Be it planning a vacation with your family or opting for higher education or facing a medical emergency, Axis Bank personal loan can disbursed to your account within 3 to 5 working days. Axis Bank offers personal loan to salaried professionals ranging from Rs. 50,000 to Rs. 15 lakh that can be repaid within the tenure varying from 12 to 60 months. This easy to avail personal loan is offered to salaried employees and ensures speedy approval along with easy documentation process and no foreclosure/part payment charges.
Axis Bank Personal Loan - Features and Benefits
- Loan amount: The personal loan offered by Axis Bank varies from Rs. 50,000 to Rs. 15 lakh.
- Flexible tenure: The repayment tenure of Axis Bank personal loan varies from 12 to 60 months and you can decide the appropriate tenure as per your convenience.
- Quick approval: The Axis Bank personal loan is easy to apply, requires minimum documentation and is processed instantly if you meet the eligibility criteria.
- Balance transfer: Axis Bank offers you the feature of transferring your existing high interest personal loan to Axis Bank to get lower interest rate.
Axis Bank Personal Loan - Interest Rate, Fees and Charges
|Interest Rate||15.75% – 24%|
|Repayment instruction / Instrument return charges||Rs.500/- per instance of dishonor of cheque /SI/ECS/NACH debit instruction + GST as applicable|
|Swap charges (Cheque/Instrument)||Rs.500/- per instance + GST as applicable|
|Penal Interest||@ 24% per annum i.e. 2% per month on the overdue installment.|
|Duplicate statement issuance charges||Rs.250/- per instance per set + GST as applicable.|
|Duplicate Amortization schedule issuance charges||Rs.250/- per instance per set + GST as applicable.|
|Re-Issuance of photocopy of loan agreement/documents||Rs.250/- per instance per set + GST as applicable.|
|Credit Information Companies (CICs) Report Issuance Charges||Rs. 50/- per instance per set + GST as applicable.|
|Duplicate NOC||Rs. 500/- per instance per set + GST as applicable.|
|Stamp Duty Charges||As per State Stamp Act|
Axis Bank Personal Loan Eligibility
- You should be a salaried employee – which includes salaried doctors, employees of public and private companies, public and private limited companies, government sector employees including public sector undertakings, central and local bodies.
- Your monthly net income should be a minimum of Rs 15,000.
- The minimum age requirement for personal loan with Axis Bank is 21 years and the maximum age at the time of loan maturity should be 60 years.
- Your credit score should be more than 750 as it is preferred by most of the banks.
Axis Bank Personal Loan Documents Required
- The loan application form, stating the necessary personal as well as professional information like income, occupational details etc.
- Recent photographs
- Age Proof- Aadhar Card, PAN, Passport, Driving License
- Income Proof- Salary Slips of 3 months
- Bank Statement of last 6 months
- Residence Proof- Rental Agreement or Lease Agreement, Ration Card, Utility Bills (water, electricity, phone or gas bill), Driving License
Axis Bank Personal Loan - Post Sanction/Pre-disbursement Documentation
- The Loan Agreement duly signed by the customer.
- Standing Instructions (SI) request for ECS Form or Post Dated Cheque (PDCs) or Security Cheque required for SI and ECS.
- Qualification or registration Proof required for Doctors, Architects, CA, CS, ICWA, MBA Consultant, Engineers may vary from customer to customer.
Axis Bank Personal Loan EMI Calculator
Personal loan EMI calculator is an online tool available on Paisabazaar.com. This tool is designed to give you the exact idea about how much your future EMIs are going to cost if you opt for a personal loan. The EMI calculator is easy to use and asks you to select the desired:
- Loan amount
- Interest rate
As soon as you scroll the bar to desired numbers, your EMIs will get reflected on the screen.
Axis Bank Personal Loan VS Personal Loan Offers from Other Lenders
|Particulars||Axis Bank||HDFC Bank||Citibank||ICICI Bank||Bajaj Finserv|
|Interest Rate||15.75% to 24%||11.25% to 21.50%||Starting from 10.99%||11.50% to 19.25%||Starting from 12.99%|
|Tenure||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 40 lakh||Upto Rs. 30 lakh||Upto Rs. 20 lakh||Upto Rs. 25 lakh|
|Processing Fee||Upto 2% of loan amount plus GST||Upto 2.50% of the loan amount||Upto 3% of the loan amount||Upto 2.25% of loan amount plus GST||Up to 3.99% of the loan amount|
|Apply Now||Apply Now||Apply Now||Apply Now||Apply Now|
Axis Bank Personal Loan - Customer Care
- You can call Axis Bank at 1 – 860 – 419 – 5555 or 1 – 860 – 500- 5555
- NRIs can contact the bank through the following numbers:
|USA||1855 205 5577|
|Saudi Arabia||800 850 0000|
|UK||0808 178 5040|
|UAE||8000 3570 3218|
|Singapore||800 1206 355|
|Qatar||00 800 100 348|
|Canada||1855 436 0726|
|Bahrain||800 11 300|
|Australia||1800 153 861|
|(Non – Toll Free)||+91 40 67174100|
- You can visit the nearest branch of Axis Bank.
- You can send an email to the bank at firstname.lastname@example.org by using your registered email id.
Ques. What is the turnaround time for decision on a personal loan application?
Ans. Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects.
Ques. What is the minimum and maximum loan amount offered?
Ans. The loan amount starts from Rs 50,000 to Rs 15 lakh. Some factors considered while deciding the loan amount are:
- Requirement and Eligibility
- Repayment Capacity
Ques. What is the period of repayment for Axis Bank personal loans?
Ans. The loan tenure ranges from 12 months to 60 months. One can choose any repayment tenure as long as it is within its available range of tenure.
Ques: How do I compare the interest rates of various banks and NBFCs at Paisabazaar?
Ques. Is Pre-payment allowed with Axis Bank personal loan?
Ans. Yes, pre-payment towards Axis Bank personal loan is allowed at the nearest Axis Bank Loan center. Currently, Axis Bank levies no charge on pre-payment.
Ques: How do I get in touch with Paisabazaar’s customer care?
Ans: You can call on the toll- free number 1800 208 8877 (9am to 9pm) or you can send an email at email@example.com
Ques. Is the option of foreclosing allowed under the Axis Bank personal loan scheme?
Ans. To opt for foreclosing, the existing dues need to be cleared. Once all the dues are cleared, only then the loan can be foreclosed.
Ques: Do I have to pay a fee to apply for an Axis Bank Personal Loan?
Ans: Yes, the bank would charge you a non- refundable processing fee that ranges between 1.5% to 2% of the loan amount plus GST.
Ques: How do I repay the personal loan?
Ans: You can repay the personal loan through Electronic Clearing Service (ECS), Standing Instruction (SI) or Post-Dated Cheques (PDCs).
Ques: How do I locate the nearest branch of Axis Bank?
Ques: How do I contact the customer care of Axis Bank?
Ans: You can contact the customer care of Axis Bank by calling 1860-419-5555.
Ques: Do I have to pay a fee to apply for Axis Bank Personal Loan?
Ans: A non- refundable fee of 2% of the loan amount plus GST is applicable on a personal loan.
Ques: Is it possible to update my mobile number and email address registered under my Personal Loan account?
Ans: Yes, you can update your email address and mobile number through the following ways:
- By calling the customer care at 1-860-419-5555 and 1-860-500-5555.
- By writing an email to the bank at firstname.lastname@example.org using your registered email id.