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  • Axis Bank Car Loan Eligibility Calculator is Rated as "Great!" by 4371 Users
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    Axis Bank Car Loan Eligibility Calculator

    Axis Bank Car Loan Overview

    Axis Bank, the third largest private sector bank in India, offers a host of banking products and services including car loans. It gives its customers a choice of three different car loans:

    • New car loans - You can get up to 85% funding. Axis bank offers 100% funding for corporate customer.
    • Pre-owned car loans - You can get up to 90% funding and tenures of up to 5 years.
    • Loan against car - Get up to 150% funding of the original loan amount. No valuation or verification of your car is required. You also don’t need to provide income documents.

    Axis Bank Car Loan Eligibility

    Car loans at attractive rates from Axis Bank are available to salaried individuals, self-employed, and non-individuals. There are special schemes for private, wealth and priority banking customers. Customers who have their salary credited to Axis Bank can also benefit from special schemes.

    Salaried individuals

    • You should be at least 21 years
    • You should not be more than 70 years at the end of the loan tenure.
    • You need a minimum net income of Rs. 2.4 lakhs per annum
    • You should be working continuously for a minimum of 1 year.

    Self-employed

    • You should be at least 18 years.
    • You should not be more than 75 years at the end of the loan tenure.
    • Your business should be earning a minimum net income of Rs. 1.8 lakhs per annum for selected models and Rs. 2 lakhs for all others.
    • You should be working in the same line of business for a minimum of 3 years.

    Firms/Companies and other non-individuals

    • Your business should be earning a minimum net income of Rs. 1.8 lakhs per annum for selected models and Rs. 2 lakhs for all others.
    • You should be working in the same line of business for a minimum of 3 years.
    • Apply for Car Loan Online

    Eligibility for scheme for Salary Customers

    If you had your salary being credited to an Axis Bank Salary account for the past three months, you are eligible for a special scheme on car loans.

    • You should be at least 21 years.
    • You should not be more than 70 upon loan maturity
    • You should be earning at least Rs. 2.40 lakhs per annum
    • You need to be employed for 1 year continuously.
    • Employees who are eligible should be working in any of the following:
      • MNCs
      • Public Limited Companies
      • Private Limited Companies
    • Or you should be a permanent employee in any of the following:
      • Central and State Government
      • Public Sector Undertakings
      • Reputed schools and colleges

    Eligibility for scheme for Priority/Wealth/Private Customers

    • You should be 21 years and above.
    • You should complete the loan by the age of 70.
    • You need to be earning at least Rs. 2.4 lakhs net annual salary.
    • You should be employed for at least 1 year continuously.
    • Customers should have a minimum average quarterly balance of Rs. 1 lakh for the last 2 completed quarters.
    • All priority, wealth and private customers with a vintage of 6 months
    • You can get a loan amount of up to 3 times the AQB in the last two quarters

    Factors affecting Axis Bank Car Loan Eligibility

    There are many factors that play a role in determining your eligibility for an Axis Bank car loan.

    • Your age can determine your eligibility if you are under 21 years. There are also terms and conditions that are applicable on loans where the tenure will be completed by the time the customer reaches 70.
    • Your income should meet the minimum requirements.
    • Holding other kinds of credit will reduce your eligibility. You may not get the ideal loan amount if you are currently already in debt. Debt such as credit card balances and personal loans can affect your eligibility
    • Credit scores are important when you take out a loan. A good CIBIL score makes a good impression on the banks and they will be happy to approve your loan. A low score has the opposite effect and you could face complications in the loan process or be denied completely. You could also get higher interest rates and more terms and conditions.

    How does CIBIL scores affect your Axis Bank Car Loan Eligibility?

    CIBIL scores are basically a track record of your credit history. CIBIL is the Credit Information Bureau India Limited. It records every individual’s behaviour when it comes to taking out credit from banks and financial institutions. When you opt for a credit card or any loan, CIBIL maintains a track of how you repay the loan and your defaults on payments, if any. It also records good patterns of paying on time, ahead of time and more than what is the minimum payment required. So CIBIL scores depict a picture of what kind of credit customer you might be. Sometimes credit scores can be low for a number of reasons you didn’t know about. It doesn’t always play fair, but in order to have a good score, we need to play by the system.

    Learn about CIBIL scores as they can greatly affect your future credit possibilities. High scores give banks an assurance that you are a good customer, and your loan process will be easy with minimal terms to it. An average score will still get you through a loan. You should maintain your score at around 750 points. A low score will hamper the loan process and you may even be rejected.

    How to increase your Axis Bank Car loan eligibility?

    You can increase your eligibility in a number of ways. You can also increase the loan amount you are eligible for.

    • Make your spouse or immediate family a co-borrower in the loan. You can add their income to the loan requirements and therefore enhance your eligibility.
    • Work towards increasing your credit score. Find ways to fix your score. You could also enquire into what made your score low and try to get it resolved.
    • Clear off any existing debt you might have. The more your clear, the more your debt-to-income ratio decreases.

    Axis Bank Car loan eligibility Calculator

    It’s easy to know if you’re eligible for a car loan from Axis Bank. There is an eligibility calculator on BankBazaar.com which is simple and fast.

    To use the calculator:

    • Access BankBazaar.com and select the product “car loans”
    • Follow the instructions and input your details as you go along.
    • Your results will be generated within seconds.
    • You can view more details about the loan and apply directly from BankBazaar.com.

