Axis Bank Car Loan
With over 2589 domestic branches and over 12,000 ATMs across the country, Axis bank has four divisions: Treasury operations, Retail banking, corporate banking and wholesale banking. Axis bank has always aspired to be the preferred financial solution provider for consumers and their use of latest technology and reliable customer service has built trust in the finance industry.
Axis bank’s core values are customer eccentricity, ethics, transparency, teamwork and ownership. With such values in their daily perspectives, Axis bank has become a reliable financial source and has been a continuous holder of the ‘Best Loyalty program of the year’ award over the years.
Overview Of Axis Bank Car Loan
Axis bank provides car loans for almost all passenger vehicles including multi-utility vehicles and sports cars that are available in India and intended for personal use. There is no security or collateral required to avail Axis bank car loan and you can avail a car loan from Rs. 1 lakh onwards. Axis bank car loans are also lower than most banks and the EMI are tailored in a manner that it fits every pocket.
Axis Bank offers attractive discounts and offers from time to time to avail their car loan services. Axis Bank also has custom monthly EMIs set up for specific cars. For example, currently they have an exclusive offer on Tata Tiago wherein you can avail the car loan at an EMI of Rs. 1634 per lakh. The offer is valid till July 31st, 2016.
Why Pick Axis Bank Car Loan?
There are a number of factors that can help you choose Axis bank as your car loan provider:
- At Axis bank, you can get Loan up to 90% of the car value (ex-showroom price) on select models as the car loan value is calculated on the ex-showroom price of the vehicle.
- The car loan coverage at Axis Bank starts from as low as Rs. 1 lakh making it easily accessible to lower income group.
- You have the option to get the car loan tenure anywhere between 1 year to as high as 7 years as per your choice.
- Exclusive benefits available for Axis bank salary account holders, as well as Axis bank priority; wealth and privee account holders such as waiver of income proof and bank statements.
Features of Axis Bank Car Loan
Axis bank car loan has a lot of distinct features that can be found here:
- You can extend the car loan tenure up to 7 years with a minimum of 1 year as per your preference.
- At Axis Bank, the calculation for the car loan to be approved is based on the ex-showroom price, which ensures that your other miscellaneous costs get covered.
- Axis bank offers banking surrogate schemes for specific customer base.
- Salaried account holders get multiple benefits if they avail Axis bank car loan such as relaxed interest rates and
- Attractive interest rates of 11.00% - 12.00% that are inclusive of service tax.
Benefits of Applying Axis Bank Car Loan on Letzbank
Applying your car loan on Letzbank website has a number of benefits. First, you can compare the loan detail and bank offerings on our website all at once. This not only saves time and effort but also helps you select your preferred loan quickly by sorting the benefits of each bank. Secondly, at Letzbank, we gather Loan Quotes from different banks in a matter of seconds. Once you are sure of the bank you wish to avail the loan from, simply fill up our online form and let us help you get through the application process. And last but not the least, all of services are free of charge.
Axis Bank Car Loan Eligibility
The eligibility to avail Axis Bank Car Loan and the documents required is as follows:
For Salaried Individuals
- Minimum age should be 21 years and maximum age at loan maturity should be 70 years.
- Minimum net yearly income should be a minimum of Rs 2.40 lakhs.
- Should be employed with current company for at least an year.
- Identity Proof - Pan Card, Passport, Voter ID, Driving License.
- Income Proof – Latest salary slip or latest Form 16.
- Address Proof - Driving License, Ration Card, Voter ID, Passport copy, Phone bill, Power bill, Life Insurance policy (copy of any one of these).
- Bank statement of salaried account of last 6 months.
- Latest Income Tax Return or Form 16.
For Self Employed Individuals
- Minimum age - 18 years; maximum age at loan maturity -75 years.
- Minimum income slab should be Rs. 1.8 lakhsp.a. for select car models and minimum of Rs. 2 lakhs for other models.
- Employed in the same line of business for at least 3 years.
- Identity Proof - Pan Card, passport copy, Voter ID, Driving License.
- Proof of Income– Income Tax Return of last 2 financial years.
- Income Tax Returns or Form 16 of the last 2 years.
- Proof of Residence- Driving License, Ration Card, Voter ID, Passport copy, Telephone bill, Electricity bill, Life Insurance policy (copy of any one of these).
- Last 6 months bank statements.
- ITR for last 3 years and audited balance sheet.
Axis Bank Car Loan Interest Rates
Axis Bank Car Loan interest rates are fairly lower than most banks and range between 11% to 12% per annum.
Axis Bank Car Loan EMI Calculator
You can check Axis bank car loan EMI by using Letzbank EMI calculator on our website. enter the loan details such as loan amount, time period requested for loan and the rate of interest and our EMI calculator will quickly let you know your monthly EMI.