Axis Bank Personal Loans

Axis Bank is the third largest private-sector banking institution in India. Its headquarters are located in Mumbai. Axis Bank has an impressive network of over 3,500 domestic branches and 13,900 ATMs across the country. Such an extensive network boasts of the dominance of Axis Bank in the banking industry.

Axis bank has a significant international presence with overseas branches in Singapore, Hong Kong, Dubai, Shanghai, and Colombo, and representative offices at Dubai, Abu Dhabi, Dhaka, and Sharjah. The bank offers an impressive array of financial products and services to individual customers, large corporations, MSME, agriculture, and retail businesses.

Axis Bank Personal Loan

Axis Bank provides personal loans to its customers at very affordable rates of interest, and other benefits such as hassle-free documentation process, reasonable repayment options, top-up loan facilities, and instant loan approvals. mymoneykarma gives you all the information you need on Axis Bank personal loans.

Benefits of Axis Bank Personal Loans

Axis Bank personal loans are loaded with customer-centric benefits and features. Here are a few highlights of Axis Bank personal loans.

1. Significant loan amounts ranging from a minimum of Rs 50,000 to a maximum of Rs 15 lakhs. The loan amount depends on the applicant's repayment capability, credit score, credit history, and yearly income.

2. Long loan tenures ranging from a minimum of 12 months and a maximum period of 60 months.

3. Attractive interest rates ranging between 11.25% – 24% p.a.

4. Loans available for salaried individuals, public and private company employees, and government employees.

5. Special offers if the applicant is an existing customer of Axis Bank.

6. Various feasible repayment channels such as NEFT, post-dated cheques, and online banking.

7. Simplified loan application and approval process with minimal documentation.

8. Dedicated 24/7 customer service desk for query resolution.

Here is a summary of all the information regarding Axis Bank personal loans.

Interest Rate	11.25% – 24%
Minimum Loan Amount	Rs 50,000
Maximum Loan Amount	Rs 15 lakhs
Minimum Repayment Tenure	12 months
Maximum Repayment Tenure	60 months

Types of Axis Bank Personal Loans

Axis Bank offers only one type of personal loan. This loan is suitable for a large pool of customers.

Eligibility Criteria for Axis Bank Personal Loan   

Applicants must meet the following criteria to get a personal loan from Axis Bank.

1. Minimum income of Rs 15,000 per month

2. Sound repayment capability

3. Competetive credit score

4. Minimum age of 21 years

5. Maximum age of 60 years

6. Must belong to the salaried class of public and private company employees, government sector employees, employees of public sector undertakings, government and other public bodies.     

 

Best Personal Loan Interest Rates 2022

The interest rates of personal loans from other banks are also given below.

Banks	Interest rates
ICICI Bank	11.50% - 16.75%
HDFC Bank	10.99% - 20.00%
SBI	12.50% – 16.60%
Kotak Mahindra Bank	11.00% - 24.00%
Bajaj Finserv	2.00% - 16.00%
Standard Chartered	10.99% - 16%
Fullerton India	12% - 25%
IndusInd Bank	10%-30.50%
CitiBank	10.99% - 18%
IDBI	12.45% - 13.50%
IDFC Bank	11.69% - 15.00%
PNB	11.65% - 12%
YES Bank	10.75% - 16.99%
Andhra Bank	11.55% - 14%
RBL Bank	14.5% - 23%
Canara Bank	13.5% - 14.5%
Tata Capital	11.75% - 19.00%
Bank of Baroda	11.05% - 11.6%

Documents Required for Axis Bank Personal Loan

Applicants need to submit the following documents while applying for an Axis Bank personal loan.

1. A filled loan application form with necessary details such as income, occupational details, and personal information.

2. Two copies of recent passport sized photographs

3. Copies of the applicant's PAN card and Aadhaar card.

4. Copies of income proof such as salary slips of the previous three months, bank statements of the last three months, and a copy of Form 16.

5. Copies of residence proof such as telephone bills, electricity bills, or rental agreement attested by the applicant.

How to Apply for Axis Bank Personal Loan Online

Customers can directly apply for Axis Bank personal loans online by visiting the Axis Bank website. They just need to follow the on-screen instructions from the personal loan section, download the loan application form, and submit the filled form and upload the necessary documents on to the portal. The bank then evaluates the applicant profiles and deposits the loan amount in the applicant's account upon the approval of the loan.

How to Apply for Axis Bank Personal Loan Offline

Applicants can also directly walk into the personal loan centers of Axis Bank along with all required documents. They need to fill up the Axis Bank personal loan application form received at the bank and submit it with the documentation. The loan is approved within a few working days. Use a personal loan EMI calculator to know your obligations if you are applying offline.

Related Articles:

• Change Your Address, Email ID & Mobile Number in Your Axis Bank Account
• Axis Bank Home Loan
• Axis Bank Gold Loan
• Axis Bank Business Loans
• Axis Bank Car Loans
• Axis Loan Against Property

Frequently Asked Questions

1. What is the duration for an Axis Bank loan application approval?

Axis Bank notifies the applicants of the loan approval within a maximum of 30 working days from the date of the application. With mymoneykarma, get your loan approved within 24 hours.

2. What is the Axis Bank personal loan amount?

Axis bank provides personal loans with a minimum loan amount of Rs 50,000 and a maximum amount of Rs 15 lakhs.

3. What is the rate of interest on the Axis Bank personal loan?

Axis Bank offers reasonable interest rates ranging between 11.25% – 24% p.a.

4. Is prepayment of loan allowed with Axis Bank personal loan?

Yes, Axis Bank personal loan provides the facility of pre-closure of the loan before the completion of the loan tenure.

5. Does the Axis Bank personal loan have any pre-closure charges?

Axis Bank personal loans do not have any pre-closure fees or charges.

6. What are the other fees associated with Axis Bank personal loans?

Here is a list of fees associated with Axis Bank personal loans.

Loan Processing Charges	1.5% - 2% of the loan amount + GST
Foreclosure Charges	nil
Pre-payment or Part-payment charges	nil
Renewal Processing Fees	nil
Charges for late payment of Loan amount	24% of the loan amount
Stamp Duty & other Statutory Charges	As applicable by state laws
Re-Issuance of photocopy of loan agreement/documents	Rs 250 + GST
Duplicate NOC	Rs 500 + GST
Credit Information Companies (CICs) Report Issuance Charges	Rs 50 + GST
Duplicate Amortization schedule issuance charges	Rs 250 + GST