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- Solution for Exporters
- 24x7 Loans
For MSMEs with turnover up to ₹100Cr
Get that new accessory you’ve been waiting for
with 24x7 Car Loan Top Up
Digital, Instant and Simple
Apply NowDocument-free loan
Cash loan facility
Minimum loan amount ₹20,000
24x7 Car Loan Top Up
Car loan top up is additional fund granted to applicants against their existing car loan thus the rates for these also tend to be more favourable than unsecured loans. These funds may be used to upgrade your existing car or cater to any other need. With 24x7 car loan top up, Axis Bank helps you secure the same facility without having to visit the bank’s branch. So, whether you are considering the refurbishment of your house or car, consider opting for a 24x7 car loan top up
Features & Benefits
Instant disbursal
Avail instant credit of funds if you have a pre-qualified top-up offer on your existing car loan with Axis Bank.
Get high-value loans
Obtain loan amount of up to ₹25 lakhs.
Anytime. Anywhere
No restriction on time or place when applying for the loan. Do it online in an effortless manner.
Use the loan as you wish
You can use the loan to meet any personal and business requirements. T&C Apply.
Interest Rates & Charges
Interest rates & charges for 24x7 car loan top up
| Loan Tenure | 3 Yr MCLR | Spread over MCLR | Effective ROI Range | Reset | Processing Fee | Documentation Charges |
|---|---|---|---|---|---|---|
| Up to 38 months | 8.85% | 6.65% - 8.65% | 15.50% -17.50% | No reset | 2% + GST of loan amount | ₹700 |
| Over 38 months | 8.85% | 4.15% - 6.15% | 13.00% -15.00% | No reset | 2% + GST of loan amount | ₹700 |
24x7 car loan top up charges
At Axis Bank, we offer 24x7 car loan top up at highly competitive interest rates and minimal processing charges, which are completely transparent. Find out the 24x7 car loan top up charges below.
| Sr. no | Type | Charges |
|---|---|---|
| 1 | Repayment Instruction/instrument Return Charges | ₹500 per instance + GST as applicable |
| 2 | Duplicate Statement Issuance Charges | ₹250 per instance + GST as applicable |
| 3 | Duplicate Repayment Schedule Issuance Charges | ₹250 per instance + GST as applicable |
| 4 | Duplicate No Dues Certificate / NOC | ₹250 per instance + GST as applicable |
| 5 | Loan Cancellation / Booking Charges | ₹ 550/- per case + GST as applicable |
| 6 | Stamp Duty | At Actuals |
| 7 | Issuance of Credit Report | ₹50/- per Instance + GST as applicable |
| 8 | Service Charge/ Processing fees | Up to 2% of the loan amount + GST as applicable |
| 9 | Penal Charges (No GST) | ^Financial Default: 8% p.a. on the overdue amount (subject to aggregate penal charges not exceeding ₹1,00,000 (INR One lakh) per instance), subject to minimum of ₹300. There shall be no capitalisation of Penal Charges. In addition to the penal charge, the borrower will be required to pay the regular interest on overdue EMI / overdue interest/overdue principal which would be charged at contracted or applicable interest rate for the days it remains overdue. |
| 10 | Material Terms & Conditions | Financial Default: 1. Non-payment Of interest / installment on due date 2. Financial Default also includes all types of payment or financial defaults/irregularities with respect to the Loan Account |
| 11 | Cheque Swapping Charges | ₹500 per instance + GST as applicable |
| 12 | Documentation Charges | ₹700/- + GST as applicable |
| 13 | Registration Certificate Collection Charges | ₹600/- per Instance + GST as applicable |
| 14 | ROC Charge Creation Fee | ₹2500/- per Instance + GST as applicable |
| 15 | Foreclosure Charges | 5% Of the Principal Outstanding + GST as applicable. Foreclosure charges are not applicable for fixed rate loans up to ₹ 50 lakhs to Micro and Small Enterprise (MSE). No Lock-in period for foreclosing the loan |
| 16 | Part-Payment Charges | 5% on the amount being prepaid + GST as applicable. Part Payment charges are not applicable for fixed rate loans up to ₹ 50 lakhs to Micro and Small Enterprise (MSE). No Lock-in period for making part payment of the loan |
| 17 | Valuation Charges (Applicable for Used Car Only) | ₹ 750/- per Instance + GST as applicable |
Note: All of the above charges are subject to change as per the Bank's discretion from time to time
Eligibility for 24*7 car loan top-up
Eligibility is determined as per bank's internal policies.
Documentation for 24*7 car loan top-up
Salaried Individuals
- Application Form
- KYC Documents
- Income Proof: Latest 2 Salary Slips & Form 16
- Bank Statement for the last 3 months
- Age Proof: PAN Card, DL, Passport or Birth Certificate
- Sign Verification Proof: PAN Card or Passport / Banker’s Verification
- Employment Continuity Proof: Appointment Letter, ITR or Form 16
Self-employed individuals
- Application Form
- KYC Documents
- Income Proof: Latest ITR
- Bank Statement for the last 3 months
- Age Proof: PAN Card, DL, Passport or Birth Certificate
- Sign Verification Proof: PAN Card or Passport / Banker’s Verification
- Employment Continuity Proof: Sales Tax / VAT / Shop Registration
Partnership firms / trust / societies
- Application Form
- KYC Documents
- Income Proof: Audited Balance Sheet, P&L, and latest 2 years’ ITR
- Bank Statement for the last 3 months
- Age Proof: PAN Card / Authority Letter by Partners
- Sign Verification Proof: Authority Letter & Board Resolution
- Employment Continuity Proof: Sales Tax / VAT / Shop Registration
Private / Limited companies
- Application Form
- KYC Documents
- Income Proof: Audited Balance Sheet, P&L, and latest 2 years’ ITR
- Bank Statement for the last 3 months
- Age Proof: PAN Card / Board Resolution
- Sign Verification Proof: List of Directors & Shareholding Pattern
- Employment Continuity Proof: Certificate of Commencement of Business
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