How Much Can I Get Personal Loan From Axis Bank?
Posted by Shrikant Kumar on September 10th, 2019
This is a fast credit facility where applicants can avail amounts up to Rs.15 lakh within 3 to 5 working days. At different stages, specific needs might arise in life which are best not to be put off for later. It could be for funding higher education expenses, wedding expenses, home renovation or painting. Axis Bank offers loan amounts at competitive interest rates to salaried employees starting from 15.75%.
Axis Bank Personal Loan Eligibility
Loan applicant must be a salaried employee. This includes salaried professionals like doctors, CAs, lawyers, employees of public and private companies, employees of the government sector including public sector undertakings like central and local bodies.
Your minimum monthly net income has to be Rs.15000.
As mentioned earlier, the minimum age of the applicant has to be 21 and at the time of loan maturity, age cannot be more than 60.
A CIBIL score of 750 and above is considered standard by most banks.
Documentation Required for Loan Process
This is the minimum criteria for salaried employees:
Application form: Fill out the loan form at your nearest Axis bank branch.
Two of your recent Passport Size Photos
Proof of Identity: Driving License/ PAN/ Passport/ Voter ID
Proof of Residence: Rent Agreement/ Passport/ Leave and License/ Utility Bill (up to 3 months old)
Income Tax PAN Copy
Income Documents - 2 years Form 16, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit.
Processing Fees: This loan has a nominal processing fee of 2%.
Pre-closure charges: Borrowers are allowed foreclose their loan without any fee.
Other Charges: In case of late EMI payment, EMI bounce case and loan cancellation, the terms are disclosed by the bank at the time of signing the loan agreement.
Features of Axis Bank Personal Loan
Fast Approval: Once you have applied for the Axis Bank Personal loan, the loan managers run a check on the eligibility criteria and process the loan with minimum documentation.
Flexible Repayment: Loan tenures range between 12 months to 60 months and applicants can choose the duration of repayment according to their financial capability.
Wider Eligibility: Any individual of the age 21 or above can get a personal loan from Axis Bank with minimum documentation. Salaried and self-employed individuals are both eligible for the personal loan.
Why Choose AXIS Bank Personal Loan?
The advantage of this loan is its same interest throughout the duration.
Simple documentation is needed and the personal loan in AXIS bank then gets processed faster.
The customers can pay off the loan in easy instalments every month and can repay it via auto debitor PDC or ECS.
Personal Loan Axis Bank interest rate ranges between 11% and 24% annually. Keep a check on this page to note the updated interest rate for Axis bank personal loan.
Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Axis Bank personal loan eligibility calculator at Loanbaba.com. You can apply online for Axis Bank Personal Loan at the bank's website.Also See: Personal Loan, Axis Bank, Bank Personal, Loan Eligibility, Personal, Loan, Bank