Private sector bank · Car Loan
Axis Bank Car Loan 2026
Axis Bank offers fixed-rate new car loans with up to 100% on-road funding and one of the longest tenures in the market. Interest rate 8.95% – 11.75%, loan Up to 100% of on-road price, tenure 12 – 96 months (up to 8 years).
Rates as of Sep 2026 (aggregator) · Checked 30 September 2026Interest rate
8.95%
up to 11.75%EMI on ₹8,00,000 (5 yrs)
₹16,587
Axis Bank Car Loan at a glance
Interest rate8.95% – 11.75%
Processing fee₹3,500 – ₹5,500 + GST
Loan amountUp to 100% of on-road price
Tenure12 – 96 months (up to 8 years)
Rate typeFixed
Longest tenure8 years — among the longest for new cars
Lender typePrivate sector bank
Rank on this site#8 of 8 by starting rate
Strengths
- Up to 8 years tenure
- Up to 100% on-road funding
- Flat-rupee processing fee
Watch out for
- 5% foreclosure charge
- Starting rate higher than PSU banks
Axis Bank car loan interest rate & charges
| Feature | Axis Bank |
|---|---|
| Interest rate | 8.95% – 11.75% |
| Rate details | Fixed rate 8.95% – 11.75% as compiled by BankBazaar (Sep 2026); the bank’s own rate page was not machine-readable. |
| Processing fee | ₹3,500 – ₹5,500 + GST |
| Loan amount | Up to 100% of on-road price |
| Tenure | 12 – 96 months (up to 8 years) |
| Prepayment / foreclosure | Foreclosure charge 5% of principal outstanding |
| Rate type | Fixed |
| Longest tenure | 8 years — among the longest for new cars |
Special schemes & features
8-year tenure
Lowers the EMI, but raises total interest sharply
Source: www.bankbazaar.com, Sep 2026 (aggregator). Rates are indicative; your rate depends on your profile. Always check the Key Facts Statement (KFS) for the APR before signing.
EMI at Axis Bank’s rates
| Loan amount | EMI @ 8.95% | EMI @ 10.35% | EMI @ 11.75% |
|---|---|---|---|
| ₹5,00,000 | ₹10,367 | ₹10,710 | ₹11,059 |
| ₹8,00,000 | ₹16,587 | ₹17,136 | ₹17,695 |
| ₹12,00,000 | ₹24,881 | ₹25,704 | ₹26,542 |
Tenure 5 years, reducing-balance method. Total interest on ₹8,00,000 at 8.95%: ₹1,95,237.
Axis Bank car loan EMI calculator
Eligibility
- Indian residents (and NRIs at some banks, e.g. SBI NRI Car Loan); minimum age usually 18 – 21, with an upper age limit at loan maturity set by each bank
- Salaried, self-employed professionals, business owners and (at PSU banks) agriculturists
- Minimum income typically ₹3 lakh a year (SBI, HDFC Bank, Canara) or ₹25,000 net a month (PNB)
- Credit score: the lowest rates need 750–800+; Bank of Baroda needs at least 701
- Total EMIs (including the new car loan) usually within about 50% of net income
- Car must be registered in the borrower’s name with the bank’s hypothecation noted on the RC
Documents required
- Application form with photographs
- KYC: PAN (mandatory) and Aadhaar / passport / voter ID / driving licence
- Income proof — salaried: last 3 salary slips and Form 16; self-employed: 2 years’ ITR with computation, P&L and balance sheet
- Bank statements for the last 6 months
- Proforma invoice / quotation from the dealer showing on-road price
- Employment or business continuity proof
- After purchase: RC copy with hypothecation, insurance policy naming the bank, and final invoice
How to apply for Axis Bank Car Loan
- Pick the car and get a quoteAsk the dealer for an itemised on-road quotation — ex-showroom, road tax, registration, insurance, TCS and accessories.
- Compare offersCheck rate, rate type (fixed / floating), processing fee, foreclosure charges and the APR in each lender’s Key Facts Statement.
- ApplyOnline, through the bank app, at a branch or at the dealership; many banks give pre-approved offers to existing customers.
- SanctionThe bank checks your credit report, income and the car’s price, then issues a sanction letter and KFS.
- Sign and pay marginSign the loan agreement, set up NACH/e-mandate for EMIs and pay your down payment to the dealer.
- Disbursal and registrationThe bank pays the dealer directly; the RTO registers the car with the bank’s hypothecation on the RC. Submit the RC and insurance copies to the bank.
Axis Bank vs other lenders
| Lender | Rate | Processing fee | Tenure | EMI on ₹8,00,000 |
|---|---|---|---|---|
| Canara Bank Car Loan | 7.45% – 15.00% | 0.25% of loan (min ₹1,000, max ₹5,000) + GST; 50% waiver from 1 Jul to 30 Sep 2026 | Up to 84 months (7 years) | ₹16,011 |
| Bank of Baroda Car Loan | 7.60% – 11.30% | Up to ₹10 lakh: ₹1,500 + GST; above ₹10 lakh: ₹2,000 + GST; ₹500 + GST for government / PSU employees | Up to 84 months (7 years) | ₹16,068 |
| PNB Car Loan | 7.60% – 9.70% | 0.25% of loan (min ₹1,000, max ₹1,500) + GST | Up to 84 EMIs (7 years) | ₹16,068 |
| Union Bank of India Car Loan | 7.60% – 10.00% | ₹1,000 + GST (aggregator); often waived for electric vehicles | Up to 84 months (7 years) | ₹16,068 |
| HDFC Bank Car Loan | 8.15% onwards | Up to 0.5% of loan (min ₹3,500, max ₹8,000) per BankBazaar; ClearTax shows 1% (min ₹3,500, max ₹9,000) — plus GST | 12 – 84 months | ₹16,279 |
| ICICI Bank Car Loan | 8.40% onwards | Up to ₹8,500 + GST | 12 – 84 months | ₹16,375 |
| SBI Car Loan | 8.40% – 9.35% | Up to ₹5 lakh: ₹500 (salaried) / ₹750 (others); ₹5 – 10 lakh: ₹1,000 / ₹1,250; above ₹10 lakh: ₹1,500 / ₹2,000 — all + GST | Up to 7 years (Green Car Loan up to 8 years) | ₹16,375 |
| Axis Bank Car Loan | 8.95% – 11.75% | ₹3,500 – ₹5,500 + GST | 12 – 96 months (up to 8 years) | ₹16,587 |
Frequently asked questions
What is the Axis Bank Car Loan car loan interest rate?
Axis Bank car loan rates start at 8.95% and go up to 11.75% p.a. (as of Sep 2026 (aggregator)). The rate you get depends on your credit score, income and loan details.
What is the EMI for ₹8,00,000 from Axis Bank?
At 8.95% for 5 years the EMI is about ₹16,587, with total interest of ₹1,95,237.
What is the processing fee?
Axis Bank: ₹3,500 – ₹5,500 + GST. GST at 18% applies on fees.
What is the maximum tenure?
Axis Bank: 12 – 96 months (up to 8 years).
Can I prepay or foreclose the loan?
Axis Bank: Foreclosure charge 5% of principal outstanding.
Information compiled from the lender’s published rates and reputable aggregators for comparison only. FinancePortal is not affiliated with Axis Bank Car Loan. Terms change — confirm with the lender.