Apply Now

AXIS BANK PERSONAL LOAN

There are so many expenses and way too little the funds to manage them. But you can always take help of a personal loan whenever the shortfall of money tends to obstruct your goals and makes your dues even fatter. One of the banks to bring you personal loan is Axis bank. If your finances are not helping you pay off your debts, or there is an emergency you need to look after, Axis bank personal loan can help you enjoy a sigh with financial help. The loan is offered at competitive rates and flexible repayment tenure. We shall scroll through this section to find more about this Axis bank loan.

Axis Bank Personal Loan Fee & Charges

Loan Amount

Ranges from Rs 50,000 to Rs 15 lakh

Repayment Tenure

Ranges from 12 months to 60 months

Interest Rates

Ranges from 10.49% per annum to 24% per annum 

Prepayment Charges

  • 5% for the tenure of 0 to 12 months
  • 4% for the tenure of 13 to 24 months
  • 3% for the tenure of 25 to 36 months
  • 2% for the tenure of more than 36 months 

Features and Benefits of Axis Bank Personal Loan

Axis bank personal loan comes packed with flexible features, be it the loan amount or repayment options. You can apply for the Axis bank loan easily and avail it at affordable interest rates. 

Here are noteworthy features and benefits of Axis bank personal loan:

  1. Loan Amount : Axis bank offers you attractive options in terms of loan amount. You can avail the personal loan ranging between Rs 50,000 and Rs 15 lakh as per your needs. 

  2. Repayment Tenure : You will find flexible options when it comes to the repayment tenure for Axis bank personal loan. The loan tenure ranges from 12 months to 60 months. 

  3. Interest Charges : Axis bank offers personal loans at competitive rates. The Axis bank personal loan interest Rates start at 10.49% per annum and go up to 24% per annum. 

  4. Prepayment : In case you have the required funds, you can pay off the entire loan amount before the tenure ends. This will only prevent you from paying interest charges. While there are no foreclosure charges on the prepaying the full loan amount, the bank charges foreclosure fees on making part prepayments. 

  5. Fast Procedure : The bank does not take a long time to proceed with the personal loan application. Besides that, you have to go through minimal documentation. 

  6. Quick Disbursement : You need not wait around to get your loan disbursement. Axis bank offers fast loan disbursements.

Axis Bank Personal Loan Eligibility

You have to make sure you are eligible to apply for an Axis bank personal loan. The bank requires you to meet certain eligibility standards in order to see whether you should be availed the loan. Thus, it is important to check if you are eligible for the loan.

Here is the eligibility criteria for Axis bank personal loan:

  • The applicant should be a salaried employee.

  • The applicant who is working in a private or public limited company can apply for the loan.

  • Those in the government sector including the Public sector undertakings and the Central or Local bodies can apply.

  • The minimum age of the applicant should be 21 years.

  • The maximum age of the applicant should not be more than 60 years at the time of maturity of this loan. 

  • The customer should be earning at least Rs 15,000 as monthly net income. 

Documents Required for Axis Bank Personal Loan

You need to submit certain documents at the time of applying for the personal loan. The bank asks you to share these documents in order to be able to proceed with the loan application. 

Here are the documents required for Axis bank personal loan application online or offline:

Identity Proof

Aadhar Card, Passport, Voter’s ID Card, Driving Licence

Address Proof

Aadhar Card, PAN Card, Passport, Voter’s ID Card, Driving Licence

Income Proof

Salary Slips, Bank Statements, Form 16

Other Documents

Duly Filled Loan Application Form, Passport-size Photographs, Duly Signed Loan Agreement, ECS Form or Standing Instructions Request

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

7.65% TO 12.65%

Bank of India Personal Loan

12.15% to 14.15%

Canara Bank Personal Loan

12.05% onwards

Other Loans Provided By AXIS BANK:

Axis Bank Business Loan Axis Bank Home Loan
Axis Bank Car Loan Axis Bank Two Wheeler Loan

How To Track Axis Bank Personal Loan Status

Here are the ways you can track your Axis bank loan application status:

1. Contact Customer Service: You can contact the Axis bank customer helpline to enquire about the status of your Axis bank personal loan application. 

2. Track Loan Application Online: Here are the steps you need to follow to check the Axis bank personal loan application online:

  • Go to the official web portal of Axis bank.

  • Now, click on the “Explore Products” menu.

  • Hit the “Loans” section and click on “Personal Loan”. 

  • Then, you need to find and click the “Related Links” menu.

  • Choose the “Check Loan Status” option from the menu. 

  • Select “Customer” and hit “Proceed”.

  • Enter your mobile phone number and hit “Submit”. 

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 Calculate Axis Bank Personal Loan EMI Calculator Via Axis Bank Website

You can use the Axis bank EMI calculator to calculate the Equated Monthly Installments that you will be paying every month for personal loan. 

Here are the steps to calculate the Axis bank Personal loan EMI:

  • Go to the official web portal of Axis bank.

  • Now, click on the “Explore Products” menu.

  • Hit the “Loans” section and click on “Personal Loan”. 

  • Now, select the “Personal Loan EMI Calculator” from the “Calculators” section. 

  • You need to enter the personal loan amount, the repayment tenure (in months) and the rate of interest.

  • Now, you should be able to view the EMI that you will pay for the loan. 

How to Apply for Axis Bank Personal Loan

It is easy to apply for an Axis bank personal loan. You can apply for Axis personal loan either offline or through the online facility. 

Here is how you can apply for the Axis bank personal loan:

1. Apply for Axis bank Personal loan offline

You can visit the nearest branch of Axis bank in order to apply for the loan. You need to make sure you have all the required documents for the personal loan application and carry them with you when visiting the branch. The bank official will provide you assistance with the personal loan application procedure. 

2. Apply for Axis bank Personal loan online

Here are the steps you need to follow to apply for the Axis bank personal loan online:

  1. First things first, go to the official Axis bank website. 

  2. Hit the “Explore Products” section.

  3. Now, click the “Personal Loan” in the “Loans” section. 

  4. Now, hit the “Apply online” button. 

  5. Select whether you are applying as an existing customer or new customer.

  6. Enter all the information as asked in the form. 

  7. Click the “Submit” button.

FAQs On Axis Bank Personal Loan

1. How can I repay my Axis bank personal loan?

You can repay your loan Axis bank personal loan using cheque. You can also opt for standing instructions or electronic clearing services to make repayment of Axis bank loans. 

2. Can I get a personal loan balance transfer by Axis bank?

Yes. Axis bank provides customers the facility of balance transfer. You can use this feature to transfer your existing loan with a higher rate of interest to the Axis bank loan at lower interest rates. For any enquiry related to the procedure, you can contact the customer service or visit the bank.

3. Are there any prepayment charges on Axis bank personal loan?

There are zero foreclosure charges for making full prepayment of Axis bank personal loan. However, you will be charged prepayment fees for making part prepayments. The prepayment fee is charged on the outstanding amount. 

Last Updated on : 18/Mar/2021

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% - 2.0%
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