What is Personal Loan?

VIZAG LOANS Bank offers uniquely tailored Car Loan products that take the pain and hassle out of buying a car. Flexible, transparent, quick, and cost-effective, our Car Loans put the joy back into owning a car.

At VIZAG LOANS, we realize that owning a car has increasingly become a necessity. But we also realize that the price tag of your dream car may be just outside your immediate grasp. VIZAG LOANS Auto Loans are just what you need to bridge the gap.

Benefits of Personal Loan.

Personal Loans for salaried and self-employed individuals

•   Car Loan value calculated on ex-showroom price of the vehicle
•   Attractive interest rates on Car Loans.
•   LTV up to 95% of the ex-showroom price on select models.
•   Auto loans available for salaried and self-employed individuals, proprietorships, HUF, Partnership firms, Limited Liability Partnership Firms, Trusts, Societies and Companies
•   Banking surrogate schemes available
•   Loans offered from Rs. 1 Lakh onward
•   Car Loans tenure from 1 year to 5 years
•   Calculate your monthly outgo with our Car Loan EMI Calculator
•   Special benefit available for Priority Banking, Wealth Banking and Privee banking customers. To know more, contact your Relationship Manager today!
•   Special Surrogate Scheme available for Club 50 and Channel One Current Account customers
•   Special Scheme for Axis Bank Salary A/C customers

All of the above is subject to terms and conditions.

Eligibility Criteria

Salaried Individuals

•   Minimum age of applicant: 21 years
•   Maximum age of applicant at loan maturity: 70 years (Conditions apply)
•   Income: Minimum Net Annual Salary of Rs. 2.4 Lac p.a. for all approved car models
•   Income eligibility: As per latest salary slip and Form 16
•   Employment: Minimum 1 year of continuous employment

Self-employed Individuals

•   Minimum age of applicant : 18 years
•   Maximum age of applicant at loan maturity : 75 years
•   Income: Minimum Net Annual Business income of Rs. 1.8 Lac p.a. for selected models and Rs. 2.0 Lac p.a. for others
•   Income eligibility - As per latest ITR
•   Employment: Minimum 3 yrs in same line of business.

Self-employed Non Individuals

•   Income: Minimum Net Annual Business income of Rs. 1.8 Lac p.a. for selected models and Rs. 2.0 Lac p.a. for others
•   Income eligibility: As per latest 2 year ITRs and audited financial of 2 years along with computation of income