- How can I find my Axis Bank Car Loan Status online?
Axis Bank car loan customers can track applications made on Bankbazaar.com through SMS alerts and mails. Axis Bank car loan status can also be checked online through the Axis Bank portal.
- Where can I find the Axis Bank Car Loan Application Form?
Customers can apply for a car loan online through the Bankbazaar website or the Axis Bank website using the online Axis Bank car loan application form.
- Is it possible to check the Axis Bank Car Loan Statement Online?
Yes, borrowers can get their car loan statements through the Axis Bank online banking portal.
- Can I make part - prepayment and if so what are the Axis Bank Car Loan Prepayment Charges ( Pre Closure Charges)?
Yes, you can make a part-prepayment towards your Auto Loan. Part payment Charges are 10 % of the part payment amount up to 180 days from date of disbursement and after 180 days 5% charge would be levied from date of disbursement.
- How do I contact Customer care for more details on Axis Bank Car Loan?
Our dedicated and qualified team of customer care executives are available at xxxxxxxxxx and will be happy to assist customers with any queries regarding Axis Bank car loans.
- What are the documents required for availing a car loan through Axis Bank ?
List of documents required are :
- Proof of Age
- Identity proof
- Duly filled application form
- Photograph of applicant
- Proof of residence
- Income proof
- Latest Bank statement
- Signature verification proof
- Rate List or Pro-forma Invoice
Post Sanction / Pre Disbursement Documentations required are :
- The duly signed Loan Agreement along with RTO set.
- Request for Standing Instruction (SI) or ECS form or post dated cheques (PDCs). Security Cheques are required for SI and ECS.
- Margin money receipt.
- How to apply for an Axis Bank Car Loan?
You can use any of the following methods to apply for a car loan from Axis Bank.
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You can apply online on the Axis Bank website.
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You can visit any Axis Bank Loan Center. A list of the centers is available on the Axis Bank Website.
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You can also call the customer care center on the Axis Bank toll free lines.
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Axis Bank also provides an SMS service. Send “Car” to XXXXXXX to start the process.
- What is the minimum loan amount I can get from Axis Bank?
Axis Bank offers a minimum of Rs. 1 lakh to purchase a car.
- What is the maximum loan amount I can get with an Axis Bank Car Loan?
The maximum loan amount you can get from Axis Bank to buy a car will depend on your eligibility criteria. The bank will also take into consideration the finance requirements, your income and repayment capacity.
- What is the minimum loan tenure?
Axis Bank offers car loans with repayment tenures starting from 12 months.
- What is the maximum loan tenure?
Axis Bank offers car loans with flexible repayment tenures that can be extended to a maximum period of 60 months.
- What is the interest rate on Axis Bank Auto Loan?
Axis Bank charges 11.00% - 12.00% as interest. The interest rates offered are fixed.
- Are there any processing fees on Axis Bank Car Loans?
Yes, Axis Bank levies processing fees within the bracket of Rs. 3,500 to Rs. 5,500 which is inclusive of tax. You also need to pay Rs. 300 as documentation charges. Processing fees are kept transparent and to a minimum.
- What are the charges for late payment?
Axis Bank will charge 2% per month for late payments.
- Can I preclose my car loan?
Yes, you are allowed to foreclose your car loan. You can submit a request for preclosure at any Axis Bank Loan center.
- Are there any foreclosure fees on the car loan from Axis Bank?
Yes, Axis Bank will levy 5% of the outstanding principal amount + service tax.
- Does Axis Bank allow part payments on the car loan?
Yes, you can make part payments on your car loan but this will be allowed only twice in a loan calendar year. You can make only one part payment in the loan calendar month. The minimum amount needs to be equal to one EMI. The maximum part payment allowed is 25% of the principal balance in one year.
- Are there any charges for part payment?
Yes, 5% of the Part Payment amount plus service tax will be charged as part payment fees.
- What is the penalty for bounced cheque?
Rs. 500 is charged per bounced cheque.
- How do I repay the loan? What are the options to pay EMIs?
You can make payments towards your loan EMIs in the following ways.
Post-dated cheques - You can handover post dated cheques to the nearest Axis Bank Loan Center. Only non-Axis Bank account cheques will be accepted. This option is available only in non-ECS locations. Subsequent sets of post dated cheques should be submitted on time.
Electronic Clearing Service (ECS) - This service is available for customers to make payments from non-Axis Bank accounts. EMIs will automatically be deducted from the account on the EMI Due Date.
