Axis Bank Personal Loan

Axis Bank Personal Loan
 4.0 / 5.0   by 239 users
Used this product? Write a review >>

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

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

01
02
03
04
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

01
02
03
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
02
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 31 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.


Personal Loans from Top Banks
Personal Loans in Top Cities
Personal Loans By Bank
Personal Loans by City

News about Axis Bank Personal Loan


Axis Bank Personal Loan Reviews

95 % of our customers would recommend this bank. (228 out of 239) Write Review
Customer Reviews
Page 1 of 12 1 2 3 4 5
  • Validated User
    (0)

    It was a fantastic experience of availing a personal loan from AXIS bank four months ago. They committed one week for processinng and they disbursed my loan within the committed time. Also they offered me the lowest rate of interest around 13.99% as I am working in a corporate company. I feel the rate of interest is much better than other banks.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Services is Ok, Once I did applied my personal loan with AXIS bank but its got rejected. due to my cibil score. Even I informed them I have cibil issues in my application hence they ask me to submit all required documents atlast they revert me as my application got closed due to cibil score. It would be better if they provide the information before itself.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK Reviewed on
  • Validated User
    (0)

    I had availed a personal loan from AXIS bank seven months ago. It was a pre-approved loan for an amount of rs60000 and the process went very smoothly. There was no much documentation required. They have collected all the required documents one shot and they disbursed my loan within 2 days of time. They offered me a better rate of interest around 14%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Personal loan with Axis bank they did everything on behalf of me the executive came and collected the documents and got the loan approval. Even for agreement copy they came to my place and got my signature. Loan approval was done in 3 days. Interest rate was bit high it was 18%. I would suggest they need to improvise on rate of interest and response part.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have a banking relationship with AXIS bank for more than 15 years and that was the main reason I approached them for personal loan. Processing was easier and the loan amount disbursed was quite less and no proper explanation provided. It was a competitive interest rate offered.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The services was really good and great with AXIS bank in terms of personal loan. Processing is so easier and the interest rate is 10.15% charged. It is around 6000 which was deducted including insurance. There is partial payment option where there is no charges for pre closure.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had availed a personal loan from AXIS bank last month. AXIS bank is so good and it was very easy for me to avail the loan. The sales person came to my house directly and collected my documents. Only once I visited the branch for signing the documents. Rest everything was taken care by the sales executive who collected my documents. All my questions were answered properly before I ask the questions. I would recommend AXIS bank 100% because they fulfilled all my requirments. Best part is no pre-closure charges and the part payment is applicable.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have taken a personal loan of rs5 lakhs from AXIS bank in the month of Apr'2014. It was very easy for me to avail the loan from AXIS bank as I was holding a salary account for the past 5 years. The documentation and other processes are very easy. Also my loan was disbursed within 3 days of time. They offered me an interest rate of 17% which was quite high. I am currently looking for a balance tranfer to reduce the rate of interest.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I would call this Axis Bank as the Best bank, as it has offered the best deal for me with excellent features. To start with , they have sanctioned a loan amount of 2 lakhs with the least interest rate of 14.75% and with a very minimal processing fee of 0.90% for a maximum tenure of 5 years. Further more , one of the greatest feature is, I am allowed to do a part payment after 6 months without any charges and this is the best deal what I have ever got and as I am really impressed with all these features I have referred couple of friends so that even they will get benefited out of this scheme.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I felt the interest rate offered by AXIS bank for personal loan which was quite higher around 13% which could be lesser. Processing fees quite lesser around 2.5%. I liked the easiness of the processing as well as knowledgeable customer service team which was there.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have applied for personal loan with Axis Bank. The executives of Axis Bank were able to explain things in a easy and in a understandable way so that even a lay man can understand their terminology. The best part about Axis is the processing fee which is 2%. One of the greatest advantage or the feature is prepayment a customer can pay how much he wants and when ever he wants without any foreclosure charges.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I recently approached Axis bank for personal loan but so far I did not get any status updates from bank. I am not much satisfied with the executive because the executive was not aware about the required documents . Therefore I suggest executives to be more clear about needed documents and they should not keep on changing KYC. Apart from that I am satisfied with Axis bank.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK Reviewed on
  • Validated User
    (0)

    Actually, with AXIS bank the rate of interest is lower, that was the reason I applied for the personal loan. 12.5% is the interest rate and around 500-1000 as processing fees. There is no pre closure charges. Customer service is really good in providing the services.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Customer service of AXIS bank was too faster in response, services. They did disburse the personal loan within 3 days of time with 17% of interest rate charged. Processing fees is around 3000 which is at higher side. I liked the faster disbursal at the right time provided.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Last month I had availed a personal loan from AXIS bank. It was a great experience to me. They responded very nicely and the processing time was also very short. The documentation was normal as other banks. They have taken only 5 days for processing and my loan of rs4 lakhs was disbursed on time at an interest rate of 13.5%. They have also reduced the processing fee upto 0.5%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Good one
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    PRABHU SHADAKSHARAPPA PUJAR, bangalore
    Recommend Recommended by user
    Validated User
    (0)

    I am holding a personal loan with Axis Bank. The interest rate offered by them was fine and I am quite happy with the processing fee as well. Its basically a on-going loan , I would say no hidden cost being charged. Fortunately, no insurance being added to my loan amount. Overall its a pleasant experience and I have no issues in making the payment as well.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    With AXIS bank, I did apply for the personal loan and got it by last november. However I did close the loan as the rate of interest was quite higher. Customer service was really coordinative and helpful in closure of loan. My suggestion would be if the interest rate can be reduced, it would be fine.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Personal experience with AXIS bank in terms of personal loan is excellent. Interest rate was 18.5% interest rate and 1000 as processing fees. There are no pre closure charges which is a good option. If the interest rate is too less, it would be fine as they are giving discounts to the salary account holders.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I am paying one emi amount for my personal loan from axis bank . Customer service and response was quite good. I activated ecs from my salary account . Every month it was deducted without hassle free. Overall I am very much comfortable with them.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK Reviewed on
  • Validated User
    (1)

    Personal loan with Axis bank they came on committed time explained everything about the product and collected the documents with in 10 days I got loan approval. Interest rate was 18.50% it was very high when compare to other banks. As per their commitment they offered the loan amount. It would be nice if they improvise on rate of interest.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 12 1 2 3 4 5
Contact Us on Mail
Facebook
Thank you for the feedback.
Make a suggestion or report a bug
  • Like us? Spread the word
  • Broadcast your feedback via Facebook Twitter
  • or Cancel
  • View our privacy policy

reTH65gcmBgCJ7k - pingdom check string.