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Axis Bank Personal Loan
Max Tenure
12 - 60 Months.
Best Rate
12.96% P.A.
Processing Fee
1%
Currently not available! for similar products
Quick Links To Handle Your Personal Loan
Axis Bank Personal Loan is one of the easiest and most convenient ways of turning your dreams into reality. These personal loans are designed to provide you at the right time and whenever you need them. Whether it is for a vacation, handling wedding expenses, or medical contingencies, Axis Bank Personal loans has been designed to address your needs with quick approval, minimal documentation, and along with competitive interest rates. And moreover, these personal loans come with a flexible repayment schedule that helps you to maintain your monthly financial planning.
Highlights of Axis Bank Personal Loan
The following are some of the highlights of the Axis Bank Personal Loan. They are:
| Particulars | Details |
|---|---|
| Interest Rate | 9.99% p.a to 22% p.a |
| Loan Amount | Rs. 40 Lakhs |
| Tenure | 12 Months to 84 Months |
| Processing Fees | Up to 2% of the Loan Amount + GST |
| Minimum Income Required | Rs15,000 p.m for Axis Bank Customers and Rs. 25,000 p.m for Axis Bank Non-Customers |
Axis Bank Processing Charges & Fees
The following table is the list of general processing charges and fees for the Axis Bank Personal Loan.
| Features | Charges |
|---|---|
| Processing Fees | Up to 2% of the Loan Amount + GST |
| Preclosure Charges | 3% on the Outstanding Amount if the EMIs paid are less than 36 months and 2% of the Outstanding Amount if the EMIs paid are more than 36 months. Part Payment Charges are charged on the amount of part payment Upto 25% of the Amount Outstanding will be accepted as Part Payment without any charges after the completion of 12 EMIs There needs to be a 12 EMI gap between 2 part payments |
| Repayment Instruction Charges | Rs. 339 per instance for dishonor of cheque |
| Penal Charges | 8% of the above applicable rate interest rate on the overdue amount |
| Stamp Duty Charges | As per the stamp act of the respective states |
| Credit Information Companies Report Issuance Charges | Rs. 50 Per Instance Per Set |
| Loan Cancellation Charges | 0-3 Days: Interest till the date of cancellation, processing fees, stamp duties, and other statutory charges will not be waived. >3 days: It will be considered for preclosure |
| Duplicate Statement Issuance Charges | Rs. 250 Per Instance Per Set + Applicable GST |
| Duplicate Amortization Schedule Charges | Rs. 250 Per Instance Per Set + Applicable GST |
Types of Personal Loans Given by Axis Bank
Axis Bank offers a set of personal loan options to meet the needs and requirements of various customers. These personal loan options provide quick and convenient solutions for individuals who are looking towards managing their finances, consolidate debts, or fund any personal contingencies.
The following table lists the entire types of Axis Bank Personal Loan along with their features.
| Types | Features |
|---|---|
| Wedding | Loan Amount: 50,000 to 40 Lakhs Interest Rate: 9.99% Repayment Tenure: 84 Months Need to be Salaried Individuals between 21 – 60 Years Old with a minimum salary of Rs. 15,000 Loan Disbursal within a day |
| Home Renovation | Loan Amount: 50,000 to 40 Lakhs Interest Rate: 9.99% to 22% Repayment Tenure: 84 Months Need to be a Salaried Individual between 21 – 60 Years Old with a minimum Salary of Rs. 15,000 Balance Transfer Facility |
| Travel | Loan Amount: 50,000 to 40 Lakhs Interest Rate: 9.99 % p.a with a processing fee of around 2-4% Repayment Tenure: 84 Months Credit Score of 720 – 750 is preferred Salaried employee with a public, private, or government institution |
| Higher Education | Loan Amount: 50,000 to 40 Lakhs Interest Rate: Starting at 9.99% p.a Repayment Tenure: 84 Months Minimal Documentation & get the loan approved in a matter of minutes |
| Salaried Employees | Loan Amount: 50,000 to 40 Lakhs Interest Rate: 9.99% to 22% p.a Repayment Tenure: 84 Months Minimal Documentation with Swift Approval No Hidden Charges Doorstep Documentation Collection Competitive Interest Rates |
| Women | Loan Amount: Up to 40 Lakhs Interest Rate: 9.99% to 22% Loan Tenure: 84 Months Balance Transfer Facility is Available A credit score of 700+ is required Salaried employees in a public and private institution are preferred |
| Emergency Loan | Loan Amount: Rs.50,000 to 25 Lakhs Interest Rate: Starting @9.99% Loan Tenure: 84 Months Balance Transfer Facility Must be Indian Citizen in the age group of 21 – 60 years old |
| Unsecured Loan | Loan Amount: Up to 25 Lakhs for New Customers, Upto 40 Lakhs for New Customers No Collateral Required Loan Tenure: Upto 84 Months Flexible Repayment Schedule |
| Pre-approved Personal Loan | Loan Amount: Up to 20,00,000 Interest Rate: Starting 9.99% to 22% Loan Tenure: 84 Months Balance Transfer Facility |
Note: The Personal Loan Interest Rate is applicable depending on the types of cities where the customer is applying for.
Note: You can transfer pending's of high-interest loans to Axis and enjoy lower rate of interest and other benefits
Features and Benefits for Axis Bank Personal Loan
- Easy Loan Accessibility from Rs.50,000 to Rs.40,00,000
- No Collateral Required
- Simplified documentation requirement and Hassle-free Process
- Low Interest Rates
- Transparent Terms
- Adaptable Repayment Tenures from 12 months to 84 months
- High Value Unsecured Loan
- Quick Loan Approval and Disbursal
- Axis Bank provides the flexibility of providing 24 X 7 instant Personal Loan without the need to submit any hard copy of the documents.
