Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Axis Bank Personal Loan Eligibility is Rated as "Excellent!" by 2532 Users

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    Axis Bank Personal Loan Eligibility

    Particular Salaried Self-Employed
    Age(Min-Max) 21 - 60 years 24 – 65 years
    Minimum Income Rs.15,000 per month (net income) Rs.2 lakh p.a.
    Co-applicant Not mandatory Not mandatory
    Loan Tenure 12 – 60 months -
    Minimum Loan Amount Rs.50,000 -
    Maximum Loan Amount Rs.15 lakh -
    CIBIL Score 750 and above 750 and above

    Whether you want to fund your vacation, pay your child’s tuition fees or renovate your home, personal loans offered by Axis Bank may help you achieve your objectives. With a repayment tenure ranging from 12 to 60 months with competitive interest rates, Axis Bank offers personal loans for up to a maximum of Rs. 15,00,000. What’s more, Axis Bank allows transfer of loans from other banks as well which can come to the rescue of customers who would want to change banks to avail of the benefits offered by Axis Bank. Axis Bank also has a simple approval process with minimal documentation to increase its clientele.

    How To Use Axis Bank Personal Loan Calculator To Determine Your Loan Eligibility?

    You can quickly know if you are eligible for Axis Bank Personal Loan using BankBazaar’s Loan Eligibility tool. All you have to do is enter a few details and the automated tool will promptly show you results. You may also compare different personal loan options available to you based on rate of interest, EMI, processing charges, loan tenure and more.

    Follow the below - mentioned steps to know your loan eligibility:

    1. Go to BankBazaar.com > Click ‘Loan’ (Menu bar at the top) > Select Personal Loan (You will be directed to Loan Eligibility Page)
    2. Select ‘Custom Quotes’ > Select gender > Click ‘Search for personal loan’ > Select city of residence > Press ‘Continue’ > Enter the name of your organisation > Select type of occupation > Press ‘Continue’
    3. Enter your net monthly income > Press ‘Continue’ > Select the bank you have your salary account with > Press ‘Continue’ > Enter the year of joining and work experience > Press ‘Continue’
    4. Enter the month and year you moved to your present city > Enter the month and year you moved to your present residence > Press ‘Continue’ > Select type of residence
    5. Enter your date of birth > Press ‘Continue’ > Select type of loan based on usage (you may skip this) > Press ‘Continue’ > Click ‘ View Free Offers’

    Documents Required To Apply For Axis Bank Personal Loan

    • Passport size photograph
    • Proof of Identity
    • Proof of Age/ Birth date
    • Proof of Income
    • Bank statements of last 3 months
    • Proof for signature verification
    • Proof of residence

    Pre-Loan Disbursement/ Post-Loan Sanction Documentation

    • Request for ECS Form/ Standing Instruction (SI). Security Cheques to be submitted for ECS and SI.
    • Duly signed agreement
    • Proof of qualification or registration with the governing body (Applicable for CAs, doctors, architects, CS, MBAs, ICWAs, engineers and consultants amongst others.

    Factors affecting Axis Bank Personal Loan Eligibility

    Some of the factors which have a bearing on personal loan eligibility are as follows:

    Age criteria: The age profile of customers is one of the important factors considered for approval of personal loans. Banks, typically, offer loans to candidates who have productive years before them and can, therefore, have an active professional or working life to be able to not only take the burden of a loan but also repay it on time. To avail of personal loans provided by Axis Bank, salaried customers have to be within the age bracket of 21 to 60 years.

    Type of company/organization: Given that personal loans are unsecured loans, the type of employer the customer is working for becomes important. Consequently, employees of public sector employees and those working for established, well-known private firms stand a better chance of availing of personal loans.

    Stability: Stability of employment and income play a seminal role in determining the approval of loans by Axis Bank. A salaried person with three months of continuous employment with the current company and a self-employed person with a minimum of 3 years of experience in business is eligible for personal loans by Axis Bank. Customers should, however, bear in mind that the bank may decide to change the eligibility criteria at its discretion.

    Financial health: The financial health of a customer will determine the amount of loan he or she is capable of acquiring from Axis Bank. It is, therefore, one of the most important factors which affect a customer’s eligibility in terms of acquiring a personal loan. Axis Bank has a set criteria in terms of a minimum net income an individual must earn to get a personal loan.

    Multiple loans: A customer’s eligibility to avail of personal loan will be adversely affected if he or she has several loans at a given point of time. Banks will be vary of individuals who have multiple loans and are paying large EMIs.

    Credit History: All banks, including Axis Bank, review an individual’s credit history before approving or rejecting a loan application. Bank will review the track record of EMI payments and credit card bills, if any, to ensure that a customer has a robust track record in terms of payments and credit history to determine if he or she is credit worthy.

