Personal Loan Rates 201819039 views
- Axis Bank Personal Loan is Available at Lowest Interest Rates of 15.75%
- Enjoy a hassle-free loan journey with pocket-friendly EMIs
Want to enjoy the best personal loan interest rates starting at 15.75% that make you enjoy the pocket-friendly EMIs? Looking for a loan that comes with minimal documentation and fastest approval? Well, all this and much more can easily be possible with Axis Bank personal loan. Let’s just know more about the same below…
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Table of Contents
- 1 Axis Bank Personal Loan Interest Rates October 2018
- 2 Axis Bank Personal Loan Calculator
- 3 Axis Bank Personal Loan Eligibility
- 3.1 How to apply for Axis Bank Personal Loan
- 3.2 Axis Bank Personal Loan Balance Transfer
- 3.3 Documents Required For Axis Bank Personal Loan
- 3.4 Axis Bank Personal Loan Approval Process
- 3.5 Axis Bank Personal Loan Application Status
- 3.6 Axis Bank Personal Loan Customer Care Contact Number
- 3.7 Axis Bank Personal Loan Login
- 3.8 Axis Bank Personal Loan Statement Online
- 3.9 Why Choose Axis Bank Personal Loan?
- 3.10 Benefits of using Personal Loan EMI calculator
- 4 About Axis Bank Personal Loan
Axis Bank Personal Loan Interest Rates October 2018
This credit facility offered by Axis Bank is available with a low-interest rate, minimal documentation and fastest loan approval. Other than this, the lender also facilitates the higher loan amount and flexible tenure on loans, hence making it more convenient for the people to repay the loan without any hassle. With the competitive Axis Bank personal loan rates and easy repayment options to choose from, it would not be wrong to say that your EMI burden will also reduce, hence your loan journey will become much smoother. In order to know more about this credit facility, read this page further and get the detailed information in the table below.
|Interest Rate||15.75% - 24.00%|
|Loan Amount||₹ 50,000 - ₹ 30 Lakhs|
|Tenure||12 to 60 Months|
|Processing Fees||1.50% to 2.00% of the loan amount + GST|
Axis Bank Personal Loan Calculator
A personal loan EMI calculator online is a tool that calculates the monthly installment, Interest Outgo and Total Amount Payable towards a loan. EMI or equated monthly installment is used to pay off both the interest and principal each month for a particular period of time that is the loan tenure. This tool works on the basis of the following details:
- Loan Amount
- Rate of Interest
Once these details are filled, the device starts fetching the values, which can be seen in the table below. Moreover, for your better understanding, below is an example of the EMIs that a person will be supposed to pay to the bank if he takes a loan of ₹ 5 lakhs for a tenure of 5 years and has been offered the interest rate of 15.75% p.a. by Axis Bank.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 5,00,000 15.75% 1 ₹ 45,306 ₹ 43,676 ₹ 5,43,676 ₹ 5,00,000 15.75% 2 ₹ 24,422 ₹ 86,125 ₹ 5,86,125 ₹ 5,00,000 15.75% 3 ₹ 17,517 ₹ 1,30,607 ₹ 6,30,607 ₹ 5,00,000 15.75% 4 ₹ 14,106 ₹ 1,77,098 ₹ 6,77,098 ₹ 5,00,000 15.75% 5 ₹ 12,093 ₹ 2,25,563 ₹ 7,25,563 Year Principal Interest Balance Amount 1 ₹ 71,368 ₹ 73,744 ₹ 4,28,631 2 ₹ 83,457 ₹ 61,655 ₹ 3,45,173 3 ₹ 97,593 ₹ 47,519 ₹ 2,47,579 4 ₹ 1,14,124 ₹ 30,988 ₹ 1,33,455 5 ₹ 1,33,611 ₹ 11,657 ₹ 0
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
However, the best thing about this smart and time-saving device is the fact that it allows you to know your EMIs in a hassle-free manner. In fact, not only the monthly installments but your overall Interest Outgo and Total Amount Payable can also be known with the help of this user-friendly device. You have the calculations in front of you, hence it becomes easier for you to know the exact amount of your monthly installments within a few seconds. This is the reason that why this device has been widely used by the borrowers as it helps them in taking a calculative decision.