- You are eligible for a pre-qualified Personal loan with minimal to zero documentation.
Axis Bank Personal Loan Interest Rate
Axis Bank Offers Personal Loan to the general public at a competitive interest rate that begins at a competitive margin of 9.15% over the 1 Year-MCLR resulting in an effective ROI ranging between 9.99% to 22%. This makes sure you are being offered some of the lowest personal loan rates in the country so far.
Eligibility Criteria for Axis Bank Personal Loan
The following is the general list of eligibility criteria for the Axis Bank Personal Loan account. They are:
- Salaried Employees
- Salaried Doctors
- Employees of Public and Private Limited Companies
- Government Sector Employees including Public Sector Undertakings Public and Private Bodies
- Age Between 21 Years and 60 Years old
- Minimum Net Income of Rs. 15,000 for Axis Bank Customers and the Minimum Net Income for Non-Axis Bank Customers Rs. 25,000
Documents Required for Axis Bank Personal Loan
The following is the list of documents required for Axis Bank Personal Loan. They are:
- Last 3 Months Bank Statement
- 3 Latest Salary Slips along with Form 16
- Any one form the list of KYC Documents
- Passport
- Driving License
- PAN Card
- Aadhar Card with Date of Birth
- Voters ID Card
Axis Bank Personal Loan EMI Calculator
The Axis Bank Personal Loan EMI Calculator is a tool that helps you to arrive at the exact amount you need to pay as the Loan EMI every month. This tool takes in the loan amount, tenure, and the rate of interest to calculate the EMI details for the amount of personal loan taken from Axis bank. Some of the benefits of the Axis Bank Personal Loan EMI Calculator includes:
- Available Online
- Saves Time
- Provides Quick Results
- Available Free of Cost
- Helps you to ascertain your EMI
- Helps you with Planning your monthly budget
Axis Bank Personal Loan EMI Payment Methods
- Standing Instruction (SI): If you are an existing customer of Axis Bank, you can give a standing instruction to the bank requesting them to deduct your monthly EMI directly from the account. This is one of the best modes of payment.
- Electronic Clearing Services (ECS): This mode of payment can be used if you are a non-Axis Bank customer and would like your EMI to be deducted from the bank account at the end of the monthly cycle.
- Post Dated Cheques (PDC): You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected at non-ECS locations only.
It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
Axis Bank Personal Loan Customer Care
Axis Bank has got a Personal Loan Customer Care Servicein place. The Axis bank personal loan customer care numbers are, 1860 419 5555 and 1860 500 5555. If customers have any queries regarding personal loans, they can call either of these numbers between 8 a.m. to 8 p.m. from Monday to Saturday (except national holidays). The bank’s customer support team is highly responsive and committed to help you with any issues regarding personal loans or other financial products.
City Based Axis Bank Personal Loan
| Tiers | Cities |
|---|---|
| Tier 1 | Bangalore, Chennai, Hyderabad, Mumbai, Gurgaon, Hyderabad, Noida, Ghaziabad, Faridabad |
| Tier 2 | Pune, Ahmedabad, Kolkata |
| Tier 3 | Coimbatore, Kochi, Jaipur, Lucknow, Patna, Jamshedpur, Vadodara, Trivandrum, Visakhapatnam, Bhubaneshwar, Trichy, Surat, Nashik, Aurangabad, Goa, Guwahati, Nagpur, Chandigarh |
| Tier 4 | Bhopal, Calicut, Jodhpur, Mysore, Pondicherry, Raipur, Rajkot, Durgapur, Dehradun, Hubli, Jalandhar, Kolhapur, Ludhiana, Madurai, Mangalore, Patiala, Siliguri, Ranchi, Tirunelveli, Udaipur, Vijayawada, Indore, Ajmer, Allahabad, Bhatinda, Belgaum, Bhavnagar, Bhilwara, Jamnagar, Kanpur, Kota, Salem, Ujjain, Warangal, Mehsana |
Frequently Asked Questions
1. What is an Axis Bank Personal Loan?
Axis Bank Personal Loan is given to individuals to address sudden financial contingencies that are encountered by them. Some of them include wedding expenses, home renovation expenses, higher education expenses, medical emergencies, and so on.
2. What is the minimum and maximum loan amount I can get with the Axis Bank Personal Loan?
The minimum loan amount is Rs. 50,000 and the maximum loan amount is Rs. 40,00,000.
3. What is the minimum and maximum tenure for repayment that I can get the Axis Bank Personal Loan?
The minimum tenure is 1 year and the maximum tenure is 7 years.
4. What are the documents that are required to get an Axis Bank Personal Loan?
Some of the documents that are required for the Axis Bank Personal Loan includes: Last 3 months bank statements, latest 3 months salary slips, Form 16, and some of the KYC documents. These KYC documents can be in the form of Passport, Driving License, Aadhar Card, PAN Card, Voters ID Card, and so on.
5. What does the Processing Charge applicable for Axis Bank Personal Loan?
The Processing Charges come to 2% of the Personal Loan amount along with the applicable GST.
6. What do you mean by Preclosure Charges? Do we have any preclosure charges applicable for Axis Bank Personal Loans?
Preclosure Charges are levied on individuals while pre-closing the loan before the tenure gets over. Yes. Axis Bank charges a preclosure charge of 3% if the Loan EMIs paid is less than 36 months and 2% if the Loan EMIs paid is more than 36 months.
