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  • Axis Bank Car Loan Eligibility Calculator is Rated as "Great!" by 4387 Users

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    Axis Bank Car Loan Eligibility Calculator

    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
      "Very good service"
      0.5 4.0/5 "Great!"
      I have taken this loan a very long time back and it has been closed now. I overall had a very good experience banking with them. There was nothing special in the fees and charges and the rate of interest, it was as per the market rates and it was normal. Even i was satisfied with the loan amount and the premium amount which they had provided me.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 13, 2018
    • Axis Bank Car Loan
      "Good Service no Follow up"
      0.5 3.0/5 "Satisfactory"
      I took a Car loan from Axis bank which was almost 29 Lacs. The whole application process was good, and the agent helped me to get the loan sanctioned. Even after such a huge transaction, they never followed me up regarding any promotions and gift vouchers which is very frustrating.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 11, 2018
    • Axis Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with AXIS bank, the loan amount was based on my requirements and the rate of interest was nominal when compared to other banks. They charge 2% of the principal amount for preclosure and the tenure period of this loan is 4 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 02, 2018
    • Axis Bank Car Loan
      "Car loan from AXIS bank"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan from AXIS bank and the approved loan amount is 2.4 lakhs. The rate of interest for the loan amount is 14% and the monthly EMI is 8300 for 3 years. The customer service and response regarding the loan was really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • Axis Bank Car Loan
      "Perfect service"
      0.5 5.0/5 "Blown Away!"
      I got the car loan from AXIS BANK around a year ago. The customer support service is good with the AXIS BANK and they give good response to the customers. The rate of interest and the charges are average as per the market. This loan has the tenure of 5years and still 4 years left to close the loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 12, 2018
    • Axis Bank Car Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      Axis Bank was also good in the process for the car loan. I have also closed the loan. I had no hassles to get it and the process was smooth and easy and the documentation was also good. The interest rate and charges was also normal. I did not have issues overall.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 11, 2018
    • Axis Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Axis bank and my loan experience was good, the loan amount was less than Rs 6 lakhs with nominal interest rate when compared to all other banks. The process was smooth and the loan amount was sanctioned on time. The tenure of this loan is 5 years and the customer service was prompt.
      Was this review helpful? 0
      , greater noida
      Reviewed on Apr 05, 2018
    • Axis Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have also taken my car loan from Axis Bank. The process to get the loan was smooth and easy and the customer services are good. They been responsive and the documents was taken on time. The rate of interest and processing charges was normal and no hassles.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 23, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan with Axis bank and my loan experience was very good. The loan amount was for Rs 2.75 lakhs with nominal rate of interest when compared to all other banks. The process was smooth and i received my loan amount on time. Customer service was very good and the tenure of this loan is 5 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 22, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience with Axis bank is very good, the loan amount was for Rs 4.5 lakhs with the nominal rate of interest when compared to all other banks. The process was quick and i received my loan a amount on time. Customer service was good and they followed up on time. The tenure of this loan is 5 years and i am happy with the service.
      Was this review helpful? 0
      , jaipur
      Reviewed on Mar 15, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have got the car loan from the axis bank. I got the loan around 5 years ago. I have got the loan amount as per the requirement and I am satisfied with it. The rate of interest and the charges are average with the axis bank car loan. Overall, I would say, I am satisfied with the car loan services.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 12, 2018
    • Axis Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Axis car loan service is good. The customer support is good with Axis car loan service. The rate of interest is nominal compared to the market value. The documents have been collected from my door step. It is a good experience with Axis car loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 05, 2018
    • Axis Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have my car loan with AXIS Bank. The loan amount was 7.6 lakhs and the Interest rate was 8.55% which is average in the market. The tenure period was7 years . The loan process was really good and they have sanctioned the the loan with the committed time. My overall experience was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 27, 2018
    • Axis Bank Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The rate of interest offer by Axis car loan department is 9.6 %. The documents procedure was been very easy. The process was been very fast and they approved the loan on time without any delay. The staffs are friendly ,it is a good experience with Axis car loan department for my Maruthi Celario car.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 27, 2018
    • Axis Bank Car Loan
      "Better service"
      0.5 4.0/5 "Great!"
      I have taken a Car loan with Axis bank,the total tenure is fort five years ,its still active i pay my EMI amount through online.The rate of interest is nominal as compared to others.The loan amount is 3.5 lakhs.I submitted documents door step.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 26, 2018
    • Axis Bank Car Loan
      "Hassle Free Experience"
      0.5 4.0/5 "Great!"
      I closed car loan with AXIS, it was a good experience. I took the loan amount of Rs. 3 lakhs, I done Rs.1.25 lakh of foreclosure with some interest on the principal. They gave me NOC certificate on time. Without any hassles I got my loan and closed it on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 22, 2018
    • 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
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