Want to enjoy the best personal loan interest rates starting from 12% per annum and pay EMIs that are easy on your budget? Looking for a loan that comes with minimal paperwork and fastest approval? All these and more are available with Axis Bank Personal Loan. Let’s learn more about that below.
Axis Bank Personal Loan Interest Rates January 2023
Axis Bank Personal Loan comes with low interest rate, minimum documentation and fastest loan approval. Apart from this, the lender offers high loan amount and flexible usage options, thus making it convenient for people to repay the loan. With competitive Axis Bank personal loan rates and easy repayment options to choose from, your EMI burden will also be reduced and your loan journey will be much smoother. Read this page further and get detailed loan information from the table below.
| Features | Detail |
|---|---|
| Interest rate | 10,50% – 25,00% |
| Loan amount | INR 1 Lakh – INR 40 Lakhs |
| Term of service | From 12 months to 60 months |
| Processing Fees | 1% of loan amount + GST |
| Advance payments | NIL |
| Security | Not necessary |
Axis Bank Personal Loan Calculator
Personal Loan EMI Calculator is a tool that calculates monthly loan installment, interest expense and total amount. EMI or Equated Monthly Installment is the sum of interest and principal paid every month. This tool works based on the following information:
- Loan amount
- Term of service
- Interest rate
After filling in these details, the device will start receiving the values that you can see in the table below. For a better understanding, you can look at the example below and see the EMI that an individual has to pay if he takes a loan of INR 5 lakh at 15.75% interest for 5 years.
A table showing the EMI, interest charges and total repayment amount
| LOAN AMOUNT | INTEREST RATE | TERM OF SERVICE | MONTHLY INSTALLMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 5,00,000 | 15,75% | 1 | ₹ 45 306 | ₹ 43 676 | ₹ 5,43,676 |
| ₹ 5,00,000 | 15,75% | 2 | ₹ 24 422 | ₹ 86 125 | ₹ 5,86,125 |
| ₹ 5,00,000 | 15,75% | 3 | ₹ 17 517 | ₹ 1,30,607 | ₹ 6,30,607 |
| ₹ 5,00,000 | 15,75% | 4 | ₹ 14 106 | ₹ 1,77,098 | ₹ 6,77,098 |
| ₹ 5,00,000 | 15,75% | 5 | ₹ 12 093 | ₹ 2,25,563 | ₹ 7,25,563 |
EMI, Total Interest Expense, Total Repayment (Interest + Principal)
| YEAR | DIRECTOR | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 71 368 | ₹ 73 744 | ₹ 4,28,631 |
| 2 | ₹ 83 457 | ₹ 61 655 | ₹ 3,45,173 |
| 3 | ₹ 97 593 | ₹ 47 519 | ₹ 2,47,579 |
| 4 | ₹ 1,14,124 | ₹ 30 988 | ₹ 1,33,455 |
| 5 | ₹ 1,33,611 | ₹ 11 657 | ₹ 0 |
The best part about this smart and time-saving device is the fact that it lets you know your EMIs effortlessly. Not only the EMI, you can also know the loan interest and total expenses using this device. The reason borrowers use this device regularly is because it helps them make calculation decisions.
Benefits of using Axis Bank Personal Loan EMI Calculator
Some of the benefits of using an EMI calculator are:
- By using this tool, the applicant can know the monthly payments he has to pay to the lender and plan his monthly finances accordingly.
- This device allows you to know the monthly payments in the most hassle-free way, which means it saves a lot of time and energy. It will give you the results instantly within seconds.
- It tells you more than just the monthly payment, like the total interest expense, the total amount. Also, an amortization schedule will appear showing the details of each periodic payment on the amortization loan in the last year of the service life. Amortization refers to the process of repaying a loan through regular payments over time.
