Axis Bank Personal Loan

Axis Bank Personal Loan
 4.0 / 5.0   by 222 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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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 26 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. (211 out of 222) Write Review
Customer Reviews
Page 1 of 11 1 2 3 4 5
  • 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.

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    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.

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

    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.

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

    I was so fortunate, as I got a positive response from Axis bank for the personal loan. The main attraction was the interest rate which was very less. Second best option, what they have is the foreclosure charges which is not applicable even if the customer makes a lump sum payment and what more.

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

    Excellent and hassle free bank. Approach was quite good from axis bank. They are working according to customer not with product . Even they offered me some preapproval loan also initially . They offered me 17% later on for second loan they offered me around 16% interest rate. I am very happy about the services

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

    Good hassle free bank . Approach was quite good in axis bank. They dont have any clause in terms of areas while approving personal loan . They are determined with person nor with product . Even they offered me preapproval loan also sometimes. Initially they offered me 17% later on for second loan they offered me 16% interest rate. I am very happy about the services

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

    It was very good experience of availing a personal loan from AXIS bank and the services are prompt. The processing with AXIS bank was very fast. The documentation was completed within an hour and my loan was disbursed within 7 days of time. There was slight delay in verification process only. I think the rate of interest was quite good however the processing fee was not waived off.

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

    Through on line, I availed the personal loan from AXIS bank. Interest rate was charged around 17% with no pre closure charges where the closure could be done at any time. I receive on line updation regarding payments on time. I have given my account details to the bank executives. there is no clear picture on the amount which is deducted.

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

    When I did applied for my personal loan with Axis Bank , They given a very good response.they are very prompt in their service, I approached Rs.1 lackh they approved me same amount and the rate of interest what they offered for me is also very low which is only 11% compare to other banks i got a good deal with them.

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

    I did applied my personal loan with AXIS bank on August 2014, They given me a proper response and clear details of my loan processing, Customer service was pretty good they very prompt with their service. I approached Rs.3lackh with them they approved my loan, The rate of interest what they offered for me is only 16.5% compare to other banks i got best deal with them. My amount got disbursed within 10 days.

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

    Customer service was quite good from axis bank when I applied for my personal loan before 11 months . The best part was that they are having 0% preclosure charge. Response and customer service was quite good. Rate of interest was quite better than other banks

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

    I had taken up the personal loan from AXIS bank before a year. I think it was 13.5% interest rate charged with quite nominal processing fees. Partial payment option is available where there is no charges. I get regular intimation regarding EMI payments through SMS.

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

    There are no hidden charges and whatever the executive has committed initially to me , were fulfilled to my satisfaction. Customer service is moderate however I am satisfied. The provided rate is around 14% to 14.5% and processing fee is 1%. According to me the 1% of processing fee is bit high comparing to market. However I am happy about the offer of 0% on pre closing and part payment. I have taken personal loan during 2013 of January, overall my experience is good with Axis bank.

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

    Really great experience with AXIS bank in terms of availing personal loan. There was no much documentation and everything was quick. Rate of interest is quite less and there is part payment option which is the best without any penalty.

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

    It would be easier for axis bank if they track their follow ups till the loan disbursal. Earlier I closed one personal loan from them . I dont find much difference in the interest rate with other banks . All are providing same. They provided very low processing fees

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

    Documentation part of AXIS bank was fantastic where it was completed within short span of time. I had got the personal loan amount within 2 days of time. Interest rate is 16.25% with 2% of the loan amount as the processing fees. One of the good thing with AXIS bank is the pre closure charges which is quite less. The representative is also cooperative in getting this loan.

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

    I applied for personal loan from Axis Bank the processin and the documentation was very quick and it was a very minimum documentation work. The customer service executive explained me about the process in a detail manner. I got the loan amount disbursed with in 5-6 days. I would say it was a hassle free process.

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

    Even AXIS bank did provide the personal loan on time. The interest rate is almost the same like other banks and its competitive. I came to know about the offer through one of my friend and I would appreciate customer service team who was very responsive, transparent.

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

    Axis bank personal loan they need to improvise on processing time. It took more than 45 days to get loan approved I have submitted all the documents on time. It would be better if they provide prompt response. Best part is Interest rate was less when compare to other banks they considered and offered best rate of interest, pre closure facility available..

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

    I had availed a personal loan from AXIS bank couple of months ago. I had applied for the loan online with AXIS bank and they cotacted me within 24 hrs of time. The documenation was very simple & less. The service was very fast and my loan was disbursed within 2 days of time. They offered me a good rate of interest around 12.99%.

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