Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Axis Bank Personal Loan Interest Rates is Rated as "Excellent!" by 1952 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 2017

    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:

    YearPrincipal 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
      "Too good"
      0.5 4.0/5 "Great!"
      AXIS Bank personal loan process is too good, they were providing good interest rate and processing fees were very minimal and it is very low. EMI is 2596, i am comfortable with the EMI date. I have called their customer service and I had got the best of services from them.
      Was this review helpful? 0
      , kochi
      Reviewed on Oct 21, 2017
    • Axis Bank Personal Loan
      "average service"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan with AXIS before 4 years ,the service from AXIS bank for my personal loan is good but the rate of interest they offered during the time was 17 % which was very high but the documentation part was easy they came to my place and they collected all my documents in my door step but I will say the service of AXIS bank for my personal loan is avarage.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 20, 2017
    • Axis Bank Personal Loan
      "Interest rate should be nominal"
      0.5 2.0/5 "Expected more"
      Before five years I took Axis bank personal loan, but my experience was not good. Because they charged me high interest rate around 18.5%. At the time I was in a need hence I took that loan. In term of customer service is good, but interest rate should be reduced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Axis Bank Personal Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken the personal loan with AXIS bank 2 years before and I have closed it the service is very good and the customer service of AXIS bank is very fine ,documentation part is very good they collected all my documents directly from my home so I never had any difficulty during the documentation part ,the service of AXIS is excellent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Axis Bank Personal Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      I am very much happy with the service of AXIS bank the process is very fast and response is immediate from AXIS within one hour the whole process have been completed and I received my kit ,even the rate of interest is little high which is 14 %but the service from AXIS for my car loan service excellent.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 20, 2017
    • Axis Bank Personal Loan
      "Everthing is prefect here"
      0.5 5.0/5 "Blown Away!"
      With AXIS Bank everything is perfect, my collegues are working with axis bank and through him I had approached them for the personal loan. Due to my credit score issues I did not proceed further with the same bank.
      Was this review helpful? 0
      , kumbakonam
      Reviewed on Oct 19, 2017
    • Axis Bank Personal Loan
      "not bad"
      0.5 4.0/5 "Great!"
      I have my personal loan with AXIS bank which was taken few months back. The loan amount was 3 lakhs and the rate of interest was 18% which was very high than other banks. The EMI period was 64 months . The customer service and responses was good. I am satisfied with the loan process also.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 16, 2017
    • Axis Bank Personal Loan
      "Average exeperience"
      0.5 3.0/5 "Satisfactory"
      The Axis bank has disbursed my loan amount within a week time. The required loan amount has been disbursed and I am satisfied with the loan amount. The axis bank customer support is average , The rate interest and the charges are nominal with axis bank when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Axis Bank Personal Loan
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      I been a customer for six years at Axis Bank and I been approaching the bank for the last three months for a personal loan. The bank has not been flexible in providing me the loan and I have to approach the other banks for the same. It has not been a good experience.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Oct 16, 2017
    • Axis Bank Personal Loan
      "Good experience with AXIS"
      0.5 5.0/5 "Blown Away!"
      It was a breeze of experience, that I had with AXIS Bank. Communication part was very good and we can easily get our work done there. The time scales taken to process the loan was hardly a week, plus I was offered the best interest rate. Coming to partial payment option, AXIS Bank has got an option of making partial payments after 2 EMI'S and on top of all, that there are no charges when it comes to foreclosure.
      Was this review helpful? 0
      , vapi
      Reviewed on Oct 16, 2017
    • Axis Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      After me applying at Axis Bank for the personal loan. The bank declined the application because of their norms. But when I went to them and verified the same they reopened the application and guided me and sorted out the reason and processed the loan. They took the extra effort for me to complete the loan.
      Was this review helpful? 0
      , mysore
      Reviewed on Oct 15, 2017
    • Axis Bank Personal Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with AXIS bank 2 years back. The loan amount was 1 lakhs and the rate of interest was initially 17% then they have called me for the drop of interest rate which is 15.25% now . There is no pre closer charges here . They have provided door step service for the documentation collection and sanctioned the loan with the committed time also. The loan process was very easy and hassle free . The processing fee was 2,100 which is lowest in the market.
      Was this review helpful? 0
      , vapi
      Reviewed on Oct 14, 2017
    • Axis Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Axis Bank has offered me a personal loan and this experience was two years ago. Though I do not remember the exact interest rate and charges. It was surely a good experience and a fast process. The customer support was excellent and the after loan services are good too.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 14, 2017
    • Axis Bank Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      The experience with AXIS BANK for the personal loan was good only .as the amount provided to me was 8,73 lakh . Its been only three months i took the loan and the Rate of interest provided by them was 10.49% and processing fee charged was 10k. Further AXIS Bank provided some foreclosure options @ 0% interest. The customer service was real good from the bank side .
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 14, 2017
    • Axis Bank Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      I have closed my personal loan with the Axis bank and the interest rate was around 15%, also the customer service was good one with them. Within two weeks of time, the loan amount got disbursed to my account.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 14, 2017
    • Axis Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the personal loan with the Axis bank and the interest rate is around 12.5%. Within seven days of time, the loan amount got disbursed. I would like to say that the response was an average one with them.
      Was this review helpful? 0
      , bhopal
      Reviewed on Oct 13, 2017
    • Axis Bank Personal Loan
      "High on ROI and charges"
      0.5 5.0/5 "Blown Away!"
      The interest rate and processing charges are very high at Axis Bank. The bank is high when compared to Kotak Mahindra Bank. The process was perfect and the documentation was taken on time and the disbursement was also satisfactory. They could provide lesser rates.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 12, 2017
    • Axis Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      My personal loan was taken with AXIS bank. The loan amount was 1.50 lakhs and Its a pre approved loan, the rate of interest was 24% which was high than other banks. The EMI period was 1 year. They have provided door step service for the documentation collection and sanctioned the loan with the committed time.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 10, 2017
    • Axis Bank Personal Loan
      "Its Average"
      0.5 4.0/5 "Great!"
      I took the personal loan with AXIS before five years, at the time I done lot of paper works. Totally AXIS took two weeks to complete the entire loan process. Interest rate was high for the principal amount of Rs.5.5 lakhs for the tenure of five years.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 10, 2017
    • Axis Bank Personal Loan
      "EXCELLENT"
      0.5 3.5/5 "Pretty good"
      I am having the personal loan with the Axis bank and the interest rate is bit a high when compared with others.The loan amount got disbursed within five days of time The rate of interest was 16.2% The processing charges was 2500 and EMI is around 2482 and it is for 60 months
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 09, 2017
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