Axis Bank Personal Loan Eligibility
When it comes to Axis Bank Personal Loan eligibility, the lender offers loan to only salaried individuals, salaried doctors, public & private limited companies, government sector employees including public sector undertakings and central and local bodies. So, before you apply for the same, it is important for you to know the eligibility and in order to know more, you can take a look at the table below.
|Minimum age of an applicant must be 21 years at the time of availing the loan|
|Maximum age of the applicant must be 60 years|
|Minimum Net Monthly Income should be ₹ 15,000|
|Maximum loan amount is ₹ 15 lakhs|
|A person should be an Indian Citizen|
|Good CIBIL score|
How to apply for Axis Bank Personal Loan
Applying for personal loan is just a click away as the customers can easily apply for the same on the bank’s website. Yes, you have the convenience to avail this facility online and can enjoy plenty of unmatched features and benefits. But before you go for the same, below are the few things that you should always keep in mind.
- Check Your Eligibility: Since this type of loan is an unsecured loan, the amount and rates are offered after closely observing the overall profile of the applicant. So, before applying for this credit, it would be advisable to calculate your eligibility with the help of a personal loan eligibility calculator online. With this tool, you can know the maximum amount you get on the basis of your income and repayment capacity.
- Apply Online: A person can apply for this unsecured loan online as well after comparing the different lenders. If you want to grab the best deal online, you just need to do the comparison and get the instant approval without any hassle.
- Apply Offline: Those who are not comfortable in applying online can follow the offline procedure as well to avail this credit facility being offered by this lender. You can simply visit the bank branch and ask for an application form to apply for this credit facility.
Axis Bank Personal Loan Balance Transfer
If your existing lender is charging the higher interest rates on a personal loan, the balance transfer is one of the smartest options you can opt. Simply transfer your existing personal loan to Axis Bank and enjoy the lower interest rates along with pocket-friendly EMIs. The process of transferring your existing outstanding balance to Axis is really simple and quick as you can either visit the bank branch to raise a request or do the same online. Hence, this allows you to enjoy the benefits of lower rates along with affordable EMIs.
Documents Required For Axis Bank Personal Loan
Before applying for this credit facility, you need to have a complete list of documents ready so that you can have a hassle-free loan journey. Whether it’s salaried or self-employed, if an applicant is not having the proper documents, it would not be possible for him/her to avail this unsecured credit. Hence, to know all the important required, you just need to take a look at the table below.
|Signed loan application form with recent photographs||Signed loan application form with recent photographs|
|Age Proof-Passport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate||Age Proof-Passport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate|
|Identity Proof-Passport/PAN Card/Voter ID Card/Driving License||Identity Proof-Passport/PAN Card/Voter ID Card/Driving License|
|Address Proof-Ration Card/Driving License/Voter ID Card/Passport/Telephone Bill/Electricity Bill/Life Insurance Policy||Address Proof-Ration Card/Driving License/Voter ID Card/Passport/Telephone Bill/Electricity Bill/Life Insurance Policy|
|Income Proof-Salary slip of last 3-6 months, ITR or Form 16, 6 month bank statement||Income Proof-IT returns for the last 2 years along with audited balance sheet, P&L account statement for 2 years|
|Signature Verification Proof-Driving License/Passport copy/PAN Card||Signature Verification Proof-Driving License/Passport copy/PAN Card|
|Duly signed loan agreement||Duly signed loan agreement|
|Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs)/ Security Cheques required for SI and ECS||Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs)/ Security Cheques required for SI and ECS|
|Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers may vary from customer to customer|
Axis Bank Personal Loan Approval Process
The approval process for a personal loan is dependent on the CIBIL score of the applicant. If a person is having a good CIBIL score that is around 750 or above out of 900 then he/she is likely to get the better interest rates as in that case the profile of the applicant appeals the lender. In fact, with the help of some reliable websites like Wishfin, you can also check CIBIL score for free and get your report online in just a few minutes. Isn’t it great?
Axis Bank Personal Loan Application Status
The applicant can check the status of his/her loan application online by entering the application ID. He/she has to log in on the bank’s website to track the application status. The application status of the loan will be displayed on the screen. With the help of this online facility, it would be easy for you to know the real-time status of your loan, i.e. whether it is approved, pending or rejected as then it would be easy for you to take a final call.
Axis Bank Personal Loan Customer Care Contact Number
Keeping in mind the comfort and convenience of the customers, Axis Bank has a toll-free number: 1800 103 5577 where a customer is free to ask product related questions. The customers can call on this number anytime and get their queries resolved. The customer care executives are available 24×7 on this toll-free number in order to solve all your queries, concerns and complaints so that you can have a hassle-free loan journey.
Axis Bank Personal Loan Login
The process of login to the Axis Bank account is quick and easy as all you need is your account credentials. With the help of a login ID and password, you can simply log in to your account and keep a track on your personal loan. Now you don’t need to visit the bank as with the help of this online facility, everything is there right at your fingertips. Yes, the process is that quick and simple and allows you to know your personal loan details easily, isn’t it great?
