With the arrival of different car segments in the Indian market, and the rise in disposable income of individuals; more and more people look for a car upgrade every two years or so. This has led to a huge used-car market, which has its own audience as not everyone desires a brand new car or can afford one.
This huge popularity in the used car segment has led banks and independent financial institutions to offer used car loans to attract their audience. Axis bank is one such bank that offers used car loan.
Overview of Axis Bank Used Car Loan
Axis bank is the third largest private sector bank that offers financial services to large, mid-sized companies, mid-sized corporates, SMEs and retail businesses. The bank also offers financial services to millions of customers in India via loans, banking products and much more. Axis bank offers used car loans with easy funding options to help you get the car you want.
Why Pick Axis Bank Used Car Loan?
- Maximum Funding – Get upto 90% funding of the total car valuation amount with a minimum funding of Rs. 1 lakh.
- Thorough Transfer Support– Axis bank has tie-ups with car dealers all over India for full transfer support.
- Extended Tenure– Get used car loan for upto 5 years.
- Low Interest Rates– Axis Bank used car loan interest rates start at only 15% per annum, which is comparatively lower for the used car loan.
Benefits of Applying Axis Bank Used Car Loan on Letzbank.com
- Wide Loan Selection– Letzbank is a one stop shop for all financial needs. You can choose from a variety of loan offerings at one place without having to visit different bank websites.
- Compare Loans– Easily compare loans offered by different banks with the simple filter tool according to your choices and requirements.
- Service Charge Waiver– Get the service charge waived off that is applicable on all loan applications when you apply for a loan directly at Letzbank website.
- Quick Apply feature– If you are in a hurry or unsure which is the best loan choice for you, rely on Letzbank to help you choose. Simply click on the Quick Apply button and enter a few basic details and a Letzbank representative will contact you.
- EMI calculator– Calculate your loan EMI with ease with the help of Letzbank’s EMI calculator tool that only needs the loan amount, interest rate and loan tenure to calculate the EMI for you.
- Efile IT Returns– Amongst the various services offered by Letzbank, you can file your income tax returns online with a click of a button. As some loans require filing of income tax returns as a mandate, this feature comes in handy.
- Check your Credit Score online– Check your credit score before applying for a loan to know your eligibility and your credit health at Letzbank website.
- Document Locker– Document Locker is a great tool offered by Letzbank that allows you to store your important documents online with utmost security and protection. This is useful when you need to apply for different loans and services on Letzbank and you can easily submit the documents online without much hassle.
Axis Bank Used Car Loan Eligibility
Axis bank used car loan is offered to salaried, self-employed individuals and self employed non-individuals.
- Minimum Income– For salaried the minimum income should be atleast Rs. 2,40,000 per annum. For Self employed individuals/non-individuals, it should be atleast Rs. 1.8 lakhs for some car models or Rs. 2 lakhs per annum for the rest.
- Age– Minimum age is 21 years for salaried, 18 years for self employed individuals and the maximum age is 70 years for salaried and 75 years for self employed.
- Employment– Salaried people must be employed for a minimum of one year while the self employed for a minimum of 3 years.
Axis Bank Used Car Loan Interest Rates
Get loan upto Rs. 12 crores with an interest rate of 14.50 % to 16.25% per annum only at Letzbank.