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  • Axis Bank Personal Loan

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  • The personal loan offered by Axis Bank comes with interest rate starting at 15.75% p.a. This loan comes with flexible terms and helps people take care of their immediate financial requirements.

    • Loans up to Rs.15 lakh
    • Loan tenure of 5 years
    • Quick approval and disbursal
    • Up to 2% processing fee
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    Features and Benefits

    Axis Bank personal loans are fantastic options to consider for a variety of reasons.

    • Flexible repayment tenures
    • Special offers for customers who have existing personal loans with other banks and want to lower their EMIs by transferring the loan to Axis Bank
    • Multiple channels for repayment, including RTGS, NEFT, and ECS
    • Minimal documentation and hassle-free application process

    Know more about Axis Bank Personal Loan

    Details of Axis Bank Personal Loan

    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

    Axis Bank Personal Loan Charges

    Schedule of charges Fees
    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
    **(Subject to change as per Bank's discretion)

    Eligibility Criteria

    Here are the eligibility criteria for Axis Bank personal loans:

    Age Minimum: 21 years
    Maximum: 60 years
    Employment Type
    • Salaried employees
    • Private limited compamy employees
    • Government employees including PSU,Central and local bodies.
    Net Salary Rs.15,000 per month
     

    Documents Required

    Here are the documents you need to submit when applying for a personal loan from Axis Bank:

    • Application form
    • Age proof
    • Passport size photographs
    • ID proof
    • Residence proof
    • Bank statement
    • Signature verification proof

    Here are the documents you need to submit post sanction/pre-disbursement:

    • Duly signed loan agreement
    • ECS form/Standing Instruction Request
     

    How the EMI calculation works for Axis Bank personal loans?

    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 
    Apr  Rs.7,749  Rs.1,313  Rs.9,061  Rs.92,251  7.75% 
    May  Rs.7,850  Rs.1,211  Rs.9,061  Rs.84,401  15.60% 
    Jun  Rs.7,953  Rs.1,108  Rs.9,061  Rs.76,447  23.55% 
    Jul  Rs.8,058  Rs.1,003  Rs.9,061  Rs.68,389  31.61% 
    Aug  Rs.8,164  Rs.898  Rs.9,061  Rs.60,226  39.77% 
    Sep  Rs.8,271  Rs.790  Rs.9,061  Rs.51,955  48.05% 
    Oct  Rs.8,379  Rs.682  Rs.9,061  Rs.43,576  56.42% 
    Nov  Rs.8,489  Rs.572  Rs.9,061  Rs.35,086  64.91% 
    Dec  Rs.8,601  Rs.461  Rs.9,061  Rs.26,486  73.51% 
    Jan  Rs.8,714  Rs.348  Rs.9,061  Rs.17,772  82.23% 
    Feb  Rs.8,828  Rs.233  Rs.9,061  Rs.8,944  91.06% 
    Mar  Rs.8,944  Rs.117  Rs.9,061  Rs.0  100.00% 

    Compare AXIS personal loan with loans from other lenders? 

    Particulars  Axis Bank Personal Loan  HDFC Bank Personal Loan  Citibank Personal Loan  Aditya Birla Capital 
    Interest rate  15.75% p.a. onwards  11.25% p.a. onwards  10.99% p.a. onwards  11% 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 

    Other loan products offered by Axis Bank

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    Frequently Asked Questions

    How do I apply for an Axis Bank personal loan?

    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.

    How can I pay my Axis Bank personal loan EMIs?

    The EMIs towards your Axis Bank personal loan can be paid using post-dated cheques, Electronic Clearing Service, or through Standing Instruction.

    How can I keep track of my personal loan from Axis Bank?

    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 loans@axisbank.com, or visiting a branch of the bank.

    How can I foreclose my Axis Bank personal loan?

    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.

    How can I register my email ID and mobile number and link it to my loan account?

    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 loans@axisbank.com using your registered email ID.

        

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    Axis Bank Personal Loan Reviews

