Axis Bank offers personal loan at fixed interest rates of 10.25% p.a. onwards, for a loan amount of up to Rs 15 lakh, and for tenures of up to 5 years. Axis Bank also offer pre-approved instant personal loan with digital processing and without any paperwork. Axis Bank has also tied-up with Paisabazaar.com to offer pre-qualified customised personal loans to select customers with end-to-end digital processing and quick disbursals.
| Axis Bank Personal Loan Highlights –2024 | |
| Interest rate | 10.25% p.a. onwards |
| Loan Amount | Rs 50,000- Rs 15 lakh |
| Tenure | 1-5 years |
| Minimum Monthly Salary | Rs 15,000 |
Axis Bank Personal Loan Interest Rate
Axis Bank personal loan interest rate starts @ 10.25% p.a. The final interest rates offered to the personal loan applicants depend upon the credit score, age, monthly income, employer’s profile, job profile, etc.
Axis Bank Processing Fees:
| Repayment instruction/Instrument return charges | Rs 339 per instance + GST |
| Swap Charges (Cheque/Instrument) | Rs 500 per instance + GST |
| Penal Interest | @ 24% p.a. i.e., 2% per month on overdue installment |
| Duplicate statement issuance charges | Rs 250 per instance per set + GST |
| Duplicate Amortization Schedule issuance charges | Rs 250 per instance per set + GST |
| Credit Information Companies Report issuance charges | Rs 50 per instance per set + GST |
| No dues certificate generation charges (duplicate) | Rs 50 per instance per set + GST |
| Stamp duty charges | As per state stamp |
| Foreclosure charges | On outstanding loan:For 0-12 months: 5%For 13-24 months: 4%For 25-36 months: 3%More than 36 months: 2% |
Apply for a Personal Loan online with minimal documentation
Types of Axis Bank Personal Loan:
Personal Loan for Holiday
- Purpose: To meet the financial needs for a holiday/vacation.
- Loan Amount: Rs 50,000-Rs 15 lakh
- Tenure: 1-5 years
Personal Loan for Wedding
- Purpose: To meet the financial needs for wedding
- Loan Amount: Rs 50,000-Rs 15 lakh
- Tenure: 1-5 years
Personal Loan for Home Renovation
- Purpose: To meet the financial requirements for home renovation
- Loan Amount: Rs 50,000-Rs 15 lakh
- Tenure: 1-5 years
Axis Bank Personal Loan Eligibility Criteria:
- Salaried Employees such as doctors, employees of private and public limited companies, and employees of government sectors, Public Sector Undertakings, Local and Central bodies
- Age
- Minimum: 21 years
- Maximum: 60 years at the time of loan maturity
- Minimum Net Monthly Income: Rs 15,000
Apply for a Personal Loan onlinewith minimal documentation.
Axis Bank Personal Loan Documents Required
- Completely filled application form with recent passport size photographs
- KYC documents (driving license, passport, Aadhaar card, job card by NREGA duly signed by a State Government officer, voter ID, Letter issued by National Population Register with name and address details)
- Proof of Birth date (birth certificate, PAN card, passport, school leaving certificate, Aadhaar card, driving license)
- Signature proof (passport, bank verification, PAN card)
- Income proof (last 2 months pay slips. Employment proof of 1 year, bank statement for last 2 months showing salary credits)
- All the documents should be self-attested
Axis Bank personal loan Customer Care:
- 1-860-419-5555
- 1-860-500-5555
- Non Toll Free Number: +91 40 67174100
Axis Bank Personal Loan Features:
- Flexible repayment tenures
- Competitive interest rates
- 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
Axis Bank Personal Loan Charges:
| Schedule of charges | Fees |
| Penal Interest | 24% p.a. |
| 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)
Axis Bank Personal Loan Eligibility Criteria:
Here are the eligibility criteria for Axis Bank personal loans:
| Age | Minimum: 21 years Maximum: 60 years |
| Employment Type | Salaried employeesPrivate limited compamy employeesGovernment employees including PSU,Central and local bodies. |
| Net Salary | Rs.15,000 per month |
Axis Bank Personal Loan Documents:
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
Documents you need to submit post sanction/pre-disbursement:
- Duly signed loan agreement
- ECS form/Standing Instruction Request
- KYC documents
How to Calculate Axis Bank Personal Loans EMI?
