AXIS bank car loan india

Axis Bank is in advanced stages of beta testing a new method of using mobile phones to make payments. The service is expected to be fully launched in just three months. A pilot study involving 500 customers of Axis Bank is currently being conducted at various locations. If this mobile payment method is implemented, users can swipe their mobile phone and conduct various transactions, which were earlier possible using the credit cards.

Axis Bank opened its 15th branch in Kerala at Willingdon Island, reports Business Line.

Though it is true that taking your time to analyze different loan offers can save you money, it is also true that letting too much time go by can also cost you a lot of money. As always some sort of equilibrium is needed and you should hasten the process enough while not rushing in to close a deal on the first offer you receive.

Private sector Axis Bank plans to recruit about 4,500 people this year, which is around 40% of the banks' total staff strength at the end of March 2007, S Bhattacharya, president, human resources, Axis Bank, said.

The third largest private sector bank is now being looked at by the investing community as one of the most promising opportunities.

Now Axis Bank offering the best compare car loan rates for the dreamers who all wanna car at very low EMI's.

It's rechristening, as Axis Bank, from the earlier UTI BANK, has been rather smooth and in many ways created a new identity for the bank. The bank has been building key strengths over the years and has been largely hidden behind the more glamorous and bigger banks.

Eight Indian companies, primarily from the financial services, IT, retail and aviation sectors are expected to invest in Hong Kong next year, Invest Hong Kong's Associate Director-General Simon Galpin said.

Axis Bank Ltd., India's third-biggest non-state financial services company by assets, said second- quarter profit rose 61 percent as it earned more from selling loans and financial products. The stock gained.

Private sector player Axis Bank announced the opening up of another branch in Hyderabad on Sunday, as yet another step towards focus on extensive consumer banking.

After inaugurating the branch at Chandanagar near here, C.P. Rangarajan, President, Axis Bank, in a statement said, "This marks yet another step towards the extensive consumer banking focus across the country and reinforces our commitment to bring superior banking services, marked by convenience and closeness to customers."

Referring to other services, the bank stated that it provides payroll services to over 12,000 corporates across 28 lakh salary accounts. The bank's market capitalisation as on September 17 was Rs 23,450 crore, which is the fifth largest for a bank in terms of market capitalisation in India.

The high-decibel campaign for a bank that had till now banked on one of the best known financial brands in the country. I am referring to the makeover from UTI Bank to Axis bank. The move was prompted by the fact that after January 2008 only the UTI Mutual Fund will have the right to the UTI name.

The first campaign that was featured was a false cover page for Mid-Day going the broadsheet way. The campaign very much focussed on the idea of the awareness of the bank changing its name to 'Axis Bank'. From UTI to Axis, India's third largest private sector bank has gone in for a brand makeover. Though, not by choice. Back in 2002, the government allowed UTI mutual fund to use the UTI brand and other divisions including UTI Bank were permitted to use the brand name till January 2008.

Sources say, the bank was keen to retain the UTI brand name and after a year long tiff with the murtual fund, the bank has given up what was its identity for the last 13 years. President, Retail Banking, Axis Bank, Hemant Kaul told CNBC-TV18, "UTI Bank kas contributed more than its fair share in the resurgence of the UTI brand. But all said and done, UTI is a public sector brand, UTI is a board-managed private bank, so, perhaps the new image will be more in consonance with what we actually are."

The UTI Bank counter witnessed frenzied buying at the BSE making the scrip hit the 20 per cent circuit breaker when it touched Rs 114.90 per share this morning following the decision by global bank HSBC to buy a 14.71 per cent stake in UTI Bank.

The bank's scrip hit the circuit breaker for the first time after trading commenced on the BSE this morning. Yesterday, the scrip closed at Rs 95.10 per share.

Though foreign banks are allowed to hold 49 per cent in a private sector bank, reports that the government is planning to raise the FDI limit in private banks to 74 per cent also led to a lot of activity at the other banking counters.

Along with the UTI Bank scrip, most of the banking stocks were in the limelight today. The BSE Bankex was up by 86.08 points or 3.51 per cent to 2541.74 points.

->Minimum age of applicant: 21 years

->Maximum age of applicant at loan maturity: 58 years

->Income: Minimum income of Rs. 1 Lac p.a. for selected models and Rs. 2 Lac p.a. for others

->Income eligibility: As per latest salary slip or Form 16

->Employment: Minimum 2 yrs cumulative experience.

->Minimum age of applicant: 21 years

->Maximum age of applicant at loan maturity: 65 years

->Income: Minimum income of Rs. 60,000/- p.a. for selected models and Rs. 1 Lac p.a. for others

->Income eligibility - As per latest ITR and computation of income

->Employment: Minimum 3 yrs cumulative experience in business.

UTI Bank has decided to hike its paid-up equity by 10-15 per cent and buy loan portfolios of other financial institutions as part of efforts for organic growth.

The bank, aiming a 30-35 per cent growth in business in this fiscal, would add 20-25 branches more in this fiscal, even as it kept the options open on insurance sector once proper systems were in place, according to its Chairman and Managing Director P J Nayak.

"We plan to raise the paid-up equity by 10-15 per cent by second half of this fiscal," Nayak said here inaugurating the 114th branch.

The idea of going online to sell ‘repossessed' vehicles struck Harpreet Singh last year.

The business director (wealth management and loans) of Centurion Bank of Punjab hasn't regretted hitting that road to dispose of vehicles that he forcibly took possession of, after clients defaulted on loan repayments.

More and more banks are using the online route to dispose of re-possessed vehicles. Sujan Sinha, senior vice-president, retail assets, UTI Bank, says this is the best way to minimise losses.

"By roping in e-portals and automobiles, we can get better recoveries," he said. UTI Bank started its car loan business only in February 2007, and has not witnessed defaults so far.