    • Axis Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan directly through Bank .I have got the loan on time and it was sufficient as well.The rate of interest and the processing fee was very high since had a requirement taken this loan at that time .While submitting the documents the process was smooth .
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Sep 13, 2019
    • Axis Bank
      Axis Bank Personal Loan
      "Fast Loan service provider"
      0.5 5.0/5 "Blown Away!"
      From AXIS bank I took personal loan for the amount of Rs.4.5 lakhs with the duration of five years, the rate of interest is around 12.99% per annum and there is no charges for part payment and foreclosure its a best part. They took the paper on very first day and on next day they issue demand draft for the requested amount.
      Was this review helpful? 0
      , panipat
      Reviewed on Sep 13, 2019
    • Axis Bank Personal Loan
      "Great experience"
      0.5 5.0/5 "Blown Away!"
      I have received a personal loan with Axis Bank and its pre approved. The loan experience is satisfactory. The rate of interest is little bit higher and it was around 11.5%. I have done a balance transfer and closed the loan before 6months back.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 11, 2019
    • Axis Bank Personal Loan
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      Last year, I took a personal loan with Axis Bank and the interest rate was around 17%. I felt, the rate of interest is very higher so I have done a balance transfer and foreclosed the loan in the month of June. The loan process was instant and pre approved. I would appreciate, if they reduce the interest rate.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 11, 2019
    • Axis Bank Personal Loan
      "Fast Approval loan"
      0.5 4.5/5 "Excellent!"
      The loan was easily processed from Axis bank hence i have chosen the same. It was 1 minute loan, because no documentation, it was a easy process. I took the loan amount of Rs. 5.75 lakhs and the given interest rate is nominal. Still the loan is going on because i purchased it 1.5 years back. I'm paying the EMI amount of Rs. 13,321.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 10, 2019
    • Axis Bank Personal Loan
      "Happy service"
      0.5 5.0/5 "Blown Away!"
      Axis Bank is very good and proactive bank. They have sanctioned the sufficient loan amount. They have completed the process faster and within 30minutes credited the amount into my account. The rate of interest is also nominal. The processing fee is applicable. The loan duration is 1year.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 10, 2019
    • Axis Bank Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      Axis Bank has provided me a personal loan within 2 days and the interest rate was satisfactory. The documentation process was online and everything was simple. There is no charges for preclosure and the loan duration is 1 years. The partial payment is applicable after one EMI.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 10, 2019
    • Axis Bank Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Axis Bank before 2 to 3 years which is going to complete. They have sanctioned the loan immediately. The customer service is good and the followups are proper. The rate of interest is little bit higher and the processing fee is applicable.
      Was this review helpful? 3
      , vizianagaram
      Reviewed on Sep 05, 2019
    • Axis Bank Personal Loan
      "Interest rate should be lesser"
      0.5 5.0/5 "Blown Away!"
      I already taken personal loan from AXIS, they are very good in service but the interest rate is not upto the mark I felt its slightly higher. They gave me 15% of interest for the loan amount of Rs. 2 lakhs with the duration of five years. It would be great if they reduce the interest.
      Was this review helpful? 1
      , kanpur
      Reviewed on Sep 05, 2019
    • Axis Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Axis Bank personal loan through Bank directly.The rate of interest and the processing fee was nominal .I have got the loan on time and there was no difficulties faced until the loan got sanctioned.While submitting the documents the process was smooth .I am really satisfied with the service .
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 03, 2019
    • Axis Bank Personal Loan
      "Not satisfied with charges &not fit for small scale industry"
      0.5 4.0/5 "Great!"
      I am running a personal loan with Axis Bank and it was taken 3 years back. They have approved me amount for 1.25L and recently done a topped up to 2.45L. The loan process was very simple and done it through mobile app. They have credited the amount in 48hrs.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Sep 03, 2019
    • Axis Bank Personal Loan
      "Need to reduce the interest rate "
      0.5 4.0/5 "Great!"
      I have a personal loan with Axis Bank because of the higher rate of interest which am not satisfied. I have already gone ahead and paid 33months EMI. But that point of time, they helped me with the sufficient amount which I agreed to continue with the interest rate as per the policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 01, 2019
    • Axis Bank Personal Loan
      "Strongly recommendable "
      0.5 5.0/5 "Blown Away!"
      I took Rs.4 lakhs of personal loan from AXIS, the process was easy within one week the bank have approved the loan. I done offline process through their field executive and I got the loan letter on time and best part there is no charges for foreclosure, they just taken 1000 as a processing fee.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 31, 2019
    • Axis Bank Personal Loan
      "Best foreclosure option with Axis"
      0.5 5.0/5 "Blown Away!"
      I closed the Axis personal loan, I took 1.40 lakh best part we don't want to worry about the foreclosure, I challenge non of the bank is providing such features, I had experience with other banks as well. Here I took the loan for five years then I closed in 1.5 year without any charges its a great experience.
      Was this review helpful? 4
      , noida
      Reviewed on Aug 30, 2019
    • Axis Bank Personal Loan
      "Right bank for personal loan"
      0.5 3.0/5 "Satisfactory"
      Taken my personal loan from Axis bank because there is no charge for pre-closure and interest rate is less. They won;t charge any unwanted charges. Earlier i had a salary account from Axis bank hence their service is convenient for me. They have sanctioned the loan within 1 week. They have provided me a processing fee of 2% and the rate of interest is 13.5%.
      Was this review helpful? 1
      , pune
      Reviewed on Aug 27, 2019
    • Axis Bank Personal Loan
      "Very Good Loan"
      0.5 5.0/5 "Blown Away!"
      3 years ago, i bought my personal loan from Axis bank. My company salary account is in the same bank hence i have chosen. They have offered me a interest rate of 11.4%. I am paying the EMI amount of Rs. 5600. Selected the loan for 5 years. The loan amount is Rs. 2.5 lakhs.
      Was this review helpful? 5
      , chennai
      Reviewed on Aug 25, 2019
    • Axis Bank Personal Loan
      "Good to go with Axis"
      0.5 5.0/5 "Blown Away!"
      I closed Axis personal loan with the outstanding of Rs. 4 lakhs for the duration of three years, it was also pre approved loan in 10 seconds. The rate of interest is nominal around 15% as like others, I done the foreclosure but there is no charges applicable.
      Was this review helpful? 2
      , chennai
      Reviewed on Aug 23, 2019
    • Axis Bank Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have applied for 3L and am eligible for 4.2L with Axis Bank. The loan process was very quick and they have approved this loan instant. I am satisfied with the rate of interest. I am KYC customer so they did not ask for documents. The loan duration is 4 years.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Aug 22, 2019
    • Axis Bank Personal Loan
      "Not satisfactory"
      0.5 2.0/5 "Expected more"
      I took a personal loan with Axis Bank for 80,000 rupees and which is ongoing. The loan duration is 5 years. They have charged me a processing fee and am planning to foreclose the loan in 2 to 3months. The loan process was very quicker but not satisfied with ROI.
      Was this review helpful? 2
      , indore
      Reviewed on Aug 21, 2019
    • Axis Bank Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I have taken personal loan with Axis Bank, their rate of interest is very higher like 22% or 24% which am not satisfied so I have foreclosed the loan after 2 to 3 months. The loan process was good. There was a processing fee. The loan amount was 3.42L and the loan duration is 5 years.
      Was this review helpful? 2
      , indore
      Reviewed on Aug 21, 2019
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