Axis Bank Used Car Loan

Axis bank used car loan is a type of Axis bank vehicle loan that you can apply for when you want to buy a second hand ca-r at low rates. This loan is provided at highly competitive interest rates starting from 15% per annum for a flexible loan repayment period that ranges up to 60 months. When it comes to Axis bank pre-owned car loans, you need to go through a tedious application process and the loan gets approved in minimum time, given that you have gone through correct documentation. If you are looking for the best used car loan options, then here is the Axis bank second hand car loan for you.

Axis Bank Pre Owned Car Loan Highlights

Loan Amount	Starts at Rs 1 lac (Up to 85% of the car value)
Interest Charges	Starts at 15% per annum
Processing Fees	Up to 1% of the loan amount (or Rs 6,000)
Repayment Tenure	Up to 5 years
Prepayment	Up to 5% of outstanding amount

Axis Bank Second Hand Car Loan Features

Axis bank used vehicle loans brings all the important features you can expect in any used car loan finance. From affordable rates of interest and low processing fees to easy tenure options and hassle-free procedures, here are the notable checkpoints that Axis bank second hand car loan that make it one of the best ones:

Purpose

Axis bank pre-owned car loans are there to back your dream of owning a car when you wish to buy your desired car at minimum cost. Axis bank used car loan opens your door to buying a second hand car by offering funding.

Loan Amount

Axis bank used car loan finances up to 85% of the value of the car. The minimum amount of Axis second hand car loan starts at Rs 1 lac. Know that the amount is decided upon your profile, repayment capacity and other factors.

Rate of Interest

Axis bank used car loan interest rates range from 15% per annum and are subject to a multitude of parameters such as your income, credit worthiness and the type and model of car.

Repayment Tenure

When it comes to the time span for which you can avail the loan, it is safe to say that Axis bank offers quite an ease. The bank provides used car loan repayment tenure of up to 5 years.

Prepayment

Prepayment facilities matter to many car loan borrowers. After all, it saves the budget from being splurged on interest rates. Axis bank allows you to foreclose second hand car loans. However, you are charged a foreclosure fee of up to 5% of principal outstanding by the bank.

Eligibility for Axis Bank Used Vehicle Loan

Here is the eligibility criteria for Axis bank used car loan:

Salaried and self employed individuals and self employed non-individuals are eligible for Axis bank used car loan.
Salaried individuals must be at least 21 years and self employed individuals must be 18 years of age.
Salaried individuals should not exceed 60 years of age at the time loan maturity.
Self employed individuals should not exceed 65 years of age at the time loan maturity.
Minimum net annual income of salaried individuals should be Rs 2, 40,000.
Minimum net annual income of self employed individuals and non individuals should be Rs 2, 00,000.
Salaried individuals should have work experience of at least 1 year.
Self employed individuals and non individuals should have at least 3 years of experience in business.

Documents Required for Axis Bank Used Car Loan

You are required to submit the Axis bank used car loan documents in order to get the loan approved without any hassle or risk of rejection.

Here are the documents required for Axis bank second hand car loan:

Documents	Salaried Applicants	Self Employed Applicants
Identity Proof	Aadhar Card, Voter’s ID Card, Passport, Driving Licence	Aadhar Card, Voter’s ID Card, Passport, Driving Licence
Address Proof	PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills	PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills
Income Proof	Salary Slips, Bank Statements, Form 16	Balance sheet and profit and loss account, IT Returns, Business Proof
Other Documents	Passport-size Photographs, Duly Filled Application Form	Passport-size Photographs, Duly Filled Application Form

Other Products Of Axis Bank

Axis Bank Used Car Loan EMI Calculator

Here is how to calculate Axis bank pre-owned car loan EMI using the Axis bank used car loan EMI calculator:

Visit the official website of Axis bank.
Navigate to the “Explore Products” dropdown.
Click on the “Cra Loan” option in the “Loans” menu.
Click on the “Pre-Owned Car Loan” option.
Now click on “EMI Calculator”.
Enter the second hand car loan amount along with the total loan tenure and rate of interest.

Now you can view the payable Axis bank second hand car EMIs.

How to Apply for Axis Bank Used Car Loan?

Here is what you can do to apply for Axis bank second hand vehicle loan:

Apply for Axis bank used car loan offline

If you are planning to apply for an Axis bank second hand car loan offline, then all you have to do is visit the nearest branch of Axis bank. It is best that you carry all the necessary documents required for a used car loan application when visiting the Axis bank branch.

Apply for Axis bank used car loan online

You can apply for Axis bank pre owned car loans online which is an easy and convenient way to get the loan. Here are the steps you can follow to apply for an Axis bank used car loan:

Visit the official website of Axis bank.
Navigate to the “Apply Now” drop down menu.
Find and click on the “Car Loans” option.
Now that you are on the car loan application page, select where you are applying as an existing customer or a new customer.
Then, you have to start filling out the required information including the loan amount you need. If you are an existing customer, then you need to enter your registered mobile number and PAN number.
Submit your application.

You can also reach out to the Axis bank customer support to enquire about the pre owned car loan application procedure.

Axis Bank Car Loan Customer Care Number

If you need more assistance with the Axis bank used car loan or have any query or complaint then you can reach out to the Axis bank customer support.

Here is the Axis bank pre owned car loan customer care number:

1800-419-5959

FAQs On Axis Bank Used Car Loan

Q.1 What is the Axis bank used car loan interest rate?

Axis bank pre-owned car loan interest rates start at 15% per annum.

Q.2 What is the Axis bank used car loan processing fee?

The bank charges a processing fee of 1% of the loan amount (or Rs 6,000) for used car loan.

Q.3 Can I prepay my Axis bank second hand car loan?

Yes. You can make Axis bank used car loan prepayment.

Q.4 What are the Axis bank used car loan foreclosure charges?

The bank charges a foreclosure fee of up to 5% on making prepayment of a pre owned car loan.

Q.5 How can I apply for an Axis bank used car loan?

There are two ways to apply for an Axis bank pre owned car loan- offline and online. To apply for an Axis bank pre owned car loan offline, you need to visit the nearest branch of the bank. To apply online, you can go to the official website of Axis bank.

Q.6 What is the repayment tenure for Axis bank pre owned car loan?

The Axis bank pre owned car loan repayment tenure ranges up to 5 years.

Q.7 What is the eligibility criteria for salaried individuals for Axis bank used car loan?

Here is the Axis bank pre owned car loan eligibility criteria for salaried individuals:

Minimum age of applicants should be 21 years and maximum age should be 60 years.
Minimum net annual income should be Rs 2,40,000.
Applicants should have a minimum work experience of at least 1 year.

Last Updated on : 21/Apr/2021

You're eligible for a Axis Bank Used Car Loan 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 Used Car Loan 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 Used Car Loan Interest Rates

Updated on 25 Nov 2017

Axis Bank Used Car Loan Details
Interest Rate (Monthly reducing balance)	14.5% - 16.25%
Processing Fees	1%
Loan Tenure	1 year to 5 years
Pre-closure Charges	Varies with bank
Guarantor Requirement	Varies with bank

Used Car Loan EMI Calculator

Loan Amount

₹

|
1L |
25L |
50L |
75L |
100L |
125L |
150L |
175L |
2Cr

Interest Rate

%

|
5 |
7.5 |
10 |
12.5 |
15 |
17.5 |
20 |
22.5 |
25

Loan Tenure

Year Month

|
1 |
5 |
10 |
15 |
20 |
25 |
30

|
0 |
60 |
120 |
180 |
240 |
300 |
360

Your Monthly Loan EMI

₹24,959