Axis Bank, the third largest private sector bank, is a well-known name in the vehicle loan industry, offering a diverse range of customized programs to cater to the diverse tastes of people around the country. The bank's flexible, transparent, and cost-effective loan procedure has helped it to rank among the top five vehicle finance companies in India.
Axis Bank has a 9% market share in an auto lending industry crowded with major, mid, and small financing organizations, including both banks and non-banking finance companies (NBFCs). The bank's growing roster of car loan customers includes salaried, self-employed businesspeople and professionals, among others.
Despite Axis car loan interest rate fluctuations caused by market fluctuations, the bank strives to provide competitive interest rates on car loans.
These are the major attributes of the car loans from Axis Bank-
Here is the table of the Axis Bank Car Loan Interest rates 2024 -
Type of Loan |
Car Loan Interest in Axis Bank |
New Car Loan Scheme |
8.55 - 13.05% |
Balance Transfer and Top-Up Car Loan Scheme |
15.10 - 18.90% |
Pre-Owned Car Loan Schemes |
13.35 - 16.90% |
Smart Buyback Car Loan Schemes |
10.5% |
Following are the eligibility criteria for a Car Loan from Axis Bank-
There are different schemes offered by the bank to cater to different financial aid for buying cars-
Get a minimum loan of Rs.1 lakh up to 100% of the on-road pricing, plus features like reasonable interest rates, flexible repayment terms, Axis eDGE reward points, and more. Select plans provide payback terms of up to 7 years.
Take advantage of the balance transfer option on vehicle loans or top up your car loan for some more cash. Attractive interest rates are offered on high-value loans of up to 150% of the original loan amount. Customers of Priority Banking benefit from a maximum tenure of up to 5 years.
With a minimum of Rs.1 lakh, you can acquire up to 85% of the car's value as financing on a used car. Quick approvals, full transfer support. The maximum payback period is five years.
Axis Bank has partnered with CarDekho to provide this program, which allows you to purchase and/or upgrade to your ideal car at a lower EMI and receive up to 67% of the vehicle's repurchase value if you want to return the vehicle at the end of the loan term.