Apply for Personal Loan Starting From 10.25%*Axis Bank Personal Loan Highlights | |
| Interest rate | 10.25% p.a. onwards |
| Loan Amount | Rs 50,000- Rs 15 lakh |
| Tenure | 1-5 years |
| Minimum Monthly Salary | Rs 15,000 |
Note: Rates as of 28th July 2022
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Table of Contents
Axis Bank Personal Loan Interest Rate
Axis Bank personal loan interest rate starts @ 10.25% p.a. The final interest rates offered to the personal loan applicants depend upon the credit score, age, monthly income, employer’s profile, job profile, etc.
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Comparison of Axis Bank Personal Loan Interest rates with Other Lenders
| Banks/NBFCs | Interest Rates(p.a.) | |
| HDFC Bank | 11.00% onwards | Apply Now |
| SBI | 10.00%-13.75% | |
| ICICI Bank | 10.50% onwards | Apply Now |
| Axis Bank | 10.25% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.49% - 25.00% | Apply Now |
| Bajaj Finserv | 13.00% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
Also Know: Which banks and NBFCs offer lower personal loan interest rate in India?
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Axis Bank Processing Fees & Charges
| Repayment instruction/Instrument return charges | Rs 339 per instance + GST |
| Swap Charges (Cheque/Instrument) | Rs 500 per instance + GST |
| Penal Interest | @ 24% p.a. i.e., 2% per month on overdue installment |
| Duplicate statement issuance charges | Rs 250 per instance per set + GST |
| 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 |
| No dues certificate generation charges (duplicate) | Rs 50 per instance per set + GST |
| Stamp duty charges | As per state stamp |
| Foreclosure charges | On outstanding loan: For 0-12 months: 5% For 13-24 months: 4% For 25-36 months: 3% More than 36 months: 2% |
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Types of Axis Bank Personal Loan
Personal Loan for Holiday
- Purpose: To meet the financial needs for a holiday/vacation.
- Loan Amount: Rs 50,000-Rs 15 lakh
- Tenure: 1-5 years
Personal Loan for Wedding
- Purpose: To meet the financial needs for wedding
- Loan Amount: Rs 50,000-Rs 15 lakh
- Tenure: 1-5 years
Personal Loan for Home Renovation
- Purpose: To meet the financial requirements for home renovation
- Loan Amount: Rs 50,000-Rs 15 lakh
- Tenure: 1-5 years
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Axis Bank Personal Loan Eligibility Criteria
- Salaried Employees such as doctors, employees of private and public limited companies, and employees of government sectors, Public Sector Undertakings, Local and Central bodies
- Age
- Minimum: 21 years
- Maximum: 60 years at the time of loan maturity
- Minimum Net Monthly Income: Rs 15,000
Also Know: What are the personal loan eligibility criteria for salaried employees?
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Documents Required for Axis Bank Personal Loan
- Completely filled application form with recent passport size photographs
- KYC documents (driving license, passport, Aadhaar card, job card by NREGA duly signed by a State Government officer, voter ID, Letter issued by National Population Register with name and address details)
- Proof of Birth date (birth certificate, PAN card, passport, school leaving certificate, Aadhaar card, driving license)
- Signature proof (passport, bank verification, PAN card)
- Income proof (last 2 months pay slips. Employment proof of 1 year, bank statement for last 2 months showing salary credits)
- All the documents should be self-attested
Know About: How to Check Axis Bank Personal Loan Status?
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Axis Bank Customer Care
- 1-860-419-5555
- 1-860-500-5555
- Non Toll Free Number: +91 40 67174100
FAQs
Q. Does Axis Bank provide pre-approved loans?
Ans. Yes, Axis Bank provides pre-qualified instant personal loans to its select customers with end-to-end digital processing.
Q. What is the turnaround time for Axis Bank personal loan disbursal?
Ans. Axis Bank claims to offer quick processing of personal loan while not disclosing the exact turnaround time for personal loan disbursal. However, the pre-qualified personal loan offered by Axis Bank have quicker disbursals, usually within the same day of making loan application. Click here to find whether you qualify for Axis Bank pre-qualified personal loan
Q. Can I choose between a fixed or floating rate for the personal loan?
Ans. Axis Bank Personal Loans are offered only on fixed interest rates. Axis does not offer personal loans on floating interest rates.
Q. Can I use Axis Bank personal loan for any purposes, including for commercial or business purpose? Ans. Axis Bank personal loan can be used for all personal purposes, except for speculation. It can also be used by the entrepreneurs for expanding their business. The loan is sanctioned based on the credit history of the entrepreneur.
Q. Does Axis Bank allow Personal Loan Balance Transfer option? Ans. Yes, Axis Bank allows Personal Loan Balance Transfer option where the existing personal loan borrowers of other banks/NBFCs can transfer their personal loan to Axis Bank at lower interest rates.
Q. At what minimum CIBIL score can I avail personal loan in Axis Bank?
Ans. Axis Bank has not specified a cut off credit score for availing personal loan. However, personal loan applicants having credit score of 750 and above usually have higher chances of availing personal loan at lower interest rates.
