Axis Bank Limited has decreased its new car loan interest rates by 0.05%, or 05 basis points with effect from Thursday, January 18, 2018. This interest rate cut will reduce the cost of funds for those people who want to avail auto loans for buying their new cars.
Axis Bank Limited – Current Auto Loans or Car Loans Interest Rates
New Delhi (Delhi, India), February 18, 2018
Axis Bank Limited Cuts Auto Loan Interest Rate to 8.35% Per Annum
The Axis Bank Limited has decreased its new car loan interest rates by 0.05 percent, or 05 basis points with effect from Thursday, January 18, 2018.
Axis Bank Limited has revised its minimum new car loan interest rate from 8.40 percent to 8.35 percent per annum for women applicants and from 8.40 percent to 8.35 percent per annum for men applicants.
Axis Bank Limited’s current interest rate cut will reduce the cost of funds for those people who want to avail auto loans for buying their new or used cars.
Axis Bank Limited Car Finance – Current Auto Loan Interest Rates for New Cars
Axis Bank New Car Loan Interest Rate for Women: 8.35% Per Annum
Axis Bank New Car Loan Interest Rate for Men: 8.35% Per Annum
Axis Bank New Car Loan Interest Rate for HUF, Partnership Firms, Trusts, Societies and Companies: 8.35% Per Annum
Axis Bank New Car Loan Rate of Interest is Floating or Fixed: Fixed Interest Rate
Axis Bank New Car Loan Interest Amount Calculation Method Monthly Reducing Balance
Axis Bank New Car Loan Processing Fee: Minimum Rs. 3,500 inclusive of GST and Maximum Rs. 5,500 inclusive of GST
Axis Bank New Car Loan Documentation Charges: Rs. 300 inclusive of GST
Minimum Tenure for the Axis Bank New Car Loan: Minimum Tenure for Axis Bank New Car Loan is 12 Months
Maximum Tenure for the Axis Bank New Car Loan: Maximum Tenure for Axis Bank New Car Loan is 84 Months
Minimum Age Limit for Getting the Axis Bank New Car Loan Sanctioned: Minimum Age 21 Years for Salaried Applicants and 18 Years for Self-Employed Applicants at the Time of New Car Loan Commencement
Maximum Age Limit for Getting the Axis Bank New Car Loan Sanctioned: Maximum Age 70 Years for Salaried Applicants and 75 Years for Self-Employed Applicants at the Time of New Car Loan Maturity
Axis Bank New Car Loans Minimum Income Eligibility Criteria for Salaried Individuals: (i) Minimum Net Annual Salary of Rs. 240,000 based on Latest Salary Slip and Form 16, and (ii) Minimum of 1 Year of Continuous Employment
Axis Bank New Car Loans Minimum Income Eligibility Criteria for Self-Employed Individuals: (i) Minimum Net Annual Business Income of Rs. 180,000 based on Latest 2 Years Income Tax Returns, Audited Financials and Computation of Income (ii) Minimum 3 Years of Employment in the Same Line of Business
Axis Bank New Car Loans Minimum Borrowing Amount: Axis Bank’s Minimum New Car Loan Amount is Rs. 1,00,000
Maximum Quantum of Axis Bank New Car Loan: Up to 95% of the Ex-Showroom Value or Up to 85% of the On-Road Price of Vehicle
Different Options for Making Axis Bank New Car Loan EMI Payments: The three options for making EMI payments are Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Axis Bank New Car Loan Foreclosure or Pre Closure Charges: 5% of the Principal Outstanding plus GST (After 180 Days from Date of Disbursement)
Axis Bank New Car Loan Part Payment or Prepayment Penalty: 5% of the Part Payment Amount plus GST (Minimum Amount Equal to One EMI and Maximum Amount 25% of the Balance Principal in One Year)
Charges for Axis Bank New Car Loan EMI Late Payment: Minimum 2% Per Month of the Axis Bank New Car Loan EMI Outstanding Amount (Minimum Rs. 500 Maximum Rs. 5,000 plus GST)
Axis Bank New Car Loan EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus applicable GST
Axis Bank New Car Loan Security Requirement: Hypothecation of New Car to be Purchased out of Loan is Compulsory
Axis Bank New Car Loan Guarantor Requirement: No Guarantor is Required
Axis Bank Limited Car Finance – Current Auto Loan Interest Rates for Used Cars
Axis Bank Used Car Loan Interest Rate for Up to 3 Years Tenure: 13.99% to 14.99% Per Annum
Axis Bank Used Car Loan Interest Rate for Above 3 Years Tenure: 13.99% to 14.99% Per Annum
Axis Bank Certified Pre-Owned Car Loan Interest Rate for Up to 5 Years Tenure: 13.99% to 14.99% Per Annum
Axis Bank Used Car Loan Rate of Interest is Floating or Fixed: Fixed Interest Rate
Axis Bank Used Car Loan Interest Amount Calculation Method Monthly Reducing Balance
Axis Bank Used Car Loan Processing Fee: Minimum Rs. 3,500 inclusive of GST and Maximum Rs. 5,500 inclusive of GST
Axis Bank Used Car Loan Documentation Charges: Rs. 300 inclusive of GST
