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Axis Bank Car Loan

Loanmani- Axis Bank

One of the key products offered by Axis Bank is a car loan. A car loan is a type of secured loan that can be availed to purchase a new or used car. With a car loan from Axis Bank, customers can easily fulfill their dream of owning a car without having to make a lump sum payment.

Axis Bank offers car loans with competitive interest rates and flexible repayment tenures ranging from 1 to 7 years. The bank provides up to 90% of the car's on-road price as a loan, subject to the borrower's credit score and repayment capacity. Axis Bank also offers a hassle-free loan application process with minimal documentation, making it convenient for customers to avail of a car loan.

3.00 %

Advertised Rate

1 - 8 Years

Available Terms

750

Credit Score

1 L - 50 L

Loan Amount

Why Choose Axis Bank

  • Competitive interest rates.
  • Flexible loan tenure and repayment options.
  • Financing of up to 100% of the car's on-road price.
  • Quick and hassle-free loan approval process.


Axis Bank Eligibility Criteria

  • The applicant should be between the ages of 21 and 70 years.
  • The applicant should have a minimum income of Rs. 15,000 per month.


Axis Bank Fees & Charges

  • Processing fees: Up to Rs. 5,500
  • Penal interest rate: 2% per month on overdue amount
  • Prepayment charges: 5% of the principal outstanding


Axis Bank Features & Benefits

  • Loan tenure of up to 8 years.
  • Financing of up to 100% of the car's on-road price.
  • Quick and easy loan approval process.
  • Flexible repayment options.
  • No hidden charges or fees.


Axis Bank Required Documents

  • KYC documents (PAN Card, Aadhaar Card, etc.)
  • Income proof documents (salary slips, bank statements, etc.)
  • Address proof documents
  • Car-related documents (car registration certificate, insurance certificate, etc.)


FAQs on Axis Bank Car Loan

Q: What is a car loan? 

A: A car loan is a type of secured loan in which a borrower borrows money from a lender to purchase a car. The car serves as collateral for the loan, and the borrower repays the loan amount along with interest in EMIs over a fixed tenure.

Q: What is the maximum loan amount that can be availed for a car loan from Axis Bank? 

A: The maximum loan amount that can be availed for a car loan from Axis Bank depends on the borrower's credit score, repayment capacity, and the value of the car being purchased. Generally, lenders offer up to 90% of the car's on-road price as a loan.

Q: What is the loan tenure for a car loan from Axis Bank? 

A: The loan tenure for a car loan from Axis Bank can range from 1 year to 7 years, depending on the borrower's repayment capacity and the value of the car being purchased.

Q: What is the interest rate for a car loan from Axis Bank? 

A: The interest rate for a car loan from Axis Bank depends on various factors such as the borrower's credit score, repayment capacity, and the value of the car being purchased. Generally, the interest rate for car loans starts from 7.99%.

Q: What are the documents required to apply for a car loan from Axis Bank? 

A: The documents required to apply for a car loan from Axis Bank may vary depending on the borrower's employment type and other factors. Generally, you need to submit identity proof, address proof, income proof, bank statements, and other relevant documents related to the car being purchased.

Q: Can I prepay the car loan? 

Are there any charges for prepayment? A: Yes, you can prepay the car loan. Axis Bank allows prepayment of the loan without any charges.

Q: Can I take a loan for a used car? 

A: Yes, Axis Bank offers loans for used cars as well. However, the loan amount, tenure, and interest rate may vary compared to a new car loan.

Q: Can I negotiate the interest rate for a car loan from Axis Bank? 

A: Yes, you can negotiate the interest rate for a car loan from Axis Bank based on your credit score, repayment capacity, and other factors.

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