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:
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.
Firms/Companies and other non-individuals
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.
There are many factors that play a role in determining your eligibility for an Axis Bank car loan.
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.
You can increase your eligibility in a number of ways. You can also increase the loan amount you are eligible for.
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:
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