About the bank
There is no full form of Axis Bank and earlier, it was known as UTI Bank. On 2007, the name got changed to Axis Bank to have its own brand and identity. Now, it is the third largest private bank in India with a network of over 2400 branches and over 12,900 ATMs across India. The bank began its operations in 1994 and was promoted by top insurance companies in the country.
Axis Bank Personal Loans
If you are going through any financial calamity at any point of your life, whether it’s a financial requirement for consumer durables or the immediate need for a quick payment, then applying for a personal loan is the best available option to meet your needs for immediate funds. Axis bank personal loan is very exclusive and generally favored personal loan facility. Axis bank offers the most flexible personal loans as per the requirements and needs of the borrowing individuals. You can easily finance funds for home renovation, wedding, or any other financial emergencies at best interest rates with the help of a personal loan from Axis bank. Apply online for axis bank personal loan at Afinoz and get a step closure to your dreams and goals.
Interest Rate & Charges of Axis Bank
|Axis Bank Personal loan Interest Rates, 2019|
|Axis Bank Personal Loan General -Interest Rates||For salaried and self employed 16%-24%|
|Axis Bank Personal Loan Tenure||12 TO 60 MONTHS|
|Axis Bank Personal Loan Processing Fee||Up to 2.00% of the total loan amount + applicable service tax|
|Axis Bank Personal Loan Repayment Period||Minimum- 1 year
Maximum- 5 Years
|Minimum Income||IINR- 15,000 P.M.|
|Axis Bank Personal Loan Amount||Minimum- INR 50,000
Maximum- INR 15 Lakh
Special Note: Rates are subject to periodic change. Personal loan interest rates in Axis Bank and other fees and charges are subject to regular review and can vary with each customer. Axis Bank Personal loan interest rates can differ depending on your credit worthiness and other factors. The final interest rate will be based on different criteria including the bank’s internal policies and applicable rates at the time of approval.
Eligibility Criteria For Axis Bank Personal Loan
Axis Bank Personal Loan Eligibility Criteria
The borrower needs to fulfill following axis bank eligibility criteria while applying for axis bank personal loan.
- Individuals who can avail personal loans from axis bank are:
- Salaried employees/salaried doctors/employees of public and private limited companies.
- Public and private limited companies.
- Government sector employees including PSU (Public sector Undertakings) and central and local bodies.
- Age: Minimum age required for axis bank personal loan application is 21 years. While the maximum age is 60 years at the time of loan maturity.
- Income: Minimum net monthly income required is Rs.15000 per month.
- Loan Amount: The maximum loan amount available is 15 lakhs.
- Salaried individuals must have completed 2 years of service in the same organization.
- Axis bank provides personal loans only at some given locations and the eligibility for a personal loan differs based on those locations (Delhi, Noida, Gurugram, Ghaziabad, Faridabad, Banglore, Chennai, Mumbai, Hyderabad, pune, Ahmadabad, Kolkata and other locations).
- Eligibility and EMI calculator: Now, you can easily evaluate and calculate your axis bank personal loan eligibility and axis bank personal loan EMI using utility tools like personal loan eligibility calculator and personal loan EMI calculator at afinoz.com. This calculator will help you to determine your EMI outflow every month including the interest rate you will need to pay. Using the calculator at Afinoz.com is free, easy and simple.
- CIBIL score: Credit score is an important factor for approval of your loan. Usually, an applicant’s credit worthiness is determined by evaluating his credit score i.e. CIBIL score. The loan application of the applicants having poor credit score may get rejected. It’s always advisable to keep on updating your credit score every now and then. If you have bad credit score and somehow, your loan application is approved, then you might be asked to pay a high-interest rate and be offered many unfavorable terms and conditions on your loan.
Documents Required for Axis Bank Personal Loan
The list of documents required while applying for Personal loan from Axis bank are:
- Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months)
- Latest salary slip/current dated salary certificate with the latest Form 16
- 6 months bank statement
- Signature verification proof
Features and Benefits of Axis Bank Personal Loan
Axis bank has attractive features and
- Multi-purpose loan (complete flexibility on end use of the loan amount).
- Competitive interest rates: Axis bank provides the best in class interest rates.
- No prepayment charges.
- Zero foreclosure
- Edge loyalty benefits: Axis Bank offers EDGE loyalty points on personal loans
whichcan be redeemedfor cash surplus and discounts.
- Online loan account facility: You can get a statement of account, loan repayment schedule or interest certificate through mail with axis bank online banking.
- Multiple repayment
opt ions: Thereare multiple options to repay your axis bank personal loan EMI’s including Electronic Clearing Services or ECS and post datedcheques.
- Low prepayment charges.
Highest qua ntumof loan: Axis bank offers highest quantumin its class, with maximumloan amount of RS 15 lakh.
- Minimal documentation: To avail loan under axis bank personal loan scheme you need to submit few important documents only.
tenure: Ifyou are taking a personal loan from axis bank, you can repay the loan within 12 to 60 months as per your comfort.
- No collateral or security required:
You are not requiredto pledge any security to avail a personal loan from Axisbank.
- No need
ofany guarantor for getting personalloan from axis bank.
- Balance transfer facility: Axis bank offers
balancetransfer facility through which you can get rid of your existing high interest debt.
Compare Axis Bank personal
loan from other lenders
||Processing Fee||Loan Tenure||Foreclosure Charges|
||12 months to 60 months||2% compounded annually|
|TATA Capital||11.75%||20 Lakh||2.5
||60 Month||3% on Overdue Amount per month + GST|
|Axis Bank||10.99% to 20%||15 Lakh||1.50% to 2.00% + GST||60 Month||2% per month on the overdue installment|
||50 Lakh||upto 2.5 %||60 Month||Allowed after 12 EMI's, 2-4%|
|ICICI Bank||11.25%||30 Lakh||2.25 % + GST||60 Month||24 % p.a on amount outstanding from date of default|
|Aditya Birla||14%-26%||50 Lakh||2% of the loan amount||60 Month||2% per month|
|Indusind Bank||11.25%||25 Lakh||2.5% + GST||60 Month||Rs 150/- plus taxes, Per EMI delay beyond 5 days|
What is Afinoz?
Afinoz.com is India's topmost one-stop financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFC's and mutual fund houses across the entire country and offer an unbiased quotation on financial requirements. You can contact our team to get information or apply for a loan or investment by calling on 0120-411-0376 or by emailing at firstname.lastname@example.org. Afinoz.com provides solutions which are quick, reliable, transparent and confidential without charging any fees to avail any of their services.
Why to apply for Axis Bank Personal Loan with Afinoz.com
Afinoz.com, one of the India's leading personalized financial marketplace has framed a personal loan platform which lets you choose the best personal loan from the options that match your specific needs and most convenient for your personal requirements.
- Instant Approval – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 days.
- Real-time application tracking – Keep track of the application status in real-time with a unique transaction id which is generated at the time of loan application submission. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
- Online eligibility check - Do all your dealings with the bank online. Provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Axis bank for your personal financing.
- Secure Environment - Afinoz.com has a built-in security for your personal information which is stored in a secure environment in our system with your consent. This information then sent to the bank in an encrypted format digitally and is very secured and scripted.
- 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to the bank to discuss the loan specifications with the bankers.
- No third-party agent – Afinoz.com online loan application process is free from any unneeded expenses and delays. One can approach bank online directly without having to involve any agent.
- Free quotations – Get online deals on Axis bank personal loans and free unbiased quote on the best personal loan rates. All you have to do is to select the loan amount you want to borrow and the tenure. You will get a targeted online quote within minutes of application.