Axis Bank Personal Loan – Interest Rate, Eligibility and Documentation
Axis Bank Personal Loan – Axis Bank is one of the leading private sector banks offering personal loans up to Rs 40 lakhs for salaried employees, self-employed and professionals.
Axis Bank personal loans offer easy eligibility, minimal documents, fast processing and flexibility of online applications.
Read on for complete details for applying for a multi-purpose personal loan from Axis Bank.
Key Details About Axis Bank Personal Loans
- Loan Amount – Minimum Rs 50,000 to Maximum Rs 40 lakhs
- Interest Rates – Starts from 10.49% per annum
- Loan Tenure – 12 months to 72 months repayment period
- Disbursal Time – 4-5 working days from loan approval
- Foreclosure Charges – Upto 2% of the outstanding loan amount
Eligibility Criteria for Getting An Axis Bank Personal Loan
To qualify for an Axis Bank personal loan, the applicant must:
- Be aged between 21 years to 60 years
- Be an Indian citizen residing in India
- Have 2+ years of work experience for salaried individuals
- Have 3+ years in business for self-employed individuals
- Have a good CIBIL score of 750 or above
- Have adequate and stable income to repay EMIs on time
- Have all KYC and income documents in place
So, by meeting the age, residency, credit score and income eligibility guidelines laid down by Axis Bank, you can apply for approval on a flexible personal loan scheme.
Documents Required To Apply For Axis Bank Personal Loan
When applying for an Axis personal loan, keep the below documents handy:
- Duly filled and signed application form
- Identity proof – PAN Card, Aadhaar, Passport etc.
- Residence proof – Voter ID, Utility bills, Rent Agreement
- Last three months salary slips (for salaried individuals)
- Form 16 and ITR (for salaried individuals)
- Business address proof (for self-employed)
- Last two years’ IT returns (for self-employed)
- Bank statements for the last six months
- Colour passport-size photograph
Attach clear copies of these KYC and income documents when submitting the personal loan application form through a branch visit or online submission process.
How To Apply Online For Axis Bank Personal Loan
Below are the steps to apply conveniently online from home for an Axis personal loan:
- Visit the official Axis Bank website or mobile/net-banking portal
- Go to the ‘Personal Loan’ section and select the application option
- Fill in all your personal, employment and income details accurately
- Select the required loan amount, tenure and repayment cycle
- Pay the processing fee online to complete the application
- Upload soft copies of your documents as per requirements
- Axis Bank verifies details based on eligibility, credit policies
- If approved, visit the nearest branch for document verification
- Post verification, loan amount disbursal will happen in 4-5 working days
Offline Application Process for Axis Personal Loans
Walk into the nearest Axis Bank branch and follow the below steps:
- Ask for personal loan application form and eligibility brochure
- Discuss required documents and criteria with branch staff
- Fill form with all the right personal information, job and income details
- Attach attested copies of KYC and income documents
- Submit the form along with documents to the branch representative
- Your eligibility will be checked basis of age, repayment capacity, credit score
- If found eligible, technical and legal checks will be done
- Post approval, visit the branch again for the final loan agreement signing
- After the agreement, the loan amount gets credited in 4-5 working days
So Axis Bank offers you multiple ways to apply through internet banking, mobile site/app or branch visit as per convenience.
Important Things To Know About Axis Bank Personal Loans
- Foreclosure allowed – You can prepay the full loan anytime without penalties
- Instant approval – In-principal approval is given within 2 minutes
- Xpress Credit – Digitally approve loans in just 2 hours
- Top-up loans – Allowed on existing loans in good standing
- Balance transfer – From high-rate loans of other banks to Axis
- Part-payment allowed – Pay lumpsum amounts to reduce interest
Axis Bank Personal Loan Interest Rates
Axis Bank offers very attractive interest rates starting from just 10.49% p.a. for personal loans based below aspects:
- A strong credit score of 750+ attracts the lowest rates
- Corporate worked for salaried applicants
- Business stability for self-employed applicants
- Choosing the auto-debit option for EMI payments
- Longer loan repayment tenure chosen
- Having an existing relationship with Axis helps
- Applying online leverages technological edge
Based on these parameters, Axis Bank promises the most reasonable interest charges on flexible personal loans for your multiple financial needs.
Personal Loan Tenure Offered By Axis Bank
You can customize your loan EMIs by choosing a repayment period that suits your budget best.
Axis Bank offers loan tenure options of:
- 12 months to 48 months – For loans amounting up to Rs 5 lakhs
- 36 months to 60 months – For loan amounts between Rs 5 lakhs to Rs 40 lakhs
While longer tenures reduce the EMI burden, your overall interest payable increases, therefore, carefully pick an appropriate personalized loan tenure so you can repay without default.
How To Check the Application Status of Axis Personal Loan
You can easily check the status of your Axis personal loan application made online/offline by:
- Mobile/Net Banking – Login to check ‘Loan Account Details’
- Call at Helplines – 18604194561 or 1800111355
The executives will guide you on the application stage and highlight if any document is pending from your end for processing the loan further.
On approval, they will share the probable date by which the loan amount should be disbursed into the linked bank account after document verification and procedural formalities are completed.
How To Contact Axis Bank for Personal Loan Queries
For any queries or help while applying for an Axis Bank personal loan, contact their customer care team:
- Call Toll-Free – 18604194561 or 1800111355
- Email Queries – email at support@axisbank.com
- WhatsApp Chat – Initiate chat text ‘Hi’ to 9717561111
- Visit Nearest Branch – Meet executives during working hours
This covers in detail the end-to-end process of how to get a multi-purpose personal loan from Axis Bank for all your lifestyle and financial needs conveniently. Apply online or visit the nearest branch today!
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