A personal loan caters to plenty of financial needs. The Axis bank offers personal loans with a fast loan processing feature. You can avail an Axis Bank personal loan from Rs. 50,000 and up to 15,00,000 with less documentation and a fast approval process. The interest rate of a personal loan starts from 10.24% to 24% per annum. The repayment tenure of Axis bank's loan is 12 to 16 months.
How to apply for an Axis Bank personal loan?
- Contemplate your needs to know the exact loan amount.
- Take into consideration any existing loan or credit card dues that you are paying right now to ascertain the affordable EMI amount.
- Make use of a personal loan eligibility calculator to know how much monthly EMI you can afford.
- Check Axis bank’s eligibility criteria to know whether your income level and employment status will get qualified.
- Know about the personal loan interest rate offered by the bank. Utilize the Personal Loan EMI calculator to know how much money will outgo monthly.
- Submit documents for the Know-Your-Customer process, address proof, and income proof along with the application form and the cheque for the processing charge.
- The bank will examine the submitted documents and sanction of the loan will be done based on your loan eligibility. Followed by this you need to sign the agreement and the Standing instructions(SI) Request/ECS forms. After completing all these steps the bank will disburse the loan to your account.
- Now the loan amount is credited to your account ( the process takes up to 30 days )
What is the eligibility of Axis bank's personal loan?
- The minimum age to avail of a personal loan from axis bank is 21 years
- The maximum age limit to avail of axis bank personal loan is 60 years(at the age of loan maturity).
- The personal loan tenure is 12-16 months.
- The minimum loan amount of personal loan you can get from Axis bank is Rs. 50,000 and the maximum amount is Rs . 15,00,000.
- The type of occupation is salaried and self-employed individuals
Here is a list of documents required to get an Axis bank personal loan
- The photograph of the applicant
- Age proof and Identity proof
- Income evidence
- Bank statement and address proof
- Proof of signature verification