Axis Bank Personal Loan Statement Online
Now keeping a track of your personal loan is not a hassle anymore as you have the facility of Axis bank personal loan statement. Yes, you just need to sit back and relax as the details of your loan will automatically reach in your inbox monthly. The bank sends your loan statement monthly, mentioning all the credentials such as outstanding balance, EMIs paid, paid, etc. With the help of the same, it becomes easier for the borrowers to track their loan details in a hassle-free manner.
Why Choose Axis Bank Personal Loan?
This lender is a reputed name in the Indian banking sector, worldwide known for delivering the best financial services and products to one and all. Be it loans, investments, insurances, cards, forex, deposits, etc, this private sector lender leaves no stone unturned to cater to the diverse needs of all its esteemed customers. With its exclusive range of financial products such as personal loan, the lender always ensures that people will get this credit facility at attractive rates and flexible tenures. The credit facility offered by this lender comes to you with an enormous range of unmatched features and benefits to avail. Well, to know the list of advantages coming your way, you just need to read this page below.
Fastest Approval: You can either go online or offline so as to avail this credit facility, and the best thing is that in return you can expect the fastest loan approval. Yes, the lender with its seamless and transparent process ensures to give the best services and that too without keep you waiting too long.
Higher Loan Amount: Isn’t it great that this renowned lender offers you the loan amount of up to ₹ 50 Lakhs? Yes, with this huge amount, you can easily fulfill all your multiple needs without thinking twice.
Competitive Interest Rates: Now, what could be more interesting and appealing than availing this credit facility at an interest rate of 15.50% per annum. The lender offers you the lowest rates so as to lessen your loan burden.
Zero Prepayment Charges: If a borrower wants to pay his loan before the actual set period, he/she has this facility, wherein an applicant can easily do the same without getting charged for it. Yes, the lender has zero prepayment or foreclosure charges, for those who want to close their loan early.
Minimal Documentation: In order to avail this credit facility, an applicant needs to submit a few important documents, and the best part is that the process is quite simple and quick. It doesn’t require a long list of documents, hence you can easily avail the same without any hassle.
Online Loan Account Facility: The bank facilitates online loan account, wherein an applicant can keep a track of his application status, repayment schedule and other information. With the help of this facility, you can have the complete access to your account and you can check it 24×7 depending on your convenience.
eDGE Loyalty Points: The lender offers eDGE loyalty points on personal loans, which can be used to redeem cash surplus and discounts. Yes, these loyalty rewards can easily be redeemed for many purposes.
Multiple Repayment Options: The bank offers multiple repayment options for this credit facility so that you can make the payments through various modes such as ECS or PDCs. With the help of these repayment options, you can easily repay your loan without any hassle.
Flexible Tenure: If a borrower is taking a loan, he/she can do the repayment within 12 to 60 months as per his/her comfort. With the flexible tenures, you can easily repay your loan as your burden will be reduced.
Benefits of using Personal Loan EMI calculator
Here are some of the advantages of using the EMI calculator:
- By using this tool, an applicant can know the monthly installments he/she will have to pay to the lender and plan their monthly finances accordingly.
- This device allows you to know your monthly installments in the most hassle-free manner i.e. it saves a lot of time and energy. It gives you the results instantly within few seconds.
- It tells a lot more than just the monthly installment like the total interest outgo, total amount. Also, in the last year of the tenure, there appears an amortization table that tells the details of each periodic payment on an amortizing loan. Amortization refers to the process of paying off a loan over time through regular payments.
About Axis Bank Personal Loan
Axis Bank is the third largest private bank in India and is one of the most chosen personal loan providers as well. With a wide network of branches all over the country, Axis Bank personal loan is reachable and easy to get. Yes, this credit facility can easily be availed by both salaried as well as self-employed individuals in order to fulfill their varied needs in life. Moreover, this renowned lender offers a personal loan with a hope to the customers that any financial urgency is temporary. Be it any personal or professional reason- Wedding, Home renovation, Starting a new business, Medical emergencies, Higher education or any other legitimate purpose, this credit facility is available for all the people. All you Axis Bank personal loan borrowers, be prepared to pay little more while availing for a personal loan. Now after GST into effect, the 15% service tax including the processing fee and prepayment charges are now be replaced with 18% GST. With the impact of GST, now the personal loan borrowers have to pay slightly more charges and fees.
The bank has no terms and conditions when it comes to using the loan money. Yes, isn’t it great! The lender will not ask for which purpose you are going to use the funds. The moment your loan is sanctioned, you can use the loan amount to meet your multiple needs, without disclosing the bank.