    How CIBIL Score Affects Your Axis Bank Personal Loan Eligibility

    CIBIL score: The CIBIL Score plays a pivotal role in the approval of personal loans. Banks check the credit score and credit report of customers. If the credit score of a customer is low, banks, in most cases, will not consider providing loan to a customer. The credit score will, therefore, act as a substantive indicator of the creditworthiness of a customer.

    Repayment history: Poor track record of payments will invariably dent the credit score of an applicant. Repayment history of a customer constitutes about 35% of the credit score. Customers, therefore, need to ensure that bills are cleared on time so as to avoid their CIBIL score getting affected. Banks will examine the repayment history of a customer before approving a loan.

    Loans and more loans: Any individual who applies for more and more credit cards and loans will expose himself to more risks. Every time a customer applies for a new credit card, banks enquire into his or her Cibil report. As a result, credit score of an individual will take a beating if there are several inquiries.

    How To Increase Axis Bank Personal Loan Eligibility

    Increase in loan tenure: According to experts, increase in tenure will result in reduction of EMIs, effectively increasing an individual’s ability to pay. The tenure of a loan, therefore, has a bearing on the loan eligibility of an individual.

    Defaults: Customers have to ensure that they have a clean repayment history without any major defaults and late payments which will have an adverse impact on their CIBIL score. Also, banks will take serious note of any defaults by the customer in the recent past.

    Credit worthiness: Timely payment is an important determinant of the creditworthiness of a customer. CIBIL Score of 750 score and above shows creditworthiness of a customer. In most cases, banks easily approve loans for customers who have a CIBIL score of over 700. Customers should ensure that they have robust track record in terms of repayments to increase their eligibility to avail of personal loans.

    FAQs

    Q.What is the maximum and minimum amount of personal loan that can be availed from Axis Bank?

    You may avail a minimum of Rs.50,000 and a maximum of Rs.15 lakh as a personal loan from Axis Bank. Following are some of the factors your loan amount may depend on:

    • Your income
    • Continuity of job/ business
    • Loan requirement and eligibility
    • Repayment capacity
    • Credit score
    • And more.

    Q.What is the minimum and maximum tenure of loan I can apply for?

    You may get a loan for a period of 1 year to 5 years.

    Q.What is the minimum and maximum age limit to apply for a personal loan from Axis Bank?

    A person not below the age of 21 years and not above the age of 60 years can apply for a personal loan.

    Q.How can one calculate the EMI amount for a personal loan and the interest to be paid on the same?

    Though EMI can be calculated mathematically, you may compute the same in an easier way using the EMI Calculator available on BankBazaar website. The tool helps you know the different components of your loan including the principal amount, interest to be paid and month-wise and year-wise distribution of your EMIs.

    Q.How can I determine my loan eligibility?

    You may check your personal loan eligibility using our Personal Loan Eligibility Tool. All you have to do is fill up a few details and the tool will automatically generate available options based on your profile.

    Q.Are there any charges involved in using BankBazaars Eligibility and EMI Tools?

    No. BankBazaars EMI Calculator Tool is absolutely free for you to use. There are no charges applicable.

    Q.How important is CIBIL Score in determining ones loan eligibility? What should be the minimum CIBIL Score to avail a personal loan from Axis Bank?

    A CIBIL Score is an important measure of a persons creditworthiness and it is used by banks and financial institutions in determining the eligibility of a person to avail a loan. The higher the CIBIL Score of a lender the better are his prospects to avail a loan of his choice, While Axis Bank does not suggest a specific CIBIL Score, a score of above 750 is considered to be a good score.

    Q.Is there a need for a guarantor or collateral security to avail a personal loan?

    No collateral security or guarantor is required to avail Axis Bank Personal Loan.

