Axis Bank’s Used Car Loan provides loans starting from Rs. 1 Lakh up to up to 95% of the valuation amount (sale-purchase or used car loan); Up to 85% of the valuation amount(refinance loan). Find out about the eligibility criteria for availing a Used Car Loan below.
Eligibility
Salaried individuals who are eligible for a Used Car Loan
- Minimum 21 years of age
- Maximum 60 years of age at maturity (conditions apply)
- Minimum net annual salary of Rs 2,40,000 p.a. for certain models and Rs 3,00,000 p.a. for specific models
- Income elgibility based on latest salary slip/form16/ last 3 months bank statements
- Minimum 1 year of continuous employment
Self-employed individuals who are eligible for a Used Car Loan
- Minimum 21 years of age
- Maximum 65 years of age at loan maturity
- Minimum Net Annual Business income of Rs. 2,00,000 p.a. for selected models and Rs. 3,50,000 p.a. for others.
- Minimum 2 years of employment in the same line of business
Self-employed non-individuals who are eligible for a Used Car Loan (partnership/huf/pvt ltd/ ltd/ trust/ societies)
- Minimum Net Annual Business income or Rs. 2,50,000 p.a. for selected models and Rs. 3,50,000 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 2 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.
