Here are a few factors
|Location||50Km from Axis Branch|
|CIBIL Score||700+ & Minus 1 CIBIL|
|Loan Amount & Tenure||1
Lac to No Limit
(36 month to 84 month)
|Loan to Value(LTV)||100% of Ex-Showroom Value|
|Type of Funded Vehicle||New Car & Commercial Car|
|Rate of Interest & Type||9.20% to 10.45% (Fixed)|
|Applicant||Any Salaried or Self Employed Person|
|Applicant Age||21 to 60 Year|
|Applicant Minimum Income||1.
Salaried having monthly net Salary>25K
2. Self Employed Person having ITR>2.50 Lac
|Business Vintage for Self Employed Applicant||3 Year|
|Minimum Job Experience for Salaried Applicant||2 Year|
|Whether Co-Applicant Mandatory||No|
|Part Payment Allowed||Yes, after 12 month|
Salaried- 36 Time of Net monthly Salary
2. Self Employed-4 time of average Gross total Income of last 2 year
3. Banking Program-Upto 12 Lac (ABB should be 1.50 time of EMI)
|Negative Profile||Cash Salary, Share Traders|
No Financial upto 12 Lac loan
2. On APP Score basis sanction within 1 hour
|Additional||In Banking Product, residence must be owned|
Axis Bank Car Loan EMI Calculator
|Interest %||9 %|
|Emi (monthly)||₹ 8,745|
|Total Interest||₹ 4,942|
|Loan Amount + Interest||₹ 104,942|
|Year||Total Principal |
( A )
|Total Interest |
( B )
( A + B)
|Total Payment||Loan Paid Till Date (%)|
|₹ 24,165||₹ 2,070||₹ 26,235||₹ 75,835||24.16 %|
|₹ 75,832||₹ 2,873||₹ 78,705||₹ 3||100.00 %|
Required Documents to Apply for Axis Bank Car Loan
KYC of applicant
Last 3 Month Salary Slip
Last 12 month Bank Statement of applicant
Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
26AS of last 2 year of applicant
Quotation of Car
Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
Latest utility Bill if owned residence or rent agreement if rented
KYC of applicant & Co-Applicant
KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
Last 3 year audited balance sheet of applicant
Last 3 year Tax audit report of applicant
Last 12 month Bank Statement of applicant & co-applicant
Copy of Last 12 month GST return if applicable
Quotation of Car
Sanction letter of all running loan
Latest utility Bill of residence if owned or rent agreement if rented
Latest utility Bill of Office if owned or rent agreement if rented
List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
About Axis Bank Car Loan
Are you in the market for a new car? Look into the most adaptable, rapid, and cost-effective approach to acquiring your dream car. Axis Bank's New Car Loan provides car loans ranging from Rs. 1 lakh to 100% on-road financial backing, as well as an abundance of other rewards like competitive interest rates, flexible repayment terms, Axis eDGE Reward points, and so on. Before asking for a car loan online, take advantage of the car loan calculator to calculate your EMI. Ask for an Axis Bank new automobile loan to realise your goal of buying a brand-new car.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
The interest rate offered by axis bank for car loans varies on used or new cars from 8.20% to 11.40%.
Axis bank requires a cibil score between 600-700 points before applying for a new car loan.
You can track all the payment and tenure date details on the axis bank mobile application.
Yes, Axis Bank provides a partial repayment option with their new car loans.
Axis bank works on the mantra of “anytime anywhere” - axis bank allows you to apply for your car loan by either sitting at your home or by also using the axis bank mobile banking application.