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Axis Bank Marriage Loan Highlights |
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| Interest rates | 10.99% p.a. onwards |
| Loan amount | Rs 50,000 to Rs 15 lakh |
| Repayment tenure | 1 to 5 years |
| Processing Fees | 1.5% – 2% of the loan amount + GST |
| Minimum Net Monthly Income | Rs 15,000 per month |
Note: Interest rates as on 20th June 2024
Table of Contents
Axis Bank Marriage Loan Interest Rates
Axis Bank Personal Loan interest rates for marriage loans start from 10.99% p.a. Although the bank has not specified the differential interest rates for marriage loan applicants based on their credit score, occupation profile, work experience (for salaried and business continuity (for self-employed) or other parameters, most lenders consider these factors for setting the personal loan interest rates for loan applicants availing marriage loans.
Apply for Axis Bank Personal Loans at Attractive Interest Rates Click Here
Fees and Charges of Axis Bank Marriage Loan
Processing fees
Axis Bank charges a processing fee of 1.5% – 2% of the loan amount plus GST for marriage loans.
Prepayment Charges
| Particulars | Charges |
| Foreclosure / Part prepayment charges | Foreclosure is charged on the outstanding loan amount and prepayment is charged on the part prepayment amount:
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Other fees and charges
| Particulars | Charges |
| Repayment instruction / Instrument return charges | Rs 339 per instance of dishonor of cheque / ECS / SI / NACH debit instruction + GST |
| Swap charges | Rs 500 per instance + GST |
| Penal Interest | 24% p.a. (2% per month on the 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 (CICs) Report Issuance Charges | Rs 50 per instance per set + GST |
| No Dues Certificate generation charges (Duplicate) | Rs50 per instance per set + GST |
| Stamp Duty Charges | As per State Stamp Act |
Eligibility Criteria for Availing Axis Bank Marriage Loan
The personal loan eligibility criteria for loan applicants availing marriage loans from Axis Bank are as follows:
- Both Salaried and Self-Employed loan applicants are eligible
- Age: Between 21 years to 60 years
- Minimum net monthly income: Rs 15,000.
Additionally, Axis Bank may also consider the credit scores of their marriage loan applicants for evaluating their eligibility like other lenders. Personal loan applicants with low or no credit scores can avail the Step Up Credit Card co-branded with SBM Bank India Ltd., a lifetime free secured credit card issued by Paisabazaar.com against fixed deposits of SBM Bank, in order to build/improve their scores. An improved credit score can increase the chances of availing Axis Bank Marriage loan or other Axis Bank Personal Loan schemes. Prospective marriage loan applicants should also use the Axis Bank Personal Loan EMI Calculator to determine the EMIs and personal loan tenures based on their repayment capacity.
Apply for Axis Bank Personal Loans at Attractive Interest Rates Click Here
Axis Bank Marriage Loan Documents Required
Axis Bank has not mentioned any specific documentation for availing marriage loans. However, the documents needed for marriage loans are usually similar to the documents required for availing regular personal loans. Following are the required Axis Bank Personal Loan Documents:
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 Date of Birth
- Birth certificate
- PAN card
- Passport
- School leaving certificate
- Aadhaar card
- Driving license
Proof of Signature
- Passport
- Bank verification
- PAN card
Proof of Income
- Payslips of last 2 months
- Employment proof of 1 year
- Bank statement for last 2 months showing salary credits
All the documents, along with the application form, should be self-attested