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The facility is offered with convenience and zero documentation. Also, you have the option to choose from multiple tenors that suits your requirements. Here we have explained everything about Axis Bank Instant Loan facility including its fees, eligibility, benefits and more.
| On this page |
| Particulars | Axis Bank Instant Loan Details |
| Eligibility | It is defined by the bank’s internal policy guidelines. You will be eligible for a specific offer for a particular time period |
| Documents Required | No documents required |
| Loan Amount | Varies from customer to customer |
| Loan Tenure | 12, 24, 36 or 48 months |
| Interest Rate | Varies from customer to customer (generally between 12.60% to 22.20% per annum) |
| Processing Fee | One-time processing fee of 1.5% or Rs.500, whichever is higher |
| Loan Disbursal Time | Immediate disbursement / minimized TAT |
Note- The credit limit on the card will be blocked by the amount for which the facility is granted in case where such amount forms part of the available credit limit.
To know more about the terms and conditions, click here
To apply for Axis Bank Instant Loan facility, you can opt for any of the following methods-
Give a missed call on the below-mentioned number. The bank’s representative will contact you for further process of verification. Dial 18004190230 for information on Axis Loan on Credit Card
Contact the Axis Bank Customer Care on the below-mentioned numbers to apply for the Instant Loan facility. Call on-18605005555 / 18604195555
You can also apply for the same online via Axis Bank Net Banking. Follow the below-listed steps-
The loan amount on approval shall be disbursed in any of the following forms-
The instant loan amount you applied for is required to be repaid in easy EMIs. The bank offers an easy online tool to help you calculate the total payable amount. You need to enter the proposed loan amount, tenure, and interest rate into the tool and click on the ‘calculate’ button. All the charges will be displayed on the screen.
To go to the Axis Bank Instant Loan on Credit Card Calculator, click here
For a better understanding, have a look at the below-mentioned illustration-
For example, consider Rs.40,000 as proposed loan amount, 12 months tenure and 15% interest rate. Based on the calculation and the added charges, the total payable amount will be Rs.44,772.
Furthermore, the loan repayment schedule will be represented in the form of an amortisation table for easy understanding. The amount will vary depending upon the loan amount, tenure and interest rate. Considering all the factors, you can make an informed decision when choosing the loan amount and loan tenure.
You will have to repay the facility and interest further in easy EMIs. The interest shall be at the fixed rate as communicated by the bank at the time of initiating the facility. Also, the interest calculation will begin at the time the amount is disbursed. The amount of EMI due for a particular month will be reflected in the credit card statement for that particular month.
You will be required to pay the entire amount of the EMI for a particular month on the Payment Due Date, as mentioned in the Statement and the same shall not be allowed to be carried forward or included in the next statement generated.
Note- In case the payment is not made by the Payment Due Date, it shall be considered as a default and you will become liable to pay the amount together along with the late payment charges, as specified in the terms and conditions.
Is there any documentation required to apply for loan on Axis Bank credit card?
No, there’s no documentation required to apply loan on Axis Bank credit card.
What is the customer care number of Axis Bank?
Axis Bank credit cardholders can contact on 1 800 419 5577 in case of any queries.
Can I apply for a loan via phone banking and net banking?
Yes, you can easily apply for a loan via phone banking and net banking.
