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  • Axis Bank Personal Loan Interest Rates is Rated as "Excellent!" by 2140 Users
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    Axis Bank Personal Loan Interest Rates

    Overview of Axis Bank Personal Loan

    Axis Bank Personal Loans are particularly designed to meet your personal expenses. Axis Bank offers personal loans at attractive rates of interest by using which you can accomplish a lot of things such as funding your children’s education, arranging a wedding, buying travel packages, renovating your house etc. You can apply for an Axis Bank Personal Loan Online or manually by visiting the nearest branch of Axis Bank.

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    Axis Bank Personal Loan Interest Rates

    Axis Bank Personal Loans come with competitive rates of interest. However, Axis Bank may take into consideration the following factors - your income level, eligibility, repayment capacity and your relationship with the while finalizing its personal loan interest for you. The interest rates offered by Axis Bank on personal loan in 2015 range from 15.50% to 24%. The interest rates offered by the bank are subject to change from time to time.

    Axis Bank Personal Loan Interest Rates 2018

    Particulars Salaried
    Interest rate 15.50% to 24% p.a.
    Loan Amount Min: Rs 50,000; Max: Rs 15 lakh.
    Loan Tenure Min.: 12 months; Max.: 60 months
    Lowest EMI Rs 1325 (At lowest amount with highest tenure)
    Processing Fee 1.50% to 2.00% + GST as applicable
    Age Between 21 to 60 years of age
    Prepayment Charges Nil
    Foreclosure Charges NA

    How to Calculate Interest/ EMI on Axis Bank Personal Loan?

    There are three ways of calculating Axis Bank Personal Loan EMIs and interest rate on your personal loan. You can calculate it by using the mathematical formula, or an excel or the EMI calculators provided by various banks and financial organizations. Calculating EMIs by using an EMI calculator is very simple. What you have to do is to put the following details in the EMI calculator - the principal amount, rate of interest on the principal amount, tenure of the loan and processing fees if applicable. When you put these details in the EMI calculator, the calculator will immediately reveal your monthly EMIs on Axis Bank Personal Loan as well as the loan amortization table which will provide you a breakup of the whole repayment procedure. Calculation of EMIs is based on four major factors which include the principal amount, rate of interest on the principal amount, tenure of the loan and the method of computation.

    Example: If you take a personal loan of Rs.1 lakh form Axis Bank for 5 years at 15.50% and you pay a processing fees of 1.50%, you will the repaying following principal and interest amounts on yearly reducing balance to Axis Bank:

    Year Principal paid (Rs.) Interest paid (Rs.) Balance amount (Rs.)
    Year 15,7146,31394,286
    Year 215,30713,55678,979
    Year 317,85511,00761,124
    Year 420,8308,03740,296
    Year 524,2984,56816,000
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    Factors Affecting Axis Bank Personal Loan Interest Rates

    Your Axis Bank Personal Loan interest rate 2015 may get affected by a number of factors. Listed below are the main factors that may affect Axis Bank Personal Loan interest rates:

    • Nature of your job: If your job is permanent and income level is high, Axis Bank may choose to offer high amount of personal loan at lower rate of interest. However, the bank may have different parameters of granting personal loans to self-employed individuals, salaried and other categories like category A and B applicants.
    • Loan tenure: Axis Bank may charge lower rate of interest on personal loans taken for long tenures and high rate of interest taken for short tenures.
    • Relationship with Axis Bank: Your relationship with Axis Bank can be one of the important factors that may affect your personal loan interest rates . If you have a good relationship with the bank, Axis Bank may charge reduced rate of interest on your personal loans. By continuing a steady relationship with Axis Bank and paying your previous debts on time, you can win the trust of the bank.
    • Loan repayment capacity: Another factor that may affect your Axis Bank Personal loan interest rate in 2015 is your capacity for loan repayment. If Axis Bank thinks that you are capable of repaying your loan on time, it may offer your reduced rate of interest.

    How CIBIL Score affects your Axis Bank Personal Loan Interest Rates

    CIBIL score plays an important role in determining your Axis Bank Personal Loan Interest Rate. A good credit history enables you to have a good CIBIL score and you can maintain a good credit history by paying all your debts on time and opting for a mixture of secure and unsecured debts. Normally, banks consider 750 as desirable credit score for loans. If you have a credit score of 750 and above, you may expect to receive reduced rate of interest on your Axis Bank Personal Loan interest rate, compared to person whose CIBIL score is lower than that.

    Key things you should know about Axis Bank Personal Loan interest rates

    Before you apply for a personal loan in 2015 with Axis Bank, you need to know certain key things which include:

    • Know how to calculate your EMIs on Axis Bank Personal Loan. This you can easily do by using a Personal Loan EMI Calculator.
    • Know the exact amount of interest you will be paying on the principal amount at the end.
    • Find out if any hidden charges are involved in the loan.
    • Understand the difference between fixed rate and floating rate of interest and choose your Axis Bank Personal Loan Interest Rate as per your repayment capacity. In fixed rate personal loans, you pay a fixed rate of interest on the principal amount for the whole tenure whereas in floating rate personal loans, your interest payment may change.
    • You should also know whether Axis Bank ask for security or collateral to grant you a personal loan or not.

