Axis Bank Car Loan Interest Rate

These are the major attributes of the car loans from Axis Bank-

• The smallest loan accessible is Rs.1 lakh.
• On select models, you can get financing for up to 100% of the on-road price.
• Select a loan repayment term of up to 7 years for new cars and five years for used vehicles.
• Customers of Priority Banking, Wealth Banking, and Private Banking receive additional privileges.
• Customers with Axis Bank pay accounts are not required to produce income documentation or bank account statements.
• Car loan interest rate Axis Bank begins at 8.55% per annum.
• For used autos, you can get up to 85% of the appraisal amount funded.
• Get up to 150% of the original loan amount with a balance transfer or top-up loan.
• The automobile loan value is typically computed based on the car's ex-showroom price.
• With a Smart Buyback auto loan, you can buy or upgrade to your dream car while receiving an assured buyback of up to 67% of the car's value.

Here is the table of the Axis Bank Car Loan Interest rates 2024 -

Following are the eligibility criteria for a Car Loan from Axis Bank-

• The candidate must be at least 21 years old, with a maximum qualifying age of 70 years.
• Annual net salary of Rs.2.4 lakh
• The applicant must have worked for at least one year.
• The income qualifying conditions will be determined by Form 16 and the salary slip that is presented.

• The applicant needs to be at least 18 years of age and no older than 75 years old.
• For certain car models, the minimum net annual business income must be Rs.18 lakh, whereas, for other models, the minimum net yearly business income must be Rs.2 lakh.
• The applicant must have worked for a minimum of three years.
• The income eligibility conditions will be determined by the most recent income tax returns.

• Customers with a six-month vintage.
• For the previous two quarters, the applicant must have had an average quarterly balance of Rs.1 lakh.
• The maximum loan amount available must be three times the average quarterly balance for the previous two quarters.

• For certain car models, the minimum net annual business income must be Rs.18 lakh, whereas, for other models, the minimum net yearly business income must be Rs.2 lakh.
• The applicant must have worked for a minimum of three years.
• The applicant must provide IT returns for at least two years, as well as audited financials for two years and estimated income.

• Application form
• KYC documents
• Proforma invoice
• Passport size photograph of each applicant

There are different schemes offered by the bank to cater to different financial aid for buying cars-

Get a minimum loan of Rs.1 lakh up to 100% of the on-road pricing, plus features like reasonable interest rates, flexible repayment terms, Axis eDGE reward points, and more. Select plans provide payback terms of up to 7 years.

Take advantage of the balance transfer option on vehicle loans or top up your car loan for some more cash. Attractive interest rates are offered on high-value loans of up to 150% of the original loan amount. Customers of Priority Banking benefit from a maximum tenure of up to 5 years.

With a minimum of Rs.1 lakh, you can acquire up to 85% of the car's value as financing on a used car. Quick approvals, full transfer support. The maximum payback period is five years.

Axis Bank has partnered with CarDekho to provide this program, which allows you to purchase and/or upgrade to your ideal car at a lower EMI and receive up to 67% of the vehicle's repurchase value if you want to return the vehicle at the end of the loan term.

• Axis Bank Home Loan Interest Rates
• Axis Bank Gold Loan Interest Rates
• Axis Bank Personal Loan Interest Rates