Personal loans from Axis Bank are processed quickly. Personal loans can be used for a wide range of purposes. They come in handy when you're planning a vacation, upgrading your home or preparing a dream wedding for yourself or a loved one. Axis Bank offers personal loans ranging from INR 50,000 to INR 15,00,000 with quick approval and minimal documentation. You can also transfer your current high interest Personal Loan to Axis Bank through Balance Transfer.
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Check Axis Bank Personal Loan Eligibility
Features and Benefits of Axis Bank Personal Loan
When you apply for a personal loan from Axis Bank, you unlock an array of features. Before applying for a personal loan you must get familiar with these features in advance to determine what deal you are going to get.
Axis Bank Personal Loan Features
- To apply for a Personal Loan from Axis Bank, you must be at least 21 years old and have a complete set of documentation, including identification, proof of income, and proof of residence, among other things.
- You can use the EMI (Equated Monthly Instalment) service to make it easier to pay off your Personal Loan quickly. The repayment period can be anywhere from 12 to 60 months. If you have an Axis Bank account, together with a good credit score, you can get the best personal loan rates!
- A personal loan calculator can help you figure out how much you'll have to pay each month. You can select your tenure and the monthly payment amount that you are comfortable with for that tenure. By using the personal loan EMI calculator, you can know the exact amount you will pay at the end of loan tenure including the interest component.
- You can easily apply for an Axis Bank personal loan through an online portal by submitting minimal documents.
Axis Bank Personal Loan Benefits
- With Axis Bank, personal loan assistance, cope with your financial obligations outright, without letting the money needs hold you back.
- Get quick approval for the personal loan from INR 50,000 to 15,00000 lakhs.
- Opt for the loan repayment tenure at your convenience from 12 months to 60 months.
- Easily calculate your monthly instalments through EMI calculators by entering certain details such as amount, interest rate, and tenure.
- Enjoy best interest rates as Axis Bank offers personal loans starting at 12 percent.
- Availability of balance transfer allows you to transfer existing loans with higher interest rates to a lower one with Axis Bank.
- Hassle-free personal loan procedure with minimal documentation.
- Axis eDGE reward points on every transaction.
Axis Bank Personal Loan Overview
When you are short on funds and can't meet your financial obligations, financial assistance can come in handy. Axis Bank endeavours to provide the best personal loan offers at competitive interest rates to its customers. To get a step closer to your dreams, apply for an Axis Bank personal loan at reasonable interest rates.
Personal loans from Axis Bank are processed quickly. Personal loans can be used for a wide range of purposes. They come in handy when you're planning a vacation, upgrading your home or preparing a dream wedding for yourself or a loved one. You don't have to put off anything on your bucket list any longer! Axis Bank offers personal loans ranging from INR 50,000 to INR 15,00,000 with quick approval and minimal documentation. You can also transfer your current high-interest Personal Loan to Axis Bank through Balance Transfer. Turn your aspirations into reality with a swift approval on personal loans by being familiar with Axis Bank personal loan requirements.
Axis Bank Personal Loan Eligibility Criteria
You have to cope with below depicted Axis Bank personal loan eligibility criteria to avail a personal loan with utmost ease:
- You must fall in the category of salaried employees: - Salaried doctors - Employed in public or private LTD. companies - Government employee
- Applicant must be at least 21 years old
- At the time of loan maturity, the applicant's age should not be above 60 years.
- The applicant must have a net monthly income of INR 15,000
Factors Affecting Axis Bank Personal Loan Interest Rates
The interest rate has a considerable impact on the affordability of a personal loan. The higher the rate of interest, the greater the loan EMI. Many factors influence how the lender and individual banks adjust Axis Bank interest rate for various people. These are the considerations that banks make before making a decision:
Income
One of the most important elements that determines the outcome of your loan application is your income. As the bank must be certain that you will be able to repay the loan, the higher your salary, the more the bank will trust you and the lower the interest rate charged.
Credit History
Before approving your loan application, banks or NBFCs look at your CIBIL score. Your credit score is a three-digit number that represents your creditworthiness. A good credit score indicates that you are responsible with your money and will be able to pay back your debts on time.
Reputation of the Organisation
A bank's interest rate will be lower for salaried employees who work for a reputable company. They are thought to have a solid job and will be able to pay their bills on time.
