Axis Bank personal loans are offered for a repayment tenure over a period of up to 60 months.

The minimum period of employment is 12 months. The majority of personal loans in India are granted for a period of 60 months. There are relatively few banks that will extend a loan for up to 84 months if the loan amount is substantial.

Axis Bank Personal Loan  Repayment Tenure 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.