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Axis Bank Two wheeler Loan Interest Rate

Current Axis Bank Two wheeler Loan Interest Rates India Apr 2021

Last Updated 07th Apr 2021

Interest Rates 10.80%
Maximum Loan Amount Eligibility 100% of Ex-ShowRoom Price
Maximum Loan Tenure 5 years
Lowest EMI per ₹ Ten Thousand Loan Amount ₹ 216
Processing Fee Upto 8% of loan amount
Prepayment Charges Nil charges after 12 EMIs
Age Between 21 years and 60 years
Apply for Two Wheeler Loan @ 11.60%*

Axis Bank Two wheeler Loan

Axis Bank Bike Loan Interest Rates

Axis Bank bike loan Interest rate calculator works on various inputs like:

  • Salary - Higher salary bracket individuals are offered loans at lower interest rates. Axis Bank auto loan rate varies with your net monthly income.
  • Employer category – Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. Axis Bank has a list of company categories of salaried individuals to which they avail two wheeler loans. So, higher company category leads to low rate of interest.
  • Type of two wheeler - Axis Bank interest rate depends upon the type of bike you want to buy. If you have applied loan for a high value two wheeler, then the bank offer low interest rate on your two wheeler.
  • Relationship with the Bank – Axis Bank offers special rates, offers and charges to the salary account holders of the bank. Those who have managed their accounts low Axis Bank 2 wheeler interest rate.

Axis Bank Two wheeler Loan Eligibility

Eligibility of 2 wheeler loan in Axis Bank relies upon different factors but the most important factor is your ability to repay the loan. Two wheeler loan calculator calculates eligibility of an applicant depending upon various factors like

  • Age: Age plays an important role to know your eligibility and repayment capacity. Axis Bank offers two wheeler loan to individuals who are atleast 21 years old at the time of loan approval and maximum 60 years at the time of loan maturity.
  • Income: Axis Bank bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. Axis Bank asks for net monthly income of ₹ 12,000 from salaried professionals.
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your two wheeler loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your two wheeler loan eligibility.

Axis Bank Two wheeler Loan EMI

Two wheeler Loan EMI of Axis Bank is a fixed amount that you pay each month towards the repayment of your bike loan till the end of tenure. Lowest EMI offered by Axis Bank is ₹ 216 per ten thousand loan amount at lowest two wheeler loan interest rate of 10.80%. Axis Bank bike loan EMI calculator depends on factors like:

  • Auto Loan Axis Bank interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
  • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
  • Two wheeler loan EMI calculation varies from bank to bank depending upon the method of calculation

Axis Bank 2 Wheeler Loan Apply

Axis Bank gives the facility of bike loan to the people who want to fulfil their dream of having their own 2 wheeler. There are some features and benefits of taking auto loan from Axis Bank:

Documents Required for Axis Bank 2 wheeler Loan

Two wheeler loan Axis Bank documents for salaried employees

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months pay slip, bank statement of 3 months showing salary credit and any EMI debit

Two wheeler loan Axis Bank documents for Self-Employed

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Last 2 years ITR
  • Business existence proof such as VAT/ service tax registration, business address proof, incorporation details in case of companies

FAQs

How much interest is charged by Axis Bank on two wheeler loan?

Axis Bank bike loan interest rates today are 10.80% to 28.30%.

What is the lowest EMI for ten thousand amount on Axis Bank two wheeler loan?

If you apply for a 2 wheeler loan from Axis Bank, your lowest EMI for ten thousand amount will be ₹ 216.

What is the maximum tenure of Axis Bank bike loan?

You can repay your bike loan from Axis Bank in a flexible period of maximum 5 years.

How much auto loan I can borrow from Axis Bank?

Axis Bank offers you 100% of Ex-ShowRoom Price of two wheeler as loan.

How much processing fee is charged by Axis Bank on bike loan?

Axis Bank charge a processing fee of Upto 8% of loan amount with applicable service tax.

Is age an eligibility factor to get two wheeler loan from Axis Bank?

Yes, age is an important eligibility factor to get Axis Bank two wheeler loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.

Are there any prepayment charges on Axis Bank two wheeler loan?

You can foreclose your two wheeler loan from Axis Bank with Nil charges after 12 EMIs.


Axis Bank Two Wheeler Loan News - Apr 2021
  • 2021-03-05 : Axis Bank launches WhatsApp banking
    Axis Bank launched banking services on WhatsApp. The new facility will enable its retail customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time.
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-01-28 : Axis Bank Q3 net profit down 36%
    Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore
  • 2020-10-30 : Axis Bank reported a net profit of ₹1,623 crores in Q2
    Axis Bank reported a net profit of ₹1,682.67 crores in the Q2 of FY21, as against a loss of ₹112 crores in the same period last year. The net interest income increased 20% y-o-y to ₹7,326 crore and its net interest margin (NIM) stood at 3.58%. Further, retail loans which include home, personal, gold, two-wheeler, gold and car loan grew 12% y-o-y to ₹3.05 trillion, accounting for 53% of the net advances of the bank.
  • 2020-10-23 : Axis Bank announced festive benefits
    Axis Bank announced Dil se Open Celebrations that will offer deals and discounts on more than 1 lakh branded products on purchase through Axis Bank credit and debit cards. Further, the bank is also offering some key benefits to customers who are in need of a loan, offering home loans starting at 6.90% as well as car loans at 7.99% and up to 100% road funding.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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