Minimum Tenure for the Axis Bank Used Car Loan: Minimum Tenure for Axis Bank Used Car Loan is 12 Months
Maximum Tenure for the Axis Bank Used Car Loan: Maximum Tenure for Axis Bank Used Car Loan is 60 Months
Minimum Age Limit for Getting the Axis Bank Used Car Loan Sanctioned: Minimum Age 21 Years for Salaried Applicants and 18 Years for Self-Employed Applicants at the Time of Used Car Loan Commencement
Maximum Age Limit for Getting the Axis Bank Used Car Loan Sanctioned: Maximum Age 70 Years for Salaried Applicants and 75 Years for Self-Employed Applicants at the Time of Used Car Loan Maturity
Axis Bank Used Car Loans Minimum Income Eligibility Criteria for Salaried Individuals: (i) Minimum Net Annual Salary of Rs. 240,000 based on Latest Salary Slip and Form 16, and (ii) Minimum of 1 Year of Continuous Employment
Axis Bank Used Car Loans Minimum Income Eligibility Criteria for Self-Employed Individuals: (i) Minimum Net Annual Business Income of Rs. 180,000 based on Latest 2 Years Income Tax Returns, Audited Financials and Computation of Income, and (ii) Minimum 3 Years of Employment in the Same Line of Business
Axis Bank Used Car Loans Minimum Borrowing Amount: Axis Bank’s Minimum Used Car Loan Amount is Rs. 1,00,000
Different Options for Making Axis Bank Used Car Loan EMI Payments: The three options for making EMI payments are Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Axis Bank Used Car Loan Foreclosure or Pre Closure Charges: 5% of the Principal Outstanding plus GST (After 180 Days from Date of Disbursement)
Axis Bank Used Car Loan Part Payment or Prepayment Penalty: 5% of the Part Payment Amount plus GST (Minimum Amount Equal to One EMI and Maximum Amount 25% of the Balance Principal in One Year)
Charges for Axis Bank Used Car Loan EMI Late Payment: Minimum 2% Per Month of the Axis Bank Used Car Loan EMI Outstanding Amount (Minimum Rs. 500 Maximum Rs. 5,000 plus GST)
Axis Bank Used Car Loan EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus GST
Axis Bank Used Car Loan Security Requirement: Hypothecation of Used Car to be Purchased out of Loan is Compulsory
Axis Bank Used Car Loan Guarantor Requirement: No Guarantor is Required
Axis Bank Limited Auto Finance – Current Loan Against Car Scheme Interest Rates
Axis Bank Loan Against Car Interest Rate for Women: 13.99% to 14.99% Per Annum
Axis Bank Loan Against Car Interest Rate for Men: 13.99% to 14.99% Per Annum
Axis Bank Loan Against Car Interest Rate for HUF, Partnership Firms, Trusts, Societies and Companies: 13.99% to 14.99% Per Annum
Axis Bank Loan Against Car Rate of Interest is Floating or Fixed: Fixed Interest Rate
Axis Bank Loan Against Car Processing Fee: Minimum Rs. 3,500 inclusive of GST and Maximum Rs. 5,500 inclusive of GST
Axis Bank Loan Against Car Documentation Charges: Rs. 300 inclusive of GST
Minimum Tenure for the Axis Bank Loan Against Car: Minimum Tenure for Axis Bank Loan Against Car is 12 Months
Maximum Tenure for the Axis Bank Loan Against Car: Maximum Tenure for Axis Bank Loan Against Car is 60 Months
Minimum Age Limit for Getting the Axis Bank Loan Against Car Sanctioned: Minimum Age 21 Years for Salaried Applicants and 18 Years for Self-Employed Applicants at the Time of Loan Against Car Commencement
Maximum Age Limit for Getting the Axis Bank Loan Against Car Sanctioned: Maximum Age 70 Years for Salaried Applicants and 75 Years for Self-Employed Applicants at the Time of Loan Against Car Maturity
Axis Bank Loan Against Cars Minimum Borrowing Amount: Axis Bank’s Minimum Loan Against Car Amount is Rs. 10,00,000
Maximum Quantum of Axis Bank Loan Against Car: Up to 150% of the Original Loan Value of the Car
Different Options for Making Axis Bank Loan Against Car EMI Payments: The three options for making EMI payments are Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Axis Bank Loan Against Car Foreclosure or Pre Closure Charges: 5% of the Principal Outstanding plus GST (After 180 Days from Date of Disbursement)
Axis Bank Loan Against Car Part Payment or Prepayment Penalty: 5% of the Part Payment Amount plus GST (Minimum Amount Equal to One EMI and Maximum Amount 25% of the Balance Principal in One Year)
Charges for Axis Bank Loan Against Car EMI Late Payment: Minimum 2% Per Month of the Axis Bank Loan Against Car EMI Outstanding Amount (Minimum Rs. 500 Maximum Rs. 5,000 plus GST)
Axis Bank Loan Against Car EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus GST
Axis Bank Loan Against Car Guarantor Requirement: No Guarantor is Required
Axis Bank Limited – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Axis Bank Limited