Introduction
Axis Bank, a leading private sector bank in India, provides personal loans with interest rates beginning at 11.25% annually. The loans are designed to address diverse financial requirements, offering amounts up to Rs 40 lakh with repayment terms of up to 7 years. In collaboration with Paisabazaar, Axis Bank customizes loan offerings for particular clients, suitable for weddings, home improvements, and other personal needs.

Key Features of Axis Bank Personal Loans
Interest Rate: Starting at 11.25% per annum
Loan Amount: Up to Rs 40 lakh
Tenure: 1-7 years
Minimum Monthly Salary Requirements: Rs 15,000 for existing Axis Bank customers; Rs 25,000 for new customers
Processing Fees: Up to 2%

Interest Rates
Axis Bank's personal loan interest rates start at 11.25% per annum. Although specific factors affecting these rates are not provided, they generally involve the applicant’s credit score, income, and age. Here’s how Axis Bank’s rates compare with other lenders:

• Axis Bank: 11.25% onwards
• IndusInd Bank: 10.49% onwards
• IDFC First Bank: 10.99% onwards
• HDFC Bank: 10.50% onwards
• ICICI Bank: 10.80% onwards
• Kotak Mahindra Bank: 10.99% onwards
• Tata Capital: 10.99% onwards
• Federal Bank: 12.00% onwards
• DMI Finance: 12.00% - 40.00%
• L&T Finance: 12.00% onwards
• Kreditbee: 16.00% - 29.95%
• MoneyTap: 13.00% onwards
• Piramal Finance: 12.99% onwards
• Aditya Birla: 10.99% onwards
• Moneyview: 15.96% onwards
• Cashe: 27.00% onwards

Fees & Charges
On personal loans, Axis Bank levies several fees, including:

• Processing Fees: 1.5%-2%
• Repayment Instruction/Instrument Return Charges: Rs 339 per instance + GST
• Swap Charges (Cheque/Instrument): Rs 500 per instance + GST
• Penal Interest: 24% p.a. (2% monthly) on overdue amounts
• Duplicate Statement Charges: Rs 250 per set + GST
• Duplicate Amortization Schedule Charges: Rs 250 per set + GST
• Credit Information Report Charges: Rs 50 per set + GST
• No Dues Certificate Charges (Duplicate): Rs 50 per set + GST
• Stamp Duty Charges: As per state regulations
• Prepayment/Part-Prepayment Charges: 5% + GST on outstanding principal

Types of Axis Bank Personal Loans
Axis Bank personal loans are designed to address specific financial needs:

Personal Loan for Wedding:

Purpose: To finance wedding expenses
Loan Amount: Rs 50,000 to Rs 40 lakh
Tenure: 1-5 years

Personal Loan for Home Renovation:

Purpose: To finance home renovations, extensions, or improvements
Loan Amount: Up to Rs 40 lakh
Tenure: 1-5 years

Eligibility Criteria
Axis Bank evaluates eligibility based on employment type, age, and income:

• Employment: Includes government (local and central), private company employees, and Public Sector Undertakings. Offers special loans for doctors.
• Age: Minimum 21 years; maximum age at loan maturity is 60 years.
• Income: Rs 15,000 monthly for Axis Bank customers; Rs 25,000 for non-customers.

Documents Required
Applicants for an Axis Bank personal loan need:

• Application Form: Fully completed with recent passport photos.
• KYC Documents: Driving license, passport, Aadhaar, NREGA job card, voter ID, or a letter from National Population Register.
• Birthdate Proof: Birth certificate, PAN, passport, school leaving certificate, Aadhaar, or driving license.
• Signature Proof: Passport, bank verification, or PAN.
• Income Proof: Last two months’ salary slips, 1-year employment proof, and two months bank statements with salary credits.
• All documents must be self-attested.

Axis Bank Customer Support
For queries or support, contact Axis Bank via:

• Toll-Free Numbers: 1-860-419-5555, 1-860-500-5555
• Non-Toll-Free Number: +91 40 67174100

Conclusion
Axis Bank personal loans provide a flexible financial solution with competitive rates, significant loan amounts, and various repayment options, ideal for funding weddings, home renovations, and other personal uses. Understanding the eligibility criteria, required documentation, and application process can facilitate a smooth loan application and effective financial management. Axis Bank’s customer support remains at your service for any assistance or inquiries.