Axis Bank Personal Loan of 5 lakh

A range of options are available in the finance market to choose your loan providers. To solve your confusion, Axis Bank’s personal loan of 5 lakh is one of the popular options trusted by many borrowers. The personal loan plan ensures you can fulfill your short-term goals with minimal documentation and competitive interest rates. Customers can get instant, front-end-to-end digital financing for up to 40 lakhs in just a few seconds. Now, you can apply through the Urban Money website as well. Continue reading below to make a duly informed decision to be sure that you go through the specifics of 5 lakh personal loan eligibility by Axis Bank. 

Axis Bank Personal Loan 5 Lakh – Highlights

The following table shows the significant highlights pertaining to 5 lakh personal loan EMI

Axis Bank 5 Lakh Personal Loan EMI for 1- 7 Years

Here is the breakdown of Axis Bank’s 5 lakh loan EMI for 7 years. 

Compare 5 Lakh Personal Loan from other Banks & NBFC.

Before you apply for an Axis Bank personal loan worth 5 lakh, it’s important to evaluate and compare the interest rates offered by other Banks and NBFCs. Below, we have provided a tabular representation of interest rates offered by other options you can see on the Urban Money Website:

Axis Bank Personal Loan 5 Lakh – Fees & Charges

The table below mentions the additional fee details about Axis Bank for loans with tenure of up to 84 months. 

5 Lakh Axis Bank Personal Loan – Documents Required

Below is the list of necessary documents that you might need before applying for an Axis Bank personal loan of 5 lakh: 

• Identity Proof – A copy of passport/Voter ID/Aadhaar Card
• Address Proof– A copy of the Rent Agreement/Utility Bills (For the past 3 months only)
• Income Proof– Pay slips of the latest 2 months/Form 16 for salaried individuals; Business income proof for self-employed individuals of the past 1 year.
• Bank Statements– The latest six months’ bank statements
• Others– Duly filled out loan application form and signed agreement/ECS forms

Please note that the above documents list may vary, and further documents can be requested based on the type of loan and property you are applying for. 

5 Lakh Axis Bank Personal Loan – Eligibility Criteria

Below, we have highlighted the factors you should know to apply for 5 lakh personal loan eligibility by Axis Bank:

• Age – The applicant must be between 21 and 60 years old to qualify for the instant 5 lakh loan from Axis Bank. 
• Income – The minimum monthly income of the applicant to apply for a 5 Lakh Axis Bank Personal loan should be Rs. 15000.  
• Nationality – He/She must be a resident of India. 
• Employment Status – He/She must have at least 3 years of work experience.