Axis Bank Personal Loan

Axis Bank Personal Loan
 4.0 / 5.0   by 182 users
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Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India. It offers financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Business. Axis bank offer loan for salaried person who has a dream vacation, child's education, home renovation or wedding in your family, you can instantly fulfill your aspirations with Axis Bank Personal Loans.


You’re probably eligible for an Axis Bank Personal Loan if you are

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Axis Bank Personal Loan Minimum Age

At least 21 years old

Axis Bank Personal Loan Maximum Age

Less than 60 years old

Axis Bank Personal Loan Eligible Employment Type

Salaried / Self – Employed
with regular income

Axis Bank Personal Loan Minimum Income

Earn more than the minimum
income required


Your Axis Bank Personal Loan amount eligibility is based on these factors

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02
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Axis Bank Personal Loan Minimum Salary

Minimum income required
Rs. 15,000 per month

Axis Bank Personal Loan Maximum Loan Funded

Maximum allowed personal loan is Rs. 15 lakhs

Axis Bank Personal Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible Axis Bank Personal Loan amount by these steps

01
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Axis Bank Personal Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

“Axis

Choose longer tenure loan up to 60 months


Documentation needed to apply for an Axis Bank Personal Loan

  • 1. Signed application form with photograph
  • 2.Copy of passport/voter ID card/driving license
  • 3. Processing fee cheque
  • 4. Last 3 months bank statement/6 months bank passbook
  • 5. Documentation for salaried applicants:
    • Latest salary slip
    • Current dated salary certificate with the latest Form 16
  • 6. Documentation for self-employed applicants:

    • Latest Bank statement
    • Latest ITR or Form 16

Axis Bank Personal Loan Interest RatesUpdated on 01 Oct 2014

Axis Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 15%-24% p.a
Processing Fees 1.50% to 2.00% + Service Tax as applicable
Loan Tenure 60 months
Guarantor Requirement No guarantor required

About Axis Bank Personal Loan

Axis Bank, the third largest private bank in the country is a bank of choice by many when it comes for personal loans. Head quartered in Mumbai and with a wide network of branches in every nooks and corners of India, Axis bank offers personal loans to fulfill the immediate financial requirements of a wide range of people living in any part of India.

Personal loans offered by Axis bank are flexible with minimal documentation, fast approval and are open for all those who have a secure regular income, irrespective of the purpose of application. Personal loans availed from Axis Bank can be used for any immediate financial needs like children's education, medical emergencies, wedding expenses, home renovation, starting a business or even for closing any other miscellaneous financial liabilities.

Axis Bank offers personal loans for both salaried and self employed individuals. Personal loans from Axis Bank are available from Rs. 10,000 to Rs. 15 lakhs with a flexible tenure ranging between 12 to 60 months.

The bank offers very lucrative interest rates for personal loans while allowing applicants the option of transferring their existing personal loans with other banks to Axis Bank through the balance transfer mechanism.

Why choose Axis Bank Personal Loan?

Axis Bank personal loans not only come with most competitive interest rates, but also a simple loan facilitation process. Axis Bank is the bank of choice when it comes to personal loans for a wide range of loan applicants as it offers intrinsic advantages including:

  • Minimal documentation
  • Simple procedures
  • Quick loan approval

Axis Bank offers personal loans up to a maximum limit of Rs. 15 Lakhs making it suitable for even those seeking a higher quantum of loan. With active bank branches in almost all small towns in India, Axis Bank makes sure that there is a loan centre easily accessible for citizens; even for those who live in the semi urban and rural areas of the country.

Axis Bank has been one of the pioneering banks in embracing technology, allowing loan application and approval through online loan requests. Users can request for a personal loan online without even visiting the bank branch in person and can get the loan approved almost instantly.

Features of Axis Bank Personal Loan

Axis Bank is one of the top personal loan providers in India, as they aim to give personal attention to each loan applicant. Unlike many other banks, Axis Bank makes sure that loan facilitation and approval process for each applicant is fast tracked without any unnecessary delays.


Highest Quantum of Loan: The quantum of personal loan offered by Axis Bank is highest in its class; with an upper limit of Rs 15 Lakhs.


Competitive Interest Rates: Axis bank offers the best in class interest rates with quick loan approval. The bank offers personal loans at a competitive interest rate ranging from 15.5 to 24%.


