Axis Bank Car Loans

Interest Rate
Processing Fee
Loan Amount
Axis Bank New Car Loan
0 Reviews

11.00% - 12.00%

Rs. 3500 to Rs. 5500

₹ 1 Lac or Above

1 Lac or Above

1 - 7 Years

1 - 7 Years


What type or make of vehicles does Axis Bank finance?

Axis Bank offers. Auto Loans for most passenger cars, multi-utility vehicles and sports-utility vehicles that are available in India and are bought for personal use.


What process does the Bank follow after I apply for an Auto Loan?

Once we receive a completed application form along with necessary documents like income proof, identity proof, invoice, and so on, the following steps take place –

  • Processing/approval of application
  • Documentation
  • Sanctioning of the loan
  • Disbursement of loan
  • Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 30 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.


Do I need to provide any security or collateral to obtain a car loan from the Axis Bank?

Your vehicle itself is used as collateral and will be hypothecated to Axis Bank for the loan period. Apart from this, no other security or collateral is required.


Will the Bank charge me if I cancel the Auto Loan after it has been approved or disbursed?

Yes, a fixed charge of Rs. 1,000 is applicable if you cancel your Auto Loan. Apart from this, certain additional charges such as stamp duty charges, interest accumulation, etc. may also be applicable.


If you would like to place a cancellation request, Axis Bank representative will provide you with all the necessary details at your nearest Axis Bank Loan Centre.


How do I keep track of my Axis Bank Car Loan? For example, how do I get my statements and repayment schedule?

You may place request for Statement of Account or Repayment Schedule or Interest Certificate in either of the following ways –

Call Axis Bank 24x7 Call Center at any of these toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577.
Write to Axis Bank using your registered email id at: [email protected]
In person at any Axis Bank Loan Center. To find the one closest to you, please click here.


What are the different options for making my EMI payments? Is there a preferred one?

You can repay your Auto Loan in any of the following three ways –

  • Standing Instruction (SI): This method can be used if you have an existing savings, salary, or current account with Axis Bank. You may wish to open a savings account with Axis Bank to use this option. Your EMI amount will be debited automatically at the end of the monthly cycle from the Axis Bank account you specify.
  • Electronic Clearing Service (ECS): This method can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
  • Post-Dated Cheques (PDCs) : You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only. We recommend that you opt for either the SI or ECS mode of payment as they are both faster and less prone to error than the use of PDCs.


How do I pre-close my Auto Loan? Will there be any charge for the preclosure?

Before Axis Bank process a preclosure, all outstanding dues must be cleared. So you need to first check for and clear any remaining amount that may be payable towards your Auto Loan by requesting a preclosure statement from your nearest Axis Bank Loan Center.

Once all outstanding dues have been cleared, please submit a foreclosure request at the Loan Center, and we will begin processing your request.


After I have repaid the entire loan, how do I remove the hypothecation from the Registration Certificate?

Once your Auto Loan has been closed, Axis Bank will provide you the following documents to remove hypothecation from your Registration Certificate –

  • No Objection Certificate (NOC) will be given for your Regional Transport Office (RTO) and your Auto Insurance Company. 
  • No Objection Certificate issued by Axis Bank.
  • Original Form 35.

These documents have to be submitted at your local RTO along with a fee for removal of hypothecation.


How do I update my mobile number and the email address registered under my Auto Loan account?

You may update your mobile number and email address in either of the following ways –

  • By calling any of Axis Bank toll free numbers: 1860-419-5555 or 1860-500-5555 
  • By using your registered email id to write to Axis Bank at: [email protected]

How long will it take for my Car loan to be processed?

It can take up to 30 days for Axis Bank to process your car loan, after receiving the application with all the required documents.


Is there are any charges for NOC (No Objection Certificate)?

A charge of Rs. 500 will be levied to the customer for issuance of NOC.


Is there are any charges for Duplicate NOC (No Objection Certificate)?

Yes, Axis Bank charges Rs. 500 for a duplicate NOC.


What are the applicable charges for CIBIL report copy?

A charge of Rs. 50 for each copy of CIBIL report will be levied to the customer.