Axis Bank Personal Loan: Interest Rates, Eligibility, How to Apply

Axis Bank Personal Loan: Axis Bank offers personal loan with instant approval with less documentation. Axis Bank offers personal loans between Rs.50,000 to Rs.15,00,000 with less paperwork and quick approval. A personal loan from Axis Bank can help you meet your short term needs, such as your home renovation, wedding arrangements or vacation. The payment mode is tailored to suit your credit profile. The repayment period can be between 12 to 60 months. You can choose the tenure as per your convenience. You can also use the Personal Loan EMI Calculator to know the EMI and other details.

Key Features of Axis Bank Personal Loan

  • Loan is available for salaried individuals.
  • Salaried people can take loans from Rs 1,00,000 to 40,00,000.
  • The repayment period is minimum 12 months to maximum 60 months.
  • Personal loan is available at the lowest interest rate.
  • Gives simple process, minimal documentation and quick approval.

Benefits of Axis Bank Personal Loan

  • low interest rates
  • no guarantor needed
  • less paperwork
  • long tenure
  • Minimum income requirement

Documents Required for Axis Bank Personal Loan

Following are the important documents to be submitted while applying for a personal loan from Axis Bank:

  • The application form should be filled properly.
  • 3 passport size photographs
  • Bank account/passbook details for the last six months
  • Proof of residence (photo copy of recent telephone bill / electricity bill)
  • Proof of Identity (Photocopy of Voter ID / Passport / Driving License / IT PAN Card)
  • IT returns for three years for self-employed professionals

Important things to know about Axis Bank Personal Loan:-

eligibility criteria Salaried / Self Employed
Age Between 21-60 years
loan repayment period up to 60 months
loan amount up to 15 lakhs
Rate of interest 15.50% to 24%

Axis Bank personal loan offers a lot of features and benefits which are as follows:-

Purpose: Axis Bank Personal Loans are designed to meet your financial needs.

Loan Amount: You can get a loan amount between Rs.50,000 to Rs.15,00,000.

Repayment Tenure: Axis Bank offers flexible repayment tenors between 12 to 60 months.

Interest Rate: Axis Bank offers a competitive interest rate based on your eligibility status. The interest rate on personal loan starts from 15.50%.

Special EMI Calculator : With a specially designed EMI calculator, you can plan your loan requirement and avail it comfortably.

Easy Loan Transfer: If the interest rate on your personal loan is high, you can switch to Axis Bank to avail the best rate of interest.

Hassle Free Process: The best advantage of taking a personal loan from Axis Bank is that the process is much quicker with less paperwork.

Reward Point Benefits: Axis Bank offers eDGE Loyalty Reward Points on your transactions which you can redeem for more than 500 rewards.

  • You can earn 150 points if your disbursement is less than or equal to Rs.3,00,000.
  • For distributions above Rs 3,00,000 and less than Rs 5,00,000, you can earn 300 points.
  • For above 5,00,000, you can earn 450 points.
  • The procedure to redeem the points is given in detail in the official website of Axis Bank.

Eligibility Criteria to get Axis Bank Personal Loan

Axis Bank Personal Loan is sanctioned to individuals who have the eligibility criteria set by the bank. Following are the criteria to avail Axis Bank Personal Loan:-

  • Axis Bank Personal Loan is issued only to salaried and self-employed employees.
  • Applicant’s age should be between 21 to 60 years. Personal loan from Axis Bank is not offered to anyone below 21 years of age and above 60 years of age.
  • You can be a salaried employee of any profession but to avail the Axis Bank personal loan, your minimum monthly income should be Rs 15,000. Any person below this income will not be eligible to take loan from Axis Bank.

Interest Rate on Axis Bank Personal Loan

As compared to other lenders, Axis Bank offers the best interest rate on personal loan. The table below shows the interest rates on personal loans.

Rate of interest 15.50% to 24%
loan processing fee 1.50% to 2.00% + GST
check bounce charges Rs 500 per check bounce + GST
Prepayment/Foreclosure Charges Zero
default interest rate 24.00% p.a. i.e. 2% p.a. on overdue installment
Duplicate statement issuance fee Rs.250 per instance + GST
Duplicate Amortization Schedule Fee Rs.250 per instance + GST
Fee for issue of duplicate interest certificate (provisional/actual) Rs.250 per instance + GST
credit bureau report issuance fee Rs.50 per instance per set + GST
stamp duty charges As per State Stamp Act

Leave a Comment

Your email address will not be published.