AXIS Bank Used Car Loan

Increase your eligible AXIS Bank Used Car Loan amount by these steps

1. Pay off your credit card bills
2. Choose longer tenure loan up to 5 years

Documentation needed to apply for an AXIS Bank Used Car Loan

1. Residence proof

2. Photo ID and age proof

3. Signed application form with photograph

4. Last 6 months bank statement

5. Documentation for salaried applicants: 

1. Last 3 months salary -

1. slips Form 16 or Income Tax Returns

6. Documentation for self-employed applicants:

1. Last 3 years Income Tax Returns with computation of Income Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

AXIS Bank Used Car Loan Interest Rates

Features & Benefits of Axis Bank Used Car Loans

Axis Bank used car loan is customized according to the needs of every customer. It is available with flexible options in a transparent and cost-effective process.

1. No part payment charges for car loan with fixed rates during the festive season
2. Car loan amount is disbursed based on the ex-showroom price of the vehicle
3. Available at attractive interest rates
4. Loan-to-value (LTV) ratio up to 95% of the ex-showroom price on select models are provided
5. Banking surrogate schemes are available
6. Used car loan is available from one lakh onwards
7. One to seven years of car loan tenure
8. Calculate EMI using online Axis Bank used car loan EMI calculator
9. Customers with Priority Banking, Wealth Banking and Privee Banking get special offers
10. Club 50 and Channel One Current Account holders get Special Surrogate Scheme
11. Axis Bank salary account holders get special offers

The above features and benefits are subject to terms and conditions.

Eligibility Criteria for Axis Bank Used Car Loan

Anybody with monthly salary or a self-employed professional can apply.

Salaried applicants

1. Applicants should be 21 years of age
2. Maximum age should not exceed 70 years
3. Minimum annual net salary should be 2.4 lakhs
4. Income proof with salary slip and form 16
5. Must have a minimum of one year continuous service with current employer

Self-employed applicants

1. Applicants should be 18 years of age
2. Maximum age should not exceed 75 years
3. Minimum annual net business income should be 1.8 lakhs for selected models and 2.0 lakhs for all other used car models
4. Latest income tax return for income proof
5. Must have a minimum of three years continuous service in the current business

Self-employed Non Individual applicants

1. Minimum annual net business income should be 1.8 lakhs for selected models and 2.0 lakhs for all other used cars
2. Income proof with last two years income tax return and audited financial of 2 years along with computation of income
3. Must have a minimum of three years continuous service in the current business

Priority or Wealth or Privee Customer applicants

1. All Customers with a vintage of six months and minimum average quarterly balance:
2. Maintain average quarterly balance of 1 lakh for last two quarters completed
3. Average quarterly balance must be met for both the quarters
4. Maximum loan amount of 3 times the average quarterly balance in the last two quarters

Salary account applicants

1. Must hold salary account from last 3 months
2. For any one working in Public Limited & Private Limited Companies
3. MNC
4. Permanent employees of State / Central Government
5. Permanent employees of Public Sector Undertakings
6. Permanent employees of reputed schools / colleges
7. Applicants should be 21 years of age
8. Maximum age should not exceed 70 years
9. Minimum annual net income should be 2.4 lakhs
10. Income proof with salary slip and form 16
11. Minimum 1 year of continuous employment

The above axis bank used car loan eligibility is subject to terms and conditions.

Documentation Required for a Axis Bank Used Car Loan

1. Proof of age
2. Identity proof
3. Photograph
4. Proof of residence
5. Proof of income
6. Account statement
7. Proof for verification of signature
8. Car ate list or invoice

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