With Axis Bank’s New Car Loan facility, owning your dream car is easier than you would have imagined! Axis Bank’s New Car Loan facility offers car loans from Rs. 1 Lakh up to 100% on-road price. With the New Car Loan, you can enjoy a host of benefits such as attractive car loan interest rates, affordable car loan charges and up to 100% loan on selected models. Find out more about the New Car Loan interest rates below.
Interest Rates and Charges
For Car Loans with tenure up to 36 months
| 1 Yr MCLR |
Spread over MCLR |
Effective ROI |
Reset |
Processing Fee |
Documentation Charges |
| 8.90% |
0.35%- 2.60% |
9.25%-11.50% |
No Reset |
Rs. 3500 – Rs. 5500 |
Rs. 500 |
For Car Loans with tenure over 36 months
| Effective ROI |
Processing Fee |
Documentation Charges |
| 9.25% - 11.50% |
Rs. 3500 – Rs. 5500 |
Rs. 500 |
New Car Loan Charges
Axis Bank’s New Car Loan offers a loan amount up to 100% of the on-road price of the car. The charges associated with the New Car Loan are completely transparent and kept to a minimum, which means you have to pay less upfront. Find out about the new car loan charges below.
| Sr. no |
Type |
Charges |
| 1 |
Cheque Bounce / Instrument Return Charges |
Rs. 500 per instance |
| 2 |
Cheque / Instrument Swap Charges |
Rs. 500 per instance |
| 3 |
Duplicate Statement Issuance Charges |
Rs. 500 per instance |
| 4 |
Duplicate Repayment Schedule Issuance Charges |
Rs. 500 per instance |
| 5 |
Duplicate No Dues Certificate / NOC |
Rs. 500 per instance |
| 6 | Penal Interest |
2% per month |
| 7 |
Loan Cancellation / Re-booking |
Rs. 2,500 per instance |
| 8 |
Foreclosure Charges |
5% of the Principal Outstanding |
| 9 |
Part Payment charges |
5% of the Part Payment amount |
| 10 |
Stamp Duty |
At actuals |
| 11 |
Issuance of Credit Report |
Rs. 50 per instance |
| 12 |
Documentation Charge |
Rs 500/ Instance |
| 13 |
Registration Certification Collection Charge |
Rs 200/ Instance |
*Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
** The minimum amount accepted for part payment will be equal to one EMI and maximum amount will be 25% of the balance principal in one year.
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