Axis Bank Limited Car Loan
| Bank Link | http://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspx |
| Loan Amount | Rs. 1 Lac Onwards; LTV of up to 95% of the ex-showroom price on select models |
| Interest Rate | 11.50% |
| Tenure | 1 year to 5 years |
| Pre Payment Charges | 5% to 10% of Principal Outstanding |
Service Charges
"Processing Fee : Rs.3500 to Rs.5500
Documentation Charges - Rs. 300/-
Documentation Charges - Rs. 300/-"
Other Charges
"Cheque Bounce/Instrument Return Charges : Rs.500/ Instance
Cheque/Instrument Swap Charges : Rs.500/ Instance
Duplicate Statement issuance charges : Rs.500/ Instance
Duplicate Repayment Schedule issuance charges : Rs.500/ Instance
Duplicate No Dues Certificate/NOC : Rs.500/ Instance
Late repayment penalty : 2% per month
Loan cancellation/Re-booking : Rs 1000/ instance
Foreclosure charges within 6 months : 10% of outstanding loan amt
Foreclosure charges after 6 months and above : 5% of outstanding loan amt
Stamp Duty : At Actuals
Issuance of Credit Report : Rs.50/ Instance"
| Self | |
|---|---|
| Minimum Age (in yrs.) | 18-75 Years |
| Minimum Income (in Rs.) | Minimum net business income of Rs. 1.8 Lac p.a. for selected models and Rs. 2 Lac p.a. for others |
| Minimum Work Experience (yrs.) | Minimum 3 years same in line of business |
| Residence Status (yrs.) | Valid Residence proof |
| Id Proof | Passport or voter's card or driving licence or PAN card and photograph |
| Address Proof | Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements |
| DOB Proof | DOB Certificate/Class 10th Mark Sheet |
| Salaried | |
|---|---|
| Minimum Age (in yrs.) | 21-60 Years |
| Minimum Income (in Rs.) | Minimum income of Rs. 2.4 Lac p.a. or all approved car models |
| Minimum Work Experience (yrs.) | Minimum 1 year continuous employment |
| Residence Status (yrs.) | Valid Residence proof |
| Id Proof | Passport or voter's card or driving licence or PAN card and photograph |
| Address Proof | Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements |
| DOB Proof | DOB Certificate/Class 10th Mark Sheet |
| Financial Docs | Latest salary slip showing all deductions or Form 16 along with current dated salary certificate Signature verification proof Loan Agreement duly signed along with RTO set Margin Money Receipt Post Dated Cheques (PDCs) / ECS form / Standing Instruction (SI) request Proforma Invoice Bank statement" |
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