You have done your research on cars and zeroed in on just the right model for you from the wealth of choices in the market. You have scrupulously saved up for the down payment on the coveted car. But the important question is: are you eligible for a car loan to fund the rest of the purchase price? And if you meet the basic car loan eligibility criteria, how much exactly can you expect the bank to fork out?
Axis Bank offers car loans at attractive interest rates to both salaried and self-employed individuals who meet our age and income eligibility criteria.
Car Loan Eligibility: Criteria
Salaried Individuals
Minimum age of applicant: 21 years
Maximum age of applicant at loan maturity: 60 years
Income: Minimum Net Annual Salary of Rs. 1.5 Lac p.a. for selected models and Rs. 2.5 Lac p.a. for others.
Income eligibility: As per latest salary slip or Form 16
Employment: Minimum 2 yrs of continuous employment
Self-employed Individuals
Minimum age of applicant : 21 years
Maximum age of applicant at loan maturity : 65 years
Income: Minimum Net Annual Business income of Rs. 1.5 Lac p.a. for selected models and Rs. 2.5 Lac p.a. for others.
Income eligibility - As per latest ITR and computation of income
Employment : Minimum 3 yrs in same line of business.
*All of the above is subject to terms and conditions.
Car Loan Eligibility Calculator
Axis Bank has made it easy for customers to quickly check out their car loan eligibility. Our car loan eligibility calculator helps you to find out whether you can avail of auto finance. Click here to find out.
