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Axis Bank 1 Lakh Personal Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Axis Bank 1 Lakh Personal Loan- Key Features

  • Interest rates starting from 9.99% p.a. onwards.
  • Loan tenure ranging up to 5 years.
  • Processing fee up to 2% of the loan amount.
  • Instant personal loans at affordable interest rates
  • Pre-approved personal loan offered to existing customers with immediate approval and loan disbursal within hours.
  • Pre-qualified personal loan offered to new customers
  • Simple and easy online process

Axis Bank Personal Loan Interest Rates for 1 Lakh Personal Loan

Axis Bank offers personal loans at interest rates starting from 9.99% p.a. Lenders usually offer differential interest rates depending on the credit profile of the applicants. Applicants having a strong credit score and an excellent repayment history have higher chances of availingpersonal loans at lower interest rates.

Minimum Interest Rate 9.99% p.a.
Maximum Interest Rate 17.15% p.a.

Fees and Charges of Axis Bank Personal Loan for 1 lakh Personal Loan

Particulars Charges
Processing Fees Up to 2%
Foreclosure/Part-prepayment charges For Loans Disbursed on or after April 1, 2024:

  • 3% + GST on the principal outstanding for EMIs paid up to 36 months
  • 2% + GST on the principal outstanding for EMIs paid above 36 months

Foreclosure fee is charged on the outstanding principal amount

Part-prepayment fee is charged on the part-prepayment amount

For personal loans disbursed on or after December 31, 2024, borrowers can prepay up to 25% of the outstanding loan amount each year without incurring any part-prepayment charges, after the payment of 12 EMIs. However, there has to be a gap of at least 12 EMI between such part-prepayments.
Repayment instruction/Instrument return charges Rs 339 per instance + GST on dishonor of cheque/ECS/NACH/SI debit instructions
Swap Charges (Cheque/Instrument) Rs 500 per instance + GST
Penal Charges Financial Default*: 8% p.a. above the applicable interest rate on the overdue amount (subject to the aggregate not exceeding 24% per instance). There would be no capitalisation of penal charges. Borrowers should note that financial default includes all types of financial defaults or irregularities with respect to their loan account.
Stamp duty charges As per the Stamp Act of the respective states
Duplicate Amortization Schedule issuance charges Rs 250 per instance per set + GST
Credit Information Companies Report issuance charges Rs 50 per instance per set + GST
Duplicate statement issuance charges Rs 250 per instance per set + GST
Issuance charges of Duplicate No Dues Certificate Rs 50 per instance per set + GST
Loan Cancellation Charges For loan cancelled within 0-3 days: Interest component (till the date of cancellation), stamp duty, processing fee, GST and other statutory charges would not be waived.

Loan cancelled after 3 days are considered as foreclosure.

Axis Bank 1 Lakh Personal Loan: Eligibility Criteria

Below-mentioned is the personal loan eligibility criteria set by Axis Bank for individuals availing a personal loan of Rs 1 lakh:

Eligibility Criteria Details
Age 21-60 years
Minimum Monthly Income
  • For existing customers- Rs 15000
  • For new customers- Rs 25000
Job Profile Salaried and self-employed
Credit Score 700 and above

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Documents Required During Personal Loan Application

Axis Bank requires the below-mentioned documents at the time of personal loan application:

  • KYC documents- Aadhar card, passport, voter ID, driving license, PAN card
  • Bank statement for last 3 months
  • Salary slip for last 3 months
  • Latest Form 16

EMI of 1 Lakh Personal Loan from Axis Bank

Below-mentioned is the EMI calculation of personal loan of Rs 1 lakh availed from Axis Bank for tenure of up to 7 years. Applicants can use the personal loan EMI calculator available online to evaluate the same.

Loan Amount (Rs) Interest Rate (p.a.) Tenure EMI (Rs)
1,00,000 9.99% 1 year 8,791
1,00,000 9.99% 2 years 4,614
1,00,000 9.99% 3 years 3,226
1,00,000 9.99% 4 years 2,536
1,00,000 9.99% 5 years 2,124
1,00,000 9.99% 6 years 1,852
1,00,000 9.99% 7 years 1,660

Swipe to see more table data

How to Apply for Axis Bank Personal Loan of Rs 1 lakh through Paisabazaar App

Individuals can apply for Axis Bank personal loan of Rs 1 lakh through Paisabazaar app in the following steps:

  • Download the Paisabazaar app and login.
  • Click on personal loans and fill in the required details
  • View curated offers along with their interest rates, processing time, fees and charges, documents required, etc.
  • Choose the best-suited offer.

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

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FAQs

Axis Bank offers personal loan interest rates ranging from 9.99% p.a. to 22% p.a. depending on the credit profile of the applicant.

The total interest cost of 1 lakh personal loan for tenure of 7 years would be Rs 39,407.

You can calculate the total EMI and interest cost with the help of personal loan EMI calculator available online. All you need to do is enter the loan amount, interest rate and loan tenure in the EMI calculator and get instant results.

Applicants having a minimum credit score of 700 and above have higher chances of availing 1 lakh personal loan from Axis Bank at lower interest rates.

Yes Axis Bank levies processing charges of up to 2% of loan amount on availing a personal loan of Rs 1 lakh.

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