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

    Axis Bank offers four car loan schemes at interest rates as low as 9.15% p.a. going up to 17% p.a. The Axis Bank New Car Loan can be availed to finance 100% of your dream car with loan tenure options from 1 year to 8 years. Axis Bank offers separate loans for new cars and used cars. It also offers a loan scheme wherein you can pledge your car and get 50% of its value that can be used for any personal expenditures.
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    We found 1 Axis Bank Car Loan
    Bank Name
    Interest Rate Range/Lease rental range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% - 11.50% Fixed
    Up to ₹5,500
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Axis Bank Car Loan is Rated as "Great!" by 4472 Users

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    Axis Bank Car Loan Interest Rates 2019

    The table below shows a comparative study of the interest rates, loan amount, loan tenure, and processing fee of the four loan schemes offered by the bank.

    Car Loan Type Interest Rate Loan Amount Loan tenure Processing Fee
    Axis Bank New Car Loan 9.15% to 11.50% p.a. Rs.1 lakh to 100% of the on-road price of the car 12 months to 96 months Rs.3,500 to Rs.5,500
    Axis Bank Pre-Owned Car Loan 14.90% to 17% p.a. Rs.1 lakh to 85% of the car’s value 12 months to 60 months Rs.6,000 or 1% of the borrowed loan amount
    Axis Bank Loan against Car 14.90% to 17% p.a. Minimum Rs.1 lakh to 50% of the original value of the car 12 months to 60 months Rs.6,000 or 1% of the borrowed loan amount
    Axis Bank Balance Transfer and Top Up Car Loan 14.90% to 17% p.a. Rs.1 lakh to 150% of the original loan amount 12 months to 60 months 1% of the loan amount

    Axis Bank Car Loan Schemes

    • Axis Bank New Car Loan: This loan scheme can help you finance up to 100% of the on-road price of a brand-new car. The loan tenure options are varied and flexible. Special benefits are provided for priority banking.
    • Axis Bank Pre-Owned Car Loan: This scheme allows you to buy a pre-owned car by financing up to 85% of the value of the car. The application and approval processes are quick. Complete transfer support is provided.
    • Axis Bank Loan against Car: You can choose to provide your car as security to get a loan to take care of your personal financial commitments. It’s a cash loan facility and privileged customers can get pre-approved offers too.
    • Axis Bank Balance Transfer and Top-Up Car Loan: You can use this loan scheme to finance 150% of the value of the car you wish to buy. You can use the loan amount provided to meet any financial need you may have. Special benefits are provided to priority bankers.

    Axis Bank Car Loan Interest Rate

    The interest rate for the New Car Loan ranges from 9.25% to 11.5% p.a. and is comparatively lower than that of the other car loan schemes offered by Axis Bank. The interest range for Pre-owned Car Loan, Loan against Car, and Balance Transfer and Top-Up Car Loan is from 14.90% to 17% p.a.

    The interest rate offered to you by Axis Bank depends on many factors, some of which are mentioned below:

    • Value of the car
    • Loan amount chosen
    • Loan tenure chosen
    • MCLR fixed by the bank
    • Loan scheme chosen
    • Repayment capacity of the applicant

    Axis Bank Eligibility for Car Loan

    • The loan applicant should be at least 18 to 21 years old
    • Salaried as well as self-employed individuals can apply for the loan
    • The minimum income requirement of Rs.1.8 lakh to Rs.4.4 lakh p.a., depending on the profession, should be fulfilled
    • Salaried individuals should have worked for at least 1 year and self-employed individuals for at least 3 years in the same line of business
    • Government employees can also apply for the loan

    Axis Bank Car Loans for Existing Bank Customers and New Customers

    Any new customer who fulfils the eligibility criteria laid down by the bank can apply for any of the car loan schemes offered by Axis Bank. The bank also offers pre-approved loans to existing customers with excellent interest rates, minimal documentation, and faster processing. Usually, pre-approved loans are offered to existing auto loan customers of the bank.

    Documents Required to Apply for Axis Bank Car Loan

    A few documents that you may have to submit to avail a car loan from Axis Bank are as follows:

    • Duly-filled and signed application form
    • Proof of age
    • Proof of identity
    • Photographs
    • Proof of residence
    • Income proof
    • Signature verification proof
    • Pro-forma invoice/Rate list
    • Bank statements
    • Car valuation report
    • RC copy (applicable only in case of refinance)

    Further, after your loan is sanctioned and disbursed, you may have to submit the following documents:

    • Duly-signed loan agreement with the RTO set
    • ECS form/Standing Instruction request/post-dated cheques

    Factors Affecting Axis Bank Car Loan EMI

    The EMI payable by the borrower is determined by several factors, some of which are mentioned below:

    • Loan amount: A part of the loan amount needs to be returned each month. If the loan amount is high, the EMI will also be high because a larger amount will have to be paid.
    • Interest rate: Along with the loan amount, an additional amount is required to be paid each month. This amount is determined by the interest rate. Hence, higher the interest rate, higher the EMI.
    • Loan tenure: If you wish to repay the loan as soon as possible, you will have to pay larger chunks of the principal loan amount. Thus, the EMI will be higher if you choose a shorter loan amount.

    FAQs

    1. Does Axis Bank allow part-payments?
    2. Yes, you can make a part-prepayment towards your car loan.

    3. How to apply for an Axis Bank Car Loan?
    4. A few channels through which you can apply for a car loan from Axis Bank are as follows:

      • Through the official website of the lender.
      • Through a trusted third-party financial services website like BankBazaar.
      • By directly visiting the nearest branch of the lender.

      It is easy to apply for a car loan online since you can complete the application process from anywhere and at any time. The process is also completely secure, and your details will not be shared with other parties.

    5. What is the maximum loan amount I can get with an Axis Bank Car Loan?
    6. 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.

    7. Can I pre-close my car loan?
    8. Yes, you are allowed to pre-close your car loan. You can submit a request for preclosure at any Axis Bank loan centre.

    9. Where can I get a car loan application form?
    10. The loan application form will be available at all branches of the lender. If you wish to apply for a car loan online, you will need to fill up and submit the online application form.

    11. What is the process of loan verification?
    12. After you have submitted your loan application and required documents, Axis Bank follows the procedure below.

      • Processing and approval of the application form
      • Verification of documentation
      • Sanctioning the loan
      • Disbursement of the loan
    13. How long does the car loan process take?
    14. Axis Bank processes car loan applications in a timely manner, provided that you have submitted all the required documents. If the application form is incomplete or the documents needed for a proper appraisal have not been submitted by the customer, the lender may take longer to process your loan.

    15. What security is acceptable to Axis Bank to get a car loan?
    16. In the case of Axis Bank Auto Loans, the car will serve as security. You need to hypothecate the vehicle to the bank for the period of the loan. No other collateral is needed.

    17. Do I need my credit score to apply for a car loan from Axis Bank?
    18. Since a car loan is a secured loan, your credit score might not be required. However, credit scores help get your loan approved and fetch you a good interest rate.

    19. Can I cancel my loan application before it is sanctioned or disbursed?
    20. Yes, you are allowed to make a cancellation on your loan application. However, the bank may levy a penalty for the same.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Axis Bank Car Loan Reviews

    • Axis Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I took a Car loan from the AXIS BANK . The loan application process is very fast with in few days the loan amount was credited to the account. Overall th whole process was quick and hassle free. The tenure period is sufficient and loan amount is satisfactory .
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 12, 2019
    • Axis Bank
      Axis Bank Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the car loan with the AXIS BANK where the documentation process was simple and easy to get the loan also the loan amount given with this bank was good also i am using it since from last 5-6 years. The rate of interest given with this loan was nominal also the customer support is good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 31, 2019
    • Axis Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for Car loan directly with Bank 4.6lakhs for the tenure of 5 years ,The model is 2013 ,car name is Maruti Suzuki swift I have got the loan amount on time The ,rate of interest and processing fee was not sure since taken long back and closed the loan and it was 12% interest rate .
      Was this review helpful? 1
      , bangalore
      Reviewed on May 29, 2019
    • Axis Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Car loan from Axis Bank recently and the experience has been really good. The process in getting the loan did not took much time and they offered me with a good interest rate, They did not made any sort of extra charges and i am satisfied.
      Was this review helpful? 1
      , chennai
      Reviewed on May 22, 2019
    • Axis Bank Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I had taken my Car loan from AXIS Bank a long time back and the experience has been okay. The process had not taken much time but the interest rate with them had been quite high when compared with the market rate. Their customer support team was pretty much helpful and they had always been responsive.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 14, 2019
    • Axis Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken Tractor loan from long time, the loan amount was sufficient, the rate of interest they have charged me was nominal, they have charged me up to 15.5% even their processing fee they have charged me minimal, the loan came on time, so far i did not face any issue in getting loan, still this loan is running.
      Was this review helpful? 1
      , chennai
      Reviewed on May 14, 2019
    • Axis Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with Axis bank,they have given me sufficient loan amount as per the car price and their rate of interest they have charged me was nominal for me and their processing fee they have charged me nominal only. They gave loan on time, so far i did not face any issue, still this loan is running.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 13, 2019
    • Axis Bank Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have applied for the car loan with the AXIS BANK where the documentation process was simple and easy to get the card added on that i got the loan on time without any issues. I got the loan on time also the rate of interest was nominal and convenient to get the loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 10, 2019
    • Axis Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with Axis bank for while,they have given me sufficient loan , i got loan within 2 hours their process is too instant and good and the rate of interest they charged in this loan was nominal and their service was good.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 05, 2019
    • Axis Bank Car Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I took one four wheeler loan from AXIS bank last seven month bank , I have mahindra bolero , 2018 model , and my loan amount is 8L , and tenure is 3 years , rate of interest is high 9.35, and EMI amount is 25k, processing fee is also high I paid 7500k, their customer service is not good , I am not satisfied with this loan ,
      Was this review helpful? 0
      , mumbai
      Reviewed on May 03, 2019
    • Axis Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Car loan from AXIS BANK a while back and the experience i had with them has been good. The process did not took much time and the loan amount was good as well. The interest rate with them had been nominal and the charges which they had made also had not been high. Their customer care services has also been good where they had made some follow ups.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 03, 2019
    • Axis Bank Car Loan
      "Best"
      0.5 4.0/5 "Great!"
      I have taken a Car loan in Axis Bank and I had preclosed the loan before 3 months. The charges are reasonable. I made down payment of 20% and remaining has been provided by the bank on a very right time. The customer service is excellent. The documentation process was very very simple.
      Was this review helpful? 0
      , nasik
      Reviewed on May 02, 2019
    • Axis Bank Car Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I had taken my Car loan from AXIS BANK two months back and the experience i had with them was good. The interest rate has been nominal and the charges which they had made has also not been high. Their customer support team had been helpful and they where responsive.
      Was this review helpful? 0
      , delhi
      Reviewed on Apr 30, 2019
    • Axis Bank Car Loan
      " Satisfactory Experience"
      0.5 5.0/5 "Blown Away!"
      My car loan is running with Axis bank they gave me good interest, I took the loan before four years to purchase the Honda grand I 10. I took the loan amount of Rs. 6.5 lakhs for the duration of five years, I am very satisfied with the bank process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • Axis Bank Car Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have taken one four wheeler , muruti suzaki zxi 2018 model , my loan amount is approx 6L and rate of interest is 9.44% little high , and tenure is 5 years , EMI amount is 12K approx last one years above I took this loan , and their allover service is good , I am satisfied with this loan ,
      Was this review helpful? 1
      , noida
      Reviewed on Apr 23, 2019
    • Axis Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      When applied for the Car Loan the rate of interest and the processing fee was high .The loan got sanctioned on time ,it was sufficient .I have applied for 3lakhs for the tenure of 3years .The Car model was Maruti Swift .I have closed the loan and applied the loan through the agent .The agent gave all the required details of the loan clearly .
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 20, 2019
    • Axis Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I was holding Axis bank car loan previously, the loan amount was sufficient they have given me loan on based on the vehicle price, the rate of interest they have charged me up to 8.75% which was nominal, they had charged me low processing fee , now i have closed this loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2019
    • Axis Bank Car Loan
      "Processing has done on time"
      0.5 4.0/5 "Great!"
      Axis bank processed my car loan within 10 days of time . They taken my quotation and considered all the parameters before sanctioning the car loan . Even they given me correct interest rate and processing fees . Because of them , I taken a new Maruti WagonR .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 16, 2019
    • Axis Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with the Car loan from AXIS BANK has been good & the loan amount has been sufficient. The process had went well & the loan amount was disbursed on time. The interest rate was nominal & there was no hidden charges made by them.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Apr 09, 2019
    • Axis Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with the Car loan from AXIS BANK has been good & the loan amount has been sufficient. The process had went well & the loan amount was disbursed on time. The interest rate was nominal & there was no hidden charges made by them.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Apr 09, 2019
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