Interest Rates and Charges
With Smart Buyback Car Loans, owning your dream car is easier than you would have imagined! Smart Buyback Car Loans offer car loans from Rs. 1 Lakh and 100% ex-showroom funding. Additionally, you can enjoy a host of benefits such as EMIs up to 40% lower as compared to traditional financing and up to 67% of buyback value*.
Here are the applicable interest rate and charges for Smart Buyback Car Loans
| 1 Yr MCLR |
Spread over MCLR |
Effective ROI |
Reset |
Processing Fee |
Documentation Charges |
| 7.40 % |
3.10% |
10.50% |
No Reset |
Rs. 3500 - Rs. 5500 |
Rs. 500 |
Above 36 months
| Effective ROI |
Processing Fee |
Documentation Charges |
| 10.50% |
Rs. 3500 - Rs. 5500 |
Rs. 500 |
Charges for Smart Buyback Loans:
| Sr. no |
Type |
Charges |
| 1 |
Cheque Bounce / Instrument Return Charges |
Rs. 500 per instance |
| 2 |
Cheque / Instrument Swap Charges |
Rs. 500 per instance |
| 3 |
Duplicate Statement Issuance Charges |
Rs. 500 per instance |
| 4 |
Duplicate Repayment Schedule Issuance Charges |
Rs. 500 per instance |
| 5 |
Duplicate No Dues Certificate / NOC |
Rs. 500 per instance |
| 6 | Penal Interest |
2% per month |
| 7 |
Loan Cancellation / Re-booking |
Rs. 2,500 per instance |
| 8 |
Foreclosure Charges |
5% of the Principal Outstanding |
| 9 |
Part Payment charges |
5% of the Part Payment Amount |
| 10 |
Stamp Duty |
At actuals |
| 11 |
Issuance of Credit Report |
Rs. 50 per instance |
| 12 |
Documentation Charge |
Rs 500/ Instance |
| 13 |
Registration Certification Collection Charge |
Rs 200/ Instance |
- The charges mentioned herein are subject to change as per Bank's discretion from time to time.
- Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
* powered by CarDekho LoEMI, exclusively for Axis Bank customers