    Car Loan Reviews

    • Axis Bank Car Loan
      "High charges and need to improve on services"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan from Axis Bank. The process is not that easy. I need to sign 60 pages. The rate of interest is also high, it was of 10.5%. The ECS deduction was usually on time. But there was once I faced a problem, though I had funds in my account they did not deduct the ECS and after which they took charges.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 16, 2018
    • Axis Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Axis bank,the loan amount is 9.07 lakhs,rate of interest is nominal as compared to other banks.The tenure is for four years.They had processed the loan and had disbursed in two days.They had deducted processing fees of 8000 including insurance charge.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 13, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Axis bank and my loan experience was very good. The process was quite smooth and i received my loan amount within the given time. The loan amount was for Rs 6.5 lakhs with the rate of interest of 8.9% which is less when compared to other banks. I have a tenure period of 5 years and the customer service responded on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2018
    • Axis Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have arranged the required loan amount from other source , so that was the reason I haven't processed with the axis bank car loan. The customer support service was good with the axis bank. The rate of interest of interest was average with the axis bank car loan services.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 08, 2018
    • Axis Bank Car Loan
      "Service is good "
      0.5 5.0/5 "Blown Away!"
      Within 2 days of time I have got the car loan from the axis bank. The verification and the documentation was done in a prompt way. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are average with the Axis bank car loan services.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 08, 2018
    • Axis Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I was getting more attractive interest rates from the other banks, so that was the reason I haven't got the car loan from the Axis bank. The customer support gave me good response in regards to my car loan application, but they couldn't match my requirement.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 08, 2018
    • Axis Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have postponed the car loan plan at present so that was the reason I haven't got the car loan from the axis bank. The customer support and the response was good with the axis bank. They never explained me about the interest rate about the car loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 08, 2018
    • Axis Bank Car Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      I haven't got the axis bank car loan because, I was receiving the calls from them in regards to my car loan application. Their executives were calling me to take up the loan , so that was the reason I haven't got the car loan from the axis bank. when customer tells , he don't wants the calls back then they should not disturb.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 08, 2018
    • Axis Bank Car Loan
      "Need to be transparent"
      0.5 3.0/5 "Satisfactory"
      Initially the Axis bank promised that they will approve the loan amount of Rs,7,00,000 ,but they approved the loan amount Rs,5,40,000, which lead me in disappointing situation, so that was the reason I haven't got the car loan from the Axis bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 08, 2018
    • Axis Bank Car Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      The product explanation was not good and they haven't fulfill the requirement and the executive is not up to the mark with the Axis bank. The service part need to be improved with the axis bank. The service has to be in a professional way from the axis bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 07, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't got the car loan from the axis bank because the rate of interest which was offered by axis bank was high when compared with others banks, it would be good if they can reduce the interest rate as per the other banks. The customer support was good with the Axis bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 07, 2018
    • Axis Bank Car Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have the car loan with the Axis bank and the interest rate is around 9.65% and the customer service is good one for me. Every aspects are better one with the Axis bank. Disbursement also got happens on the immediate manner with the Axis bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 07, 2018
    • Axis Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The axis bank was prompt in their response part and they have disbursed the car loan within 10days of time. The customer support is good with the axis bank. The requested loan amount has been approved and I am satisfied with it. The rate of interest is average when compared with other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have got the car loan from the other bank, so that was the reason I haven't got the car loan from axis bank. The customer support of axis bank gave me average response. They need to be improve with their response part. The rate of interest and the charges are average with the Axis bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 06, 2018
    • Axis Bank Car Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      I have approached AXIS bank for my car loan . The Interest rate was bit high than HDFC bank so I have cancelled and taken with HDFC itself. The customer service and responses was up to the mark. My overall experience was not satisfactory so I would not recommend also.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 06, 2018
    • Axis Bank Car Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I have approached AXIS bank for my car loan. The loan amount was 6.8 lakhs and the rate of Interest was very high than other banks. The tenure period was 7 years . The customer service and responses was up to the mark. My overall experience was very good and this bank is very much recommendable.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 06, 2018
    • Axis Bank Car Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have approached AXIS bank for my car loan . The loan amount I was 7 lakhs and the Interest rate was 8-9% which is average in the market . The customer service and responses was up to the mark. I have not submitted the documents since I have not finalized the card so I have not taken the loan here .My overall experience was very good.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 06, 2018
    • Axis Bank Car Loan
      "Car loan from AXIS"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan from AXIS bank and the approved loan amount was 6.6 lakhs. The rate of interest was 8.5% with a monthly EMI of 10000. There was some processing fee and charge around 1500.There was Lot of miscommunication regarding the documents, they have not clearly mentioned the documents, and about the insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 01, 2018
    • Axis Bank Car Loan
      "Overall no hassles"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from Axis bank. It was not a hassle to get the loan through. The paper work was smooth. I also got a good deal on the interest rate and charges. The after loan services are also good. The customer support team was helpful in the process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 31, 2018
    • Axis Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      It was a great experience with Axis Bank on car loan. I am satisfied with the rate of interest. I took around 9.5L with the interest rate of 8.5%. There was no issues. I have purchased PUV 300. The part payment and preclosure option is good. The documents are collected by the executive.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 25, 2018
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