The personal loan offered by Axis Bank comes with interest rate starting from 15.75% p.a. This loan comes with flexible terms and helps people take care of their immediate financial requirements.
Axis Bank personal loans are fantastic options to consider for a variety of reasons.
|Interest Rate||15.75% to 24% p.a.|
|Loan Amount||Rs.50,000 to Rs.15 lakh|
|Processing Fee||1.5% to 2% p.a. of the loan amount + GST|
|Rate of Interest||15.75% to 24%|
|Loan Processing Charges||1.5% to 2% + Applicable GST|
|Penal Interest||24% p.a.|
|Cheque Bounce Charges||Rs.500 per cheque bounce + GST|
|Cheque/Instrument Swap Charges||Rs.500 per instance + GST|
|CIBIL Report Issuance Charges Stamp Duty Charges||Rs.50 per instance per set + GST as per State Stamp Act|
|Issuance Charges for Photocopy of Loan Agreement/Documents||Rs.250 per instance + GST|
|Duplicate Statement Issuance Charges Duplicate Interest Certificate (Actual/Provisional) Duplicate Amortization Schedule Charges Duplicate NOC Issuance Charges||Rs.250 per instance + GST Rs.250 per instance + GST Rs.250 per instance + GST Rs.500 per instance + GST|
Here are the eligibility criteria for Axis Bank personal loans:
|Age||Minimum: 21 years Maximum: 60 years|
|Net Salary||Rs.15,000 per month|
Here are the documents you need to submit when applying for a personal loan from Axis Bank:
Consider a scenario where you take a personal loan of Rs.1 lakh from Axis Bank. The interest rate charged by the bank for the loan is 15.75% p.a. You have chosen a tenure of 1 year to repay the loan. For these terms, the repayment schedule for the loan is given as follows:
|Year||Principal||Interest||EMI (principal + interest)||Balance amount||Percentage of loan paid to date|
|Particulars||Axis Bank Personal Loan||HDFC Bank Personal Loan||Citibank Personal Loan||Aditya Birla Capital|
|Interest rate||15.75% p.a. onwards||15.5% p.a. onwards||10.99% p.a. onwards||14% p.a. onwards|
|Processing fee||2% + GST||2.5% + GST||0.25% to 3.00% + GST||2% + GST|
|Foreclosure charges||Nil||2% to 4% of the outstanding loan amount||4% of the principal outstanding||3% of the outstanding loan amount|
|Late payment fee||2% of the overdue amount per month||2% of the overdue amount per month||Contact the bank for details||2% of the overdue amount per month|
|Axis Bank Agri Business Loans||Axis Bank Loan Against Property||Axis Bank Loan against Securities|
You can apply for an Axis Bank personal loan by visiting the official website of the company, or by visiting the nearest branch, or by calling the bank’s call centre.
The EMIs towards your Axis Bank personal loan can be paid using post-dated cheques, Electronic Clearing Service, or through Standing Instruction.
In order to keep track of your repayment schedule and to view your statements, you will have to request the bank for your Interest Certificate, Repayment Schedule, or Statement of Account. You may do so by calling the bank’s customer care number, or writing from your registered email ID and sending a mail to firstname.lastname@example.org, or visiting a branch of the bank.
In order to foreclose your Axis Bank personal loan, you will have to request the bank for a foreclosure statement. To do so, you may visit the nearest Loan Centre of the bank and submit your foreclosure request after which the bank will process your request.
You can update your email ID and mobile number by either calling the customer care number of the bank or by writing to the bank at email@example.com using your registered email ID.
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