Axis Bank’s Pre-owned Car Loan provides loans starting from Rs. 1 Lakh up to 85% of the valuation amount of the pre-owned car. Find out about the eligibility criteria for availing a Pre-owned Car Loan below.
Eligibility
Salaried individuals who are eligible for a Pre-owned Car Loan
- Minimum 21 years of age
- Maximum 70 years of age at maturity (conditions apply)
- Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models
- Income eligibility based on latest salary slip and Form 16
- Minimum of 1 year continuous employment
Self-employed individuals who are eligible for a Pre-owned Car Loan
- Minimum 18 years of age
- Maximum 75 years of age at loan maturity
- Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others.
- Income eligibility based on latest Income Tax Returns
- Minimum 3 years of employment in the same line of business
Self-employed non-individuals who are eligible for a Pre-owned Car Loan
- Minimum Net Annual Business income or Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others
- Income eligibility based on latest 2 years Income Tax Returns and audited financials of 2 years along with computation of income
- Minimum 3 years of employment in the same line of business
Car Loan Eligibility Calculator
Use the Car Loan eligibility calculator to find out whether you can avail of a pre-owned car loan.
