Axis Bank Personal Loan
Axis Bank is India’s third largest private sector bank, formerly known as UTI Bank (Unit Trust of India). The bank offers the entire spectrum of financial services to its customers. Axis Bank Limited is one of the first new generation private sector banks in India to have begun operations in 1994.
| Name | Axis Bank Limited[1] |
| Type | Private Sector Bank |
| Industry | Finance |
| Headquarters | Mumbai, Maharashtra, India |
| Established | 3 December 1993 |
| CEO | Amitabh Chaudhary |
| Chairperson | Shri Rakesh Makhija |
| Website | www.axisbank.com |
Axis Bank Personal Loan
Axis Bank offers personal loan amount up to 15 lakhs with less paperwork and fastest disbursal of the amount into your account. Enjoy hassle-free loan process and easy loan transfers in Axis Bank. The Bank offers personal loan at affordable and fixed rate of interest of 10.25% p.a. onwards with flexible loan repayment tenure.
Also Read: Personal Loan Interest Rates in Comparison to Banks
What do you mean by Personal Loan?
Personal loan is a loan that is used for your personal use. You can use it to fund any expense including education, a wedding, a trip, home renovation, medical expense etc. Personal loan does not require any collateral or security and can be obtained with minimal documentation. Just like most loans, however, it must be repaid in monthly instalments.
What are the Benefits and Features of Personal Loan?
There are various benefits of personal loan. Some of the top benefits of personal loan are:
- Instant Approval
- No Restriction on Fund Usage
- No need for a Collateral
- Flexible tenure
- Online Services
- Versatility
- Minimum Documentation and Easy to Avail
- Fixed Interest
Features and Benefits of Availing Personal Loan from Axis Bank
- Minimal Documentation
- Hassle-free application process
- Balance Transfer
- Flexible loan repayment tenure
- EMI facility
Types of Axis Bank Personal Loan
- Personal Loan for Holiday
Axis Bank offers Personal Loan for Holidays to its customers. Personal Loan for Holiday allows you to plan the exotic vacation with quick approval and limited documentation.
- Personal Loan for Renovation
Axis Bank offers Personal Loan for Renovation of your home. If you are looking forward to renovate your home and to give it a new look, then no need to worry avail Personal Loan for Renovation and make your dream come true. You can quickly avail finance for home improvement and renovation.
- Personal Loan for Wedding
With an Axis Bank Personal Loan for Wedding, you can make the event and occasion to remember.
Interest Rate, Loan Amount and Other Charges
| Particulars | Details |
| Interest Rate | 10.25% p.a. onwards |
| Loan Amount | Up to Rs 15 lakhs |
| Loan Repayment Tenure | Up to 5 years |
| Processing Fees | Up to 2% of the loan amount |
| Prepayment/ Foreclosure Charges | 2% to 5% + GST |
| Penal Interest | 24% per annum |
| Late Payment Fee | 2% of the overdue amount per month |
Eligibility Criteria
- Minimum 21 years of age
- Maximum age limit should be 60 years at the time of loan maturity
- Salaried Employees
- One’s minimum net monthly income should be Rs 15,000
Documents Required
- Dully filled application form
- ID proof
- Address Proof
- Passport sized photographs
- Bank statement
- Signature proof
- KYC documents
- Other essential documents
EMI Calculator
Avail Personal Loan from Axis Bank and make your dream into real. To check your eligibility you can use Axis Bank’s Personal Loan EMI Calculator. Calculate your monthly instalments before applying for a loan and have a definite estimate of your monthly payments well in advance. To calculate your EMI is very easy and simple all you need is to fill in the required details such as loan amount, tenure, interest rate, processing fee and you will get the result instantly.
FAQs
1. What is a Personal Loan?
Ans: Personal loan is a loan that is used for your personal use. You can use it to fund any expense including education, a wedding, a trip, home renovation, medical expense etc.
2. What should be the minimum salary to avail personal loan from Axis Bank?
Ans: Applicant’s net monthly income should be 15,000 to avail a loan from Axis Bank.
3. What is the minimum age criteria to apply for Personal Loan?
Ans: The applicant must be between the ages of 21 to 60 to apply for a personal loan.
4. Are self-employed individuals eligible for a Personal Loan?
Ans: Yes, self-employed individuals are also eligible for personal loan.
5. How to check the eligibility for Personal Loan?
Ans: To check the eligibility you can use Axis Bank’s Personal Loan EMI Calculator at the Bank’s official website.
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