    Personal Loan Reviews

    • Axis Bank Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I have applied for Axis Bank Personal Loan through online .The agent clearly explained the process of the loan.The rate of interest was as ok and the processing fee was also ok. while submitting the documents not yet faces any issues .The documentation part was more.The loan amount got on time .The loan amt was sufficient s well .The Overall Service is Good.
      Was this review helpful? 2
      , chennai
      Reviewed on Mar 24, 2019
    • Axis Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have applied for the consumer durable loan with the AXIS BANK they have offered with the good loan amount also the documentation process was simple to get the loan. I have taken the MOBILE PHONE with this bank, the duration for repaying the loan is for 9 months.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 24, 2019
    • Axis Bank Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Axis Bank is good in the personal loan as well and the process for the loan was done on time. I had no hassles to get the loan and the rate of interest and processing charges was nominal too. The documents was collected on time and in all no hassles.
      Was this review helpful? 1
      , chennai
      Reviewed on Mar 21, 2019
    • Axis Bank Personal Loan
      "Sky rocketing Rate of interest "
      0.5 2.0/5 "Expected more"
      I took two personal loans of more than 1 lakhs in Axis bank , For both the loan, Interest rate is too high of more than 16 % . I really fed up with the interest rate . I am looking for the balance transfer .Even I paid 12 moths of EMI till now .Till now I am not getting any help for interest rate .
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Mar 21, 2019
    • Axis Bank Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      My personal loan is ongoing with Axis Bank. I have taken one year back. The processing fee was zero. Their response was good. The interest rate was closed to 13%. The loan duration is 5 years. The charges are applicable for foreclosure. I have submitted the documents.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 21, 2019
    • Axis Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan a while back and it is still running, the loan amount which they had disbursed has been sufficient and the interest rate with them has been nominal. The charges with the loan was also pretty okay and their customer support team was helpful during the process.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 20, 2019
    • Axis Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I have directly applied for Personal Loan with Axis Bank. Th e rate of interest was nominal and they have processing fee as well .The agent clearly explained the process of personal loan .Loan amount got sanctioned on time as well .The Overall service is good .
      Was this review helpful? 2
      , tiruchirapalli
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "No pre closure charge is applicable for Personal loan "
      0.5 4.5/5 "Excellent!"
      Axis bank sanctioned my first loan . Loan got sanctioned within 10 days of time .A very good response and customer service given by Axis Bank . I thought of closing this loan within two months of time . The reason for that is , there is no pre closure charge in Axis bank .
      Was this review helpful? 1
      , chennai
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "Averrage service"
      0.5 4.0/5 "Great!"
      I have taken personal loan with AXIS BANK . My loan amount is up to the mark. I am aware about preclosere . So far my experience is good with this bank i have not face any inconvenience at the time of documentation . Interest rate is nominal and tenure period is sufficient . I use to pay EMI on time . I close this loan .
      Was this review helpful? 2
      , pune
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan a long time back and the process in getting the loan was pretty good. The loan amount was fine but the interest rate with them was very high and they had taken some charges which was around 7000. The tenure period with the loan was also okay.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "Outstanding Service"
      0.5 5.0/5 "Blown Away!"
      I have directly applied with Axis bank for Personal Loan .The rate of interest is good and processing fee is also nominal .Since working with Axis Bank got loan amount on time and not yet faced any issues on submitting documents as well.The Overall Service is good and satisfactory.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have got the good offer of personal loan amount with the AXIS BANK the loan amount what they have given is 2.5L with this bank. The documentation process was simple and it is quick to get the card. The rate of interest was lower with this personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "GOOD BANKING"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan with the AXIS BANK they have given the satisfactory loan amount also the process of getting the loan is good added on that the best feature is the process is quick and smooth to get the loan. The rate of interest is higher than others.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "Need to improve the customer support"
      0.5 4.0/5 "Great!"
      Axis customer support have not responded well, they taken 10 to 12 days to sanction the amount. The bank didn't disbursed the loan on the committed time, slightly it got delay, I have taken the interest of 13.75% its nominal when it compared to other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 18, 2019
    • Axis Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been previously taken personal loan with Axis bank ,Since there was delay in doing payment so i am facing some issue,the loan amount for now is less,if they increase in future then it will be good, the rate of interest they have charged me was nominal,the loan was on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 17, 2019
    • Axis Bank Personal Loan
      "Average card"
      0.5 3.0/5 "Satisfactory"
      I had been taken my personal loan with Axis bank previously, The loan amount which they have given me was sufficient.like based on requirements they gave me loan, but the rate of interest they have charged me was high for an month they have charged me 1.50 rupees per month, and even their processing fee they have charged me was high,now i have been successfully closed this loan.
      Was this review helpful? 2
      , pune
      Reviewed on Mar 17, 2019
    • Axis Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been taken my personal loan with Axis bank recently, i have taken 2 loan from this bank one had successfully closed and another one is still running,it have been just 3-4 months i have taken this loan,the loan amount was sufficient, they have given me up to 48,000,which was sufficient for me,and the rate of interest they have charged me up to 18% which is high,their service is good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Mar 15, 2019
    • Axis Bank Personal Loan
      "Bad service"
      0.5 1.0/5 "Really Bad"
      I have taken personal loan through AXIS BANK , i am disappointed with rate of interest initially they charge very high compare to others in the market . They did not offered sufficient loan so it is disappointing part . The hidden charges are more with this bank .
      Was this review helpful? 1
      , indore
      Reviewed on Mar 15, 2019
    • Axis Bank Personal Loan
      "Best service"
      0.5 4.0/5 "Great!"
      My personal loan is taken with AXIS BANK . They offered sufficient loan amount to me . Customer support and their response is good ,i receive my loan within few days . The tenure period is 60 month . The documentation part is easy , i did not have to face much issue .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 15, 2019
    • Axis Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The experience with this loan was quite okay. The process had went well but the interest rate and the charges with them has been pretty much high when compared with the market rate. Their customer support response has not been bad and was helpful at times.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 15, 2019
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