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Want to Achieve any of the below Goals upto 80% faster?

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Retirement

1st Crore

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

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Axis Bank Personal Loan

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Axis Bank Personal Loan

Aug 1, 2024

7 Mins

Introduction

Axis Bank, one of India's leading private sector banks, offers personal loans with fixed interest rates starting from 11.25% per annum. These loans cater to a wide range of financial needs, with amounts up to Rs 40 lakh and tenures extending up to 7 years.

Additionally, Axis Bank has partnered with Paisabazaar to provide customized personal loans to select customers. Whether you need funds for a wedding, home renovation, or any other personal requirement, Axis Bank’s personal loan options could be an ideal solution.

Key Highlights of Axis Bank Personal Loan

Interest Rate: Starting from 11.25% per annum

Loan Amount: Up to Rs 40 lakh

Tenure: 1-7 years

Minimum Monthly Salary: Rs 15,000 for Axis Bank customers and Rs 25,000 for non-customers

Processing Fees: Up to 2%

Interest Rates

Axis Bank offers personal loan interest rates starting at 11.25% per annum. While the specific factors influencing these rates are not disclosed, common determinants typically include the applicant's credit score, monthly income, and age.

Comparison of Axis Bank Personal Loan Interest Rates with Other Lenders

Here's a comparison of personal loan interest rates offered by Axis Bank and 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

Axis Bank imposes several fees and charges on personal loans, 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% per month) on overdue installment

Duplicate Statement Issuance Charges: Rs 250 per instance per set + GST

Duplicate Amortization Schedule Issuance Charges: Rs 250 per instance per set + GST

Credit Information Companies Report Issuance Charges: Rs 50 per instance per set + GST

No Dues Certificate Generation Charges (Duplicate): Rs 50 per instance per set + GST

Stamp Duty Charges: As per state stamp duty regulations

Prepayment/Part-Prepayment Charges: 5% + GST (as applicable) on the principal outstanding

Types of Axis Bank Personal Loans

Axis Bank offers various types of personal loans tailored to meet specific needs:

Personal Loan for Wedding:

Purpose: To finance wedding-related expenses

Loan Amount: Rs 50,000 to Rs 40 lakh

Tenure: 1-5 years

Personal Loan for Home Renovation:

Purpose: To cover expenses for renovating, extending, or improving existing home property

Loan Amount: Up to Rs 40 lakh

Tenure: 1-5 years

Eligibility Criteria

Axis Bank’s personal loan eligibility criteria are based on the applicant’s job profile, age, and minimum monthly income:

Employment: Government employees (including local and central bodies), private limited company employees, public limited company employees, and Public Sector Undertakings employees are eligible. Additionally, Axis Bank offers personal loans for doctors.

Age: The minimum age requirement is 21 years; the maximum age at the time of loan maturity is 60 years.

Income: Minimum monthly income is Rs 15,000 for Axis Bank customers and Rs 25,000 for non-Axis Bank customers.

Documents Required

To apply for an Axis Bank personal loan, applicants need to submit the following documents:

Application Form: Completely filled with recent passport-sized photographs.

KYC Documents: Driving license, passport, Aadhaar card, job card by NREGA duly signed by a State Government officer, voter ID, or a letter issued by the National Population Register with name and address details.

Proof of Birth Date: Birth certificate, PAN card, passport, school leaving certificate, Aadhaar card, or driving license.

Signature Proof: Passport, bank verification, or PAN card.

Income Proof: Last two months' pay slips, employment proof of one year, and bank statement for the last two months showing salary credits.

All documents should be self-attested.

Axis Bank Customer Care

For any queries or assistance, customers can reach Axis Bank customer care through the following numbers:

Toll-Free Numbers: 1-860-419-5555, 1-860-500-5555

Non-Toll-Free Number: +91 40 67174100

Conclusion

Axis Bank personal loans offer a reliable and flexible solution for individuals seeking financial assistance for various purposes. With competitive interest rates, substantial loan amounts, and multiple tenure options, Axis Bank provides a versatile loan product tailored to meet different financial needs. Whether you require funds for a wedding, home renovation, or any other personal expense, Axis Bank’s personal loan can be a suitable option. By understanding the eligibility criteria, required documents, and the application process, you can seamlessly apply for a personal loan and manage your financial needs effectively. For any assistance, Axis Bank’s customer care is readily available to provide support and answer your queries.