Axis Bank Personal Loan Eligibility
Axis Bank offers personal loans to salaried doctors, individuals in public and private limited companies and public sector employees including public sector enterprises, central and local bodies. So, before you apply, it is important to know your Axis Bank Personal Loan Eligibility. You can see the table below for more details.
| Received a salary |
|---|
|
Documents Required for Axis Bank Personal Loan
Before applying for this loan facility, you should be ready with a complete list of documents to go through your loan journey without any problems. Whether salaried or self-employed, Axis Bank may reject a loan application if the applicant does not have the relevant documents. See the table below for the documents you need to submit.
| Received a salary | Self-employed professionals |
|---|---|
|
|
How to Apply for Axis Bank Personal Loan ?
Applying for a personal loan is just a click away, you just need to visit the Official Website website https://www.axisbank.com/ Yes, you can apply online and enjoy many unmatched features and benefits. But before going for it, it is better to keep the following things in mind.
- Check Your Eligibility: Since this is an unsecured loan, Axis Bank checks the applicant’s profile thoroughly. So, before applying, it’s a good idea to calculate пайдалану құқығыңызan online loan eligibility calculator .
- Online Application: One can apply for this unsecured loan online through Official Website, all you need to do is fill the form with your basic personal and professional details and you are good to go. After submitting your loan application, you need to submit your documents and your loan application will be processed.
- Apply Offline: For those who find it inconvenient to apply online Bank, all you have to do is fill out the form with your basic personal and professional details and you’re good to go. After submitting your loan application, you need to submit your documents and your loan application will be processed.
Axis Bank Personal Loan Special Festive Offers
Festive offer details – 10.25% special interest rate and Rs 4,999 PF and applicable GST.
- The following criteria apply to avail this offer
- Loan amount >= 15 lacs
- The maximum term of the loan is 60 months
- Ең аз NTH (Net Take Home) >= Rs.75K
Note* Validity Period – If your loan application is registered between September 21, 2021 and November 20, 2021 and is paid by November 30, 2021 only.
Different options for making EMI payments for Axis Bank Personal Loan
After knowing a lot about Axis Bank Personal Loan, you might want to know about the various payment methods through which you can easily repay the loan amount. There are basically three methods to choose from – Standing Instruction (SI), Electronic Clearing Service (ECS) and Post-dated Checks (PDC). You can see them all below.
Fixed Instruction (SI) method of repayment
The first thing you need to do to use this method is to have a savings, salary or current Axis bank account. Through this method, your EMI amount is automatically debited from your preferred Axis Bank account on a fixed date every month. If you do not have an Axis Bank account, you will need to open an account to use this payment method.
Electronic Clearing Service (ECS) payment method
This payment method is convenient if you have a bank account with a bank other than Axis Bank. With this method, EMI is automatically debited from your non-axial savings, current or salary account at the end of each monthly cycle.
Post-Dated Check (PDC) Settlement Method
This is a type of offline payment method where you need to send post EMI checks from your nearest Axis bank credit center non-Axis bank account. But it is important to remember that you need to do this on time every month, otherwise you will miss a payment and then have to pay different fees. Each month you will need to submit a new set of post-dated checks.
Also, you should send these later-dated checks only to locations that do not have an ECS facility. Axis Bank recommends opting for SI or ECS payment methods as they are completely online, fast and less error prone.
Axis Bank Personal Loan Balance Transfer
If your existing lender charges high interest rates on a personal loan, a balance transfer is one of the smartest options you can choose. Transfer your existing personal loan to Axis Bank and enjoy low interest rates along with pocket-friendly EMIs. The process of transferring your existing outstanding balance to Axis is simple and quick. You can go to a bank branch and apply or you can do it online. Hence, it allows you to avail the benefits of low rates along with affordable EMIs.
Axis Bank Personal Loan Approval Process
The personal loan approval process depends on the CIBIL score of the applicant. If a person has a good CIBIL score of around 750 and above, he can get a good interest deal. can check your CIBIL score for free and get your online report within minutes. Isn’t that great?
