Axis Bank offers personal loans with EMIs starting at just Rs.2,224 per lakh.
Axis Bank offers personal loans of up to Rs.15 lakh at attractive rates starting from 12% p.a. to 24% p.a. Use BankBazaar Axis Bank Personal Loan EMI Calculator and calculate your EMI beforehand to manage your finances conveniently.
Axis Bank has extended the moratorium period for all its customers who had availed a personal loan to 31 August 2020. Customers who had availed a personal loan prior to 1 March 2020 can also avail the moratorium and defer the payment of their EMIs by 31 August 2020.
|Rs. 3 lakh @12% p.a.||2 years||3 years||5 years|
|Equated Monthly Instalment (EMI) (Rs.)||Rs.14,122||Rs.9,964||Rs.6,673|
|Total Interest Payable (Rs.)||Rs.38,929||Rs.58,715||Rs.1,00,400|
|Processing Fee (Rs.)||-||-||-|
You can use BankBazaar Axis Bank Personal Loan EMI Calculator to compute your monthly instalment amount in a quick and hassle-free manner. This easy-to-use online tool lets you calculate your personal loan EMI within a minute. All you need to do is enter your loan details, including the loan amount, tenure, interest rate, and processing fee. Click “Calculate” to check your EMI.
This is followed by an amortisation table that’ll give you a complete break-up of your repayment schedule.
1. Can I opt for personal loan EMI moratorium?
Adhering to RBI’s guidelines, Axis Bank offers its customers the option to opt-in for EMI moratorium for loan EMIs falling between 1st June, 2020 and 31st August, 2020. You can opt for moratorium by contacting the bank.
2. Will my personal loan EMI be affected if we opt for moratorium?
Though opting for moratorium may relieve you from financial stress temporarily, note that your interest will still be accrued during this 3-month period. So, along with your 3-month EMI extension, you will also have to pay the accrued interest on your outstanding loan. So, opt for personal loan moratorium only if you are facing severe financial crunch.
3. Can I opt-in for the moratorium for one month and opt-out for the remaining two months?
Yes, it’s permissible. For instance, if you have taken moratorium for the month of June and wish to opt-out for the month of July and August, you can do so.
4. Can I use BankBazaar Axis Bank Personal Loan EMI Calculator to calculate processing fee?
Yes, while entering your personal loan details, you can also put the processing fee charged by the bank. Other tan EMI calculation, the calculator will also give you the processing fee that will be charged upfront on your loan.
5. How is personal loan EMI calculated?
The mathematical formula for EMI calculation is P x R x (1+R)^N / [(1+R)^N-1], where P = Principal amount of the loan, R = Rate of interest, and N = Number of monthly instalments.
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