Introduction

Key Highlights of Axis Bank Personal Loan

Interest Rate: Starting from 11.25% per annum

Loan Amount: Up to Rs 40 lakh

Tenure: 1-7 years

Minimum Monthly Salary: Rs 15,000 for Axis Bank customers and Rs 25,000 for non-customers

Processing Fees: Up to 2%

Interest Rates

Comparison of Axis Bank Personal Loan Interest Rates with Other Lenders

Here's a comparison of personal loan interest rates offered by Axis Bank and 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

Axis Bank imposes several fees and charges on personal loans, 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% per month) on overdue installment

Duplicate Statement Issuance Charges: Rs 250 per instance per set + GST

Duplicate Amortization Schedule Issuance Charges: Rs 250 per instance per set + GST

Credit Information Companies Report Issuance Charges: Rs 50 per instance per set + GST

No Dues Certificate Generation Charges (Duplicate): Rs 50 per instance per set + GST

Stamp Duty Charges: As per state stamp duty regulations

Prepayment/Part-Prepayment Charges: 5% + GST (as applicable) on the principal outstanding

Types of Axis Bank Personal Loans

Axis Bank offers various types of personal loans tailored to meet specific needs:

Personal Loan for Wedding:

Purpose: To finance wedding-related expenses

Loan Amount: Rs 50,000 to Rs 40 lakh

Tenure: 1-5 years

Personal Loan for Home Renovation:

Purpose: To cover expenses for renovating, extending, or improving existing home property

Loan Amount: Up to Rs 40 lakh

Tenure: 1-5 years

Eligibility Criteria

Axis Bank’s personal loan eligibility criteria are based on the applicant’s job profile, age, and minimum monthly income:

Age: The minimum age requirement is 21 years; the maximum age at the time of loan maturity is 60 years.

Income: Minimum monthly income is Rs 15,000 for Axis Bank customers and Rs 25,000 for non-Axis Bank customers.

Documents Required

To apply for an Axis Bank personal loan, applicants need to submit the following documents:

Application Form: Completely filled with recent passport-sized photographs.

Proof of Birth Date: Birth certificate, PAN card, passport, school leaving certificate, Aadhaar card, or driving license.

Signature Proof: Passport, bank verification, or PAN card.

Income Proof: Last two months' pay slips, employment proof of one year, and bank statement for the last two months showing salary credits.

All documents should be self-attested.

Axis Bank Customer Care

For any queries or assistance, customers can reach Axis Bank customer care through the following numbers:

Toll-Free Numbers: 1-860-419-5555, 1-860-500-5555

Non-Toll-Free Number: +91 40 67174100

Conclusion

FAQs 🤔

Q1: What is the maximum loan amount offered by Axis Bank for personal loans?

A: Axis Bank offers personal loans up to Rs 40 lakh.

Q2: What is the tenure for Axis Bank personal loans?

A: The tenure for Axis Bank personal loans ranges from 1 to 7 years.

Q3: What are the interest rates for Axis Bank personal loans?

A: Axis Bank personal loan interest rates start from 11.25% per annum.

Q4: What is the minimum monthly salary required to be eligible for an Axis Bank personal loan?

A: The minimum monthly salary required is Rs 15,000 for Axis Bank customers and Rs 25,000 for non-customers.

Q5: Can I prepay my Axis Bank personal loan?

A: Yes, you can prepay your Axis Bank personal loan. However, prepayment charges of 5% plus GST on the principal outstanding amount will apply.

Q6: What are the processing fees for Axis Bank personal loans?

A: The processing fees for Axis Bank personal loans range from 1.5% to 2% of the loan amount.

Q7: What documents are required to apply for an Axis Bank personal loan?

A: Required documents include a completely filled application form, KYC documents, proof of birth date, signature proof, and income proof. All documents should be self-attested.

Q8: How can I contact Axis Bank customer care for personal loan queries?

A: You can contact Axis Bank customer care through their toll-free numbers 1-860-419-5555 and 1-860-500-5555 or the non-toll-free number +91 40 67174100.

Q1: What is the maximum loan amount offered by Axis Bank for personal loans?

A: Axis Bank offers personal loans up to Rs 40 lakh.

Q2: What is the tenure for Axis Bank personal loans?

A: The tenure for Axis Bank personal loans ranges from 1 to 7 years.

Q3: What are the interest rates for Axis Bank personal loans?

A: Axis Bank personal loan interest rates start from 11.25% per annum.

Q4: What is the minimum monthly salary required to be eligible for an Axis Bank personal loan?

A: The minimum monthly salary required is Rs 15,000 for Axis Bank customers and Rs 25,000 for non-customers.

Q5: Can I prepay my Axis Bank personal loan?

A: Yes, you can prepay your Axis Bank personal loan. However, prepayment charges of 5% plus GST on the principal outstanding amount will apply.

Q6: What are the processing fees for Axis Bank personal loans?

A: The processing fees for Axis Bank personal loans range from 1.5% to 2% of the loan amount.

Q7: What documents are required to apply for an Axis Bank personal loan?

A: Required documents include a completely filled application form, KYC documents, proof of birth date, signature proof, and income proof. All documents should be self-attested.

Q8: How can I contact Axis Bank customer care for personal loan queries?

A: You can contact Axis Bank customer care through their toll-free numbers 1-860-419-5555 and 1-860-500-5555 or the non-toll-free number +91 40 67174100.