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AXIS BANK HOLIDAY LOAN

Axis Bank Holiday Loan Details 

AXIS Bank was one of the few private banks to have begun operations in 1994, after the government of India allowed new private banks to be established . They have established 2400 branches and more than 12922 ATMs.

Holidays are the time when people forget all the troubles and worries of their life. Each and every one of us wants to spend our holidays in exotic places but most of us can’t afford the expense. To overcome this problem many lenders provide AXIS Bank holiday loans or you can say that travel loan. In travel, they are easy to get and have a good rate of interest or it’s a kind of unsecured loan. Now having these type loans you can travel all over the world with your family and friends. Now just choose your destination without any worries and plan your journey through a holiday loan. 

AXIS Bank offers holiday loans to plan a dream vacation that you have always wanted to with your friends or family. This loan is offered at an attractive interest rate with minimal documentation and quick approval and also provides a 2 months moratorium facility.

Benefits of AXIS Bank Holiday Loan 

1. Provide 2 months moratorium facility

2. Once the loan is approved the funds get transferred within 4 to 5 working days.

3. No hidden charges

4. Get a loan amount between Rs.50000 to Rs.15 lakh 

5. Flexible repayment period upto 5 years.

6. No foreclosure charges

7. Enjoy the best interest rate starting at 15.50% per annum.

8. Application requires simple and less documentation 

9. Save 3.5% currency charges on each swipe 

Fee and Charges of AXIS Bank Holiday Loan 

To apply for a holiday loan from AXIS Bank you have to pay fees and charges applied by the Bank. It covers all charges and fees made by a bank to their customers. The following charges are taken from AXIS Bank Holiday Loan i.e. processing fee, prepayment charges etc.

TYPE 

CHARGES 

Processing fee 

1.50% to 2% plus GST as applicable 

Foreclosure charges 

NIL

Penal interest 

24% per annum or 2% per month on overdue installments

Duplicate statement issuance charges 

Rs.250 per instance per set plus GST as applicable 

Duplicate amortization schedule issuance charges 

Rs.250 per instance per set plus GST as applicable 

Re-issuance of photocopy of loan agreement charges

Rs.250 per instance per set plus GST as applicable 

Credit information companies CICs report issuance charges

Rs.50 per instance per set plus GST as applicable 

Duplicate NOC Charges

Rs.500 per instance per set plus GST as applicable 

Stamp duty Charges 

As per state stamp act

Swap charges 

Rs.500 per instance per set plus GST as applicable 

Eligibility Criteria for AXIS Bank Holiday Loan

Before applying for a holiday loan from AXIS Bank you should fulfil all basic eligibility criteria as prescribed by the bank. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

  • Salaried employees including doctors, employees of public and private ltd companies, and government sector employees

  • Minimum age of candidate is at least 21 years to 60 years

  • Your credit score must be acceptable to the lender. Most lenders prefer individuals with a credit score of at least 700.

  • Most banks have a particular income process for applicants to pass these loans. Having 15,000 salaries per month is better.

  • Must be an Indian Resident.

  • Employed/In-business for at least 2 years and at least 1 year with current employer/business

Documents Required for AXIS Bank Holiday Loan

Any applicant who is going to avail a holiday loan from AXIS Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

  • Identity proof

  • Address proof

  • Last 3 months salary slip as income proof

  • Latest 3 months bank statement

  • Photographs

  • Signature proof

  • Application form

  • Loan agreement duly signed

  • Post Sanction/ pre-disbursement documentation

How to Apply for AXIS Bank Holiday Loan

There are two ways to apply for a AXIS Bank holiday loan :

1. Offline Method : By visiting the nearest bank branch 

2. Online Method : 

  • Firstly visit the lenders website from which you want to get the loan. 

  • Fill the application form and read all the term and conditions

  • Attach all required documents with the application form

  • After submitting form lenders will let you know that you eligible or not for the loan 

AXIS Bank Holiday Loan Customer Care

Contact number : 18604195555 / 18605005555

Email id : loans@axisbank.com

How to calculate EMI of AXIS Bank Holiday Loan 

The following way to calculate EMIs of AXIS Bank holiday loan i.e.

The mathematical formula to calculate EMI is: 

EMI = P × r × (1 + r)n/((1 + r)n - 1) 

Where, 

P= Loan amount 

r= interest rate 

n=tenure in number of months

Financials products offered by Bank 

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

AXIS BANK Holiday Loan Frequently Asked Questions 

1. What is a Holiday loan?

Holiday Loan is simply a type of unsecured personal loan that is intended for travel purposes. It can help cover the costs related to your holidays, such as tour, airfares, accommodation, and even new travel attachment. 

2. How to apply for an AXIS Bank Holiday loan?

You can apply online or offline by visiting the nearest bank branch.

3. Which formula is used to calculate the EMIs of AXIS Bank Holiday Loan?

The mathematical formula to calculate EMI is EMI = P × r × (1 + r)n/((1 + r)n - 1) Where, P= Loan amount, r= interest rate, n=tenure in number of months.

4.What is the minimum and maximum age the customer is required to take a Holiday Loan from AXIS Bank?

The minimum age is 21 years and the maximum age is 60 years is required to take a Holiday Loan from AXIS Bank.

5. How much processing fee is charged by AXIS Bank Holiday Loan?

The processing fee is charged by AXIS Bank Holiday Loan is 1.50% to 2% plus GST as applicable.

6.Who is eligible to take a holiday loan from AXIS Bank?

Salaried employees including doctors, employees of public and private ltd companies, and government sector employees are eligible to take a holiday loan from AXIS Bank.

 

Last Updated on : 25/Aug/2020

Know More About

Axis Bank Holiday Loan

You're eligible for a Axis Bank Holiday Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Holiday Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Axis Bank Holiday Loan Interest Rates

Updated on 25 Nov 2017

Axis Bank Holiday Loan Details
Interest Rate (Monthly reducing balance) 15.5% - 0%
Processing Fees 1.50% to 2.00% + GST as applicable
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Holiday Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959