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| COMPARE : CAR LOANS |
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| Introduction |
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| Axis Bank offers car loan Power Drive for the new cars. No income proof is required. Bank has special schemes for its Salary and Priority account holders. Repayment tenure of loan is from 1 year to 5 years. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
Ex-Showroom |
| Loan Amount |
Loans offered from Rs.1 lakh onwards. LTV of up to 90% of the ex-showroom price on select models.
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Loans offered from Rs.1 lakh onwards. LTV of up to 90% of the ex-showroom price on select models.
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| Tenure |
Min. - 12 months.
Max. - 60 months.
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Min. - 12 months.
Max. - 60 months.
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| Interest Rate |
15 % |
15 % |
| Time to Process Loan |
4 days |
4 days |
| Preferred Manufacturers |
Chevorlet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Chevorlet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Cheque Bouncing Charges |
500 Rs |
500 Rs |
| FC Charges |
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10 Rs |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Late Payment Penalty |
2 % |
2 % |
| Cheque Swapping Charges |
500 Rs |
500 Rs |
| Loan Cancellation/Rebooking Charges |
1000 Rs |
1000 Rs |
| Statement Charges |
500 Rs/Statement |
500 Rs/Statement |
| Duplicate Repayment Schedule Charges |
500 Rs |
500 Rs |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
| Duplicate No Due Certificate / NOC Charges |
500 Rs |
500 Rs |
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| Comment on Charges |
Processing charges -Rs. 3500 to Rs. 5500 |
Processing Charges - Rs. 3500 to Rs. 5500 |
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Eligibility Criteria
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Eligibility Criteria
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Salaried
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Salaried:
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| Income |
Rs 8000 |
| Age |
Min.: 21 Yrs. Max.: 60 Yrs. |
| Current Employment Years |
1 Yrs. |
| Total Employment Years |
2 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Self Employed
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Self Employed:
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| Income |
Rs 60000 |
| Age |
Min.: 21 Yrs. Max.: 65 Yrs. |
| Total Employment Years |
3 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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