- 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 1 Lakh Personal Loan
Axis Bank offers collateral-free personal loan of Rs 1 lakh to meet the personal financial needs of its applicants. Prospective borrowers can visit Paisabazaar app to apply for Axis Bank Personal Loan of Rs 1 lakh. They can also compare the interest rates and other offers by Axis Bank with other partner lenders on Paisabazaar app.
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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
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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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
Apply Now
Axis Bank 1 Lakh Personal Loan- Key Features
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:
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 |
|
| Job Profile | Salaried and self-employed |
| Credit Score | 700 and above |
Documents Required During Personal Loan Application
Axis Bank requires the below-mentioned documents at the time of personal loan application:
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 |
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:
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
Apply Now
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Overview
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FAQs
What is the interest rate of 1 lakh personal loan from Axis Bank?
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.
What is the total interest cost of 1 lakh personal loan for tenure of 7 years?
The total interest cost of 1 lakh personal loan for tenure of 7 years would be Rs 39,407.
How can I calculate the total EMI and interest cost payable throughout the loan tenure?
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.
What should be the minimum credit score to avail a personal loan of Rs 1 lakh from Axis Bank?
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.
Does Axis Bank levy any processing charges on 1 lakh personal loan?
Yes Axis Bank levies processing charges of up to 2% of loan amount on availing a personal loan of Rs 1 lakh.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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