|Features and Eligibility||Axis Bank New Car Loan Scheme|
|Interest Rate||8.50% onwards|
|Loan Amount||1 lakh Min|
|Lowest EMI per Lakh||Rs. 1,478|
|Maximum Repayment Tenure||8 years|
|Age (years)||Between 21 years and 70 years|
|Foreclosure Charges||5% of outstanding principal|
Axis Bank Car loans can be availed by individuals- self and salaried employees. The following are Requirements for Axis car loan eligibility:
|Salaried Individuals||Self-employed Individuals|
|The applicant age should be above 21 years old||The applicant age should be above 18 years old|
|At the time of car loan maturity, the applicant's age should be below 70 years old||At the time of car loan maturity, the applicant's age should be below 75 years old|
|Net salary should be Rs 2.4 lakh per year||Net salary should be Rs 2 lakh per year|
|Income eligibility will be based on the latest salary slip and form 16||Income eligibility will be based on the latest ITR|
|Applicant should have a one year of continuity in employment||Applicant should be in present business for minimum 3 years|
The car loan EMI caluculator is the easy methos to caluculate your Equated Monthly Instalments for your required loan amount. Do you want to check the EMI for Axis Bank car loan, use below EMI caluculator:
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Car loans for new and used cars
Caluculate the car loan value easily.
Easy loans (without income documents) for existing loanonmind customers with good repayment records for 12 months or more.