About Axis Bank Personal Loan

Axis Bank is considered the third largest private sector banking establishment in India that offers a wide range of financial products to the interested customers. The Bank is headquartered in Mumbai and had 3703 branches, 13,814 ATMs, 9 international offices and a total of 55,000 employees, as of March 31, 2018. Its spectrum of financial services encompass customers in the agriculture and retail businesses, corporate bodies and MSMEs.

The personal loan offered by Axis Bank is flexible, involves least amount of documentation and is approved quickly. Any salaried individual who gets regular income can apply for Axis Bank personal loan, for financing his/her personal requirements like home renovation, wedding expenses, children’s education, vacation etc. However, it should be kept in mind that Axis Bank offers personal loan only to salaried people and no such service is extended to self-employed professionals. Furthermore, you can even transfer your existing personal loans (at higher rates) to Axis bank. Below you can find more details on Axis Bank personal loan eligibility criteria, loan features and the pertinent fees/charges.

Personal Loan Eligibility Criteria for Salaried / Self-Employed

When it comes to Axis Bank personal loan eligibility criteria, you need to be minimum 21 years and maximum 60 years old (at the time of loan maturity). In addition, you should be a salaried employee, a salaried doctor and/or employed with a public or private limited company. Government sector employees including that of local bodies, central bodies and public sector undertakings are also eligible to apply. As mentioned earlier, self-employed professionals are not eligible for Axis Bank personal loan. Following are the exact eligibility criteria for salaried people looking for this personal loan product.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

₹ 4k – 65k

Minimum Income (Other Cities)

18 – 65 years

Age (Min – Max)

₹ 4k – 65k

Minimum Income (Metro Cities)

₹ 4k – 65k

Minimum Income (Other Cities)

₹ 4k – 65k

Minimum Income (Doctors/ Chartered Accountants)

₹ 4k – 65k

Minimum Income (Company Secretary / Architect)

₹ 4k – 65k

Minimum Income Self Employed (Businessman)

Axis Bank Personal Loan Features / Details

Regardless of the exact purpose that you need an Axis Bank personal loan for, you can get a loan amount ranging from INR 50,000 to INR 15 lakh with minimum amount of documents and quick approval. Personal loan transfers from other lenders (at higher rates) are allowed as well. The repayment tenure of the loan can be anywhere from 12 to 16 months and the bank ensures that you get the best possible interest rate. As there are active Axis Bank branches all over India, you will always find a loan centre close to you, even if you stay in a rural or semi-urban area of the country. With the upper limit of INR 15 lakh, Axis Bank personal loan is counted amongst the highest personal loan offering by any bank in its category. The interest rate offered might vary from time to time. Axis Bank also offers eDGE loyalty points on personal loans that can later be redeemed for various discounts and cash surplus. They have a dedicated helpline available round the clock for any personal loan related inquiries. Following are the exact updated Axis Bank personal loan features you should be aware of.

18.25%

Interest Rate (Min)

Upto XX Years.

Loan Tenure

₹ 25k – 50Lacs

Loan Amount (Min – Max)

Axis Bank Personal Loan Fees / Charges

As can be expected from any personal loan lender, there are certain charges applicable in case of Axis Bank personal loan as well. The bank charges 1.5% to 2% (plus GST) as loan processing fee. In case of a cheque bounce, a fee of INR 500 (plus GST) is levied. There are no foreclosure or prepayment charges. There is a cheque/instrument swap charge of INR 500 (plus GST) applied too. Other than that, there are charges related to duplicate statement issuance, duplicate interest certificate issuance, duplicate amortization schedule, CIBIL report issuance, stamp duty and charges for photocopy of the loan documents and agreement. Following are the updated details on these charges.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

₹ 2000

Part Payment Processing Fees