Payment History of Loans
Before settling on an interest rate, banks will look at your payment history as well as your CIBIL score. You will most likely be charged a lesser interest rate if you have been consistent with your payments. Customers that have not defaulted in the previous 12 months are preferred by most banks. Banks typically reject most loan applications or charge exorbitant interest rates submitted by applicants who have a defaulter repayment record.
Relationship with the Bank
You are considered a loyal customer if you have availed multiple products or have multiple accounts with your bank. This dedication fosters a personal relationship with your bank which might help you qualify for low-interest Axis Bank personal loans.
Axis Bank Fees and Charges
Category | Applicable Charges |
Personal Loan Interest Rate | 12% to 21% |
Repayment instruction or/ Instrument return charges | INR 339 per instance in addition to GST as applicable |
Swap charges applicable for Cheque and other Instrument | INR 500 per instance in addition to GST as applicable |
Penal Interest | 24 percent per annum ( 2 percent on monthly basis over the overdue instalment) |
Issuance of Duplicate Statement | INR 250 per instance in addition to GST as applicable. |
Issuance of Duplicate Amortisation schedule | INR 250 per instance in addition to GST as applicable. |
Charges levied on the issuance of report from Credit Information Companies (CICs) | INR 50 per instance in addition to GST as applicable. |
Charges levied on the generation of duplicate No Dues Certificate | INR 50 per instance in addition to GST as applicable. |
Stamp Duty Charges | Based upon State Stamp Act |
Foreclosure Charges | A foreclosure charge is levied on the outstanding loan amount based upon remaining tenure.
|
Axis Bank Personal Loan Interest Rates
Axis Bank personal loan interest rate begins from 10.25 percent per annum. The applicable interest rate is determined based upon certain factors such as credit score, applicant’s age, financial stability, income, job profile, repayment history, and much more. Following table depicts the Axis Bank personal loan interest rate for 36 month of repayment tenure:
Fixed Rate Loan | 1 Yr MCLR | Spread over 1 year MCLR | Applicable Rate of Interest | Reset Option |
Personal Loan | 7.35 percent | 4.65 -13.65 percent | 12 to 21 percent | No Reset |
Documents Required for Axis Bank Personal Loan
You need to be prepared with following documents beforehand to access the uninterrupted personal loan application procedure:
- Duly filled personal loan application form
- KYC Documents
- Loan Agreement (duly signed)
- Standing Instruction (SI) Request and ECS Forms
KYC Documents
Voter ID Card | Job Card |
Passport | PAN Card |
Driving Licence | Aadhaar Card |
Documents for Age Proof
Birth Certificate | Passport |
School Leaving Certificate | Driving Licence |
Aadhaar Card |
Signature Proof
Passport | Banker's Verification |
Pan Card |
Income Proof
Pay Slip (last two months) | Employment proof |
Bank Statement depicting salary credits (last two months) |
How Does the EMI Calculation Work for Axis Bank Personal Loans?
You can count on a personal loan EMI calculator to compute values in fraction of seconds. You just need to choose three values by scrolling the bar from left to right. These are
Loan amount | Tenure |
Interest Rate |
The Equated Monthly Instalment will be shown on the screen outright in INR.
How Does Axis Bank Compare with Other Lenders?
Banks or NBFCs | Personal Loan Interest Rate |
Axis Bank | 12 percent onwards |
HDFC Bank | 11 percent to 21 percent |
SBI | 8.55% onwards |
PNB | 8.9% to 14.45% percent |
ICICI Bank | 10.75% to 19% percent |
Kotak Mahindra Bank | 10.99 percent onwards |
IndusInd Bank | 6.7 percent onwards |
IDFC First Bank | 10.49% - 25% percent |
Bajaj Finserv | 11 percent onwards |
Tata Capital | 10.99 percent onwards |
Axis Bank Personal Loan Customer Care Number
You can get in touch with customer care executives by calling on any of the following numbers:
1-860-419-5555 | 1-860-500-5555 |
Need Loan Assistance?
Connect with Personal Loan Advisor Now!
