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Car Loan EMI Calculator

Loan Amount in between 1Lakh to 1Cr
Tenure years in between 1 to 7
Interest Rate in between 5 to 25

Equated Monthly Installment (EMI) will be1,42,922

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Car Loans

A Car Loan is like a bridge that connects you to your dream car. It is a convenient, affordable and hassle-free financial solution that allows you to buy a car without worrying about the hefty upfront costs. Whether you are eyeing a stylish sedan or a classic SUV, we offer generous on-road funding and tailored repayment plans. With quick disbursement, affordable interest rates, and flexible tenures, we make car financing simple and hassle-free.

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Features and benefits of Car Loan

Principal Amount

Quick 30-minute disbursal

We offer speedy, and structured Car Loans with funds disbursed in as little as 30 minutes to offer you the joy of driving your new car.

Time efficiency

High loan amount

Whether it is a luxury or an economy four-wheeler, we offer generous financing to give you the flexibility to choose a car that best fits your lifestyle and budget.

Financial planning

Flexible repayments

Customise your Auto Loan with flexible repayment plans and loan tenure. We offer options to pre-pay or part-pay your Auto Loan, giving you control over your financial commitments.

Comparison tool

3000+ dealers:

Our extensive network ensures you get a wide range of cars and deals to select from. This gives you access to multiple brands and exclusive offers to negotiate better prices.

Transparency

Preferred pricing

Enjoy preferred pricing on your Auto Loan rates, making your Car Loan experience as rewarding as the drive in your new car. This pricing structure means lower EMIs and higher savings over the loan tenure.

Accessibility

Auto Insurance

Enjoy car protection from day one with our Car Insurance coverage. Bundling your Car Loan and Insurance saves you time and streamlines the buying process.

Car Loan eligibility

Who can apply?

  • Salaried individuals
    • Age: 21 to 60 years
    • Minimum income: ₹2,40,000 p.a. for all approved models
  • Self-employed individuals
    • Age: 18 to 65 years
    • Minimum income: ₹1,80,000 p.a. for approved models and ₹2,00,000 p.a. for others
  • Self-employed non-individuals

View complete details on new Car Loan eligibility and used Car Loan eligibility here.

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Car Loan documents

Documents required for a Car Loan

  • Proof of age: Birth certificate, Aadhaar card, Driving License (any one)
  • Proof of signature: Passport, PAN or Banker’s verification (any one)
  • KYC documents: Passport, Driving license, Aadhaar card, Voter ID
  • Proof of income: Salary slips, ITR forms

View a detailed list of documents required for Car Loan sanction and Car Loan disbursement here.

List of required documents for Car Loan sanction

List of required documents for Car Loan disbursement

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Car Loan interest rate

Rates and Charges For New Car Loans with Tenure of Up to 36 monthsFor New Car Loans with Tenure of over 36 months
1-year MCLR 9.45%-
Spread Over MCLR0.0% - 4.60%-
Effective ROI Range (per annum) 9.45% - 14.05%9.45% - 14.05%
ResetNo Reset-
Processing Fee Between ₹3,500 and ₹12,000 Between ₹3,500 and ₹12,000
Documentation Charges ₹700₹700
Rates and Charges For Used Car Loans with Tenure of Up to 36 months For Used Car Loans with Tenure of over 36 months
Effective ROI Range (per)13.55% - 15.80%13.55% - 15.80%
ResetNo Reset-
Processing Fee Either ₹6,000 or 1% of the loan amount, whichever is higher Either ₹6,000 or 1% of the loan amount, whichever is higher
Documentation Charges₹700₹700
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How to Apply for a Car Loan

1. Visit our Car Loan page and click “Apply Now”.
2. Log in with your mobile number/date of birth/PAN.
3. Enter the required details, such as your age, income, loan amount, loan tenure, etc.
4. Fill out the application form and upload documents.
5. Once approved, the loan amount will directly be disbursed to the authorised dealer.

1. Visit the nearest Axis Bank Branch or associated car dealerships with the necessary documents.
2. Fill out the new or used car financing form.
3. Submit it along with the required documents.
4. Once approved, sign the loan agreement and the loan amount will be disbursed.


Car Loan FAQs

Can I receive a car loan with 100% funding?

Yes, Axis Bank’s New Car Loan facility offers loans starting from ₹1 Lakh and up to the 100% on-road price. You can get new or used car financing of up to 100% funding on select models, attractive Car Loan Calculator, and other benefits

Do I require a guarantor or security when applying for a new car loan?

A car Loan does not necessarily require any other security or guarantor. A new Car Auto Loan enables you to buy a car of your choice with the help of the arrangement of funds from Axis Bank.

You thus repay this loan through regular EMIs. Your vehicle is used as collateral and will be hypothecated to Axis Bank for the loan period.

What is the required CIBIL (credit score) for a car loan?

A CIBIL credit score is based on your payment history across loans and credit cards. A CIBIL credit score 750 is considered a minimum score for a seamless and hassle-free loan approval.

The higher the score, the better since it increases your chances of getting your new or used car loan approved.

Can I prepay the full loan amount in advance? Will the bank charge me a penalty?

Prepaying car loans means paying off the loan before the end of the tenure. Axis Bank does charge a foreclosure or part payment closure penalty at 5% of the outstanding principal.

Click here to know more about our car loan interest rates and charges.

How much EMI will be payable for a new car loan?

With Axis Bank’s new Car Auto Loan, you can get up to 100% on-road vehicle funding. However, the more down payment you make, the lesser loan you will have to borrow and hence lesser EMIs.

Hence, it is prudent to use our Car Loan EMI Calculator before applying to assess how much EMI you need to pay.

What are the minimum and maximum tenures of a Car Loan?

What are the minimum and maximum tenures of a Car Loan? If you apply for Car Loan online with Axis Bank, you can choose flexible tenure ranging from 1 year to 7 years on selected schemes.

What is a pre-approved auto loan?

Pre-approved auto loan or car loan is when the lender considers the borrower eligible for a loan before they apply for Auto Loan. This is usually available to existing bank customers and is largely based on income, credit score, balance maintained with the bank, etc.

When you get a pre-approved loan, you don’t receive the funds; instead, you learn how much funds the lender may agree to give you and at what interest rate. Avail of pre-approved car loans with Axis Bank at affordable interest rates.

Where can I avail car loan offers?

You can apply for Axis Bank’s Car Loan through any of the following three ways:
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