® 
Axis Bank Personal Loan
Max Tenure
12 - 60 Months.
Best Rate
12.96% P.A.
Processing Fee
1%
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Quick Links To Handle Your Personal Loan
Axis Bank Personal Loans
Axis Bank offers personal loans at fixed interest rates of 10.25% per annum onwards for loan amounts up to 40 Lakhs and tenures of up to 5 years. Apply for an Axis Bank personal loan with CreditMantri and enjoy unlimited benefits.How to Apply for Axis Bank Personal Loan
Highlights of Axis Bank Personal Loans
| Interest rate | 10.25% per annum onwards |
| Loan Amount | Rs. 50,000 to Rs. 40 Lakhs |
| Tenure | 1 to 5 years |
| Minimum monthly salary | Rs. 15,000 |
| Processing fees | 1.5% to 2% |
Comparison Of Axis Bank Personal Loans Interest Rates with Other Lenders
| Lender | Interest Rates | Processing Fees |
| Lender | Interest Rates | Processing Fees |
| Axis | 10.25% onwards | 1.5% to 2% |
| HDFC | 11.00% onwards | Up to 2.50% |
| ICICI | 10.75% onwards | Up to 2.50% |
| Citibank | 9.99% p.a. To 16.49% p.a. | 0.25% to 3.00% |
| IndusInd | 11.00% | 2.5% onwards |
| Yes Bank | 10.99% per annum onwards | 2.50% (one-time fee) |
| Shriram City | 11.49% p.a. To 23% p.a. | 2.50% |
| SBI | 10.30%-15.10% | Up to 1.50% |
Benefits of Axis Bank Personal loan
- Competitive interest rates
- No collateral needed
- Less paperwork
- Flexible repayment durations
- Various channels for repayment including RTGS, NEFT, and ECS.
- Minimum Income Requirement
Eligibility Criteria For Axis Bank Loans
| Age | The individual should be in the age range of 21 years to 60 years |
| Employment Type | The person can be a salaried employee, private limited company employee or a government employee including PSU, central, and local bodies. |
| Net Salary | Rs. 15,000 monthly |
Documents Required For Axis Bank Personal Loans
| Document Category | Required Documents |
| KYC document | Either one:
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| Date of birth proof | Either one:
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| Signature proof | Either one:
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| Income Proof | Either one:
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| Other important documents and checks | Either one:
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Documents to Be Submitted Post Personal Loan Sanction
- Duly signed loan agreement
- Standing Instruction (SI) Request/ ECS Form. Security Cheques needed for SI and ECS For doctors, architects, CA, CS, ICWA, MBA consultant and engineers, the required qualification or registration proof may vary from customer to customer.
Axis Bank Personal Loans Interest Rate and Fees
| Axis Bank Personal loan interest rate | 10.49% to 21% |
| Processing Fee ` | Up to 2% of the loan amount |
| Foreclosure Charges | 5% for 0 to 12 months 4% for 12 to 24 months 3% for 24 to 36 months 2% for greater than 36 months +GST as applicable |
| Loan Tenure | 12 months to 60 months |
| Penal Interest | 24% per annum |
| Cheque/Instrument Swap charges | Rs. 500 per instance + GST |
| CIBIL Report Issuance Charges Stamp Duty Charges | Rs. 50 per instance per set + GST as per State Stamp Act |
| Issuance Charges for Photocopy of Loan Agreement/Documents | Rs. 250 per instance + GST |
| Charges for Duplicate Statement Issuance | Certificate for duplicate interest (Actual/Provisional) |
| Charges for Duplicate Amortization Schedule or Duplicate NOC Issuance | Rs. 250 per instance + GST Rs. 250 per instance + GST Rs. 250 per instance + GST Rs.500 per instance + GST |
How To Apply For An Axis Bank Personal Loan?
Online Apply Via CreditMantri
1) After checking the features, pricing, and documents required for Axis Bank personal loans, click on check eligibility.
2) You will be redirected to the application page. Enter the basic details asked for.
3) Click on view eligible offers to check the Axis Bank offers available according to your eligibility.
4) Click Next.
5) An OTP will be dispatched to your mobile. Enter this OTP for verification.
6) Submit the Application.
Offline
You can apply offline through customer care, visiting the nearest branch, Email, ATM kiosks, or netbanking.
Features
- Affordable interest rates
- Various channels for repayment including RTGS, NEFT, and ECS.
- Minimal paperwork
- Hassle-free application process
- Special offers for customers having personal loans with other banks and who want to decrease their EMIs by transferring the loan to Axis Bank.
- With a specially designed EMI calculator, you can plan out your EMIs and achieve paying them comfortably.
- Benefits from reward points
- eDGE loyalty reward points on your transactions, which you can redeem for over 500 rewards.
- 150 points if your disbursal is less than or equal to INR 3,00,000.
- Earn 300 points for disbursal of more than INR 3,00,000 and less than INR 5,00,000,
- Earn 450 points for disbursal of above INR 5,00,000
Types of Personal Loans Given By Axis Bank
- Personal Loan For Holiday:
Axis Bank provides personal loans for holidays using which you can fund your vacation. You need not worry about not having money for your vacation anymore. You can obtain these loans with minimal documentation and quick disbursal.
