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
|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|
|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.