How do I keep track of my Axis Bank Two Wheeler 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 –
- By using your registered email id to write to Axis Bank at: [email protected]
- In person at any Axis Bank Loan Center.
If I don’t have an account with Axis Bank, can I still avail of loans?
Yes, you don’t need to own an account with Axis Bank in order to apply for Axis Bank Two Wheeler Loan.
What process does the Bank follow after I apply for a Two Wheeler Loan?
Once the bank received a completed application form including the necessary documents like income proof, identity proof, invoice, and so on, the following steps would take place –
- Processing of Loan Application
- Documentation of the loan
- Sanctioning of the loan
- Disbursement of the 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.
Will the Bank charge me if I cancel the Two Wheeler Loan after it has been approved or disbursed?
- Yes, a fixed charge of Rs. 1,000 is applicable if you cancel your Two Wheeler Loan after the approval. Apart from this, certain additional charges such as stamp duty charges, interest accumulation, etc. may also be levied to the customer.
- If you would like to place a cancellation request, Axis Bank representative will provide you with all the necessary details at the nearest Axis Bank Loan Centre.
After I have repaid the entire loan, how do I remove the hypothecation from the Registration Certificate?
Once your Two Wheeler 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 Two Wheeler 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.