New Car Loan Online in Axis Bank
- Loan ID : N0125
- 979
- 0
- Car Loan
- State : Uttar Pradesh
- City : Lucknow
Explore the most flexible, quick and cost-effective way to own your dream car
✔ High LTV Ratio
✔ Upto 95% of the ex-showroom price on select models
✔ Minimum - Rs. 1,00,000
✔ Maximum - Upto 85% on-road funding
✔ Special Benefits
✔ For Priority Banking, Wealth Banking, Privee Banking customers, as well as Axis Bank Salary A/C customers
✔ Axis eDGE Rewards
✔ Earn reward points for completing transactions
New Car Loan Features and Benefits
Get high-value loans
From Rs. 1,00,000 upto 85% on-road funding for upto 7 years tenure
Enjoy attractive interest rates
Starting from just 11%
Easily calculate Car Loan value
Value calculated on ex-showroom price of the vehicle
Benefit from a high LTV ratio
Upto 95% of the ex-showroom price on select models
Avail of special schemes and benefits
- Banking surrogate schemes available
- Special benefits for Priority Banking, Wealth Banking and Privee Banking customers. (Contact your Relationship Manager today to know more)
- Processing Fees of Rs. 1,000 only
- Waiver of income documents and bank statement
- Special Surrogate Scheme available for Club 50 and Channel One Current Account customers:
- Waiver of income documents and bank statements
- Special scheme for Axis Bank Salary A/C customers:
- Waiver of salary slips and bank statement
Choose your tenure
From 1 year to 7 years
Apply for a loan no matter who you are
Auto loans are available for:
- Self-Employed Individuals
- Proprietorships
- HUF
- Partnership Firms
- Limited Liability Partnership Firms
- Trusts
- Societies and Companies
Earn Axis eDGE Rewards
Axis eDGE Rewards points for transactions and 500+ rewards and offers. to redeem points Earn points for these transactions:
- 350 points if Post Disbursal documents are submitted within 60 days of first loan instalment being disbursed
New Car Loan Eligibility & Documentation
Car Loan Eligibility
Salaried individuals who are eligible for a loan
- Minimum 21 years of age
- Maximum 70 years of age at maturity (conditions apply)
- Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models
- Income eligibility based on latest salary slip and Form 16
- Minimum of 1 year continuous employment
Self-employed individuals who are eligible for a loan
- Minimum 18 years of age
- Maximum 75 years of age at loan maturity
- Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others.
- Income eligibility based on latest Income Tax Returns
- Minimum 3 years of employment in the same line of business
Self-employed non-individuals who are eligible for a loan
- Minimum Net Annual Business income or Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others
- Income eligibility based on latest 2 years. Income Tax Returns and audited financials of 2 years along with computation of income
- Minimum 3 years of employment in the same line of business
Priority/Wealth/Privee customers eligible for a loan
- Customers with a vintage of 6 months
- A minimum Average Quarterly Balance (AQB) as below:
- An AQB of Rs. 1 lakh for last 2 completed quarters AQB requirement to be met for both the quarters
- Maximum loan amount restricted to 3 times the AQB in the last 2 quarters
Salary customers eligible for a loan
- Customers who have a Salary A/c with Axis Bank since the past 3 months
- Those who work with the following organisations:
- Public Limited and Private Limited Companies
- MNCs
- Permanent employees of State / Central Government
- Permanent employees of Public Sector Undertakings
- Permanent employees of reputed schools / colleges
- Other factors
- Minimum 21 years of age
- Maximum 70 years of age at loan maturity
- Minimum Net Annual Salary of Rs. 2,40,000 p.a.
- Income eligibility base on latest salary slip and Form 16
- Minimum 1 year of continuous employment
Documents required for Car Loan
- Age proof
- ID proof
- Application form
- Photograph
- Residence proof
- Income proof
- Bank statement
- Signature verification proof
- Pro-forma Invoice or Rate List
All of the above is subject to terms and conditions
New Car Loan Interest Rates and Charges
Rates of Interest | Processing Fee* | Documentation Charges* |
---|---|---|
11.00% - 12.00% | Rs. 3500 to Rs. 5500 | Rs.300/- |
* Inclusive of GST |
Other Charges | ||
---|---|---|
Sr. No | Type | Charges |
1 | Cheque Bounce / Instrument Return Charges | Rs 500/ Instance |
2 | Cheque / Instrument Swap Charges | Rs 500/ Instance |
3 | Duplicate Statement issuance charges | Rs 500/ Instance |
4 | Duplicate Repayment Schedule issuance charges | Rs 500/ Instance |
5 | Duplicate No Dues Certificate / NOC | Rs 500/ Instance |
6 | Late Payment Penal Interest | 2% per month |
7 | Loan cancellation / Re-booking | Rs 1000/ instance |
8 | Foreclosure Charges | 5% of the Principal Outstanding plus GST |
9 | Part payment charges ** | 5% of the Part Payment amount plus GST |
10 | Stamp Duty | At Actuals |
11 | Issuance of Credit Report | Rs 50/ Instance |
*Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable). ** The minimum amount accepted for part payment will be equal to one EMI and maximum amount will be 25% of the balance principal in one year. |
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