AXIS Bank Personal Loan Eligibility, Interest Rate, Status

Apply Now

AXIS BANK PERSONAL LOAN

ABOUT AXIS BANK PERSONAL LOAN :

Axis bank is one of the most trusted banks for personal loans. Axis Bank personal loan comes with zero foreclosure and part payment charges. Common uses of a personal loan from Axis Bank include :

  • Planning  for vacation expenses

  • Renovating your house

  • Arranging a dream wedding and

  • Paying for medical emergencies

 

BENEFITS OF AXIS BANK PERSONAL LOAN :

  • Flexible loan tenure of 1 to 5 years

  • It offered the best interest rate for the existing customers of Axis Bank

  • Axis Bank offers personal loans amount from Rs. 50,000 to Rs. 15 lakh

  • Minimal documentation is required

  • Loan approval is speedy and problem free

 

FEE & CHARGES OF AXIS BANK PERSONAL LOAN :

TYPE OF FEE 

CHARGES

Processing fees 

1.50% to 2% on loan amount plus GST

Cheque bounce

Rs.500

Penal interest

2% p.m. on the overdue installment

Duplicate statement

Rs.250 + GST 

Charges

No charges apply

Duplicate NOC

Rs. 500 + GST

 

ELIGIBILITY CRITERIA OF AXIS BANK PERSONAL LOAN :

Now by going through the process of personal loan must check whether you are eligible for the loan or not. Eligibility factor is very crucial, non eligible customers can’t get the loan.Here some information regarding eligibility criteria:   

ELIGIBLE

Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies. 

AGE

21 years to 60 years at the time of loan maturity

INCOME

Min. 15,000 INR

 

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE :

BANKS

INTEREST RATES

AXIS Bank Personal Loan

12% to 24%

SBI Personal Loan

11.30% to 16.40%

SBI Xpress Bandhan

12.15% to 15.15%

SBI Xpress Credit Personal Loan

11.50% to 12%

HDFC Bank Personal loan

10.75% to 21.50%

Kotak Mahindra Bank Personal Loan

10.50% to 16.99%

Yes Bank Personal Loan

20.00% to 22.00%

Citi Bank Personal Loan

10.50% to 17.99%

ICICI Bank Personal Loan

10.99% to 16.25%

Standard Chartered Bank Personal Loan

11.00% to 19.20%

IDBI Bank Personal Loan

12.00% to 14.00%

RBL Bank Personal Loan

14.00% to 23.00%

HSBC Bank Personal Loan

10.75% to 17.84%

IndusInd Bank Personal Loan

11.00% to 16.75%

Bank of Baroda Personal Loan

11.70% to 16.70%

Bank of India Personal Loan

12.45% to 14.15%

Canara Bank Personal Loan

12.05% onwards

 

DOCUMENTS REQUIRED FOR AXIS BANK PERSONAL LOAN :

TYPE

DOCUMENTS

ID proof

Adhar card, pan card, driving license, passport, etc.

Address proof

Aadhar card, voter id, rental agreement, registry, and utility bills

Income proof

Last 3-month salary slip, last 6 months bank statement, latest ITR

For repayments modes

Duly signed loan agreement, ECS form/Standing Instruction Request

 

AXIS BANK OTHER LOAN PRODUCTS :

1. AXIS Bank Personal Loan 

2. AXIS Bank Business Loan 

3. AXIS Bank Car Loan 

4. AXIS Bank Holiday Loan

5. AXIS Bank Commercial Vehicle Loan

 

AXIS BANK PERSONAL LOAN EMI CALCULATOR :

Calculate your EMI of your personal loan on different tenure and principal amount. Here is some sample EMI of different tenure and at different interest rates.

Loan Specifics

EMI for 1-year

EMI for 2-year loan

EMI for 3-year

EMI for 4-year

EMI for 5-year

5 lakh @ 12%

44,424

23,537

16,607

13,167

11,122

5 lakh @ 14%

44,894

24,006

17,089

13,663

11,634

5 lakh @ 16%

45,365

24,482

17,579

14,170

12,159

5 lakh @ 18%

45,840

24,962

18,706

14,687

12,697

 

Use this formula to calculate your EMI

E = R x P x    (1+R)n

                    ((1+R)n-1)

Here,

  • P stands for the principal amount that you want to apply for.

  • r represent the rate of interest per month 

  • n is the time period of loan in months

  • E represents EMI

 

HOW TO APPLY FOR AXIS BANK PERSONAL LOAN :

There are 2 ways by which you can apply for the personal loan :

1. OFFLINE METHOD : In offline method you have to visit the axis bank branch 

2. ONLINE METHOD :

  • Browse to axis bank official portal

  • Now go to “Explore products”  and look for “Loan” menu in Retail section

  • In loan section click on “ personal Loan”

  • Fill the application form 

  • Attached all required documents with application form

  • After submitting your application form you will get notification through bank about loan status

 

HOW TO PROCESS AXIS BANK PERSONAL LOAN E-STATEMENT :

1. Website: Click here to register for e-statement for your personal loan account.

2. Internet Banking: Login to Axis internet banking using your credentials. Click on “My Profile” > “Contact Details Update”. Update your email ID and it will automatically register you for e-statement.

3. SMS: Send GREEN to 5676782.

4. Phone Banking Centre: Call Axis Bank customer service number 1860-419-5555 or 1860-500-5555 to register yourself for e-statements. (standard call rates may apply)

5. Bank Branch: Visit the nearest Axis Bank branch to submit an e-statement registration request.

 

IMPORTANT POINTS YOU SHOULD TO KNOW ABOUT AXIS BANK PERSONAL LOAN :

Following are some of the important points that should be considered before applying for Axis personal loan:

  • Right eligibility criteria.

  • Properly check the list of documents required 

  • Avoid multiple loan applications at the same time hence lower the chances of loan approval.

  • Keep a low credit utilization ratio, preferably lower than 30%.

 

FREQUENTLY ASKED QUESTIONS :

1. What is the maximum tenure of personal loan in AXIS Bank?

The maximum tenure of personal loan in AXIS Bank is 5 years.

2. How can I get an AXIS Bank personal loan ?

You can get a personal loan from AXIS bank by online or offline method.

3. What is the loan amount of AXIS Bank personal loan ?

The minimum loan amount is Rs. 50000 and maximum is Rs 15 lakh of AXIS Bank personal loan.

4. Is age eligibility important to get a personal loan from AXIS Bank?

Yes, age eligibility is important to get a personal loan from AXIS Bank. The age should be 21 years at the time of loan approval and 60 years at the time of maturity.

5. What were the processing fees charged by AXIS Bank personal loan?

AXIS Bank charges processing fees is 1.50% to 2% of the loan amount plus GST.

Last Updated on : 10/Jul/2020

Know More How To Apply ??

Know More About

Axis Bank Personal Loan

You're eligible for a Axis Bank Personal 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 Personal 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 Personal Loan Interest Rates

Updated on 25 Nov 2017

Axis Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 12% - 24%
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

Personal 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