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
|
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 |
The minimum age required is 21 years and maximum age is 65 years at the time of applying for the loan.
Salaried people as well as self employed individuals can apply for loan.
Loans are provided only against cars that are below 10 years old.
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 |
|
BANKS |
INTEREST RATE |
|
9.05% to 11.30% |
|
|
14.80% to 16.80% |
|
|
13.99% |
|
|
15.00% |
|
|
8.00% to 10.75% |
|
|
8.70% to 9.20% |
|
|
9.75% |
|
|
8.70% to 9.5% |
|
|
8.80% to 10.50% |
|
|
12.75% to 15.30% |
|
|
13.75% to 16% |
|
|
8.00% to 24% |
|
|
9.25% |
|
|
9.30% to 12.85% |
|
|
9.30% to 9.90% |
|
|
12% to 14% |
|
|
10.65% to 15.50% |
|
|
8.85% |
|
|
8.95% |
|
|
7.75% to 10.30% |
|
|
8.45% |
|
|
8.9% to 9.35% |
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
|
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The processing fee charged by AXIS Bank loan against a car is 1% of the loan amount.
The minimum tenure is 1 year and maximum tenure is 5 years of AXIS Bank loan against a car
You can apply online for 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.
The interest rate charged by an AXIS Bank loan against a car starts from 13.99%
Last Updated on : 25/Jul/2020Know More About
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
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 |
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