Axis Bank Personal Loan Status
An applicant can check the status of his loan application online by entering the application ID. To monitor the status of the application, he must visit the bank’s website. The loan application status is displayed on the screen. You can clearly see if your loan is approved, pending or declined.
Axis Bank personal loan customer service
Keeping in mind the comfort and convenience of the customers, Axis Bank has a toll free number: 1800 103 5577 where the customer can ask their product related queries. Customers can call this number anytime and solve their queries. Customer service managers are available 24/7 on this toll-free number to address all your queries, concerns and complaints so that you can get a hassle-free loan.
Access to Axis Bank Personal Loan
Axis Bank account login process is quick and easy. All you need is your credentials. With the help of login ID and password, you can simply log into your account and monitor your personal loan. No need to go to the bank, because everything is at your fingertips.
Axis Bank Personal Loan Statement
Now, keeping track of your personal loan is no longer a problem as you can get Axis Bank personal loan reference online. Yes, you just need to sit back and relax as your loan details are automatically delivered to your inbox every month. Every month, the bank will send you a statement of your debt, showing the outstanding balance, paid, paid, etc. All credentials are displayed as This makes it easier for borrowers to monitor their loan details.
Why Choose Axis Bank Personal Loan?
This lender is a household name in Indian banking by providing a range of financial products that inspire people to dream. Be it loans, investments, insurances, cards, forex, deposits, etc., this private sector lender leaves no stone unturned to meet the diverse needs of all its valued customers. With its exclusive range of financial products like With an exclusive range of financial products like personal loan, the lender always ensures that people get this loan facility with attractive rates and flexible term. The loan facility offered by this lender gives you many opportunities and benefits. You can check the benefits below. The lender always ensures that people will get this credit facility at attractive rates and flexible terms. The credit facility offered by this lender comes to you with many unmatched features and benefits to make the most of. You can check the benefits below.
Fastest Approval: You can go online or offline to avail this loan facility and best of all, you can expect the fastest loan approval in return. This will reduce your valuable time and effort.
High Loan Amount: Isn’t it good that this famous lender offers you a loan amount up to INR 50 Lakh? Yes, with this huge amount, you can easily fulfill all your numerous needs without thinking twice.
Competitive interest rates: What could be more interesting and attractive than availing this credit facility at an interest rate of 15.75% per annum. In order to reduce the credit burden, the lender offers you the lowest rates.
Zero Prepayment Fees: If a borrower wants to pay off his loan before the specified deadline, he can easily do so without any fees. Yes, the lender has no prepayment or foreclosure fees for those who want to close the loan early.
Minimum Documentation: In order to avail this loan facility, the applicant has to submit some important documents. The best part is that the process is very simple and quick. It does not require a long list of documents, so you can easily use it.
Online Loan Account Facility: The Bank offers an online loan account facility where the applicant can track his application status, repayment schedule and other information. With this tool, you can log into your account and check it 24×7 at your convenience.
eDGE Loyalty Points: The lender offers eDGE Loyalty Points on personal loans, which can be redeemed for cash back and rebates. Yes, these loyalty rewards can be easily redeemed for multiple purposes.
Multiple Repayment Options: Bank offers multiple repayment options like ECS or PDC for this loan facility. With these repayment options, you can pay off your loan easily.
Flexible Tenure: If the borrower avails the loan, he can make the repayment from 12 months to 60 months according to his convenience. With a flexible tenure, you can pay off your loan more easily as your burden is reduced.
About Axis Bank Personal Loan
Axis Bank is the third largest private bank in India and one of the most preferred personal loan providers. With a wide network of branches across the country, Axis Bank Personal Loan is affordable and easy. Yes, both salaried and self-employed individuals can access this loan facility to meet their personal needs. In addition, this famous lender offers a personal loan with the impression that financial urgency is temporary. Be it for any personal or professional reason – wedding, home renovation, starting a new business, medical emergencies, higher education or any other legitimate purpose, this loan facility is available to all.
