Axis Bank Personal Loan of 7 lakh

Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

Written By
Thejus KS
Thejus KS
A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Looking for a personal loan online? Axis Bank personal loan of 7 lakh offers one of the most attractive choices with low-interest rates starting from 10.49% p.a. The flexible tenure ranging from 12 to 84 months, empowers its customers to make versatile financial decisions for diverse needs. Thus, borrowers can enjoy the benefits of tailoring their repayment schedule to navigate their financial journey with trust and ease. Learn about the features and benefits of an instant 7 lakh loan from Axis Bank and when the best time to apply for it is below. 

Axis Bank Personal Loan 7 Lakh – Highlights

Let’s just throw some light on the highlights of Axis Bank’s personal loan of 7 lakh:

Feature Details
Loan Amount Up to Rs. 40 lakhs
7 Lakh Loan Interest Rate Starting from 10.49% p.a.
Tenure 12 to 84 months
Processing Fee Up to 2% of the loan amount
Prepayment Charges Nil for loans up to 36 months; 2% for loans above 36 months

 

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

By taking a look at the example below you can understand the distribution of 7 lakh personal loan EMI by Axis Bank:

Tenure EMI Interest Rate Interest Amount
1 Year Rs. 61,701 10.49% 40,409
2 Years Rs. 32,460 10.49% 79,040
3 Years Rs. 22,748 10.49% 1,18,943
4 Years Rs. 17,919 10.49% 1,60,111
5 Years Rs. 15,042 10.49% 2,02,536
6 Years Rs. 13,142 10.49% 2,46,204
7 Years Rs. 11,799 10.49% 2,91,101

Compare 7 Lakh Personal Loan from other Banks & NBFC.

The applicants need to evaluate and compare the interest rates of different banks and NBFCs before applying for a 7 lakh personal loan instantly. The table below shows a comparison of Axis Bank’s personal loan of 7 lakh and other providers’ loan interest rates for better evaluation:

Bank/NBFC Interest Rate
HDFC Bank 10.50%
ICICI Bank 10.50%
Bajaj Finserv 11.00%
Tata Capital 11.25%
Kotak Mahindra Bank 10.99% 
L&T Finance 12.00% 
Kreditbee 12.25% 
MoneyTap 12.96% 

Axis Bank Personal Loan 7 Lakh – Fees & Charges

You can check the additional fees charged by Axis Bank personal loan of 7 lakh from the following table:

Fee Amount
Processing Fee Up to 2% of the loan amount
Swap charges INR 500 per instance + GST
Documentation Fee Rs. 500
Foreclosure Charges Nil for loans up to 36 months; 2% for loans above 36 months
Prepayment Charges  5% + GST
Instrument return Fee INR 339 per instance + GST
Penal interest 24% per annum
Duplicate Issuance Charges INR 250 per instance + GST

7 Lakh Axis Bank Personal Loan – Documents Required

The points below show the significant 7 lakh personal loan documents required by Axis Bank to qualify for the process:

  • Identity Proof – You need to submit proof of identity through passport, Voter ID, or Aadhaar Card 
  • Address Proof– Submit the details of address verification through Rent Agreement or Utility Bills (For the past 3 months only)
  • Income Proof– Salary slips of the last 2 months, Form 16 for salaried individuals; and Business income proof for self-employed individuals of the past 1 year.
  • Bank Statements– The latest six months’ financial statements
  • Others– Loan application form and signed agreement/ECS forms

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

7 Lakh Axis Bank Personal Loan – Eligibility Criteria

Know about the 7 lakh personal loan eligibility criteria by Axis Bank by checking the points below:

  • Age – The applicant must be between 21 and 60 years old to qualify for the instant 7 lakh loan from Axis Bank. 
  • Income – The minimum monthly income of the applicant to apply for a 7 Lakh Axis Bank Personal loan should be Rs. 15000.  
  • Nationality – He/She must be an Indian resident. 
  • Employment Status – He/She must have a 3 years working experience.

Personal Loan By Banks

Frequently Asked Question (FAQs)

What is the Axis Bank monthly interest on a 7 lakh personal loan?

The monthly interest rate for an Axis Bank 7 Lakh personal loan starts from 10.49%.

Can I get a 7 lakh personal loan from Axis Bank?

Yes, you can get a 7 lakh personal loan from Axis Bank if you meet the basic eligibility criteria set by the Bank.

How do you get a 7 lakh loan without a salary slip in Axis Bank?

If you are self-employed, you can apply for a 7 lakh personal loan by Axis Bank without a salary slip by providing alternative income proof, depending upon a bank’s policy.

What is the CIBIL score for a 7 lakh personal loan for Axis Bank?

A CIBIL score of 750 or above for a personal loan of 7 lakh by Axis Bank is considered good.

Urban Money