    Axis Bank Personal Loan Interest Rates Reviews

    • Axis Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the personal loan with the Axis bank and the rate of interest is around 10%. I would like to say that the customer service is an excellent one for me with them till now. Services and other aspects are good one with the Axis bank for the personal loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 21, 2018
    • Axis Bank Personal Loan
      "Good Foreclosure option"
      0.5 3.0/5 "Satisfactory"
      I have personal loan with axis, I am yet to close it. I have to pay monthly EMI around Rs. 5000 I do have other commitment. Hence though I close the loan but there is no preclosure charges. I took amt of Rs. 1 lakh I paid around Rs. 58,000 remaining I can pay any time and close it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • Axis Bank Personal Loan
      "Average Personal Loan service"
      0.5 3.0/5 "Satisfactory"
      AXIS Bank I have taken Personal Loan with the expected Rate Of Interest and the Loan amount which I have been expected was given,approved on time ,the customer service is good clearly informed about the loan details fully when to pay the amount compared to other banks the rate of interest in affordable,no issues with the amount which is debited from the account only draw back is On line service for axis bank is not up to the level since for the payment we have to get it touch with the main branch of this bank that is the only inconvenience Rather than that Axis bank service is good.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 20, 2018
    • Axis Bank Personal Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      I have also taken my personal loan from Axis bank. It was also convenient process and I got the loan on time. The customer services are good and there were no issues in getting the funds. The interest rate and processing charges are on the higher side. The after loan services are also good and comfortable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 17, 2018
    • Axis Bank Personal Loan
      "Looking for better interest"
      0.5 5.0/5 "Blown Away!"
      Almost I paid all my AXIS personal loan due, they charged me 18% of interest it was high. Though I am existing customer of the bank they didn't reduce the interest. As per their norms they have charged the interest. I took the loan amount of Rs. 1.20 lakh for the tenure of 4 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 16, 2018
    • Axis Bank Personal Loan
      "Good Loan"
      0.5 4.0/5 "Great!"
      When in need of a Personal Loan, The Axis Bank were readily there to pitch in with the offer. They gave me the Loan immediately. Their interest rate is alright. The repayment happened easily without much fuss about it. The overall experience with it has been good.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 16, 2018
    • Axis Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from axis bank, they offered 90000 and I am satisfied with loan amount. They have charged 10.5% interest rate for my loan . I took a loan for the period of 24 months, I pay an EMI of 4000 every month.They had disbursed the loan amount to me with a resonable time.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • Axis Bank Personal Loan
      "Its Better"
      0.5 3.0/5 "Satisfactory"
      One year back I availed personal loan from SBI with the interest rate of 17%, due to an emergency I took this loan. But the process was good within a week they have disbursed the amount. Still my loan is running with AXIS, but my salary credits on 7th of every month but m due date on 5th. I have been requesting to change this due date, they taking some time.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • Axis Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan with Axis bank,the loan amount is 3.60 lakhs,rate of interest is 10.99% is very low as compared to others,the tenure is for 60 months.They had deducted a processing fees of .99%the EMI is active as its taken 5 months ago.The payment is registered of an auto debit.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 15, 2018
    • Axis Bank Personal Loan
      "They should transparent and should follow up the commitment"
      0.5 1.0/5 "Really Bad"
      I took Personal loan from AXIS, I went to branch two to three time for loan procedure. Even for the foreclosure I have paid some interest rate it was not as per their commitment. AXIS phone banking service is not upto the mark, they should help on loan queries.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 15, 2018
    • Axis Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The personal loan service was good with the AXIS BANK. They have disbursed the loan amount within 15 days of time. The documentation process was done in a professional way. The required loan amount has been given and I am satisfied with it. The rate of interest is high with the AXIS BANK when compared with others.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 14, 2018
    • Axis Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The service is good with Axis personal loan department. The rate of interest and charges is nominal with Axis. Response is good with Axis and they make the process fast on time. It is totally a happy experience with Axis personal loan department.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2018
    • Axis Bank Personal Loan
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      AXIS processed my personal loan very quickly, I got loan amount on time. But I was expected lower rate but t hey quoted above exception finally it was okay for me. The documentation process was very convenient and they done fast disbursal on loan.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 12, 2018
    • Axis Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have applied for a personal loan from axis bank and I never got any response from the Axis bank in regards to my personal loan application but they have rejected my personal loan application saying that lack of documentation issues, so that was the reason I haven't got the personal loan from the axis bank.
      Was this review helpful? 0
      , gorakhpur
      Reviewed on Feb 12, 2018
    • Axis Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My Personal loan experience with Axis bank was very good, the loan amount was for Rs 15 lakhs with the rate of interest of 10.99% which is nominal when compared to other banks. The process was very smooth and i received my loan amount on time. The tenure of this loan is 5 years and i am happy with the customer service and their response.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2018
    • Axis Bank Personal Loan
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan from Axis Bank. The process was completed within four to five days and I got the funds on time. The rate of interest was around 13% and the processing fee was around 1 or 2 % The customer services and response is good overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 08, 2018
    • Axis Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have got the required loan amount from the Axis bank. I have got the personal loan around 2 years ago from the axis bank. The rate of interest and the charges are average with the axis bank. I am satisfied with the axis bank personal loan service.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Feb 08, 2018
    • Axis Bank Personal Loan
      "ROI is high"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Axis Bank. The process was good as I applied online for it and within three days the amount got credited in my account. The rate of interest is very high. It is around 20% and the processing charges are also high as well.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 08, 2018
    • Axis Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      AXIS I Have chosen the PERSONAL LOAN where the interest rate Is not up to the level, My expectation Is something different from they provided Me If the tenured Interest amount can be little high .Overall all the Axis bank service is good to use throughout .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 07, 2018
    • Axis Bank Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      Rate of interest was on higher end with the Axis bank for my personal loan and the customer service was okay one for me with them and the response was fine one with the Axis bank. I would like to suggest that they could reduce the rate of interest.
      Was this review helpful? 0
      , surat
      Reviewed on Feb 06, 2018
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