If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • Axis Bank Car Loan Eligibility Calculator is Rated as "Great!" by 4307 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
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from Axis bank, my loan application was closed because i have taken a car loan from other bank. When it comes to customer service, it was good, they responded on time, the only issue was with the preclosure charges. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 18, 2017
    • Axis Bank Car Loan
      "Fast approval"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken with Axis bank. They are providing good service and giving the best offers. They charged 5 % for pre closure which they didn't inform to me. It was on time and the process was very easy. Documentation process is very simple. The representative was very kind and helpful.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Axis Bank Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from Axis bank, my loan application was closed because there was no requirement of loan as of now. When it comes to customer service, it was good and they responded on time. The rate of interest is very high when compared to all other banks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2017
    • Axis Bank Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the car loan from Axis bank, my loan application was closed because the rate of interest was high when compared to all other banks. Customer service part was fine, there was no issues with them, they gave a proper response and also followed up on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2017
    • Axis Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My car loan application got closed due to some reasons, the Person who has collected my documents made delay in regards to car loan application The customer support was average with Axis bank. The rate of interest which they have offered was high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2017
    • Axis Bank Car Loan
      "Better banking"
      0.5 3.0/5 "Satisfactory"
      I have requested for a car loan from Axis bank.The loan amount is 6 lakhs i had requested,later dropped the plan,may in future i might apply from the same bank if they give good rate of interest.I feel rate of interest is little high in axis bank compared to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2017
    • Axis Bank Car Loan
      "Not satisfactory"
      0.5 2.0/5 "Expected more"
      The executive has didn't turn up to collect my documents, there was a delay. So i have processed with HDFC Bank. They need to improve the service and has to be more quick in collecting the documents.The rate of interest is nominal, offered me 9.5%
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • Axis Bank Car Loan
      "Not bad"
      0.5 3.0/5 "Satisfactory"
      I have approached AXIS Bank for my car loan . The rate of interest was 10% which was very high than other banks. The customer service ad responses was up to the mark. My overall experience was not bad and I would like to recommend to my friends and others.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2017
    • Axis Bank Car Loan
      "Average Service"
      0.5 2.5/5 "Just OK"
      I have approached AXIS bank for my car loan. The customer service and responses was satisfactory. SBI's benefits are really good than AXIS bank so I have cancelled my application here. The interest rate was 10% which was very high in the market so My overall experience was average here.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • Axis Bank Car Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have approached AXIS bank fir my car loan. They required certain documents for NRI which I could not provide so I have cancelled the application. The rate of interest was 155 which was very high for 5 lakhs SO My overall experience was satisfactory
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 14, 2017
    • Axis Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have approached AXIS bank for my car loan. The customer service and responses was satisfactory but I have cancelled the application since the car company executive said that they can do finance in house . The interest rate was 8.75 which was bit high than other banks . My overall experience was good here.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • Axis Bank Car Loan
      "Foreclosure option is costly."
      0.5 4.0/5 "Great!"
      Even though it was just an inquiry with Axis Bank in regards to my Car Loan, I got a good insight about the product, To start of their communication with me was good. But I felt their Rate of Interest was a little high and also their Foreclosure charges are high, I got a better deal from another Bank.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 11, 2017
    • Axis Bank Car Loan
      "Best banking"
      0.5 5.0/5 "Blown Away!"
      I had applied for car loan with Axis bank.The loan had requested is eight lakhs.Rate of interest they had offered me is nominal compared to other banks.The executives had responded on time to share the status of the application.overall had a good experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 11, 2017
    • Axis Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      There was no proper response from AXIS for my car loan service they never called me from the date I applied for my loan there is no proper information have been provided from AXIS it was totally a good experience with AXIS for my car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 11, 2017
    • Axis Bank Car Loan
      "Satisafctory"
      0.5 4.0/5 "Great!"
      I have my car loan with AXIS Bank . The loan process was not bad. The loan process was 6.5 lakhs and the interest rate was 8-9% which was average in the market. They have to improve their customer service and responses. They have sanctioned the loan amount and My experience was satisfactory .
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • Axis Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I had applied for a car loan with Axis bank.I had requested for eight lakhs.however banks has promised me to give 5.50 lakhs rate of interest they did not share it with me ,had collected documents its been almost two weeks,did not receive any communication about the status of the application not satisfied with service of the bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • Axis Bank Car Loan
      "Average service"
      0.5 1.5/5 "Bad"
      I had applied for a car loan with Axis bank.The loan amount is 10 lakhs.Rate of interest is 8.7% nominal as compared to others.The executives called me for documentation,unable to provide as i don't have a salary slip hence closed the application.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 10, 2017
    • Axis Bank Car Loan
      "Customer's Friendly and hassle free"
      0.5 5.0/5 "Blown Away!"
      I am satisfied with AXIS bank, they gave me good service and offers. The executive who handled my car loan procedure they were very coordinative and gave me clear information. They fulfilled my need on time to purchase Wagon R car, I am happy about the interest rate of car loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 10, 2017
    • Axis Bank Car Loan
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      I was opt for the used car, because of my financial issue. Hence I changed my mind and purchased used car through own source. I don't have issue with the AXIS, the bank is ready to sanction the car loan with good interest rate for the new car loans.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 09, 2017
    • Axis Bank Car Loan
      "Loan process should be faster"
      0.5 3.0/5 "Satisfactory"
      I was looking for immediate respone from AXIS bank for the car loan. But they have reached me very delay, bank have taken long time to get back. Even AXIS interest rate is also nominal as per the market. Because of that reason I took other source. I would like to suggest as soon as they received the request, AXIS should reach the customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 09, 2017
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