Axis Bank Personal Loan Key Features
|Axis Bank Personal Loan at a Glance|
|Interest Rate||Starts at 12 – 14%|
|Lowest EMI per lakh||₹2224 for a tenure of 60 months|
|Tenure||12 to 36 months (Can be extended)|
|Processing Fee||2% + GST|
|Prepayment Charges||Up to 4%|
Each Feature Explained in Detail Below
Benefits of Axis Bank Personal Loan
- A loan without any collateral-security: A Personal Loan is an unsecured loan. Bank don’t ask for any collateral-security from the applicant. So, there is no necessity of mortgaging your assets for the funds. It is purely credited as per the customer’s credentials.
- Simple-Documentation: Personal Loans are hassle-free and easy. You can get it with minimal documentation and quick disbursal. Banks need some essential papers of the borrower like identity proof, address proof, income proof, etc.
- Loan Amount: The amount can range from Rs. 50,000 to Rs. 20 lakhs.
- Quick Loan-Approval: It is easily sanctioned within 48 to 72 hours without any hassle. After getting the papers, banks will verify the given details, and the loan gets disbursed within 24 hours of checking.
- Multi-purpose finance: Personal loan is used for various purposes, i.e. in paying past bills, home-renovation, wedding-shopping, financing travel-trips and much more.
- No Third-party involvement: The loan amount is directly sanctioned to the applicant without the interruption of a third-party. It is a strict and dedicated relationship between the lender and the borrower.
- Hassle-free Loan: Availing personal loan is now a swift process. Online bank loan portals have made it even more convenient. You can get the loan amount in your account without stepping out of your home.
Axis Bank Personal Loan Eligibility
There are some criteria which the applicant needs to fulfil to avail Axis Personal Loan such as credit rating, monthly income, your previously availed loans, repayment capability, etc. There are two categories of applicants: salaried and self-employed.
|CIBIL score||750 and Above|
|Min Income||Rs 25000/month|
Axis Bank Personal Loan Interest Rates, Fees and Charges
|Personal Loan Rate||12% – 24%|
|Repayment Instruction||Rs 500 + GST|
|Penal Interest||24% per annum|
|Duplicate Statement Issuance Charges||Rs. 250/set|
|CICs Report Issuance Charges||Rs 50/ instance + GST|
|Repayment Instruction/ Instrument Return Charges||Rs.500/- per instance of dishonour of cheque /SI/ECS/NACH debit instruction + GST as applicable|
|Swap Charges (Cheque/ Instrument)||Rs. 500/- per instance + GST as applicable|
|Penal Interest||24% per annum, i.e. 2% per month on the overdue instalment.|
|Duplicate statement issuance charges||Rs.250/- per instance per set + GST as applicable.|
|Duplicate Amortization schedule issuance charges||Rs.250/- per instance per set + GST as applicable.|
|Re-Issuance of a photocopy of loan agreement/documents||Rs.250/- per instance per set + GST as applicable.|
|Credit Information Companies (CICs) Report Issuance Charges||Rs. 50/- per instance per set + GST as applicable|
|Duplicate NOC||Rs. 500/- per instance per set + GST as applicable.|
|Stamp Duty Charges||As per the State Stamp Act|
Axis Bank Personal Loan Documents
Documentation for Personal Loans may vary according to the profiles. Before issuing a loan, the banks ensure the repayment capacity of the borrower. The Axis 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.
Duly filled application form
Proof of Identity
> Driving License
> Aadhar Card
> Voter ID Card
Proof of Address
Rent Agreement (Min. 1 year of stay)
Passport (Proof of permanent residence)
Proof of Income
> ITRs : Last two Assessment years
> Salary Slip: Last 6 months
> Bank Statement: Last 3 months
Personal Loan EMI Calculator for Axis Bank
Axis Bank Personal Loan Comparison with Other Banks
|Comparison Criteria||Axis Bank||HDFC Bank||Citibank||ICICI Bank||Bajaj Finserv|
|Interest Rate||12-24%||10.75-21.30%||10.50% onwards||11.25-22.00%||12.99% onwards|
|Tenure||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 40 lakh||Up to Rs. 30 lakh||Upto Rs. 20 lakh||Up to Rs. 25 lakh|
|Processing Fee||Up to 2% of the loan amount plus GST||Up to 2.50% of the loan amount||Up to 3% of the loan amount||Up to 2.25% of loan amount plus GST||Up to 4.13% of the loan amount (including taxes)|
How to apply for Axis Bank Personal Loan?
- Getting a personal loan is very simple; all you got to do is:
- Firstly visit www.dialabank.com and fill the application form appropriately.
