Axis Bank Personal Loan Full Details

Axis Bank 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 – March 2022
Interest rate10.25% p.a. onwards
Loan AmountRs 50,000- Rs 15 lakh
Tenure1-5 years
Minimum Monthly SalaryRs 15,000

Axis Bank Personal Loan Interest Rate – 2022

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.

Comparison of Axis Bank Personal Loan vs Other Lenders

Banks/NBFCsInterest Rates (p.a.)
Axis Bank10.25% p.a. onwards
HDFC Bank10.25% – 21%
SBI9.60% – 13.85%
PNB7.90% – 14.50%
ICICI Bank10.50% – 19%
Kotak Mahindra Bank10.25% onwards
IndusInd Bank11.00% onwards
IDFC First Bank10.49% – 23%
Bajaj Finserv13.00% onwards
Tata Capital10.99% onwards

Axis Bank Processing Fees & Charges

Repayment instruction/Instrument return chargesRs 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 chargesRs 250 per instance per set + GST
Duplicate Amortization Schedule issuance chargesRs 250 per instance per set + GST
Credit Information Companies Report issuance chargesRs 50 per instance per set + GST
No dues certificate generation charges (duplicate)Rs 50 per instance per set + GST
Stamp duty chargesAs per state stamp
Foreclosure chargesOn outstanding loan:For 0-12 months: 5%For 13-24 months: 4%For 25-36 months: 3%More than 36 months: 2%

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

Eligibility Criteria for Axis Bank Personal Loan

  • 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

Documents Required for Axis Bank Personal Loan

  • 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 Customer Care

Personal Phone Banking

You can call the following numbers between 9 am to 9 pm from Monday to Saturday (excluding national holidays).

For Retail Customers:

  • 1-860-419-5555
  • 1-860-500-5555

For Agri & Rural:

  • 1-800-419-5577
  • If you are calling from outside India, dial +91-22-67987700 (international call rates apply).
  • Axis Support: You can also find answers to your queries using online Axis Support. Select “Loan” > “Personal Loan”, your query details and click on “Submit”.
  • Axis Aha! (Live Chat): Alternatively, you can use Axis Aha!, the live chat feature provided by Axis Bank to get answers to your queries.

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.

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