Axis Bank Car Loan


Axis Bank Car Loan

Car Loan

Axis Bank Limited is one of the third largest banks in the private sector banks in India. The bank provides suitable financial products. Mumbai is the head office which is located on the Axis bank.A registered office is located in Ahmadabad. The first branch was inaugurated on 2 April 1994 in Ahmadabad by Dr. Manmohan Singh, the finance minister of India. The bank employs over a 50,000 people and has a capitalization market of US$ 17 billion. It offers the large and, mid-size corporate, SME, and retail business.

Key Features of Axis Bank Car Loan:

  • Loan amount starts from Rs.1 Lakh
  • Options for Loan tenure valid for 6 years(1 to 7 years)
  • Loan amount for market price is up to 85%
  • LTV is available on the model selection in the price of ex-showroom up to 95%
  • It offers banking schemes by surrogate.
  • Axis Bank provides special schemes on car loans for salary account holders
  • Special benefits are offered for the wealth banking,private banking and priority banking customers.

Eligibility criteria

Salaried Individuals:

  •  The applicant of age between 21 to 70 are eligible for taking Car Loan
  • Net annual salary should not be less than Rs. 2.4 lakhs.
  • Income eligibility will be based on the latest salary slip and Form 16
  • Applicant should have been under continuous employment for at least a year.

Self-employed Individuals

  •  The applicant of age between 18 to 75 are eligible for taking Car Loan
  • Net annual salary should not be less than Rs. 2 lakhs.
  • Income eligibility based on latest Income Tax Returns(ITR)
  • Applicant should be in the present business for a minimum of 3 years.

Required Documents

  • Identity proof: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement, utility bills.
  • Address Proof: Passport /Aadhar card/ Ration Card / Rental Agreement.
  • Bank statement of the past 6 months.
  • Additional documentation by salaried applicants:
  1. Last 3 months salary slips
  2. Form 16 or proof of Income Tax Returns
  • Additional documentation by the group or self-employed applicants:
  1. Last 3 years Income Tax Returns with the computation of Income
  2. Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account statement
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