Description

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
Prepayment charges Nil
Foreclosure charges Nil

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 benefits from easy loan approval to providing higher loan amount with flexible loan tenure, Axis bank offers its customers the maximum quantum of loan depending upon their requirements, their repayment history and credit score. Here are some features and benefits of Axis personal loan.

  • 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 charges.
  • Edge loyalty benefits: Axis Bank offers EDGE loyalty points on personal loans which can be redeemed for 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 options:There are multiple options to repay your axis bank personal loan EMI’s including Electronic Clearing Services or ECS and post dated cheques.
  • Low prepayment charges.
  • Highest quantum of loan: Axis bank offers highest quantum in its class, with maximum loan amount of RS 15 lakh.
  • Minimal documentation: To avail loan under axis bank personal loan scheme you need to submit few important documents only.
  • Flexible tenure:If you 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 required to pledge any security to avail a personal loan from Axis bank.
  • No need of any guarantor for getting personal loan from axis bank.
  • Balance transfer facility: Axis bank offers balance transfer facility through which you can get rid of your existing high interest debt.

Axis bank personal loan eligibility or axis bank personal loan interest rates can be easily assessed with Afinoz. If there is any query about axis bank personal loan application, you should log on to afinoz.com or call us on 0120-411-0376 or mail us at info@afinoz.com and get all the solutions and axis bank personal loan details.

Compare Axis Bank personal loan from other lenders

Banks Interest Rate Max.Loan Amount Processing Fee Loan Tenure Foreclosure Charges
IIFL 13% 25 Lakh 2%+GST 12 months to 60 months 2% compounded annually
TATA Capital 11.75% 20 Lakh 2.5%+GST 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
HDFC Bank 11.25%-18% 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

Why Afinoz?

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 info@afinoz.com. 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.

