Products
Investing
Resources
Support
When you are short on funds and can’t meet your financial obligations, financial assistance can come in handy. Axis Bank endeavours to provide the best personal loan offers at competitive interest rates to its customers. To get a step closer to your dreams, apply for an Axis Bank personal loan at reasonable interest rates.
Personal loans from Axis Bank are processed quickly. Personal loans can be used for a wide range of purposes. They come in handy when you’re planning a vacation, upgrading your home or preparing a dream wedding for yourself or a loved one. You don’t have to put off anything on your bucket list any longer! Axis Bank offers personal loans ranging from INR 50,000 to INR 15,00,000 with quick approval and minimal documentation. You can also transfer your current high-interest Personal Loan to Axis Bank through Balance Transfer. Turn your aspirations into reality with a swift approval on personal loans by being familiar with Axis Bank personal loan requirements.
When you apply for a personal loan from Axis Bank, you unlock an array of features. Before applying for a personal loan you must get familiar with these features in advance to determine what deal you are going to get.
You have to cope with below depicted Axis Bank personal loan eligibility criteria to avail a personal loan with utmost ease:
| Category | Applicable Charges |
| Personal Loan Interest Rate | 12% to 21% |
| Repayment instruction or/ Instrument return charges | INR 339 per instance in addition to GST as applicable |
| Swap charges applicable for Cheque and other Instrument | INR 500 per instance in addition to GST as applicable |
| Penal Interest | 24 percent per annum ( 2 percent on monthly basis over the overdue instalment) |
| Issuance of Duplicate Statement | INR 250 per instance in addition to GST as applicable. |
| Issuance of Duplicate Amortisation schedule | INR 250 per instance in addition to GST as applicable. |
| Charges levied on the issuance of report from Credit Information Companies (CICs) | INR 50 per instance in addition to GST as applicable. |
| Charges levied on the generation of duplicate No Dues Certificate | INR 50 per instance in addition to GST as applicable. |
| Stamp Duty Charges | Based upon State Stamp Act |
| Foreclosure Charges | A foreclosure charge is levied on the outstanding loan amount based upon remaining tenure.
|
You need to be prepared with following documents beforehand to access the uninterrupted personal loan application procedure:
| Voter ID Card | Job Card |
| Passport | PAN Card |
| Driving Licence | Aadhaar Card |
| Birth Certificate | Passport |
| School Leaving Certificate | Driving Licence |
| Aadhaar Card |
| Passport | Banker’s Verification |
| Pan Card |
| Pay Slip (last two months) | Employment proof |
| Bank Statement depicting salary credits (last two months) |
The interest rate has a considerable impact on the affordability of a personal loan. The higher the rate of interest, the greater the loan EMI. Many factors influence how the lender and individual banks adjust Axis Bank interest rate for various people. These are the considerations that banks make before making a decision:
One of the most important elements that determines the outcome of your loan application is your income. As the bank must be certain that you will be able to repay the loan, the higher your salary, the more the bank will trust you and the lower the interest rate charged.
Before approving your loan application, banks or NBFCs look at your CIBIL score. Your credit score is a three-digit number that represents your creditworthiness. A good credit score indicates that you are responsible with your money and will be able to pay back your debts on time.
A bank’s interest rate will be lower for salaried employees who work for a reputable company. They are thought to have a solid job and will be able to pay their bills on time.
Before settling on an interest rate, banks will look at your payment history as well as your CIBIL score. You will most likely be charged a lesser interest rate if you have been consistent with your payments. Customers that have not defaulted in the previous 12 months are preferred by most banks. Banks typically reject most loan applications or charge exorbitant interest rates submitted by applicants who have a defaulter repayment record.
You are considered a loyal customer if you have availed multiple products or have multiple accounts with your bank. This dedication fosters a personal relationship with your bank which might help you qualify for low-interest Axis Bank personal loans.
Axis Bank personal loan interest rate begins from 10.25 percent per annum. The applicable interest rate is determined based upon certain factors such as credit score, applicant’s age, financial stability, income, job profile, repayment history, and much more. Following table depicts the Axis Bank personal loan interest rate for 36 month of repayment tenure:
| Fixed Rate Loan | 1 Yr MCLR | Spread over 1 year MCLR | Applicable Rate of Interest | Reset Option |
| Personal Loan | 7.35 percent | 4.65 -13.65 percent | 12 to 21 percent | No Reset |
You can count on a personal loan EMI calculator to compute values in fraction of seconds. You just need to choose three values by scrolling the bar from left to right. These are
| Loan amount | Tenure |
| Interest Rate |
The Equated Monthly Instalment will be shown on the screen outright in INR.
| Banks or NBFCs | Personal Loan Interest Rate |
| Axis Bank | 12 percent onwards |
| HDFC Bank | 11 percent to 21 percent |
| SBI | 8.55% onwards |
| PNB | 8.9% to 14.45% percent |
| ICICI Bank | 10.75% to 19% percent |
| Kotak Mahindra Bank | 10.99 percent onwards |
| IndusInd Bank | 6.7 percent onwards |
| IDFC First Bank | 10.49% – 25% percent |
| Bajaj Finserv | 11 percent onwards |
| Tata Capital | 10.99 percent onwards |
You can get in touch with customer care executives by calling on any of the following numbers:
| 1-860-419-5555 | 1-860-500-5555 |
Yes, you can switch to floating rate from the fixed rate during your loan tenure. It will help to avail benefits of lower personal loan interest rates.
Yes, it is the foremost financial product to meet uncertain financial obligations outright. You don't have to pledge collateral to avail a personal loan.
The personal loan repayment period starts from the very next month when the loan amount gets disbursed in the loan account.
Yes, you can get in touch with your loan officer to reduce your loan tenure. Although, you might have to pay increased EMI’s to repay the loan amount in lesser tenure.
You must have a minimum salary of INR 15,000 to avail a personal loan from Axis Bank.
Yes, Axis Bank provides a personal loan at the best rate starting from 10.49 percent per annum.
Axis Bank offers certain benefits on a personal loan such as minimal documentation, quick approval, online KYC, best interest rates, and flexible loan tenure.
Yes, Axis Bank takes the CIBIL score into consideration to determine the applicant's creditworthiness before loan approval.
Axis Bank offers a personal loan amount from INR 15,000 to INR 15,00,000 lakhs based upon applicants' credibility.