Axis Bank's Calculators
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Axis Bank's Other Products
Axis Bank's IFSC Codes
- Axis Bank Andaman and Nicobar
- Axis Bank Andhra Pradesh
- Axis Bank Assam
- Axis Bank Bihar
- Axis Bank Chandigarh
- Axis Bank Chhattisgarh
- Axis Bank Dadra and Nagar Haveli
- Axis Bank Daman and Diu
- Axis Bank Delhi
- Axis Bank Goa
- Axis Bank Gujarat
- Axis Bank Haryana
- Axis Bank Himachal Pradesh
- Axis Bank Jammu and Kashmir
- Axis Bank Jharkhand
- Axis Bank Karnataka
- Axis Bank Kerala
- Axis Bank Madhya Pradesh
- Axis Bank Maharashtra
- Axis Bank Manipur
- Axis Bank Meghalaya
- Axis Bank Mizoram
- Axis Bank Nagaland
- Axis Bank Odisha
- Axis Bank Puducherry
- Axis Bank Punjab
- Axis Bank Rajasthan
- Axis Bank Sikkim
- Axis Bank Tamil Nadu
- Axis Bank Telangana
- Axis Bank Tripura
- Axis Bank Uttarakhand
- Axis Bank Uttar Pradesh
- Axis Bank West Bengal
Personal Loan By Other Banks
- Bank of Baroda Personal Loan
- HDFC Bank Personal Loan
- ICICI Bank Personal Loan
- Bajaj Finserv Personal Loan
- IndiaBulls Personal Loan
- Canara Bank Personal Loan
- CITI Bank Personal Loan
- DHFL Personal Loan
- YES Bank Personal Loan
- Union Bank of India Personal Loan
- Federal Bank Personal Loan
- IndusInd Bank Personal Loan
- State Bank of India Personal Loan
- IDFC FIRST Bank Personal Loan
- Punjab National Bank Personal Loan
- Hero FinCorp Personal Loan
- IDBI Bank Personal Loan
- Kotak Bank Personal Loan
- Deutsche Bank Personal Loan
- Shriram Urban Co Operative Bank Limited Personal Loan
- Tata Capital Housing Finance Limited Personal Loan
- InCred Financial Services Personal Loan
- Standard Chartered Bank Personal Loan
- Punjab & Sind Bank Personal Loan
- Reliance Capital Personal Loan
- Ujjivan Small Finance Bank Personal Loan
- Indian bank Personal Loan
- Capital First Ltd. Personal Loan
- Muthoot Finance Ltd Personal Loan
- RBL Bank Personal Loan
- Clix Capital Personal Loan
- Aditya Birla Finance Limited Personal Loan
- L&T Finance Personal Loan
- Loantap Credit Products Private Limited Personal Loan
- Paysence Service Pvt Ltd Personal Loan
- Poonawalla Fincorp Limited Personal Loan
- Fullerton India Personal Loan
- Tata Capital Financial Services LTD Personal Loan
- IIFL Finance Personal Loan
- Edelweiss Financial Services Personal Loan
- Bank of India Personal Loan
- DCB Bank Personal Loan
- Bank of Maharashtra Personal Loan
- karnataka bank Personal Loan
- AU Small Finance Bank Personal Loan
- karur Vysya Bank Personal Loan
- HDFC Sales Personal Loan
- FT Cash Personal Loan
- HSBC Personal Loan
- MoneyWide Personal Loan
Financial Calculators
FAQs
From refinancing to reducing your interest, we have the answers right here.
Can you switch to a floating rate from a fixed rate during loan tenure?
Yes, you can switch to floating rate from the fixed rate during your loan tenure. It will help to avail benefits of lower personal loan interest rates.
Is opting for a personal loan worth It?
Yes, it is the foremost financial product to meet uncertain financial obligations outright. You don’t have to pledge collateral to avail a personal loan.
When does the personal loan repayment period start?
The personal loan repayment period starts from the very next month when the loan amount gets disbursed in the loan account.
Can I reduce my personal loan tenure in case of a rate hike?
Yes, you can get in touch with your loan officer to reduce your loan tenure. Although, you might have to pay increased EMI’s to repay the loan amount in lesser tenure.
What is the minimum salary for a personal loan?
You must have a minimum salary of INR 15,000 to avail a personal loan from Axis Bank.
Does Axis Bank provide personal loans at the best rate?
Yes, Axis Bank provides a personal loan at the best rate starting from 10.49 percent per annum.
What are the benefits Axis Bank provides on personal loans?
Axis Bank offers certain benefits on a personal loan such as minimal documentation, quick approval, online KYC, best interest rates, and flexible loan tenure.
Does Axis Bank check for CIBIL score for a personal loan?
Yes, Axis Bank takes the CIBIL score into consideration to determine the applicant’s creditworthiness before loan approval.
What is the maximum and minimum personal loan amount I can get from Axis Bank?
Axis Bank offers a personal loan amount from INR 15,000 to INR 15,00,000 lakhs based upon applicants’ credibility.
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