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 Eligibility
| Salaried Individual |
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| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
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:
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:
- 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.
- 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.
- 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?
- Visit Dialabank and fill a form.
- Wait for a call from our Relationship Manager who will guide you throughout the process.
- You can compare different offers from banks and choose the one which suits your needs.
- 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?
- Visit Dialabank and fill a form.
- Wait for a call from our Link Administrator who will guide you throughout the process.
- You can compare different offers from banks and choose the one which satisfies your needs.
- 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?
✅ 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.