Zero Prepayment/Foreclosure Charges: Axis Bank offers no prepayment or foreclosure charges for personal loans.


eDGE loyalty Benefits: The bank offers eDGE loyalty points on personal loans which can be redeemed for cash surplus and discounts.


Online Loan Account Facility: Axis Bank offers Statement of Account, loan repayment schedule or interest certificate for all customers through mail.


Multiple Repayment Options: Axis Bank offers a number of options to make EMI payments including Electronic Clearing Services or ECS and Post Dated Cheques.


Dedicated Helpline: For any loan related query, Axis Bank has set up a dedicated helpline for loan services available round the clock at the bank's toll free numbers.


Why apply for Axis Bank Personal Loan on BankBazaar.com?

BankBazaar.com is India's premier financial market place which has an active collaboration with Axis Bank for all its loan products. Loan applicants can use BankBazaar.com’s Online Loan Calculator Tool to apply for a personal loan with Axis Bank sitting at the comfort of their homes offices.

The Loan Calculator Tool offered by BankBazaar.com is a one-stop-online shop offering the following services:


Eligibility Check: It checks for your personal loan eligibility with Axis Bank and instantly shows the results in just the click of a button.


Instant Quotes: The eligible loan applicants are offered instant personal loan quotes customized as per their profile and with a discounted interest rate.


Real Time Loan Comparison: BankBazaar.com offers a simple online personal loan comparison tool allowing users to compare the loan offers of various banks. Applicants can also browse through the reviews and feedback of successful personal loan applicants to know the pros and cons of the each product and institution.


Instant e-Approval: The applicant gets an instant e-approval after successfully submitting his or her loan application.


Assured Privacy: All applications submitted to BankBazaar.com are sent electronically to the concerned Axis Bank department assuring complete privacy and transparency.


How to apply for an Axis Bank Personal Loan on BankBazaar.com?

Applying for an Axis Bank Personal Loan at BankBazaar.com involves three simple steps.

Step 1: The applicant should fill the personal loan eligibility form available online with required personal data.


Step 2: Once the basic details along with the loan amount and tenure are submitted, the tool instantly checks for your loan eligibility and displays various personalized loan options.


Step 3: You can now compare the various personal loan options offered and apply for the best suitable plan according to your eligibility and tenure in one click.


Step 4: You receive an instant e-approval from BankBazaar.com based on the details you have entered.


Your application is then electronically sent to your nearest Axis Bank branch by Bank Bazaar.com. The concerned bank loan department gets in touch you applicant for further process like submission of original documents and signing loan agreement. Users can also check the status of their loan application through SMS alters as well as emails sent automatically by BankBazaar.com.

Axis Bank Personal Loan Interest Rates

Like any other bank, Axis Bank Personal Loan is floating and is subject to market fluctuations. The bank changes its personal loan interest rates from time to time as per its discretion. The current interest rates charged by the bank ranges between 15.50% and 24%.

The actual interest rate as applicable for each applicant depends on his/her nature of job (whether you are a Self Employed Professional (SEP), Self Employed Non Professional (SENP) or salaried and factors like age, years in service and CIBIL score. The lower the risk involved for the bank in lending you, the lesser will be the interest rate charged.


The current interest rates and other charges of the bank are as below:

Rate of Interest 15.50% to 24% ( varies with the nature of job of the applicant and monthly income )
Loan Processing Charges 1.50% to 2.00% + Service Tax as applicable
Prepayment/ Forclosure Charges Nil
CIBIL Report Issuance Charges Rs. 50/- per instance per set+ service tax as applicable
Duplicate Statement Issuance Charge Rs 250 per instance + Service Tax as applicable
Cheque Bounce Charges Rs. 500 per cheque bounce + Service Tax as applicable

Axis Bank Personal Loan Eligibility

Axis Bank offers personal loans ranging from Rs.1 lakh to Rs. 15 lakhs, to all applicants fulfilling the basic eligibility criteria as below:

Eligibility Criteria for Salaried Individuals:

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 58 years
  • Minimum Net Monthly Income: Rs 15,000
  • Loan Amount Offered: Rs 1 lakh to Rs. 15 Lakhs
  • Minimum Service Period With Current Employer: One Year

Eligibility Criteria for Self Employed Individuals:

  • Minimum age of applicant: 24 years
  • Maximum age of applicant at loan maturity: 65 years
  • Minimum Net Annual Income: Rs 2, 00,000
  • Loan Amount Offered: Rs 1 lakh to Rs. 15 lakh
  • Minimum Work Experience in Current Business/Profession: Three Years

Besides this, the CIBIL score of the applicant plays a major role in the loan application approval.