Calculate your EMI within a minute the help of BankBazaar Axis Bank Personal Loan EMI Calculator. All you need to do is fill in the required fields with your preferred loan amount, interest rate, tenure, and processing fee. Click “Calculate” to check your EMI. You can also view a detailed break-up of your repayment schedule via an amortisation table.
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 12% 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 Paid | EMI (principal + interest) | Balance Amount |
| 2021 | Rs.65,332 | Rs.5,748 | Rs.71,080 | Rs.34,668 |
| May | Rs.7,885 | Rs.1,000 | Rs.8,885 | Rs.92,115 |
| Jun | Rs.7,964 | Rs.921 | Rs.8,885 | Rs.84,151 |
| July | Rs.8,043 | Rs.842 | Rs.8,885 | Rs.76,108 |
| Aug | Rs.8,124 | Rs.761 | Rs.8,885 | Rs.67,984 |
| Sep | Rs.8,205 | Rs.680 | Rs.8,885 | Rs.59,779 |
| Oct | Rs.8,287 | Rs.598 | Rs.8,885 | Rs.51,492 |
| Nov | Rs.8,370 | Rs.515 | Rs.8,885 | Rs.43,122 |
| Dec | Rs.8,454 | Rs.431 | Rs.8,885 | Rs.34,668 |
| 2022 | Rs.34,669 | Rs.871 | Rs.35,540 | Rs.0 |
| Jan | Rs.8,538 | Rs.347 | Rs.8,885 | Rs.26,130 |
| Feb | Rs.8,624 | Rs.261 | Rs.8,885 | Rs.17,507 |
| Mar | Rs.8,710 | Rs.175 | Rs.8,885 | Rs.8,797 |
| Apr | Rs.8,797 | Rs.88 | Rs.8,885 | Rs.0 |
Axis bank personal loan EMI calculator
[CP_CALCULATED_FIELDS id=”8″]
Compare Axis Bank Personal Loan with Other Personal LoanLenders
| Particulars | Axis Bank Personal Loan | HDFC Bank Personal Loan | Citibank Personal Loan | Aditya Birla Capital |
| Interest rate | 12% p.a. onwards | 10.5% p.a. onwards | 9.99% p.a. onwards | 14% p.a. onwards |
| Processing fee | 2% + GST | 2.5% + GST | upto 3.00% + GST | 2% of the loan amount |
| Foreclosure charges | 2%-5% | 2% to 4% of the outstanding loan amount | 4% of the principal outstanding | Contact the bank for details |
| Late payment fee | 2% of the overdue amount per month | 2% of the overdue amount per month | Contact the bank for details | At the discretion of the lender |
FAQs
Q. Does Axis Bank provide pre-approved loans?
Ans. Yes, Axis Bank provides pre-qualified instant personal loans to its select customers with end-to-end digital processing.
Q. What is the turnaround time for Axis Bank personal loan disbursal?
Ans. Axis Bank claims to offer quick processing of personal loan while not disclosing the exact turnaround time for personal loan disbursal. However, the pre-qualified personal loan offered by Axis Bank have quicker disbursals, usually within the same day of making loan application. Click here to find whether you qualify for Axis Bank pre-qualified personal loan
Q. Can I choose between a fixed or floating rate for the personal loan?
Ans. Axis Bank Personal Loans are offered only on fixed interest rates. Axis does not offer personal loans on floating interest rates.
Q. Can I use Axis Bank personal loan for any purposes, including for commercial or business purpose?
Ans. Axis Bank personal loan can be used for all personal purposes, except for speculation. It can also be used by the entrepreneurs for expanding their business. The loan is sanctioned based on the credit history of the entrepreneur.
Q. Does Axis Bank allow Personal Loan Balance Transfer option?
Ans. Yes, Axis Bank allows Personal Loan Balance Transfer option where the existing personal loan borrowers of other banks/NBFCs can transfer their personal loan to Axis Bank at lower interest rates.
Q. At what minimum CIBIL score can I avail personal loan in Axis Bank?
Ans. Axis Bank has not specified a cut off credit score for availing personal loan. However, personal loan applicants having credit score of 750 and above usually have higher chances of availing personal loan at lower interest rates.