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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

Car Loan is like a bridge that holds the power to connect you to your dream car.


A Car Loan is a convenient, affordable, and hassle-free financial solution that allows you to buy a car without worrying about the hefty upfront costs and financial burden that comes with it.


This type of vehicle loan allows you to spread the cost of your favourite car into affordable monthly, making it a budget-friendly purchase and enjoy your dream vehicle without financial stress.

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Car Loan products

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Features and benefits of Car Loan

  • Quick disbursal in just 30 minutes: Time is precious, and so is the joy of driving your new car. That's why our Car Loans are structured for speed, with funds disbursed in as little as 30 minutes. Apply for a car loan online, and you can instantly start the ignition for your car purchase.
  • High loan amount: Whether a compact hatchback or a luxury sedan, our new vehicle loan offers a high loan amount, giving you the flexibility to choose a car that best fits your lifestyle and budget. With generous financing, your ideal car need not be just a dream.
  • Flexible repayments: Tailor your Auto Loan to suit your financial journey with our flexible repayments. Choose a tenure that works for you, allowing you to enjoy your car without the pressure of overwhelming dues.
    Our repayment plans are adaptable, with options to prepay or part-pay, giving you control over your financial commitments.
  • 3,000+ car dealers: With a network of over 3,000+ car dealers, you are spoilt for choice. Our partnerships ensure you get a wide range of cars to select from and deals that are hard to resist.
    This extensive network gives you access to multiple brands under one roof and empowers you to negotiate better prices. Plus, our relationships with dealers allow you to benefit from exclusive offers and promotions, enhancing the value of your purchase.
  • Preferred pricing: Loyalty should be rewarded, and with Axis Bank Vehicle Finance, it is. Enjoy preferred pricing on your Auto Loan rates, making your vehicle loan experience as rewarding as the drive in your new car.
    This pricing structure means lower EMIs and more savings over the loan tenure, which can be used towards your car’s maintenance and accessories or simply saved for the future.
  • Insurance: Drive with peace of mind, knowing that our Car Loans often come with the option of insurance coverage. Protect your car against unforeseen events from the start with attractive premium options.
    The insurance plans have many benefits, including hassle-free claims and high coverage amounts, ensuring that your financial security is not compromised in case of an accident or theft.
    Additionally, the convenience of bundling your loan and insurance paperwork can save you time and further streamline the buying process.
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Car Loan eligibility

To be eligible for a Car Loan, you must be within a certain age range, have a stable income, and meet credit score requirements.
Other factors that can influence eligibility include employment type, history, and the type of car you wish to purchase.
Checking your loan eligibility before applying is a smooth road to ensure you can proceed with your Auto Loan plans.

Car Loan documents

The documents required for a Car Loan differ depending on the type of applicant. However, some common documents typically requested by lenders include:

  • KYC documents, such as passport, driving licence, Aadhaar card, voter’s ID, or job card by NREGA.
  • Documents for proof of date of birth, such as PAN card, birth certificate, Aadhaar card with DOB or driving licence.
  • Documents for proof of signature, such as passport, PAN card or banker’s verification.

For a detailed list of required documents for Car Loan sanction and disbursement, refer to the following links:

List of required documents for Car Loan sanction

List of required documents for Car Loan disbursement

Car Loan interest rate

For New Car

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

For a Used Car

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

How to Apply for a Car Loan

Online

1. Visit the Axis Bank Car Loan Apply Online page.
2. Enter your mobile number/date of birth/PAN to log in.
3. Fill in the required details, such as your age, income, employment type, loan amount, loan tenure, etc.
4. Evaluate the vehicle loan offers and proceed to apply for Auto Loan online.
5. Fill out the digital Auto Loan online application form.
6. Upload the necessary documents.
7. Upon approval, the loan amount will be directly disbursed to the authorised car dealer or seller.

Offline

1. Visit the nearest Axis Branch or associated car dealerships with the necessary documents.
2. Approach a bank representative and provide him with accurate information.
3. Fill out the new/used car financing form.
4. Submit the duly filled Car Loan form and required documents to the bank representative.
5. Once the bank approves the vehicle loan, you will be required to sign the loan agreement.
6. Following this, the Auto Loan amount will be disbursed in the least possible time.


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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