It is difficult to keep pace with the technological advancement in this everyday changing world. The expenses of gadgets are so high that we sometimes can’t afford to upgrade them. Axis Bank personal Loan is a financial help provided by the Axis bank. Be it buying an expensive laptop or a big flat screen for your entertainment, Axis Bank has got it all covered with its personal loan.
About Axis Bank Personal Loan
A personal loan is an unsecured loan, that is you do not have to mortgage any collateral with the bank. This loan can be used for any purpose of the borrower, be it using for his/her previous debt payment or going on a vacation abroad. There is only a minimal paperwork required. It is a hassle-free loan with quick disbursal of finances to the borrower.
Why Should You Apply for Axis Bank Personal Loan?
Axis Bank is one of the leading and trusted commercial banks in the country. Axis Bank Personal Loan has plenty of benefits. It helps you to fulfill your desires by sanctioning the amount you require. There are many easy repayment options which the borrower can choose according to his/her convenience. Following are the reasons to apply for a personal loan.
- To pay off all your medical expenses.
- To pay off your previous unpaid debts.
- For fulfilling your personal goals.
- It also helps you to improve your credit score.
- Axis Bank provides for online net banking.
Axis Bank Personal Loan Eligibility
There are some criteria which the applicant needs to fulfill to avail a Personal Loan such as credit score, monthly income, your previously availed loans, repayment capability, etc. There are two categories of applicants.
- Salaried Applicant
- Self-employed Applicant
There are different eligibility criteria for both.
- Firstly, the minimum age of the Applicant should be 21 years and maximum of 60 years.
- If the applicant is residing in a metropolitan city, then he/she should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
- Furthermore, the applicant should have a work experience of at least three years, and the salary should get deposited in their bank account only.
- Also, the applicant should have a good credit score, and it should be more than 700.
- Furthermore, the applicant has to submit their bank statement of the last three months and the salary slip of the last six months.
Click to know more about Salaried Applicant
- Firstly, the minimum age of the Applicant should be 25 years and maximum of 65 years.
- Secondly, the applicant should have filed the ITR for the last three consecutive years.
- The credit score of the applicant should be good, and no previous debt should be left due.
- The ITR filed should be of Rs 2.5 lakhs per annum at least.
Click to know more about Self-employed Applicant
Axis Bank Personal Loan Documents
Documentation for Personal Loans may vary according to the profiles. Before issuing loan, the banks ensure the repayment capacity of the borrower. The personal loan documents will be different for salaried and self-employed applicants. Before applying for a personal loan, check your eligibility and documentation. Apply now and get quick approval.
- Identity proof (Passport/Id card/voter card/driving license/Aadhar Card) It can be any one of these.
- Residence proof (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card). And if the applicant is living in a rented apartment, then they have to submit their rental agreement, electricity bill which has to be in the name of the applicant and the address of the owner.
- The applicant has to submit their PAN card which is an essential document under the KYC norms.
- If the applicant is a salaried one, then they have to submit their salary slip of the last three months and the bank statements of the last six months.
- And if the applicant is a self-employed then they have to submit the ITR of the last three years and registration of their business should be done.
- Two passport size colored photos.
Self Employed People
Last 3 months salary slips & last 6 months bank statement
ITR of minimum 2.5 lakhs for last 3 years
Identity Proof: Aadhaar Card/Pan Card/Voter Id/ Driving License/ Passport
Address Proof: Aadhaar Card/Pan Card/Voter Id /Passport/Driver License and if the person is living in a rented apartment then rental agreement, electricity & water bill and owner’s address
Two colored photographs
PAN Card photocopy
Axis Bank Personal Loan Interest Rates
A Personal loan is an instant finance provided by the bank to the borrower. The borrower can avail personal loan from any lending institution, be it a private sector bank or a government sector bank. Personal loan interest rates vary according to the banks and customer’s profile. Some Institutions provide special offers to their regular or internal customers like affordable interest rates, low processing fee, affordable EMIs and long tenure period.
Click to know more about Interest Rates on Personal Loan
Axis Bank Personal Loan Tenure
The tenure of the personal loan is from 1 year to 5 years. The borrower can choose the duration according to their comfort.
Click to know more about EMI Calculator
Features of Axis Bank Personal Loan
- Firstly, the loan is given without any collateral. A personal loan is an unsecured loan, which means banks don’t ask for any security from the borrower.
- Secondly, there is minimal documentation with a quick process.
- It is easily sanctioned within 48-72 hours without any hassle.
- A personal loan can be used for various purposes like, paying previous bills, house renovation etc.
- The loan is directly given to the borrower without the involvement of the third party. It is a relationship between the borrower and the lender.
- Getting a personal loan is a hassle-free process. Online loan portals have made it even more convenient and easy for the customers. You can get the loan amount in your account without stepping out of your place.
Axis Bank Personal Loan Benefits
- First of all, the Axis Bank Personal Loan is easily accessible. You can apply online for a personal loan online anywhere in India.
- Secondly, the rate of interest in Axis bank personal loan is very reasonable; a person can easily afford it.
- The bank is well known in the country, you can easily trust the bank and its terms and conditions.
- The documentation process is very easy and simple in the Axis bank personal loan.
- If you are eligible, your loan gets sanctioned within a day.
- After the approval of your loan, the process of loan disbursal is very quick.
- You can use the loan amount according to your wish; the bank would not ask you the reason.
- The most important thing is that a personal loan is an unsecured loan, so there is no need for collateral.
- Lastly, there is no need of any guarantor.
How to Apply for Axis Bank Personal Loan ?
- You will have to visit www.dialabank.com.
- Go to the loan section and click on the personal loan link.
- The applicant will get all the details of the Personal Loan where they can read and understand more about the loan.
- We do not charge any extra fees from our customers.
- Get advice and guidance from the experts.
- The process is time saving if you apply through dialabank.
- The Loan gets disbursed in no time at all.
About Axis Bank
Axis Bank is one of the leading private sector banks in India. It is the third largest private sector bank, after HDFC and ICICI Bank. It is one of the most reliable and trusted banks of India. The bank has a very large customer base and nearly 1787 branches in the country and approximately 10,363 ATMs. It has ranked 9th among all scheduled Indian banks. The bank has presence not only in India but, also in several other countries. The bank has good reputation among the people and has a vast network across the country.
What is the minimum salary to get a personal loan?
To get a personal loan the minimum salary of the applicant should be Rs 18000 per month.
How is interest on personal loan calculated?
To calculate the personal loan interest rate you can use Personal Loan EMI Calculator.
How is EMI on a personal loan calculated?
E=P.R.(1+r) n/ ((1+r) n-1))
E is EMI
P is Principal Loan Amount
R is the rate of interest calculated every month.
Which bank gives the cheapest personal loan in India?
The ROI depends on your income, job profile and many other factors but Axis bank is the best at providing a personal loan at low interest rates.
How to use the loan calculator?
You just have to visit https://www.dialabank.com/emi-calculator.cfm. After that enter the amount of loan, tenure of loan and interest rate. Your EMI will automatically get calculated.
Should I prefer Axis bank for a personal loan?
Yes, Axis bank provides a very rational interest rate to the customers so you should prefer Axis Bank Personal Loan.
Other Personal Loan Providers