Axis Bank Used Car Loan

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Buy your dream Car

Rates as low as 8.50%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
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Axis Bank Used Car Loan Key Features

Axis Bank Used Car Loan Interest Rate 14.80%* per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 85% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,526
Minimum Net Monthly Income ₹ 15,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 60 years
Self Employed: 21 years to 65 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs).
Processing Fee 1% of the loan amount
Foreclosure Charges No foreclosure are levied after the first 12 EMIs
Up to 2% before the first 12 EMIs
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Axis Bank Used Car Loan

Axis Bank was established in 1994 as an Indian financial service provider based in Mumbai. The first branch was inaugurated in April 1994 in Ahmedabad by Dr. Manmohan Singh, former Honorable Finance Minister. It works on major financial segments like corporate banking, insurance, finance, mortgage loans, etc.

Axis Bank provides Car Loans at attractive rates of interest to the consumer for buying their dream car whether new or second hand. It is an easily available loan that can be procured by anyone even by ones who have a slightly low credit/CIBIL score.

Advantages of Axis Bank Used Car Loan

Axis Bank Used Car Loan

Axis Bank Used Car Loan Eligibility

Salaried Individual
  • Age – 21-60 years of age
  • Net Monthly Income – should be minimum ₹ 15000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least 6 months
  • Average Quarterly Balance – Minimum Rs.1 lakh for last 2 quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last 2 quarters

Axis Bank Used Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% p.a. to 11.30% p.a. 14.80% p.a. to 16.80% p.a.
Processing fee Rs.3,500 to Rs.5,500 1% of the loan amount or Rs.6,000, whichever is lower
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges 5% of the principal outstanding 5% of the principal outstanding
Penal Interest 2% per month 2% per month
Part Payment charges 5% of the paid amount 5% of the paid amount
Cheque/Instrument Swap Charge Rs.500 per instance Rs.500 per instance
Documentation Charge Rs.500 per instance Rs.500 per instance
Issuance of Duplicate No Dues Certificate Charges Rs.500 per instance Rs.500 per instance
Registration Certification Collection Charge Rs.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.500 per instance Rs.500 per instance
Issuance of Duplicate Statement Charges Rs.500 per instance Rs.500 per instance
Loan Cancellation/Re-booking Charges Rs.2,500 per instance Rs.2,500 per instance
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

Axis Bank Used Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof

(Any 1)

Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

(Any 1)

Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Work Experience Certificate
ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Business Proof Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest MOA
Copy of Incorporation
Copy of Latest AOA
Address Proof (Any 1)
Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents
List of Directors and Shareholding Partners
PAN Card
Board Resolution
Certificate of Commencement of Business for Ltd. Co.

Axis Bank Used Car Loan EMI Calculator

The applicant has the option to know the EMI’s before availing a Car Loan. Thus, you can easily check through the link below:

Car Loan EMI Calculator

Axis Bank Used Car Loan Types

Axis Bank offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:

  1. New Car Loan –  Those who wish to buy a new car, this is the scheme for you. You can take Axis Bank Used Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you wish to buy a used car then you can choose this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can opt for this scheme if you are in need of urgent funds where you can keep your cars as collateral with the bank where you can get Rs. 10 lakh or up to 50% of your car’s value.

Axis Bank Used Car Loan Pre Calculated EMI

How to Apply for Axis Bank Used Car Loan?

  1. Visit Dialabank and fill a form.
  2. Wait for a call from our Relationship Manager who will guide you throughout the process.
  3. You can compare different offers from banks and choose the one which suits your needs.
  4. Thus, easily apply for a Car Loan through Dialabank and enjoy the best offers.

Axis Bank Used Car Loan for Top Selling Cars

Other Available Products from Axis Bank

Axis Bank Personal Loan Axis Bank Gold Loan Axis Bank Home Loan
Axis Bank Credit Card Axis Bank Two Wheeler Loan Axis Bank Education Loan

FAQs for Axis Bank Used Car Loan

What is the Axis Bank Car Loan?

Axis Bank car loan is the loan sum given to its customers by the bank for a new or used car.

How can I get a Car Loan from the Axis Bank?

  1. Visit Dialabank and fill a form.
  2. Wait for a call from our Link Administrator who will guide you throughout the process.
  3. You can compare different offers from banks and choose the one which satisfies your needs.
  4. Thus, easily apply for a Car Loan through Dialabank and enjoy the best offers.

✅ How does Axis Bank Car Loan work?

When you will apply for a car loan, then you will get a call from our representative and later, there will a record verification process. Then, the loan amount will be credited to your account.

✅ What is the Car Loan Interest Rate in Axis Bank?

The interest rate on a car loan in the Axis Bank is 7.35% only.

✅ How to Check Car Loan status in Axis Bank?

You can track your car loan status online on the Car loan status website.

✅ How to Calculate Car Loan Interest in Axis Bank?

Use Dialabank’s EMI calculator to find out the interest as well as the EMI on your loan.

What is the maximum loan amount I can avail of on Car Loan from the Axis Bank?

The maximum loan amount you can avail of on a car loan is up to 85% of On Road Price.

What is the loan tenure of Axis Bank Car Loan?

The loan tenure of the Axis Bank Car Loan is a pinnacle of 7 years.

✅ Can I get a 100% Car Loan from the Axis Bank?

Yes, you can get a 100% Ex-showroom Price car loan from the Axis Bank.

How much Processing Fee is applicable to the Axis Bank Car Loan?

Axis Bank charges a processing fee of Rs.3,500 to Rs.5,500.

✅ What are the EMI options available on the Axis Bank Car Loan?

Axis Bank Provides two EMI options Step-up EMI and Balloon EMI.

What are the charges for Prepayment in Axis Bank Car Loan?

You can prepay/foreclose your Axis Bank Car Loan with No foreclosure charges after the first 12 EMIs and 2% before the first 12 EMIs.

Can I get a top-up loan on my existing Axis Bank car loan?

You can get a top-up loan on your current car loan from the Axis Bank for up to 150% of its value.

Do I need to provide a guarantor to avail a car loan from the Axis Bank?

Generally, you don’t need a guarantor for a car loan. However, you may need a guarantor if you don’t fulfill the eligibility criteria.

How to get the Axis Bank Car Loan Statement?

Get the statement in person by visiting your branch and requesting a detailed statement.

                                                       or

You can get the statement online. To do this, you should have Axis Bank internet banking activated.

How to Pay Axis Bank Car Loan Interest Online?

Simply logon to online Axis Bank payment to ‘see and pay’ your bills. You also get an electronic acknowledgment for every bill paid by you using e-PAY. You can also pay through Paytm.

What if I can’t pay the interest on Axis Bank Car Loan for 3 months?

Axis Bank imposes 24% of the exceptional amount or a Fee ranging from Rs.500 to Rs.5000 for not paying the EMI for 3 months.

How can I apply for EMI Moratorium on Axis Bank Car Loan?

You can apply for EMI Moratorium on Axis Bank Car Loans directly from the Axis Bank website’s Loan corner.

✅ What is the number for the Axis Bank Car Loan agent?

Call Dialabank at 9878981166 as it is one of the most trusted Axis Bank Car Loan agents. Dialabank even ensures the best offers on your Car Loan.

✅ Can I close the Axis Bank car loan online?

Axis Bank car loans can be closed by visiting the nearest branch and clearing off the outstanding amount.

✅ What is the Axis Bank Car Loan Customer Care Number?

Call 9878981166 and clear any of your queries with us anytime.

✅ How can I get NOC from the Axis Bank for a Car loan?

You can get NOC directly from the branch for Axis Bank Car Loans.

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