Axis bank personal loan – interest rates, Eligibility, Documents required

Axis Bank Personal Loans are instant and come with no foreclosure and part payment charges. Personal Loans can be used for plenty of purposes! 

They can be availed when you are planning a vacation, renovating your home, or arranging a dream wedding for yourself or somebody special in the family. 

Now you need not postpone things on your bucket list! You can get a Personal Loan of Rs. 50,000 up to Rs. 15,00,000 with minimal documentation and speedy approval from Axis Bank. 

Also, you can transfer your existing high-interest Personal Loan to Axis Bank as well. With quick approval on Personal Loans, turn your dreams into reality!

Features of Axis Bank personal loan

One needs to be of a minimum age of 21 years and should have a valid set of documents like ID, income, and residence proof, among other documents, to avail a Personal Loan from Axis Bank.

To ease the burden of paying off the Personal Loan immediately, you may opt for the EMI (Equated Monthly Instalment) facility. The repayment tenure can range from anywhere between 12 to 60 months. If you’re an Axis Bank customer, you can avail the best rates for Personal Loans!

To know how much you need to pay per month, there is a Personal Loan calculator at your disposal. You can choose your tenure and the amount that you are comfortable repaying each month for the chosen tenure. 

With the Personal Loan EMI Calculator, you can also calculate the compound interest and know exactly how much you need to finally part with – including the interest.

Document required for Axis bank Personal loans

Fully filled application form

KYC documents like Aadhar card, PAN, Voter ID.

Loan Agreement duly signed and Standing Instruction (SI) Request / ECS Forms

Eligibility for Axis bank personal loan 

Minimum net monthly income – Rs. 15,000.

Maximum age of 60 years at the time of maturity of the Personal Loan.

Minimum age of 21 years.

Salaried employees like Doctors, Employees of public and private limited companies, Government sector employees including Public Sector Undertakings, Central and Local bodies.

Axis bank Interest rates and Fees

The rate of Interest varies from12% to 24%.

Repayment instruction / Instrument return charges are Rs.500/- per instance of dishonor of cheque /SI/ECS/NACH debit instruction + GST as applicable.

Cheque/Instrument is Rs.500/- per instance + GST as applicable.

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.

Axis bank personal loan 

You can take a Loan amount varies from Rs.50,000 to up to Rs.15,00,000

The interest starts from 15.75%.

The duration of the loan can be from 12 to 60 months.

You can easily transfer your high-paying interest loans from other banks to Axis bank.

Steps to apply for Axis bank personal loan 

Evaluate your needs to know the exact loan amount you need.

Take into account any existing loan or credit card dues that you may currently be repaying, as this will determine the EMI you can afford to pay. 

Use the Personal Loan Eligibility Calculator to understand how much you can repay in a month.

Check the bank’s eligibility conditions to know if your income and employment (the company you work for) will qualify.

Check the interest rate offered by the bank. Use the Personal Loan EMI calculator to find out how much your monthly outgo will be.

If you are an existing customer you can apply for the loan on the bank’s mobile app or through your internet banking account. If you are a new customer you can download the application from the bank’s website or get it at the branch.

Provide documents for KYC, address proof and income proof along with the application form, along with the cheque for the processing charge

The bank will verify the documents, give you the loan sanction and approve the amount based on your eligibility. 

This will be followed by the signing of the agreement and the Standing Instruction (SI) Request/ECS Forms. Once this is done the funds will be disbursed to your account.

The amount is then credited to your account. The entire process may take up to 30 days.

Axis bank customer care details

Axis bank customer care number is 1-860-419-5555. 

To apply for Axis bank personal loan “Click here

Conclusion (Personal review)

With more than a million downloads on the Play store and very reliable, it one of the most reliable apps around. They disburse loans very quickly and the customer care response is also quick, The interest rates are high and there is a limited loan that you can borrow. For a salary advance, this company is very good as there is no late payment.

I hope you find this information regarding “Axis bank personal loan” is helpful. Feel free to share it with your friends and family if you find it helpful.