Axis Bank was founded in 1993 as UTI Bank, and it is India’s third largest private sector bank, offering a wide range of financial services. Axis Bank is headquartered in Mumbai and employs over 55,000 people. Axis Bank provides a number of benefits for auto loans, including:
- Low interest rates when compared to other financial institutions.
- No guarantor is required for loan approval.
- There are no pre-closure fees if you pay off your loan before the end of the term.
AXIS BANK AUTO LOAN DETAILS
| Interest Rate | 8.50% |
| Loan Tenure | Seven years (maximum) |
| Loan to Value Ratio | 90% of ex-showroom |
| EMI per Lakh | Rs. 1,584 |
| Loan Processing Fee | Rs. 3,500 – 5,500 |
| Pre Closure Charges | Nil |
AXIS BANK AUTO LOAN ELIGIBILITY
Find out your eligibility for Auto Loan from the information below
| Eligibility Criteria | Eligibility Requirements |
| Age | 21-70 years |
| Minimum Annual Income | 1.80 lakhs |
| Minimum CIBIL Score | 700 |
| Job Stability if employed | Two years |
FEE AND CHARGES ON AUTO LOAN AXIS BANK
- Foreclosure Charges: These fees must be paid if you want to refund the full amount of your loan before the end of your tenure. After payment of 1 EMI with 5 percent of outstanding principal, the Bank allows for prepayment of the auto loan.
- Processing Fee: Min. Rs. 3500 and Max. Rs. 5500, with applicable service fee, is requested by Axis Bank.