How to calculate EMI for Axis Bank Personal Loans

Calculating EMI manually can be a tough task with a complicated formula. From the loan amount to the tenure of loan and interest rates, each aspect plays an important role in deciding the EMI to be paid each month by the applicant.

EMI Calculations Made Easy:

The best way to calculate EMI is by using the Personal Loan EMI Calculator provided by BankBazaar.com. Users simply need to add the amount of their personal loan, tenure and rate of interest. The EMI calculator then automatically calculates your EMI and provides the result instantly.

Axis Bank Personal Loan FAQs

  1. What is the best way to apply for Axis Bank personal Loan?

  2. The best way to apply for Axis Bank Personal Loan is by using the online loan application tool at BankBazaar.com. It offers personal loan quote in seconds so that you can assess your loan eligibility sitting at the comfort of your home or office.

  3. What is the minimum and maximum amount of personal loan that I can get from Axis Bank?

  4. Axis Bank offers personal loans ranging from a minimum amount of Rs. 10,000 to a maximum amount of Rs. 15 lakhs. Your eligible loan amount depends on your age, monthly income and the nature of your job.

  5. What is the maximum tenure for which I can avail a personal loan from Axis Bank?

  6. Axis bank offers a flexible tenure for its personal loans ranging from 12 to 60 months.

  7. Is BankBazaar.com Personal Loan Tool free?

  8. Yes, BankBazaar.com loan calculator tool is totally free and the portal does not charge any fee for its services from members. Applying for Axis Bank Personal Loan through BankBazaar.com also does not involve any additional charges.

  9. Can I track my loan application?

  10. BankBazaar.com offers loan applicants active tracking tool through both email and SMS allowing users to track daily updates of their loan application.

  11. How can I calculate my EMI amount for my personal loan?

  12. BankBazaar.com has developed a unique EMI calculator tool that offers EMI breakup for all loans. All you need to do is to enter the preferred loan amount and tenure. The tool calculates the EMI based on the applicable rate of interest.

  13. Is my Data Safe with BankBazaar.com?

  14. Yes of course. BankBazaar.com is India’s premier financial market place and takes utmost care in ensuring the all data is sent in electronic form with high level of encryption. BankBazaar.com does not share your data with any third party other than the financial institution.

  15. How many days will it take to receive the loan amount after applying with BankBazaar.com? Is there any other procedures?

  16. Usually it takes 48 hours, but may vary from case to case. BankBazaar.com will instantly submit your loan application to your nearest Axis Bank in an electronic format. A representative from the branch gets in touch with you for collecting original documents from you. The bank will also check your CIBIL score and approves the loan application. You will also have to sign a loan agreement with the bank.

  17. How it is more beneficial to apply through BankBazaar.com than to apply directly with the bank’s website?

  18. BankBazaar.com offers a unique EMI calculator tool and online submission with which you can understand your loan eligibility, applicable EMI and thereby apply online without visiting the branch. Axis Bank’s website also offers e-approval of loan, but BankBazaar.com being a premier banking partner with tie ups with all leading Indian banks and NBFCs, can get you the lowest and the best deals on personal loans.


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Axis Bank Personal Loan Reviews

95 % of our customers would recommend this bank. (173 out of 182) Write Review
Customer Reviews
Page 1 of 10 1 2 3 4 5
  • Validated User
    (0)

    I got this personal loan from axis bank before 3 years. My salary credited into axis bank because of which they offered me loan earlier. Quite high rate of interest. Its almost 16% they offered for me. Overall good not bad

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  • Validated User
    (0)

    Hassle free. Each and every process was handled very perfect in axis bank for my personal loan application. Quite competitive interest rates compared with other banks however I have expected much more lesser than what they provided right now . They asked only relevant documents for my loan

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  • Validated User
    (0)

    I had applied for a personal loan online. Someone from AXIS bank came to my place and collected my documents. They have committed one week of processing and I am currently awaiting the loan from the bank. I am satisfied with the processing fee & charges however the rate of interest is very high.

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  • Validated User
    (0)

    I have got my personal loan from axis bank . I have got good interest rates compared with other banks. The best part was they dont have any preclosure charges and part payment facility was also there. Response was good

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  • Validated User
    (0)

    Axis Bank personal loan service is very good, The executives of Axis Bank provides accurate information, they are provide the information upfront, whether we are eligible or not . Even before submitting the application, based on my profile they will verify and provide the right information whether I am eligible in the first place, if I am eligible how much I can avail.

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  • Validated User
    (0)

    It was in the month of April I have approached Axis Bank for a personal loan, the most exciting part about Axis bankâ??s personal loan is the principle repayment option, where I can make an overpayment whenever I want and on top of that there is no early repayment charge. The only drawback with Axis bank is, they are rejected the customer application without a valid reason and I got to know this is happening with other banks as well.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I got my personal loan from axis bank for 14% which was comparitively less than other banks. They provided accurate informations to me wherein I will able to understand the process and no extra charges from them . They asked me only relevant documents . Overall I got my right bank for my need

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  • Validated User
    (0)

    I had a great experience with the Axis Bank when i applied for the personal loan. The processing and the documentation was very simple and it was transparent. The customer service executive are very friendly in approach and i got the loan amount disbursed in 15-20 days.

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  • Validated User
    (1)

    I had availed a personal loan from AXIS bank in the month of Apr'2013. It was very easy for me to avail the loan as I was an employee of AXIS bank at that time. The documentation was very simple and some of the documents were never requested as I am an employee of the bank. The processing was much faster and my loan was disbursed on the third day of my application at a rate of interest of 13%.

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  • Validated User
    (1)

    I availed one personal loan from axis bank with lots of discrepancies. Initially I have selected axis bank for their customer service but whereas they are not upto the mark now. They offered me 16% interest rate when at the time I have applied . Once I have signed up the application they told me it was 20% which was quite contradictory. Entire banking system should be changed and should understand customer requirment

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  • Validated User
    (1)

    Axis Bank is the best bank to bank with , as I have taken a personal loan with Axis Bank, the entire process was completed with in 6 days time. The loan amount was approved and it was credited to my account on time. There was hidden cost added to my EMI, its quite transparent. All have been charged is just 2500, as a processing fee and I have never to worry about my payment as its been deducted from my account automatically.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (2)

    As my salary account is with AXIS bank, I approached AXIS bank for personal loan. Documentation process is quite complicated where they did asked for many documents. Interest rate is 13% which is quite higher with 0.5% of personal loan. Customer service team did a good job.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Axis bank personal loan since i am having my salary account with them i got loan easily. Interest rate was 18% it was nominal, i got loan approval in 4 days after submitting the documents the process was very quick, they have good option for pre closure payment with less charges.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have personal loan with Axis bank it was quite easy process the time taken was very less to approve the loan. Interest rate was 16% it was average but best part is partial payment facility available and their no pre closure charges which is excellent. Processing fee was 1.2% it was quite less when compare to other bank.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I have applied for a personal loan through Axis bank, I did not take the loan through them, though. They ask for too many and irrelevant documents as in my case they asked for permanent house sales deed which is certainly not required. They have declined my application, as I was unable to provide the property deeds.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Awesome
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    AJAY SHANKAR RANE SHANKAR RANE, mumbai
    Recommend Recommended by user
    Validated User
    (1)

    Axis Bank personal loan it was really a great experience i request for two lakhs but the surprise was that they offered me for three lakhs. The processing and the documentation was very simple and transparent and i got the loan amount disbursed in a weeks time.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Axis Bank personal loan good thing is they offered best interest rate in the market, the experience was great, the time taken to process the loan is awesome, since i have my salary account with them it was more comfortable in terms of documentation. Best advantage is their is no pre closure charges, i can close my loan amount at any time.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I am holding a salary account with the Axis Bank for the past one and half years and i have salary of 1.5 lakhs credited into the account. When i applied for the personal loan for 5 lakhs but the i got the call from the executives saying that i am not eligible for that loan amount.One suggestion is that when they reject the loan please let the customer know the actual reason for the rejection.

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    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a good experience of availing a personal loan from AXIS bank two years ago. The loan offer, rate of interest & tenure was good and the best part is no pre-closure charges at all. There was a slight delay in processing and my loan was disbursed within 21 days of time. The loan amount was huge with a minimum rate of interest and a nominal one time processing fee. I would suggest the bank to speed up the processing. I would say AXIS bank is much better than other private banks.

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  • Validated User
    (0)

    Its been a year since, I am holding a personal loan with Axis Bank. the best part about Axis Bank is, there is no foreclosure charge, customer is allowed to pay how much ever he wants and whenever he wants. One thing which they have to work on is, the processing time, they take too much of time to process the application.

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