Axis Bank Personal Loan

Axis Bank Personal Loan
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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

01
02
03
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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

01
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
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 29 Nov 2014

Axis Bank Personal Loan Details
Interest Rate (Floating) 15.50%-24% p.a
Processing Fees 1.50% to 2.00% + Service Tax as applicable
Loan Tenure 60 months
Guarantor Requirement 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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News about Axis Bank Personal Loan

  • Axis Bank To Strengthen
    Personal Loan Portfolio

    Axis Bank has decided to strengthen retail credit growth by enhancing its personal loan and credit card portfolios.

    The bank hopes to profit by focusing on unsecured advances given the high returns on these products vis-a-vis secured advances.

    The risk the bank is willing to bear is supported by positive economic growth indicators. They aim to cash-in on creditworthy customers with large personal funding needs thereby enhancing its asset-base while maintaining asset-quality.

    This move also comes on the back of stiff competition in the retail loan segment, which the industry turned to in the wake of stagnant/declining corporate credit growth. While secured advances like home and auto loans were prioritised to bring in business thus far, Axis Bank has zeroed in on opportunities in the personal loans space. Despite a general call to tighten credit disbursal norms, with increased business confidence, it can be assumed other financially sound players will also follow this leading private bank’s initiative to tide over times of slow-growth.

    21st November 2014


Axis Bank Personal Loan Reviews

93 % of our customers would recommend this bank. (263 out of 282) Write Review
Customer Reviews
Page 1 of 14 1 2 3 4 5
  • Validated User
    (0)

    The response when I applied personal loan from axis bank was quite impressive . Due to some personal commitments I have applied . Since I am an existing customer they havent asked any kind of documents. . I am very much happy to avail the services from axis bank that they satisfied my need at my emergency

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

    Availing personal loan from AXIS bank was so great. Services overall is pretty good where the customer service executive did respond on a timely manner and had disbursed the loan at the proper time. However, in terms of interest rate and charges, I felt it could have been bit lesser.

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

    The personal loan services was so clear and simple by AXIS bank. Customer service team was so coordinative and responsive. Interest rate is 15.75% with no processing fees. As my salary account is been linked to AXIS bank, it was easier processing.

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

    AXIS bank provided some preoccupied loan because my salary deposited with them. Through axis bank personal loan services are really prompt and good. I am happy about their services . Rate of interest was very low when compared with other banks. They offered me 15% as rate of interest . Good

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

    Before 3 years I took one personal loan from axis bank . Since I am exisiting customer not much hassle from them in terms of documentation. It would be nice if they work on their terms and conditions to reduce the rate of interest and give some loayalties on existing customers.

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

    " I am holding a personal loan with Axis Bank. The process was very simple, the executives guided me , they gave me the steps and the entire process was smooth. They gave the exact loan amount which I required . The total tenure is 3 years and the customer service offered by them is exemplary. "

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

    Axis bank is very fast in processing as within 3 to 4 days I received loan amount in to my account from the date when I had applied. My salary account is also with Axis bank so they served better during personal loan process. The executives helped me a lot in availing loan and they were cooperative. 18.5% is my rate of interest and I paid EMI for 2 years and yet to complete another two years. EMI amount is 3,000 per month and EMI date is 5th of every month.

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

    My experience of availing a personal loan from AXIS bank two years ago was not that great as they offered me a very high rate of interest around 17.5%. The customer service was also not that great. Whatever they committed didnâ??t happen at the right time. It took around 3 weeks for disbursing my loan. I donâ??t recommend the bank for people looking for low interest rate.

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

    he personal loan with Axis was very good. They provided me with a standard rate of interest which was good. I am having his loan for the past 9 months where in which till now I have never experienced anything negative. Its very good to be with Axis bank.

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    chiranjeevi took a Personal Loan from AXIS BANK Reviewed on
  • Validated User
    (0)

    I found one best thing in axis bank was their response and accuracy towards personal loan. They processed my personal loan application in a quick manner with reasonable interest rate .They explained each and every informations very clear. I am very much happy about their services

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

    The personal loan with Axis was very good. They provided me with a standard rate of interest which was good. I am having his loan for the past 9 months where in which till now I have never experienced anything negative. Its very good to be with Axis bank.

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

    Axis bank was very fast in providing their service. Since I am an existing employee I got my personal loan under corporate offer with less number of documents . I am very much satisfied by their services

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

    Axis bank has fulfilled my requirement for personal loan and whatever I expected they made it. EMI date is fifth of every month and it is quiet comfortable. I am not sure about late fee charges but I have to pay if I skip the payment date. I would appreciate customer service where it is good. I availed personal loan for 5 years and I can pre close the loan at any time without nil charges, post paying one installment. The rate of interest is high so they could reduce on it.

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

    I had availed a personal loan from AXIS bank four months ago. AXIS bank was very responsible and maintained a good communication throughout the process. The processing was very fast and my loan was disbursed within a week time. They offered me a low rate of interest around 15% and they charged me very reasonable processing fee & charges.

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

    I am very much pleased to leave my comments for Axis Bank personal loan , as it offered me an interest rate of 13% . I guess it was an on-going offer and they have charged a flat processing fee of rs 999. I quite happy with them. Another attractive feature of Axis Bank is they have linked this account to my online banking account and its very easy to do a transfer and everything is available under one roof.

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

    The services of Axis bank is very good in terms of personal loan as I sent all my documents online and it was easy and accessible for me. Finally I got my loan in just 20 days. Happy with Axis bank.

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

    Axis bank is giving partial payment option and customers can pre close the loan after six months with nil percentage. Rate of interest 15% is normal like other banks for personal loan. I had bad experience in respect to ECS so I personally visited branch to fix the issues. The executive collected all ECS mandate documents but they did not link it to my account thus I felt some inconvenience but later I sorted out. Therefore, I suggest them to take care of such issues.

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

    I availed one personal loan from axis bank long back . Currently I am paying my emi for the loan . The best part was their pre-closure option. Flexible to customers . Only thing they needs to consider was the rate of interest. It was very high when compared with other banks

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    ravikumar took a Personal Loan from AXIS BANK Reviewed on
  • Validated User
    (0)

    I am very satisfied with Axis bank as I got my personal loan within 4 days.It was very good that I visited the branch only once for applying the loan. But after which the response was very quick and prompt. The executive who came to collect the documents was very professional and informative.Overall I would say that Axis bank is very good.

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

    The main reason why I have taken a loan from Axis Bank is because of the less rate of interest and processing fee. Also they donâ??t charge any foreclosure charges, its an added advantage and they only took a weekâ??s time for process the request. More than all , they did not ask for more documents and they asked for very minimal documents to process the request.

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    venkata took a Personal Loan from AXIS BANK on BankBazaar.com Reviewed on
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