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Axis Bank Personal Loan

Personal Loan

Axis Bank Personal Loans offer fast processing of your loan. 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 from Rs. 50,000 upto Rs. 40,00,000 with minimal documentation and quick processing from Axis Bank. Also, you can transfer your existing high interest Personal Loan to Axis Bank as well. With a quick approval on Axis Bank Personal Loans, turn your dreams into reality!

Personal Loan Details

  • Minimal documentation

  • Minimum Rs. 50,000 Loan Amount

  • Balance Transfer

Personal Loan Features and Benefits

Axis Bank Personal Loan Features

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 Apply for 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.

Axis Bank Personal Loan Benefits

 

Meet all your aspirations

Get assistance from Axis Bank Personal Loans and don’t let the need for money hold you back.

 

Choose your amount

Get a Personal Loan between Rs. 50,000 to Rs. 40,00,000.

 

Decide your tenure

The repayment tenure of your Personal Loan can range from 12 to 60 months.

 

Calculate your loan EMIs

Calculate your Personal Loan EMIs to plan and achieve your financial aspirations by clicking hereTo Calculate your loan EMIs.

 

Enjoy the best rates

Personal Loans starting at 10.49% p.a.

 

Transfer existing loans

Move your existing high-interest personal loan to Axis Bank.

 

Hassle-free Personal Loan

Application requires minimal documentation, and approval is speedy.

Check your Eligibility

Turn your dreams into reality with a Personal Loan from Axis Bank. Take that vacation you have been delaying or complete the home renovation that has been pending. With an Axis Bank Personal Loan , you can do it all. You can use the Personal Loan EMI Calculator to calculate your monthly instalments way before you apply for a loan and have a definite estimate of your monthly payments well in advance.

Individuals who can take a Personal Loan:

  • Salaried Employees

    • Salaried doctors

    • Employees of public and private limited companies

    • Government sector employees including Public Sector Undertakings, Central and Local bodies

  • Minimum age of 21 years

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

  • Minimum net monthly income – Rs. 15,000

  • Duly filled application form

  • KYC documents

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

Disclaimer: This is an indicative list only. Additional documents may be asked for on a case-to-case basis.

Tips to Improve Personal Loan eligibility:

Your eligibility for a Personal Loan is generally higher if you are a government employee, or if you are employed with a reputed private firm. Similarly, a high salary and credit score also improve your Personal Loan eligibility. In addition, there are some steps you can take to ensure that your loan application is approved faster.

  • Maintain a healthy credit score : The higher your credit score, the higher your Personal Loan eligibility. Typically, a credit score of 750 and above by any of the credit bureaus is considered to be healthy. This indicates that you not only have a high ability to repay the loan, but your willingness to repay is also high. The bank views you as a good customer and may approve your loan application faster and may even offer you a competitive interest rate.

  • Avoid applying for multiple loans or credit cards : This will bring down your credit score as you will be seen as credit hungry. Hence, you should apply for a loan or a credit card only if you genuinely need it. If you are seen as someone desperate for credit, the bank may take time to process your application. The due diligence may be more stringent as a Personal Loan is an unsecured loan.

  • Do not default on EMIs or delay your credit card repayment : If you have existing loans, make sure the EMIs are paid on time. Similarly, if you use credit cards regularly, always clear the outstanding within the due date. Avoid any kind of default on your loan EMIs or credit card outstanding. This also impacts your credit score, and could thereby, reduce your Personal Loan eligibility.

  • Keep your EMIs within a limit : All the EMIs for your existing loans should not exceed 40% of your take-home salary. This indicates your repayment capacity and if the bank feels that you cannot afford to repay the Personal Loan, it may reject your loan application. To avoid this, you could reduce the amount you are seeking as a loan and arrange for part of the funds from your pocket. This could help control your EMI outgo and also improve your Personal Loan eligibility.

Interest Rates and Charges

The right Personal Loan is determined by several factors. Interest rates are one of them. Other factors to look at would include an easy approval system/quick disbursals, processing charges, and so on. A Personal Loan from Axis Bank ensures that you can meet all your goals with ease. Be it the perfect wedding for yourself or your child, the complete renovation of your home or a fun-filled holiday. Avail a Personal Loan starting from Rs. 50,000 up to Rs. 40 Lakh with minimal documentation and attractive interest rates.

However to make a duly informed decision be sure to go through the specifics of personal loan interest rates and charges applicable, below. These are subject to change basis the tenure of your loan and also highlight any ancillary charges that may be levied due to a change in payment tenures.

These include charges towards paying off your loan in part (over the agreed EMI) or entirely before its tenure is through, as well as charges levied in addition to the bank loan interest rates due to discrepancies in payment/non-payment of dues. So be sure to consider the interest rates and charges with respect to the amount to make the most of your availed loan. For further assistance in calculation you may also check the Personal Loan EMI Calculator.

Interest rates for Personal Loans with tenures of up to 36 months.
Personal Loan Charges

Looking for a Personal Loan online? Axis Bank offers the most attractive interest rates and charges on Personal Loans. Refer the table below to know more.

Schedule of charges**

**(Subject to change as per Bank’s discretion from time to time)
** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)

Interest rate and schedule of charges for personal loans with tenure more than 36 months

**(Subject to change as per Bank’s discretion from time to time)
** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)

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