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Axis Bank Personal Loan Eligibility Calculator

Axis Bank Personal Loan Eligibility 2021

Last Updated 15th Jul 2021

Eligibility CriteriaSalaried
Profession that are eligible for Axis Bank Personal LoanSalaried people working in government, private or MNCs companies
Applicant Age21 - 60 years
  • High credit score and better financial stability lead to high personal loan eligibility from Axis Bank.
  • Axis Bank requires you to meet certain eligibility factors related to age, number of years of work experience and type of residence you live in to be able to get a personal loan.
  • Axis Bank calculates the amount of personal loan you are eligible for using a formula that includes your net take home salary and your existing loans or EMIs you have to pay currently.
Personal Loan Eligibility Calculator
Axis Bank Personal Loan Eligibility

Axis Bank offers various personal loan schemes and offers, at affordable rates to eligible customers. Axis Bank Personal loan eligibility is based on factors like age, salary, occupation and cibil score. You can avail personal loan from Axis Bank, even if you are salaried or self-employed. The eligibility criteria, however may be slight different for self employed. A detail information on these factors is mentioned in the further sections.

Axis Bank Personal Loan Eligibility based on Age
  • Age: The minimum age requirement for availing a Axis Bank personal loan is 21 years and the maximum age is 60 years.If you are aged below 21 years, you are considered as ineligble borrower as you might not fulfil the income criteria for the loan.
Axis Bank Personal Loan Eligibility based on Salary
  • Net Income : Your eligibility is determined by your net monthly income to understand so that your loan EMI’s are not affecting your living standards. Axis Bank asks for a minimum net income of ₹ 25,000 per month to avail a personal loan.
  • FOIR : FOIR (Fixed Obligation to Income Ratio) is an important parameter that is used to determine your Axis Bank personal loan eligibility. Axis Bank takes all your fixed obligations (like rent or current EMIs) into account while estimating your eligibility. Minimum FOIR required to be eligible for personal loan from Axis Bank is 0.45. Use Axis Bank personal loan eligibility calculator to estimate your eligibility and apply online for the eligible loan amount hassle-free.

Illustration- Mr. A who is 25 years old has a net income of ₹ 25,000. He wants to take a personal loan of ₹ 1 Lakh for 60 months. Axis Bank allows a maximum FOIR of 0.45.

Based on the information provided by the applicant, Axis Bank will calculate his eligibility using the eligibility calculator. With a salary of ₹ 25,000, the maximum amount he is eligible for is ₹ 5.24 Lakh. The interest he has to pay for this amount for 60 months is 10.49%.

Axis Bank Personal Loan Eligibility based on CIBIL Score

  • CIBIL Score: When checking eligibility for a personal loan, Axis Bank will check the your complete Credit report, including all past running loans and your payment track record on loans and credit cards. Higher credit score increases your the chances that your loan application from Axis Bank will get approved. However, a low CIBIL score decreases your eligibility to get a personal loan. Axis Bank requires a minimum credit score of 650 to be eligible for a personal loan.

Axis Bank Personal Loan Eligibility based on Occupation

There are other factors related to you occupation which are responsible for the approval of the loan by Axis Bank, as listed below:

  • Job stability and profession - Job stability is important to improve your eligibility to get a personal loan from Axis Bank. Your total work experience and current work experience are assessed to evaluate your job stability and profession. Axis Bank looks for a minimum total experience of 12 months and also looks for applicants who have been employed in the current job for a minimum of 1 months.
  • Residence place and stability – Banks are very particular about your place of residence. Axis Bank has a pre-decided list of areas where the bank will lend the loan. The bank also has a negative list of area of locations in which it will not lend depending on the past credit behavior of borrowers from such localities. Axis Bank also gauges your residential stability by checking on the number of years since when you have been staying in your current residence. If you are staying in your own residence, it improves your chance of getting a loan from Axis Bank. Minimum residence stability to be considered by the bank is 12 months.
  • Industry Type – Axis Bank has a negative list of professions and type of industry, defined as customer or industry segments to which they will not give the loan. So, your chances of getting a loan approval also depends on your profession and industry you are employed in.
  • Salary Mode – Axis Bank considers salary transferred to the bank account as a secure and stable income with adequate income proofs. If you are earning well but getting salary through cash or cheque,the bank will not give you the loan because the bank needs concrete evidence of your salary to support your loan amount. So, salary transfer mode of payment is preferred by Axis Bank if you apply for a personal loan.

How can I Check my Axis Bank Personal Loan Eligibility?

To check Axis Bank personal loan eligibility you need to follow these steps:

  • Login to Axis Bank website
  • Go to Axis Bank personal loan
  • Now, check the eligibility criteria using the Personal Loan Eligibility Calculator. For this fill the required details such as Name, loan requirements, salary, age, etc.

In Addition to this, you can also contact the bank at their customer care number, 1860-419-5555/ 1860-500-5555.

Axis Bank Personal Loan Eligibility for Self Employed

Axis Bank personal loan eligibility criteria for self employed is as follows:-

  • You must be an Indian citizen with a professional degree holder like CA, CS, Doctor, Architect etc with degree registration.
  • You must be minimum of 21 years at the time of loan application.
  • You must have filed ITR for atleast months to get a personal loan from Axis Bank.
  • You must have a gross annual reciept of more than .
  • Axis Bank checks your credit history to estimate your creditworthiness and your credit score must be above 650 to get a Axis Bank personal loan.

Other Loan Calculators

FAQs

What are the eligibility criteria to avail Axis Bank personal loan?

The minimum age of the applicant required to get a personal loan from Axis Bank is 21 year as the chances of meeting income eligibility criteria are very less below this age. The maximum age for salaried employees can go up to 60 years.

Is age an eligibility criteria to apply for a Axis Bank personal loan?

Yes, age is an eligibility criteria to apply for a Axis Bank personal loan. You should be of minimum 21 years to avail a loan from Axis Bank.

Am I eligible for Axis Bank personal loan if my CIBIL score is less than 300?

It is unlikely that you will be able to avail Axis Bank personal loan if your CIBIL score is less than 300. If you have a credit score less than 300 then it is considered bad and to avail a personal loan from Axis Bank, you must have a credit score above 650.

How can I improve my eligibility for Axis Bank personal loan?

To improve your Axis Bank personal loan eligibility you can add a co-applicant, maintain a high credit score, pay EMI’s and credit card bills on time and reduce your existing debts. These steps will help improve Axis Bank personal loan eligibility.

What should be my income to secure a personal loan from Axis Bank?

The minimum income for a salaried employee should be at least ₹ 25,000 per month to secure a personal loan from Axis Bank.However, the income criteria of Axis Bank may vary for metro cities, tier-1 or tier 2 locations.

How much work experience is required for personal loan from Axis Bank?

To get a personal loan from Axis Bank, you must be an earning individual working in a central/state government, private company or MNC.You must have a minimum work experience of 1 months for Axis Bank personal loan.

What is the maximum loan amount an applicant can get?

The maximum loan amount an applicant can get under a personal loan from Axis Bank is up to ