Axis bank

Axis bank

Overview

Axis Bank offers uniquely tailored Car Loan products that take the pain and hassle out of buying a car. Flexible, transparent, quick, and cost-effective, our Car Loans put the joy back into owning a car.

Loan Feature

Loan Amount Rs. 1 Lac Onwards; LTV of up to 95% of the ex-showroom price on select models
Interest Rate 11.5%
Tenure 1 year to 5 years
Pre Payment Charges 5% to 10% of Principal Outstanding
Service Charges

Processing Fee : Rs.3500 to Rs.5500

Documentation Charges - Rs. 300/-

 

Documentation Charges - Rs. 300/-

Eligibility Criteria : Car Loan

  Salaried Self
Age 21-60 Years 18-75 Years
Income Minimum income of Rs. 2.4 Lac p.a. or all approved car models Minimum net business income of Rs. 1.8 Lac p.a. for selected models and Rs. 2 Lac p.a. for others
Job Experience Minimum 1 year continuous employment Minimum 3 years same in line of business
Residence Proof Valid Residence proof Valid Residence proof

Docs Required : Car Loan

  Salaried Self
ID Proof Passport or voter's card or driving licence or PAN card and photograph Passport or voter's card or driving licence or PAN card and photograph
Address Proof Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements
DOB Proof DOB Certificate/Class 10th Mark Sheet DOB Certficate/Class 10th Mark Sheet
Financial Docs

Salaried Individual:

  • Latest salary slip showing all deductions or Form 16 along with current dated salary certificate
  • Signature verification proof
  • Loan Agreement duly signed along with RTO set
  • Margin Money Receipt
  • Post Dated Cheques (PDCs) / ECS form / Standing Instruction (SI) request
  • Proforma Invoice
  • Bank statement


Self Employed Individual:

  • TR (last 2 years) and computation of income (last 2 years) certified by a CA, balance sheet, profit and loss statement (for self-employed)
  • Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers
  • Documentary proofs required may vary from customer to customer
  • Loan Agreement duly signed along with RTO set
  • Post Dated Cheques (PDCs) / ECS form / Standing Instruction (SI) request
  • Signature verification proof
  • Loan Agreement duly signed along with RTO set
  • Margin Money Receipt
  • Proforma Invoice
  • Bank statement

Other Charges : Car Loan

Cheque Bounce/Instrument Return Charges : Rs.500/ Instance
Cheque/Instrument Swap Charges : Rs.500/ Instance
Duplicate Statement issuance charges : Rs.500/ Instance
Duplicate Repayment Schedule issuance charges : Rs.500/ Instance
Duplicate No Dues Certificate/NOC : Rs.500/ Instance
Late repayment penalty : 2% per month
Loan cancellation/Re-booking : Rs 1000/ instance
Foreclosure charges within 6 months : 10% of outstanding loan amt
Foreclosure charges after 6 months and above : 5% of outstanding loan amt
Stamp Duty : At Actuals
Issuance of Credit Report : Rs.50/ Instance

Cheque Bounce/Instrument Return Charges : Rs.500/ Instance

Cheque/Instrument Swap Charges : Rs.500/ Instance

Duplicate Statement issuance charges : Rs.500/ Instance

Duplicate Repayment Schedule issuance charges : Rs.500/ Instance

Duplicate No Dues Certificate/NOC : Rs.500/ Instance

Late repayment penalty : 2% per month

Loan cancellation/Re-booking : Rs.1000/ instance

Foreclosure charges within 6 months : 10% of outstanding loan amt

Foreclosure charges after 6 months and above : 5% of outstanding loan amt

Stamp Duty : At Actuals

Issuance of Credit Report : Rs.50/ Instance

Products offered by Axis bank

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