What is the best way to apply for an Axis Bank Car Loan?

You can start the process of applying for an Car Loan in any of the following three ways:

Online

In person at any Axis Bank Loan Center. To find the one closest to you, please click here

By calling our Call Centre. To find the toll-free numbers, click here.

What is the minimum amount of Car Loan that I can get?

At Axis Bank, we offer Car Loans from Rs. 1 lakh onwards. Some of the factors we consider when
deciding on a loan amount are:

Your requirement and eligibility

Your income

Your repayment capacity

For more features of Axis Bank Car Loans and details regarding eligibility, please click here

What is the tenure for which I can avail an Car Loan?

We offer you a flexible tenure ranging from 12 to 84 months*. For more features of Axis Bank
Car Loans

What process does the Bank follow after I apply for an Car 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:

Processing/approval of application

Documentation

Sanctioning of the loan

Disbursement of loan
What security or collateral do I need to provide when I avail an Car Loan
from 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.

What are the different options for making my EMI payments? Is there a
preferred one?
You can repay your Car Loan in any of the following three ways:

Standing Instruction (SI): This method can be used if you have an existing savings, salary, or
current account with Axis Bank. You may wish to open a savings account with Axis Bank to use
this option. Your EMI amount will be debited automatically at the end of the monthly cycle from
the Axis Bank account you specify.

Electronic Clearing Service (ECS): This method can be used if you have a non-Axis Bank account
and would like your EMIs to be debited automatically at the end of the monthly cycle from this
account.

Post-Dated Cheques (PDCs) : You can submit post-dated EMI cheques from a non-Axis Bank
account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a
timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

We recommend that you opt for either the SI or ECS mode of payment as they are both faster
and less prone to error than the use of PDCs.

After I have repaid the entire loan, how do I remove the hypothecation
from the Registration Certificate?
Once your Car 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
Auto 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.