You, Axis Bank personal borrowers, be prepared to pay more while availing a personal loan. Now with the implementation of GST, 15% service tax on payments including processing fee and advance payment has now been replaced by 18% GST. Due to the impact of GST, personal loan borrowers will have to pay slightly more fees and charges.
There are no bank terms and conditions when using loan money. Yes, isn’t it great! The lender will not ask you what you intend to use the funds for. Once your loan is sanctioned, you can use the loan amount to meet your multiple needs without opening a bank.
Axis Bank Personal Loan Frequently Asked Questions
1. How to avail Axis personal loan online?
If you are ready to apply for Axis Bank personal loan online, then you can directly visit the official website of Axis Bank and provide your basic details to avail the loan. There is another option to apply for a personal loan online, for which you need to fill out the above form. To apply for an Axis personal loan, specify the desired amount, occupation status, monthly income, city, name and contact number.
2. How long does Axis Bank take to approve a personal loan?
Axis Bank takes about 72 hours to approve the personal loan after verifying all the applicant’s documents.
3. How long does it take to get a personal loan from Axis Bank?
You can get a personal loan from Axis Bank within 3 days of providing all the supporting documents proving your eligibility to the bank.
4. What is the minimum personal loan amount at Axis Bank?
INR 50000 is the minimum personal loan amount with Axis Bank and you can get a loan up to INR 15 lakh from that bank.
5. Can I get 2 personal loans from Axis Bank?
Yes, you can get 2 personal loans from Axis Bank, but you must have a good Cibil score, income and credit limit with the bank.
6. What documents are required to get an Axis personal loan?
Axis Bank asks for the following documents if you apply for a personal loan:-
– PAN card as identity proof
– Signed personal loan application form
– One address proof – Aadhar card or voter ID card or passport or electricity bill
– One income Proof – 3 to 6 months bank statement or salary slips or latest ITR
– several passport size photographs
7. Who is eligible for Axis bank personal loan?
The following person can avail Axis Bank Personal Loan:-
– A person who is not less than 23 years of age.
– A person whose maximum age at the time of repayment of the loan is 60 years.
– Minimum Salary 15000 INR per month.
– High Cibil score of 750 and above.
– A person who is a citizen of India.
8. What documents are required for an Axis Bank personal loan?
Before applying for an Axis Bank personal loan, you will need an identity proof, address proof, income proof, application form and a few passport size photographs.
9. Does Axis Bank provide instant personal loan?
Yes, you can get an instant personal loan from Axis Bank and it will be disbursed within 72 hours if you fulfill all the eligibility criteria and submit the supporting documents.
10. Who can be your co-borrower in Axis Bank personal loan application?
A co-borrower in an Axis Bank personal loan application can be the spouse, parents, siblings and children of the applicant.
11. What is the minimum CIBIL score required for an Axis Bank personal loan in India?
750 is the minimum Cibil score required for Axis Bank Personal Loan in India and it has started fast loan disbursal.
12. How to close Axis Bank Personal Loan?
You can follow below steps to close Axis Bank Personal Loan:-
– Visit your nearest Axis Bank Branch
– Meet the representative and ask him to close Axis Bank Personal Loan.
– Fill out the form and pay the outstanding loan amount.
– After paying off the loan, get NOC from the bank.
13. How is Axis bank personal loan recovery carried out?
You can avail Axis Bank Personal Loan by visiting your nearest Axis Bank branch. You must complete a foreclosure form and pay the outstanding loan amount along with the foreclosure charges. After completing all the formalities, your Axis personal loan will be charged and you will get NOC
14. How is a personal loan of Axis Bank paid?
You can pay axis bank personal loan through EMI and recover it after a certain period of time. Most people use the bank’s auto debit facility to pay off their personal loan.
15. How to check personal loan balance in Axis Bank?
You can check your Axis Bank personal loan balance by logging into Axis Bank’s official website. It shows all the details of your personal loan, including the interest and the outstanding loan amount.
For more details:- https://www.axisbank.com/
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