Apply For Axis Bank Personal Loan
through LoanMoneyIndia

• Minimum age of applicant: 23 years
• Maximum age of applicant at loan maturity: 60 years
• Minimum Net Monthly Income: Rs 25,000
• Loan Amount Offered: Rs 1 lakh to Rs. 40 Lakhs
• Minimum Service Period With Current Employer: One Year

• The income of the individual should be a minimum of Rs.25, 000 for availing a loan.
• Application Form which needs to be filled completely stating the necessary details like the personal details, occupational details, income details, etc.
• One Recent Passport size photograph
• PAN Card
• Current Residence proof (Like Adhar Card, Passport, Voter I-card, Any utility Bill
• IF Customer is staying on rent then Permanent address proof also require
• If customer satying on self-owned/Parental house then Ownership proof also require like Electricity Bill, Water Bill, House Tax Receipt.
• 3 Latest salary slips. The income of the individual should be a minimum of Rs.25 000 to be eligible for availing a loan.
• Bank statement of Latest 3 month ,which shows the banking activities of the applicant and helps in building the credit worthiness of the individual.
• One Year Job continuity proof
• Signature proof

Post-sanction / Pre-Disbursement Documentation
The bank requires other documents after sanctioning the loan and before disbursing the amount. The documents are as follows:

• Security Cheques required for SI and ECS (6 cheques)
• Loan Agreement duly signed by the customer
• Documentary proof required from customers may vary from case to case.

Axis Bank Personal Loan Interest Rate, fees and Other Charges

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Lowest Interest Rate	10.75%
Processing Fee	0.75% - 2.5% + GST (As applicable)
Loan Tenure	12 Months to 60 Months
Loan Amount	Rs 1 Lakh to Rs 40 Lakhs
Part PrePayment Charges	Allowed after 1 EMI’s, Nil Charges
Preclosure Charges	Allowed after 1 EMI’s, Nil Charges
Guarantor Requirement	No guarantor required

Other fees and Charges In Axis Bank Personal Loan

Loan Processing Charges	1.25% to 2.00% + GST as applicable
Cheque Bounce Charges	Rs. 500 per cheque bounce + GST as applicable
Cheque/ Instrument Swap charges	Rs.500 per instance + GST as applicable
Prepayment/ Foreclosure Charges	Nil
Default Interest Rate	@24.00% per annum i.e 2% per month on the overdue installment
Duplicate Statement Issuance Charges	Rs 250 per instance + Service Tax as applicable
Duplicate Amortization Schedule Charges	Rs 250 per instance + Service Tax as applicable
Duplicate Interest Certificate (Provisional/ Actual) issuance Charges	Rs 250 per instance + GST as applicable
Stamp Duty Charges	Rs. 50/- per instance per set+ GST as applicable
Issuance Charges for Photocopy of Loan Agreement/ Documents	Rs 250 per instance + GST as applicable

• Loan Amount & Tenure : Depending on your income and repayment capacity, decide upon the loan amount you need and for how much duration.
• Eligibility: Checkout eligibility criteria of different banks and identify in which one do you fit the most.
• Processing Time: For your immediate monetary requirements, knowing about the processing time of personal loan can be of great help.
• Interest Rate & other charges: Your complete loan experience depends upon the interest rate, processing charges, prepayment charges and other such charges. Know them beforehand to take a well-informed decision.
• Repayment History: Your financial health will define your credit worthiness. Make sure you have all the necessary documents to prove your strong credit history and income.
• Documentation: Jot down the list of documents required to apply for personal loan.
• Foreclosure: Do not ignore independent foreclosure policy and charges of different banks
• Annual income:Again, since there is no collateral, the banks want to be assured that you have a sufficient income (from salary and other sources) that will allow you to make your monthly repayments. The higher your income, the better your chances of being approved for a personal loan.
• EMI payment record: Lenders will look at your credit report to check if you have consistently demonstrated financial discipline and a pattern of timely EMI payments. If they see that you have regularly made payments and fulfilled your debt obligations, they will be inclined to view your loan application more favourably.
• It is generally advisable to have a credit score of 750 or above to qualify for a Personal Loan. The higher your score, the better are your chances of being approved.
• Your employment is also an important factor in the loan-approval process. Since personal loan customers do not provide any collateral, lenders need to make sure with the same employer for at least a year before you apply for a personal loan

With EMI calculator,you can calculate your monthly EMI or Equated Monthly Instalments that you’ll be liable to pay for your loan. Before you get a loan, you can calculate the EMI using the loan amount, interest rate and loan tenure, and it’ll show you precisely how much monthly payment you’ll be paying. Personal Loan, certainly, helps you to accomplish all your needs but always act smart, when it comes to applying and check all the aspects, including EMI.

Emi calculator allows you to do multiple other things. You can also use EMI Calculator to calculate EMIs for Home loan & Car loan . Your EMIs stay fixed for the full tenure of your loan. But, the components of your EMI, principal repayment & Interest payments, change with the tenure of your loan. But, the components of your EMI, principal repayment & Interest payments, change with the tenure.

EMI Calcutator

Q. Is there any charges or fee payable for availing Axis Bank Personal Loans?

Ans: No upfront processing fee charge to apply Personal Loan , at the time of Disbursement bank will deduct process fee from the loan amount with GST , Processing fee range from 0.75% of the loan amount to 2.50% of the loan amount.

Q. What is the period of repayment granted by the bank for Axis Bank Personal Loans?

Ans: Axis Bank offer a tenure ranging from 1 year to 5 years. It will effect your loan eligibility,

Q. Is Part Payment allowed in Axis Bank?

Ans: Yes part payment is allowed in Axis Bank , you can make 12 time part payment in 1 financial year.

Q: Why to take personal loan from Axis Bank?

Ans: Axis Bank offers Personal Loan from at 11.49% Rate, Pre-closure charges are NIL, Part payment facility also available.

Q: How much interest is charged by Axis Bank on personal loan?

Ans: Personal loan interest rates from Axis Bank are 10.75% to 22.50%.

Q: What is the lowest EMI per lakh on personal loan from Axis Bank?

Ans: If you apply for loan from Axis Bank your lowest EMI per lakh will be Rs. 2,187.

Q: What is the minimum and maximum tenure of Axis Bank Personal Loan?

Ans: You can repay your Axis Bank Personal Loan n a flexible period of minimum 12 months to maximum 60 months.

Q: How much Personal Loan amount I can borrow from Axis Bank?

Ans: Axis Bank offers you loan if you need a minimum amount of Rs. 100000 to a maximum amount of 40,00,000.

Q: How much processing fee is charged by Axis Bank on personal loan?

Ans: Axis Bank charges a processing fee of 0.75% to 2.50% with applicable GST

Q: Is age an eligibility factor to get Personal Loan from Axis Bank?

Ans: Yes, age is an important eligibility factor to get Axis Bank Personal Loan It should be at least 23 years old at loan approval time and 60 years old at loan maturity time.

Q: Are there any prepayment charges on personal loan from Axis Bank?

Ans: You can take personal loan from Axis Bank with NIL Prepayment charges

Q: Can I add my spouse's income while applying for personal loan from Axis Bank?

Ans: You cannot combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.