- We’ll contact you with the best personal loan plans.
- Our Relationship Manager will assist you through the entire process.
Why should you apply for the Axis Bank Personal Loan with Dialabank?
Contact us at 9878981166 to avail Axis Bank Personal Loan.
How to Calculate EMIs for Axis Bank Personal Loan
You can calculate the EMIs on your loan; you just require the basic information concerning the loan –
- Loan Amount
- Interest Rate
- Tenure of Loan
Simply put these values in the calculator below to find the exact amount payable each month.
Axis Bank Personal Loan Processing Time
Axis Bank usually takes two weeks or 15 days when it comes to the Processing of Personal Loan Applications. However, Axis Bank approves the loan in just a few hours to maximum of 1-3 days to its pre-approved already existing account holders.
Axis Bank Personal Loan Preclosure
Axis Bank gives you the choice of fore-closing your loan after a term of a min 12 months of receiving the loan and paying 12 successful EMIs on your mortgage. However, Axis Bank charges a Prepayment or Pre-closure charge; if you wish to do so we have listed the fees below:
|13 to 24 months||4%|
|25 to 36 months||5%|
|more than 36 months||2%|
Pre Calculated EMI for Axis Bank Personal Loan
|Loan Amount (Rs.) and Interest Rate||Monthly EMI Payout (Rs.)|
|1-year loan tenure||2-year loan tenure||3-year loan tenure||4-year loan tenure||5-year loan tenure|
|2 lakh @ 12% p.a.||17,769||9,414||6,642||5,266||4,448|
|5 lakh @ 14% p.a.||44,893||24,006||17,088||13,663||11,634|
|4 lakh @ 15% p.a.||36,103||19,394||13,866||11,132||9,515|
Click to know more about EMI Calculator.
Axis Bank Personal Loan Balance Transfer
Personal Loan Balance Transfer means the process where you shift your loan from one bank to another. In this, your recent bank pays off your previous loan and gives you credit. You get many several benefits if you do this, but you may have to provide the foreclosure with charges associated with that loan with the Processing fee on your new credit. Some of the merits are listed here –
- Lower-Interest Rate
- Extended-Tenure for the Repayment
- You might also get additional features associated with your loan, such as no processing fee, etc. based on your Cibil score.
Axis Bank Personal Loan Top Up
The top-up facility on your loan is the additional amount that you borrow from the bank on your existing mortgage. Axis Bank lets you avail this feature if you have paid at least around nine regular EMIs without any breaks in payment. You will get a top-up of min ₹50,000 and a max of your already sanctioned loan amount.
How to Apply Online for Axis Bank Personal Loan?
Apply for Axis Bank Personal Loan online by visiting the Axis Banks online website and filling the loan form for applying for a personal loan, or you can simply follow the given steps for applying for an Axis Bank Personal Loan –
- Visit DialaBank website.
- Fill the Loan Application form and submit it.
- Wait for an instant callback from one of our Relationship Managers who are trained experts in the field.
- Get personalized assistance for availing Personal Loan by comparison between features of individual banks and choosing the one which is personalized according to your needs.
Axis Bank Personal Loan Status
You can check the status of your Axis Bank Personal Loan by the following ways –
- You can also visit your lending branch and ask the banker for the same.
- Log In to the Axis Bank web portal, Click on loans from the top ribbon and click on Enquire to check your loan status.
- Enter your loan application number on Axis Bank site and fill the required information for checking the status of your loan by just clicking on ‘Track’.
FAQs About Axis Bank Personal Loan
✅ What is Axis Bank personal loan?
An Axis Bank personal loan is one of the leading borrowing options available in India that provides you with instant and hassle-free personal loans that come with zero foreclosure charges. You can use Axis Bank personal loan for a variety of your financial needs. The minimum loan amount that can be availed starts at ₹50,000 and go to a maximum of ₹15 lakhs.
✅ How does Axis Bank personal loan work?
To avail a personal loan from Axis Bank firstly, your eligibility is decided based on your monthly income and credit history. You can apply for Axis Bank personal loan and meet all your financial needs by simply visiting the nearest branch with your documents and asking for the same. After verification of your eligibility, you will be given the loan amount at an interest rate as applicable. The repayment of your loan will comprise of monthly instalments, EMIs.
✅ What is the personal loan rate of interest in Axis Bank?
The personal loan rate of interest in Axis Bank starts at 12% per annum and is a maximum of 24% per annum. The price of interest depends on your credit score, loan amount, loan tenure, company’s profile, and your relationship with the bank.
