Axis Bank Car Loans

Axis Bank New Car Loan

Processing Fee
Rs. 3500 to Rs. 5500

Loan Amount
₹ 1 Lac or Above
Tenure
1 - 7 Years

Description:

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 –

 

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 –

 

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 –

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 –


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.