FAQs
Q1 What is the best way to apply for an Axis Bank Personal Loan?
You can apply for an Axis Bank Personal Loan, online by visiting our website Afinoz.com. You can also apply for a loan by giving us a call at +918795021552 or emailing us at info@afinoz.com.
Q2 What is the turnaround time (TAT) for deciding an Axis bank Personal Loan application?
Axis Bank usually conveys its decision within 5 working days from the date of receipt of the application, provided the application is complete in all respects.
Q3 What is the minimum and maximum amount of Personal Loan that I can get?
You can get a minimum loan amount of Rs 50,000 to the maximum amount of Rs 15 lakhs from Axis bank. Loan amount is mainly decided by Axis bank by considering the following factors: • Your requirement and eligibility • Your income • Your repayment capacity
Q4 What is the tenure for which I can avail an axis bank Personal loan?
Axis Bank offers a flexible tenure ranging from 12 to 60 months.
Q5 Do I need to pay a processing charge to apply for an Axis Bank Personal Loan?
Yes, Axis bank charges a non-refundable processing fee for every Personal Loan application. To avail an Axis Bank Personal Loan you have to pay 1.5% to 2% of the total loan amount plus service tax as applicable.
Q6 Can I make part-prepayment towards my Axis Bank Personal Loan? Will any charge be applicable?
Yes, you can make a part-prepayment towards your Personal Loan amount. At present, Axis Bank levies no charge for part prepayment.
Q7 Is there any charge for the foreclosure of axis bank personal loan?
Presently, Axis Bank levies no charge for pre-closure of a Personal Loan amount.
Q8 Do I need to provide collateral or security to get Axis Personal loan?
There is no requirement to provide any security or collateral as personal loans are generally considered unsecured loans.
Q9 What are the different options for making my EMI payments?
Individual can repay his/her Axis bank Personal Loan by Standing Instruction (SI), Electronic Clearing Service (ECS) or Post-Dated Cheques (PDCs).
Q10 What are the uses to which I can put the Personal Loan offered by the axis bank?
A Personal Loan from axis bank is type of multi-purpose loan which you can use for both businesses as well as for personal use. You can use the funds for meeting personal expenses like marriage, taking a vacation, renovating the home, maintaining the working capital necessity of your business, meeting any financial emergency, etc.
Q11 How can the Axis Bank Personal Loan be repaid?
The bank allows different repayment facilities through which you can repay your Axis Bank Personal Loan. You can place a Standing Instruction on your savings or current account for debiting the loan EMIs every month or opt for ECS (Electronic Clearing System) mode of repayment. Post-dated cheques can also be submitted for paying the instalments every month.
Q12 Is part prepayment facility available in the perspective of repayment of the loan?
Axis bank allows partial prepayment of the remaining loan. You can make such prepayments whenever you have surplus amount and bring down your interest considerably. Moreover, Axis Bank does not charge any pre-payment to any individuals.
Q13 Is the option of foreclosing the Axis Bank Personal loan allowed under the Personal Loan scheme?
An individual can foreclose his/her personal loan provided that he fulfills the conditions as stated by bank. First of all, you have to clear all the existing dues in respect of the loan. You can also check the outstanding balance of your loan by requesting a foreclosure statement. This statement would illustrate any of your remaining dues which need to be cleared. Once the dues are totally cleared off, the loan can then be foreclosed. There would be no inherent charges when you opt for foreclosing the loan taken.
Q14 How important is my credit score for getting a personal loan from axis bank?
Your credit score is an important criterion for approval of the axis bank online personal loan. The bank determines your creditworthiness by evaluating your CIBIL /EXPERIAN score. It is recommended that you should make constant efforts to improve your credit score and keep on updating the same. If you have a poor credit score, your axis bank personal loan application may get rejected. Even if it gets approved somehow, you may be offered unfavourable terms in comparison to borrowers with excellent credit scores. For more details, you can do a axis bank login or call at the axis bank customer care number.
Q15 For what purpose can I use the axis bank personal loan?
Axis bank personal loan offers the most flexible personal loans as per the requirements and needs of the borrowing individuals. The axis bank online personal loan can be availed pretty much for any genuine credit need of yours including but not limited to wedding expenses, educational expenses, emergency medical needs, travel expenses and so on. You can get a personal loan from axis bank very easily with attractive axis bank personal loan interest rates. For any query about Axis Bank personal loan application, you can log on to afinoz.com or give us a call at 0120-411-0376 or mail us at info@afinoz.com.
Reviews
Raghuvendra Gupta
Invalid date
I have taken a personal loan from the Axis bank through Afinoz for 7 lacs. I got the loan amount within 4 days. The interest rate was comparatively high. The whole application process was easy and hassle-free. I got the loan amount in time.
Pulak Raj
12 Sep 2019
I am holding a personal loan with AXIS BANK, their customer service is up to the mark, they follow up throughout the process to ensure a customer face no problem in the meantime. I had applied for a loan amount of Rs. 3 lac and was offered the same amount. Processing fee is affordable and the processing fee is nominal.
Ketan Choudhary
12 Sep 2019
I have got pre-approved personal loan from Axis Bank. The loan amount was 4lakhs for the tenure of 4 years. Axis bank gives a personal loan at competitive interest rate; rate of interest I was charged was 15.75%. The online loan application process is very smooth and got the loan on time and it was sufficient as well.
Ajit Samal
12 Sep 2019
I have taken a personal loan from AXIS bank. Their rate of interest is a bit higher, however documentation and disbursal process are very smooth. I got the same amount I applied for. Although I took the loan for 4 years, I was told that I can close the loan whenever I wish.
Shivani Sharma
12 Sep 2019
Hi guys, thanks! I have received my personal loan this morning into my account. It was nice experience in applying for a problem-free personal loan from Axis Bank.
Prashant Verma
12 Sep 2019
I applied for a personal loan from Axis bank because I have a salary account with the bank. But I am happy that it was really easy and fast loan; my loan was disbursed in just 2 days without any complications. Although the rate is a bit high, a processing fee is nominal and the loan is offered for a flexible tenure.
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