Auto Loan

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.