- Personal Loan For Wedding:
You can spend as much as you want on your child’s wedding with an Axis Bank personal loan.
- Personal Loan For Renovation:
This loan will help you find the revamping of your home.
City Based Axis Bank Personal Loan
Axis Bank currently gives personal loans only to the individuals living in the following cities.
- Tier 1: Bangalore, Delhi, Chennai, Mumbai, Hyderabad, Gurgaon, Noida, Ghaziabad, Faridabad
- Tier 2: Pune, Ahmedabad, Kolkata
- Tier 3: Coimbatore, Kochi, Jaipur, Lucknow, Patna, Jamshedpur, Vadodara, Trivandrum, Visakhapatnam, Bhubaneshwar, Trichy, Surat, Nashik, Aurangabad, Goa, Guwahati, Nagpur, Chandigarh
- Tier 4: Bhopal, Calicut, Jodhpur, Mysore, Pondicherry, Raipur, Rajkot, Durgapur, Dehradun, Hubli, Jalandhar, Kolhapur, Ludhiana, Madurai, Mangalore, Patiala, Siliguri, Ranchi, Tirunelveli, Udaipur, Vijayawada, Indore, Ajmer, Allahabad, Bhatinda, Belgaum, Bhavnagar, Bhilwara, Jamnagar, Kanpur, Kota, Salem, Ujjain, Warangal, Mehsana
Axis Bank Personal Loan Customer Care
Axis Bank has strong personal loan customer care services in place. The Axis bank personal loan customer care numbers are, 1860 419 5555 and 1860 500 5555. If customers have any queries regarding personal loans, they can call either of these numbers between 8 a.m. to 8 p.m. from Monday to Saturday (except national holidays). The bank’s customer support team is highly responsive and committed to help you with any issues regarding personal loans or other financial products.Axis Bank Personal Loan Interest Rates
Axis Bank offers personal loans at interest rates that range from 10.25% per annum to 21% per annum. Factors such as the nature of the applicant’s job, credit score, duration of the loan, loan amount, relationship with Axis bank, and the loan repayment capacity affect the Axis Bank personal loan interest rates.Axis Bank Personal Loan Eligibility
Axis bank has laid out certain eligibility criteria based on the applicant’s age, credit score, salary, employment, etc. Eligibility criteria become even more essential for personal loans as they are unsecured. Check to know more about Axis Bank’s personal loan eligibility criteria.Axis Bank Personal Loan Status Check
Axis Bank provides its customers with a hassle-free way of checking the personal loan status. A person can check the Axis Bank personal status through customer care, by going to the bank’s branch, netbanking, online by entering the application ID and date of birth, by inputting the mobile number and date of birth, and using the reference number.Axis Bank Personal Loan EMI Calculator
The Axis Bank personal loan EMI calculator is used in computing the EMIs one has to pay monthly. This will help the individual to choose the loan according to his repaying capacity.EMI Payment Methods
Your Axis Bank personal loan can be repaid in the following three ways.
Standing Instruction (SI):
If you are an existing account holder with Axis Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be automatically debited at the end of the monthly cycle from the specified Axis Bank account.Electronic Clearing Service (ECS):
This mode can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from the specified account.Post-Dated Cheques (PDCs):
You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected at non-ECS locations only.It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
Conclusion
Axis Bank has personal loans for every need of yours - be it your wedding, education, home renovation, or your holiday. Get the best interest rates on Axis Bank personal loans by applying through CreditMantri.
Axis Bank Personal Loan FAQs
1. What are my loan limits?
Your personal loan limit would be determined by your income and repayment capacity. Normally you can avail Axis Bank personal loan between INR 60,000 to INR 15,00,000.
2. Can my spouse income be included for calculating the loan amount?
Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.
3. Do I have to pledge some form of security?
No Security is Needed
4. What is the repayment schedule like?
The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.
5. What is EMI?
EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.
6. What is the processing fee? Are there any other charges?
Processing charges are 1.50% to 2.00% of the loan amount with GST. This is amongst the lowest fees in the industry. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.
7. Do I have the option of choosing a fixed or floating rate for the loan?
You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).
8. How does AXIS BANK Personal loan compare with those offered by other banks?
There is total transparency about the axis bank personal loan interest rate and the fees charged by us. Axis Bank offers personal loans at the cheapest rates of interest, with no security or collateral Axis Bank offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity. With an AXIS BANK personal loan, you can choose between fixed rates of interest and floating interest rates.
9. How can I apply for the Axis Bank personal loan?
You can either apply online or visit the nearest Axis Bank loan centre for a personal loan.
10. Will there be any charges for prepayment towards my Axis Bank personal loan?
No pre-payment charges are levied towards the personal loan. You can make part-prepayment at the nearest Axis Bank branches.
11. What is the maximum amount of personal loan one can get in Axis Bank?
Axis Bank gives personal loans in the range of Rs. 15,000 to Rs. 15 Lakhs with minimal documentation and quick approval. These benefits make Axis Bank personal loans an attractive funding option to meet your various requirements.
12. What is the minimum salary to get personal loans from Axis Bank?
The net monthly income must be Rs. 15,000 at least
13. Can we repay the Axis Bank loan early?
Yes, you can make a part prepayment towards your personal loan at the Axis Bank Loan Center nearest to you.