✅ How can I get the Axis Bank personal loan?
You can quickly get a personal loan from Axis Bank by visiting their branch with your KYC documents and income proof. The banker will verify them and check your CIBIL score to either approve or reject your loan application. Once approved, you will get the loan amount in your bank account, which can be used for any personal financial need.
✅ How to apply for a personal loan in Axis Bank?
You can apply for Axis Bank personal loan in some ways, you can either visit the nearest branch with your documents and ask for a personal loan, or you can simply relax back at your home and apply online with Dialabank to avail personalized assistance and other benefits.
✅ How much is EMI available on Axis Bank personal loan?
The EMI available on Axis Bank personal loan starts at ₹2224 for 60 months. Your EMI varies depending on your loan tenure, loan amount, and rate of interest.
✅ How much CIBIL score required for Axis Bank personal loan?
The CIBIL score required for Axis Bank personal loan is 750 and above.
✅ What is the minimum credit score needed for Axis Bank personal loan?
The minimum credit score needed for Axis Bank personal loan is 750 to consider your application for approval.
✅ How to calculate Axis personal loan EMI?
To calculate Axis Personal loan, you can easily use any EMI calculator present on the internet to calculate an estimated monthly instalment based on just three parameters, your loan amount, loan tenure, and rate of interest. You can also visit Dialabank’s digital platform and use our EMI calculator for this purpose and simultaneously check offers from different banks and finance companies across India.
✅ What can I use Axis Bank personal loan for?
You can use Axis Bank personal loan to fund a wedding, a vacation, an event, bills and expenses, repair and renovation, payment of other investments, etc.
✅ Can I prepay the Axis Bank personal loan?
Yes, you can prepay your Axis Bank personal loan by applying for the same at your loan branch. Axis Bank does not charge you any foreclosure fees.
✅ How to prepay Axis Bank personal loan?
You can prepay your loan from Axis Bank once you have enough funds to repay the entire loan amount. You can simply visit the Axis Bank branch and apply for preclosure of your loan. Axis Bank charges zero foreclosure fees and the process to pre-close your credit is also easy and hassle-free.
✅ How to repay the Axis Bank personal loan online?
You can repay the Axis Bank personal loan online through net-banking by visiting the online portal of Axis Bank.
✅ What documents are needed for Axis Bank personal loan?
The documents needed for your loan in Axis Bank are your primary KYC documents like Aadhar Card, PAN Card, Voter ID, and income proofs like a bank statement and salary slip along with a duly filled in and signed application form.
Table of Contents
- 1 Axis Bank Personal Loan Key Features
- 2 Benefits of Axis Bank Personal Loan
- 3 Axis Bank Personal Loan Eligibility
- 4 Axis Bank Personal Loan Interest Rates, Fees and Charges
- 5 Axis Bank Personal Loan Documents
- 6 Personal Loan EMI Calculator for Axis Bank
- 7 Axis Bank Personal Loan Comparison with Other Banks
- 8 How to apply for Axis Bank Personal Loan?
- 9 Why should you apply for the Axis Bank Personal Loan with Dialabank?
- 10 How to Calculate EMIs for Axis Bank Personal Loan
- 11 Axis Bank Personal Loan Processing Time
- 12 Axis Bank Personal Loan Preclosure
- 13 Pre Calculated EMI for Axis Bank Personal Loan
- 14 Axis Bank Personal Loan Balance Transfer
- 15 Axis Bank Personal Loan Top Up
- 16 How to Apply Online for Axis Bank Personal Loan?
- 17 Axis Bank Personal Loan Status
- 18 FAQs About Axis Bank Personal Loan
- 18.1 ✅ What is Axis Bank personal loan?
- 18.2 ✅ How does Axis Bank personal loan work?
- 18.3 ✅ What is the personal loan rate of interest in Axis Bank?
- 18.4 ✅ How can I get the Axis Bank personal loan?
- 18.5 ✅ How to apply for a personal loan in Axis Bank?
- 18.6 ✅ How much is EMI available on Axis Bank personal loan?
- 18.7 ✅ How much CIBIL score required for Axis Bank personal loan?
- 18.8 ✅ What is the minimum credit score needed for Axis Bank personal loan?
- 18.9 ✅ How to calculate Axis personal loan EMI?
- 18.10 ✅ What can I use Axis Bank personal loan for?
- 18.11 ✅ Can I prepay the Axis Bank personal loan?
- 18.12 ✅ How to prepay Axis Bank personal loan?
- 18.13 ✅ How to repay the Axis Bank personal loan online?
- 18.14 ✅ What documents are needed for Axis Bank personal loan?