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Axis Bank Car Loan EMI Calculator Aug 2017

Last Updated 17th Aug 2017

Axis Bank Car Loan EMI Calculator

Lowest EMI on Axis Bank Car Loan - Rs. 1,712 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,661 Rs. 3,274 Rs. 2,174 Rs. 1,712
Rs. 300,000 Rs. 13,982 Rs. 9,822 Rs. 6,523 Rs. 5,137
Rs. 500,000 Rs. 23,304 Rs. 16,369 Rs. 10,871 Rs. 8,561
Rs. 1,000,000 Rs. 46,608 Rs. 32,739 Rs. 21,742 Rs. 17,122
Car Loan Calculator
Rs.

Factors affecting Axis Bank Car Loan EMI

  • Borrower age should be between 21 years to maximum 70 years
  • Maximum car loan amount offered by Axis Bank is up to 95.00% of ex-showroom price
  • Interest rates starts @ 11.00% depending upon down payment, net income and other factors
  • Processing fee in Axis Bank may be 0.00% of loan amount Min Rs. 3,500 Max Rs. 5,500

Axis Bank Car Loan EMI

  • Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Axis Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Axis Bank offering car Loans with loan tenure upto 84 years, the loan EMI can be as low as Rs. 1 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Axis Bank are as low as 11.00%.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Axis Bank Car Loan Calculator Formula

Emi Calculator Formula

Here is an illustration of how Axis Bank Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 95.00% of ex-showroom price
n = tenure in month. For Axis Bank, this can be 84 months

Car Loan EMI Calculator Axis Bank - How it works?

Axis Bank Car loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

  • Axis Bank Car loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Car Loan EMI – EMI changes in case of prepayment

In case you prepay your car loan, the outstanding balance on your car loan reduces. Axis Bank gives you two options:

  • Reduce your loan tenure and keep your car EMI same
  • Reduce the amount of EMI and keep your loan tenure same

It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Axis Bank in this option.

Frequently Asked Questions on Axis Bank EMI Calculator

What is the lowest EMI per lakh offered by Axis Bank on Car loan?

Axis Bank offers car loan at 11.00% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,712.

Can I prepay my Axis Bank car loan?

Axis Bank offers you an option of prepayment at 5% charges.

Is there any processing charge on Car loan from Axis Bank?

Car Loan from Axis Bank charges a processing fee of 0.00% of loan amount Min Rs. 3,500 Max Rs. 5,500.

Axis Bank Car Loan Customer Care Number, Email, Application Status, Branches

Axis Bank Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0522-2230857
Ahmedabad 079-26563232
Ambala 0172-2620489
Anand 079-26563232
Aurangabad 022-25260501
Bangalore 080-25317830
Bhilai 1800-209-5577
Bhilwara 1800-209-5577
Bhiwadi 022-25260501
Bhopal 0755-2579009
Bhubaneswar Cuttack 0674-2572955
Bikaner 1800-209-5577
Chandigarh 0172-2620489
Chennai 044-28123888
Cochin 1800-209-5577
Coimbatore 044-28123888
Dehradun 1800-209-5577
Delhi 011-23736555
Durg 1800-209-5577
Faridabad 0124-2309447
Gandhinagar 079-26563232
Ghaziabad 0522-2230857
Goa 022-25260501
Greater Noida 011-23736555
Gurgaon 0124-2309447
Guwahati 0361-2341818
Gwalior 0755-2579009
Hyderabad 040-23418888
Indore 0755-2579009
Jabalpur 0755-2579009
Jaipur 0141-2228866
Jalandhar 0172-2620489
Jodhpur 1800-209-5577
Kanpur 0522-2230857
Karnal 0124-2309447
Kolhapur 022-25260501
Kolkata 033-22839971
Kota 1800-209-5577
Kozhikode 0471-2558588
Lucknow 0522-2230857
Ludhiana 0172-2620489
Madurai 044-28123888
Meerut 0522-2230857
Mehsana 079-26563232
Mohali Sas Nagar 0172-2620489
Mumbai 022-25260501
Mussoorie 1800-209-5577
Nagpur 022-25260501
Nashik 1800-209-5577
Noida 011-23736555
Noida Extn 011-23736555
Panipat 0124-2309447
Patna 0612-2205810
Pondicherry 1800-209-5577
Pune 022-25260501
Raipur 1800-209-5577
Rajkot 079-26563232
Ranchi 1800-209-5577
Rohtak 0124-2309447
Roorkee 1800-209-5577
Salem 044-28123888
Shimla 0177-2627711
Sonepat 0124-2309447
Surat 079-26563232
Trichy 044-28123888
Udaipur 1800-209-5577
Vadodara 079-26563232
Varanasi 0522-2230857
Vijaywada 1800-209-5577
Vizag 1800-209-5577
Axis Bank Car Loan Calculator

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