The vehicle is hypothecated to Axis Bank and lien is marked in favor of Axis Bank on the Registration Certificate, Final Invoice and Insurance Policy.
The lending rates vary on the basis of discounts which are offered by manufacturers and dealers. Our Bank has a tie-up with all leading manufacturers and authorized dealers. Our sales team would help you negotiate the best rate on your loan.
Axis Bank finances most of the passenger cars, multi utility and sports utility vehicles which are available in India. Axis Bank offers Car Loans for only those vehicles which would be used for personal use.
No, you cannot sell the car unless your loan account has zero outstanding. A NOC is required from the bank before you can sell the car.
Axis Bank Car Loans are offered at fixed rate of interest, i.e., the interest rate remains unchanged for the tenure of the loan.
You can repay the loan by depositing Post dated Cheques. If you are an Axis Bank account holder, you can opt for direct debit (standing instruction) of your savings account. ECS, Electronic Clearing Service debit mandate is other mode of repayment by which your bank account gets debited for the loan repayment on a specific date in a month.
The choice is completely yours. However, from customer ease perspective, most of our customers today opt for Direct Debit instructions such as Standing Instructions Electronic Clearing Services. Please note that there is nominal charge in case you wish to change to either of the repayment mode. Please visit your retail asset centre to assist you on the same. ECS facility will enable direct debit of your bank account every month on the specific instruction.
You can contact the nearest RAC centre for any queries .To address your Queries, a customer service representative is available in each RAC. Please mention your loan account number and contact details and e-mail id in all your correspondence. Please click here in case of your query stands unresolved
Dishonoring a cheque is a criminal offence making you liable for legal action and your credit profile could also be seriously damaged.
After the last payment is made, you can get the lien of the bank on your car cancelled. You will be issued a loan closure letter by the bank along with Form 35 and NOC to the RTO for canceling the lien from the R/C book. A similar NOC will also be issued to the insurance company requesting for the deletion of their lien from the policy.
You can approach as in any of the following ways:
- Walk into our Branches / Retail Asset Centres
- SMS Car to 5676782
- Apply Online
- Contact our sales team at the dealership