Axis Bank car loan interest rate and EMI calculator
Axis Bank car loans are at 8.80% to 11.70% a year (fixed rate). On its site, Axis Bank does not show the average rate that it charges. The calculator starts at 8.80%, the lowest rate of Axis Bank (most borrowers pay more). The calculator also shows the processing fee, the annual percentage rate (APR) and the foreclosure charge. Verification date: 27 Oct 2026.
Axis Bank car loan interest rate and charges
| Interest rate | 8.80% to 11.70% a year (fixed; 3-year MCLR 8.80% + 0% to 2.90%) |
| Average rate charged | Not published by the lender |
| Processing fee | Up to 2% of the loan, plus a documentation charge of ₹700 + GST |
| Close early / part-payment | 5% of the principal outstanding to close the loan, and 5% of a part-payment, plus GST. No lock-in. |
| Loan amount and tenure | Up to 85% of the car's value (new car) |
Axis Bank car loan EMI table
EMI at 8.80% (the rate for Axis Bank's lowest rate (most borrowers pay more)). The loan is the on-road price less your down payment.
| Loan | 3 yrs | 4 yrs | 5 yrs | 6 yrs | 7 yrs |
|---|---|---|---|---|---|
| ₹3,00,000 | ₹9,512 | ₹7,437 | ₹6,198 | ₹5,378 | ₹4,796 |
| ₹5,00,000 | ₹15,853 | ₹12,395 | ₹10,331 | ₹8,963 | ₹7,994 |
| ₹7,00,000 | ₹22,195 | ₹17,353 | ₹14,463 | ₹12,549 | ₹11,191 |
| ₹8,00,000 | ₹25,365 | ₹19,832 | ₹16,529 | ₹14,341 | ₹12,790 |
| ₹10,00,000 | ₹31,707 | ₹24,790 | ₹20,661 | ₹17,926 | ₹15,988 |
| ₹12,00,000 | ₹38,048 | ₹29,748 | ₹24,794 | ₹21,512 | ₹19,185 |
| ₹15,00,000 | ₹47,560 | ₹37,185 | ₹30,992 | ₹26,890 | ₹23,982 |
| ₹20,00,000 | ₹63,413 | ₹49,580 | ₹41,323 | ₹35,853 | ₹31,976 |
Cost of the rate on ₹8 lakh for 5 years
APR includes the highest processing fee with GST. It shows the full cost of the loan for each year.
| Rate | EMI | Total interest | APR |
|---|---|---|---|
| Lowest rate (8.80%) | ₹16,529 | ₹1,91,748 | 9.87% |
| Middle of the range (10.25%) | ₹17,096 | ₹2,25,773 | 11.34% |
| Highest rate (11.70%) | ₹17,675 | ₹2,60,471 | 12.80% |
Foreclosure: cost to close the loan
5-year loan at 8.80%. The charge is on the balance that you repay, and you also pay GST.
| Loan | EMIs paid | Balance | Charge |
|---|---|---|---|
| ₹5,00,000 | 6 | ₹4,59,275 | ₹27,097 (5%) |
| ₹5,00,000 | 18 | ₹3,72,269 | ₹21,964 (5%) |
| ₹5,00,000 | 30 | ₹2,77,290 | ₹16,360 (5%) |
| ₹10,00,000 | 6 | ₹9,18,551 | ₹54,195 (5%) |
| ₹10,00,000 | 18 | ₹7,44,539 | ₹43,928 (5%) |
| ₹10,00,000 | 30 | ₹5,54,581 | ₹32,720 (5%) |
Axis Bank and other banks
The data comes from the site of each bank. If a bank shows the average rate that it charged, that rate is the most accurate guide to the rate that a usual borrower gets.
| Lender | Rate | Average charged | Processing fee | Close early |
|---|---|---|---|---|
| State Bank of India | 8.55%–9.50% fixed | 8.90% Jul–Sep 2026 | ₹500–₹2,000 flat | 2% in first 2 years, then nil; part-payment nil |
| HDFC Bank | 7.60%–14.00% fixed | 8.63% Apr–Jun 2026 | 0.5% (₹3,500–₹8,000) + ₹700 | 5% (any time) |
| ICICI Bank | 8.00%–11.20% fixed | 8.92% Jul–Sep 2026 | Up to ₹8,500 | 3% / 2%; nil after 24 months |
| Axis Bank | 8.80%–11.70% fixed | Not published | Up to 2% + ₹700 | 5% (any time) |
| Punjab National Bank | 7.90%–10.95% floating | Not published | 0.25% (₹1,000–₹1,500); waived to 31 Dec | Nil (floating) |
| Bank of Baroda | 7.85%–11.30% floating | Not published | ₹1,500 / ₹2,000 flat | Nil (floating) |
| Canara Bank | 7.75%–10.95% floating | Not published | 0.25% (₹1,000–₹5,000); waived to 31 Dec | Nil |
| Union Bank of India | 7.85%–10.25% floating | Not published | ₹1,000 flat | Nil (own funds) |
| Bank of India | 7.85%–8.95% floating | Not published | 0.25% (₹2,500–₹10,000) | Nil (floating, RBI rule) |
Frequently asked questions
What is the Axis Bank car loan interest rate?
Axis Bank car loans are at 8.80% to 11.70% a year (fixed rate; 3-year MCLR 8.80% + 0% to 2.90%). On its site, Axis Bank does not show the average rate that it charges. The calculator uses 8.80%, the lowest rate of Axis Bank (most borrowers pay more). The bank sets your rate from your credit score, income, the car and the tenure.
What is the EMI for an ₹8 lakh Axis Bank car loan?
At 8.80%, the EMI is ₹16,529 for 5 years and ₹12,790 for 7 years. At 8.80%, it is ₹16,529 for 5 years.
What is the processing fee for a Axis Bank car loan?
Up to 2% of the loan, plus a documentation charge of ₹700. You also pay GST at 18%. On an ₹8 lakh loan, the highest fee with GST is ₹19,706.
Can I prepay a Axis Bank car loan?
Yes, at all times. But Axis Bank charges 5% of the remaining principal to close the loan and 5% of a part-payment, plus GST.
Is the Axis Bank car loan rate fixed or floating?
Axis Bank car loans are at a fixed rate: your rate stays the same for the full loan tenure. The RBI rule that prevents prepayment charges applies only to floating-rate loans. Thus, Axis Bank can charge you to close the loan before the end of the tenure.
Sources
- Axis Bank: Car Loan interest rates and charges. Read on 27 Oct 2026.
Banks frequently change these rates. We examine them each month. Your sanction letter and Key Facts Statement show the rate and charges that you pay. Use the KFS / APR checker to examine them.