Standing Instructions - Axis Bank customers who hold a savings, current or salary account can use this option. Non-Axis Bank customers can choose to open a savings account to avail of this facility. The EMI amount will automatically be deducted from this account, so make sure it is sufficiently funded by the due date.
- Can I check the status of my loan application online?
Yes, you can visit the Axis Bank website to check your loan status. Select loans and click on “Have/Applied for an Axis Bank Loan”. You can then click on “Check your loan status online”. Fill in your Application ID and click on “Enquiry” to know the status of your car loan.
- Where can I get a Car Loan Application form?
You can visit an Axis Bank Loan center to procure this form. You can also get a sample copy of all car loan application forms online on the Axis Bank website. Select Products > Loans > Car Loans > How to apply.
- For what kind of vehicles does Axis Bank provide car loans?
You can avail of car loans from Axis Bank to finance passenger cars, sports utility vehicles (SUVs), and multi-utility vehicles (MUVs) that are purchased for personal use and available in India.
- What is the process of loan verification?
After you have submitted your loan application and required documents, Axis Bank follows the procedure below.
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Processing and approval of the application form.
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Verification of documentation.
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Sanctioning the loan.
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Disbursement of the loan.
- How long does the car loan process take?
Axis Bank takes up to 30 working days to make a decision and convey this information to you. This time period is calculated from the date of receipt of your application form which is complete and all documentation required. If the form is incomplete, or the documents needed for a proper appraisal has not been submitted by the customer, this period could be extended.
- What security is acceptable to Axis Bank to get a car loan?
In the case of Axis Bank Auto Loans, the car itself will serve as security. You need to hypothecate the vehicle to the bank for the period of the loan. No other collateral is needed.
- How do I remove the hypothecation on the vehicle after I have repaid the loan?
After you have repaid your loan, Axis Bank will guide you through the process of removing the hypothecation. Axis Bank will provide you with the following documents.
You need to approach your Regional Transport Office (RTO) and submit these documents. A fee for the hypothecation removal from the Registration Certificate will be charged.
- How do I change my email address in my car loan account?
You can change or update your address in the car loan account by calling the Axis Bank toll free numbers. Simply inform them to make the change. Alternatively, you can send an email to [email protected] from your registered email ID.
- How do I change my phone number in my Axis Bank Car Loan Account?
You can change your phone number following the same procedure as changing your email ID. You can call the Axis Bank toll free numbers and inform them to make the change. Alternatively, you can send an email to [email protected] from your registered email ID.
- How do I contact the Axis Bank Customer Care for car loan queries?
You can call the following number toll free to contact the Axis Bank customer service.
1800 233 5577
1800 209 5577
1800 103 5577
You can also email them at [email protected]
- How I track my loan progress or repayment schedule?
You can track your loan account by placing a request for Statement of Account or Repayment Schedule. You can also request for an interest certificate. Contact the customer care via phone or email to place this request. You can also visit an Axis bank Loan Center to get this information.
- What is the income requirements for Axis Bank Car Loan?
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For salaried individuals, you need to be earning at least Rs. 2.4 lakhs per annum.
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Self employed individuals should be earning at least Rs. 2 lakhs per annum. This is reduced to Rs. 1.8 lakhs on selected models.
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Self-employed non individuals should be earning at least Rs. 1.8 Lac p.a. for selected models and Rs. 2.0 Lac p.a. for others.
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Under the special schemes for Priority/Wealth/Privee Customers, a minimum Average Quarterly Balance of Rs. 1 lakh for the last 2 quarters completed is required.
- What are the documents required for a Axis Bank car loan application?
You need to submit the following documents along with your car loan application.
- Are there documents required to be submitted after the loan is sanctioned?
Yes, you need to submit the following documents post sanction and before disbursement.
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Duly signed loan agreement along with RTO set.
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Margin money receipt.
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Payment documents - Request for Standing Instruction, ECS Form, Post-dated Cheques.
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3 post dated Security Cheques are required for SI and ECS.
- Do I need my CIBIL score to apply for an Axis Bank Car Loan?
Since a car loan is a secured loan, your CIBIL score might not be absolutely required. But CIBIL scores help get your loan approved and fetch you good interest rates. You can purchase your score on the CIBIL website for Rs. 500. Banks usually prefer a score of 750 and above.
- Can I cancel my loan application before it is sanctioned or disbursed?
Yes, you are allowed to make a cancellation on your loan application. However, Rs. 1,000 will be charged for cancellations. Additional charges can include stamp duty charges and interest accumulation.
