AXIS BANK USED CAR LOAN

Looking for Used Car Loan at attractive interest rates? Want a Used Car Loan at a cost-effective process? Then Axis Bank Used Car Loan is most probably the best Used Car Loan in India for you.
Axis Bank Used Car Loan interest rates start from 14.50% to 16.25% p.a. The loan is disbursed in various denominations to suit all your needs of buying a used car.

Why Used Car Loan from Axis Bank?

Apply for Used Car Loan online with the best and effective interest rates from Axis Bank. The bank provides the loan just a one click away from your place through online service. All you need is to provide a few basic details and one of our representatives will promptly respond to your needs of getting a used car loan.

There are numerous features which will allure you to go for Axis Bank Used Car Loan:

1.Quick disbursal

2.Promised and best interest rates

3.Excellent customer service

4.Transparent and hassle-free process

5.Easily calculate Used Car loan value

6.Simple documentation

Fees and Charges

Advantages of Axis Bank Used Car Loan

Axis Bank provides its customers with exciting advantages to choose them for availing Used Car Loan:

1.  Complete transfer support

2. Maximum tenure of 5 years

3. Competitive interest rates

4. Avail up to 85% funding of the validation amount

5. Avail a hassle-free loan application process with speedy approvals.

6. No part payment charges for car loan with fixed rates during the festive season

7. Loan-to-value (LTV) ratio up to 95% of the ex-showroom price on select models are provided

8. Banking surrogate schemes are available

9. Customers with Priority Banking, Wealth Banking and Private Banking get special offers

10 .Axis Bank salary account holders get special offers

11. Calculate EMI using online Axis Bank used car loan EMI calculator

12. Get best Used Car Loan Comparison online

13. Complete transparent loan process

Eligibility criteria for applying for Axis Bank Used Car Loan

Your application for Used Car loan can be approved once you meet the eligibility criteria. To avail a used car loan from Axis Bank, you should ensure that you meet the eligibility criteria specified by the lender:

Salaried Individuals

1. Minimum age of applicant should be 21 years of age

2. Maximum age of applicant should not exceed 70 years at the time of maturity

3. Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models

4. Income proof with salary slip and form 16

5. Income eligibility based on latest salary slip

6. Applicant must have a minimum of one year continuous service with current employer

Self-employed Individuals

1. Minimum age of applicant should be 18 years of age

2. Maximum age of applicant should not exceed 75 years at the time of maturity

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. Income eligibility based on latest Income Tax Returns

5. Applicant must have minimum 3 years of employment in the same line of business

Self-employed Non-Individuals

1. Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others

2. Income proof with last two years income tax return and audited financial of 2 years along with computation of income

3. Applicant must have minimum 3 years of employment in the same line of business

Priority or Wealth or Privet Customers

1.  All customers with a vintage of 6 months & minimum average quarterly balance.

2.  Applicant must have average quarterly balance of 1 Lakh for last 2 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 2 quarters

Salary Account Applicants

1.  Applicant must hold salary account from last 3 years

2.  Any one working in Public limited & Private limited companies or MNCs can apply

3. Applicant should be over 21 years of age

4. Maximum age of applicant should not exceed 70 years

5. Minimum annual net income should be 2.4 Lakhs

6. Income proof with salary slip and form 16 is must

7. Applicant must be having minimum of 1 year continuous employment

Documents required for applying for a Used Car Loan from Axis Bank

Before applying for Used Car Loan online please check you complete with the required documents.

1. Duly filled up loan application form

 2. 2 Passport size photographs

3. Age Proof – Aadhar Car/ PAN Card/ Voter ID/ Passport etc.

4. ID Proof – Aadhar Car/ PAN Card/ Voter ID/ Passport etc.

5. Residence Proof – Electricity bill/ Ration Card/ Voter ID/ Aadhar Card etc.

6. Income Proof

7. Bank Statement

8. Signature verification proof

9. Car valuation report

10. RC Copy in case of refinance

Procedure for applying for Axis Bank Used Car Loan online

One can apply online for Used Car loan through our website with few simple steps by registering online:

1. Enter the required details including your employment type, name, e-mail address, city you are currently living in, type of business, annual income, required loan amount, and mobile number.

2. Provide your consent.

3. Choose Axis Bank as your Car Loan partner.

4. Fill in the form by providing some basic details like your gender, marital status, PAN Number, and others and click proceed.

Know more about Axis Bank Car Loans – FAQs

Q. What is the maximum loan tenure for Pre-owned Car Loans?

A. The maximum loan tenure for pre-owned car loans is 5 years.

Q. What should be the minimum age of a salaried individual applying for a Pre-owned Car Loan?

A. The minimum age for applying for a pre-owned car loan is 21 years.

Q. Is there any requirement of guarantor in case of Used Car loan from Axis Bank?

A. No guarantor required.

Q. What is the processing fee for availing Used Car Loan

A. The processing fees for availing used car loan is Rs. 3500.

Q. What is the interest rate for availing Used Car loan from Axis Bank?

A. The interest rate is 14.50% to 16.25% p.a.