tax or VAT Certificate,

Shop & Establishment Act Certificate

COMPARE OTHER BANK CAR LOAN INTEREST RATE :

BANKS

INTEREST RATE

AXIS Bank New Car Loan

9.05% to 11.30%

AXIS Bank Pre-Owned Car Loan

14.80% to 16.80%

AXIS Bank Loan Against Car

13.99%

AXIS Bank Balance Transfer and Topup Car loan

15.00%

SBI New Car Loan Scheme

8.00% to 10.75%

SBI Combo Loan Scheme

8.70% to 9.20%

SBI Pre-Owned Car Loan

9.75%

SBI Loyalty Car Loan Scheme

8.70% to 9.5%

HDFC Bank New Car Loan

8.80% to 10.50%

HDFC Bank Used car loan

12.75% to 15.30%

HDFC Bank Loan Against Car

13.75% to 16%

Kotak Mahindra Bank Car Loan

8.00% to 24%

Yes Bank Car Loan

9.25%

ICICI Bank Car Loan

9.30% to 12.85%

IDBI Bank Car Loan

9.30% to 9.90%

RBL Bank Car Loan

12% to 14%

IndusInd Bank Car Loan

10.65% to 15.50%

Bank of Baroda Car Loan

8.85%

Bank of India Car Loan

8.95%

Canara Bank Car Loan

7.75% to 10.30%

Indian Bank Car Loan

8.45%

Punjab National Bank Car Loan

8.9% to 9.35%

HOW TO APPLY ONLINE FOR AXIS BANK LOAN AGAINST CAR :

  • First of all visit to the website of AXIS bank

  • On homepage of go to “explore products”

  • After that go to “retails” and then on “loans”

  • In loans section click on car loan and then click on “loan against car”

  • Click on apply now button

  • Fill the application form 

  • Attach all required with application form

  • Submit the form and wait for the approval 

FINANCIALS PRODUCTS OFFERED BY BANKS :

BUSINESS LOAN

 

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

FREQUENTLY ASKED QUESTIONS :

1. How much processing fees is charged by AXIS Bank loan against a car?

The processing fee charged by AXIS Bank loan against a car is 1% of the loan amount.

2. What is the minimum and maximum tenure of AXIS Bank loan against a car?

The minimum tenure is 1 year and maximum tenure is 5 years of  AXIS Bank loan against a car

3. How to apply for an AXIS Bank loan against a car ?

You can apply online for an AXIS Bank loan against a car.

4. What is the minimum loan amount of an AXIS Bank loan against a car?

The minimum loan amount of AXIS Bank loan against a car is upto 50% of the valuation of the car.  

5. How much interest is charged by an AXIS Bank loan against a car?

The interest rate charged by an AXIS Bank loan against a car starts from 13.99%

Last Updated on : 25/Jul/2020

Know More About

Axis Bank Loan Against Car

You're eligible for a Axis Bank Loan Against Car if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Car Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Axis Bank Loan Against Car Interest Rates

Updated on 25 Nov 2017

Axis Bank Loan Against Car Details
Interest Rate (Monthly reducing balance) 13.99% - 0%
Processing Fees 1% to 3% of the loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Car Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959