Axis Bank offers personal loans to salaried individuals in the age group of 21 to 60 years. The minimum net monthly income of the applicant should be Rs.15,000.
|Minimum Age||21 years|
|Maximum Age||60 years at the time of loan maturity|
|Minimum Net Monthly Income||Rs.15,000|
|Minimum Loan Amount||Rs.50,000|
|Maximum Loan Amount||Rs.15 lakh|
|Loan Tenure||12 – 60 months|
*Employees of private and public sector companies, salaried doctors, and employees of government undertakings
Know more about Axis Bank Personal Loan
|Details||Tenure up to 36 months||Tenure more than 36 months|
|Interest Rate||16% - 24% p.a.||15.75% - 24% p.a.|
|Loan Amount||Rs.50,000 – Rs.15 lakh|
|Penal Interest||2% per month on the overdue installment amount|
Repayment tenure ranges from 12 months to 60 months.
The documentation required for an Axis Bank personal loan are as follows:
After the loan is sanctioned, the loan agreement should be signed and the Standing Instruction (SI) Request Form should be submitted along with the security cheques.
Doctors, CA/CS/ICWA/MBA consultants, architects, and engineers should submit registration or qualification proof along with the other documents to apply for the loan.
Before applying for an Axis Bank personal loan, you should ideally use an online personal loan EMI Calculator tool to understand the amount you will be required to pay each month. You will have to update the loan amount, tenure, and interest rate on the calculator tool to find the monthly EMI and the repayment schedule.
Axis Bank personal loan has zero part-prepayment and foreclosure charges.
Yes, this is possible. In case you have a high interest personal loan from another lender, you can transfer it to Axis Bank and enjoy lower interest rates on your loan.
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