Axis Bank Salaried Employee Personal Loan

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Written By
Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
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.

In today’s fast-paced world, financial needs can arise unexpectedly, often requiring swift and reliable solutions. For salaried individuals, finding a financial lifeline that is both accessible and trustworthy can be a daunting task. This is where Axis Bank steps in, offering a beacon of hope with its tailor-made personal loan options for salaried employees. Designed to cater to the diverse needs of working professionals, Axis Bank’s personal loan scheme is not just a financial product but a stepping stone towards achieving personal goals and addressing unforeseen expenses. Today, we will talk about Axis Bank salaried employee personal loan and what you should know about them.

Axis Bank Salaried Employee Instant Loan – Highlights

Here are the highlights of the Axis Bank Personal Loan for salaried employees.

Loan Amount  Up to ₹40 lakh
Axis Bank Salaried Employee Personal Loan Interest (p.a.) 10.49% onwards
Loan Tenure 1-7 years

Comparing Axis Bank Salaried Employee Personal Loan with other Banks

Here is a quick comparison between Axis Bank personal loans and those of its competitors. 

Banks/NBFCs Interest Rates (p.a.)
Axis Bank 10.49% onwards
IndusInd Bank 10.49% onwards
IDFC First Bank 10.49% onwards
HDFC Bank 10.50% onwards
ICICI Bank 10.50% onwards
Kotak Mahindra Bank 10.99% onwards
Tata Capital 10.99% onwards
Bajaj Finserv 11.00% onwards
Federal Bank 11.49% onwards
DMI Finance 12.00% – 40.00%
L&T Finance 12.00% onwards
Kreditbee 12.25% – 30.00%
MoneyTap 12.96% onwards
Piramal Finance 12.99% onwards
Aditya Birla 13.00% onwards
Moneyview 15.96% onwards
Cashe 27.00% onwards

Axis Bank Salaried Employee Personal Loan – Fees and Charges

Individuals opting for personal loans from Axis Bank should know the additional costs involved. These include:

  • A processing charge may be as high as 2% of the total loan value, with an added Goods and Services Tax (GST).
  • The GST applicable to banking services is currently set at 18%.
  • Additional expenses, such as those for verifying documents and stamp duty, may arise.

Axis Bank Salaried Employee Personal Loan – Documents Required

When applying for a personal loan at Axis Bank, salaried employees will be required to provide a set of specific documents. These usually include:

  • A completed loan application form.
  • Documents for KYC (Know Your Customer) verification. It could be any of the following: an Aadhar Card, a Voter’s ID, a valid passport, utility bills, and other similar documents.
  • Proof of income, such as the most recent two months’ salary slips, two months’ bank statements, or evidence of employment for the past year.

Axis Bank Salaried Employee Personal Loan Eligibility Criteria

The following are the basic eligibility criteria for Axis Bank personal loans for salaried employees. 

  • Eligible Borrowers: Employees of private/public companies, salaried doctors, government employees 
  • Age Limit: 21-60 years
  • Minimum monthly income: ₹15,000 
  • A healthy credit score

Personal Loan By Banks

Frequently Asked Question (FAQs)

Can a salaried employee get a personal loan from Axis Bank?

Yes, depending on factors such as eligibility and documentation, salaried employees can apply personal loan from Axis Bank. 

How much personal loan can a salaried employee get from Axis Bank?

40 lakh is the maximum personal loan limit for salaried employees.

What is the Cibil score required for availing of a personal loan from Axis Bank?

An individual must have at least a 750 CIBIL score to apply for a personal loan.

How can a salaried employee get a personal loan from Axis Bank instantly?

If one meets all the eligibility criteria, then one can easily get a personal loan from Axis Bank.

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