Main content par jayein
campaignLive Updates
fiber_newNew LaunchICICI Bank ne 1838 Reserve ultra-luxury credit card launch kiya with 0% forex markup, Quorum Club membership & Lohono Stays villa stay•trending_downDevaluation AlertAmEx Platinum Travel Sept 10 revision me ₹1.9L milestone & bonus MR stripped; domestic lounge access ke liye Oct 1 se ₹1L/qtr spend zaruri•trending_upRevaluationIDFC FIRST Bank ne sabhi credit cards par universal 0% Forex Markup announce kiya; international rewards 26 Oct ko sunset honge•fiber_newNew LaunchICICI Bank ne 1838 Reserve ultra-luxury credit card launch kiya with 0% forex markup, Quorum Club membership & Lohono Stays villa stay•trending_downDevaluation AlertAmEx Platinum Travel Sept 10 revision me ₹1.9L milestone & bonus MR stripped; domestic lounge access ke liye Oct 1 se ₹1L/qtr spend zaruri•trending_upRevaluationIDFC FIRST Bank ne sabhi credit cards par universal 0% Forex Markup announce kiya; international rewards 26 Oct ko sunset honge•
CREDSUTRA

↑ ↓ Navigate↵ Select
Axis BankCar LoansFixed Interest Rate

Axis Bank New Car Loan

Up to 100% on-road financing on select models · Special interest rate discount for electric vehicles (EV) · Flexible balloon repayment options

Starting rate8.80%per year se
Max LTV100%Asset value
Max tenure7 saal84 mahine
Is example ko apni borrowing needs ke hisaab se customize karein.
Repayment customize kareinApply karein: Axis BankBank site · naye tab mein khulega
Mathematical Grounding

True cost aur Day-1 cash breakdown

Representative scenario for ₹10,00,000 loan over 7 years at CIBIL 750+.

Day-1 Upfront Cash Outflow₹5,310

This cash must be paid out-of-pocket before disbursement and is not added to your loan EMI.

Processing Fee₹4,500
18% GST₹810
Legal & Valuation₹0
Estimated Monthly EMI₹15,988Per month for 84 installments
Total Lifetime Interest₹3,42,992Net interest outgo over 7 years
Total Lifetime Outgo (Principal + Interest + Day-1 Cash):₹13,48,302
CredSutra Intelligence

Loan verdict aur maths

Our algorithmic evaluation balances starting benchmark spreads against upfront processing loads and fine print restrictions.

Maths favour mein

  • +Axis Bank ka trusted institutional network aur flexible repayment terms.
  • +0% Prepayment penalty (RBI mandate): Part-prepay ya foreclose anytime with zero financial penalty.

Maths against

  • −Flat processing fee ₹4,500 + 18% GST upfront pay karni hoti hai.
  • −Self-employed borrowers par +25 BPS (0.25%) extra risk markup lagta hai.
  • −Low CIBIL score (<700) par interest rate escalate hokar 11.00% tak ja sakta hai.
Is scenario ko customize karein
Credit Score Sensitivity

CIBIL score ke hisaab se rate ladder

Self-employed risk loading: +25 BPS
CIBIL score bandBorrower tierIndicative salaried rateIndicative self-employed rateEstimated monthly EMI (₹10,00,000)
750 – 900Prime borrower8.80% – 9.30%9.05% – 9.55%₹15,988
700 – 749Good standing9.30% – 10.10%9.55% – 10.35%₹16,242
650 – 699Standard / fair10.10% – 11.00%10.35% – 11.25%₹16,653
Contract Details

Contract ki terms & Clauses

Rate Reset Frequency

Fixed interest rate for the entire tenure

Overdraft / Smart Saver Facility

Not available on this product tier

RBI 0% Foreclosure Penalty Mandate

Under RBI Master Directions, no bank, HFC, or NBFC can charge prepayment penalties or foreclosure charges on floating rate term loans sanctioned to individual borrowers.

Bank notes: Foreclosure allowed after 6 months; 4% foreclosure charge on principal balance.

Borrower Verification

Main eligibility conditions

  • Salaried or self-employed individuals
  • Annual income of at least ₹2,40,000
  • Age 21-70 years
Loan amount range

₹1,00,000 se ₹1,00,00,000

Lender Alternatives

Is category mein options: Car Loans

Is category ko compare karein
State Bank of India

SBI Car Loan

Starting at 8.65% p.a.
Review padhein
Kotak Mahindra Bank

Kotak Mahindra Car Finance

Starting at 8.70% p.a.
Review padhein
HDFC Bank

HDFC Bank New Car Loan

Starting at 8.75% p.a.
Review padhein

Frequently Asked Questions

Axis Bank New Car Loan ka current interest rate aur benchmark spread kya hai?
Axis Bank New Car Loan ki interest rate 8.80% se 11.00% p.a. ke beech hai, jo Fixed Interest Rate par pegged hai.
Kya Axis Bank New Car Loan par foreclosure ya prepayment penalty lagti hai?
RBI Master Directions ke hisaab se individual floating rate borrowers par 0% foreclosure penalty hoti hai. (Bank note: Foreclosure allowed after 6 months; 4% foreclosure charge on principal balance.)
Axis Bank New Car Loan ke liye Day-1 upfront cash kitna lagta hai?
Representative ₹10,00,000 loan par estimated Day-1 upfront cash ₹5,310 hai (Processing fee: ₹4,500 + GST: ₹810 + Legal/Valuation: ₹0).

In loan records mein verification date nahi hai. Apply karne se pehle lender ki current terms check karein.

Official sources & citations
Sources
  • axisbank.com
  • RBI Master Directions on Advances & Floating Rate Loans (Commercial Banks)
  • RBI Regulatory Framework for Retail Loan Interest Rate Resets