Axis Bank offers personal loans starting at 10.25% p.a. With Axis Bank Personal Loan, you can fulfill your various personal needs as there is no restriction on the end-use. Along with this, you can repay the loan within a flexible tenure ranging from 12 to 60 months.
Axis Bank Personal Loan Interest Rate – May 2022
The interest rate on Axis Bank personal loans starts at 10.25% p.a. However, specific interest rate applicable to an applicant depends upon the person’s individual applicant profile including his/her credit score, age, loan amount and tenure desired, etc.
Comparison between Axis Bank and other Banks/NBFCs
|Banks/NBFCs||Interest Rates (per annum)|
|Axis Bank||10.25% onwards|
|SBI||9.60% – 13.85%|
|HDFC Bank||10.25% – 21%|
|ICICI Bank||10.25% onwards|
|Kotak Mahindra Bank||10.75% onwards|
|IndusInd Bank||10.49% onwards|
|IDFC First Bank||10.49% – 23%|
|Bajaj Finserv||13.00% onwards|
|Tata Capital||10.99% onwards|
How to Get Low Interest Rates on Axis Bank Personal Loan?
The following are some tips and tricks to get the lowest interest rates on your personal loan from Axis Bank:
- Maintain a high credit score
- Ensure stable employment history
- Pay your existing EMIs and credit card dues by their due dates
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Q. Is Axis Bank personal loan interest rate fixed or floating?
Axis Bank offers personal loans at a fixed interest rate, i.e., the interest rate remains the same or unchanged throughout the loan tenure.
Q. How does Axis Bank personal loan interest rate depend on credit score?
Generally, a good credit score indicates a higher creditworthiness and good repayment track record and may help you avail a lower rate on interest on your Axis Bank personal loan. Whereas, a poor credit score indicates a greater degree of risk for the lender and may thus, result in an outright rejection or a higher rate of interest on your personal loan.
Q. What are the factors that affect Axis Bank personal loan interest rates?
Some key factors which affect the interest rate charged on your Axis Bank personal loan include your credit score, employer’s reputation and employment history, income and your existing relationship with the bank.
Q. Can a higher level of income help me avail a lower rate of interest on my Axis Bank personal loan?
A higher income level usually indicates greater financial stability and thus, lowers the risk of defaulting on repayments which may in turn help you get a lower rate of interest on your personal loan.
Q. What is the lowest rate of interest that one can avail on a personal loan from Axis Bank?
At present, the lowest rate that Axis Bank offers on its personal loans is 10.25% onwards p.a.