The minimum and maximum tenure on Axis Bank personal loan is minimum of 12 months and a maximum of 60 months.
Most personal loans in India are given for a tenure of 60 months. There are very few banks that may offer up to 84 months, if the loan amount is pretty high.
Axis Bank Personal Loan Snapshot
|
Loan Amount |
Rs.50,000 – Rs.15 lakhs |
|
Average Annual Interest Rate |
12% - 21% |
|
Processing Charges |
1%– 3% of loan amount |
|
Loan Processing Time |
3 – 7 business days |
|
Repayment Tenure |
12 months – 60 months |
|
Collateral or Security |
NIL |
|
Credit Score Requirement |
Minimum 750 credit score |
What Are The Repayment Options Available To Repay Axis Bank Personal Loan?
You can repay your Axis Bank personal loan in one of three ways.
Standing Directions (SI): Standing Instruction is the ideal way of repayment if you already have an account with Axis Bank. Your EMI will be deducted automatically from the Axis Bank account you designate at the end of the monthly cycle.
Electronic Clearing Service (ECS): Use this mode if you have a non-Axis Bank account and would like your EMIs to be debited automatically from this account at the end of the monthly cycle.
PDCs (Post-Dated Cheques): Post-dated EMI cheques from non-Axis Bank accounts can be submitted to your local Axis Bank Loan Centre. A new set of PDCs must be submitted in a timely way. Please keep in mind that Post Dated Cheques will only be accepted at non-ECS locations.
It is advised that you employ either the SI or ECS mode of payment because they are speedier and less prone to error than PDCs.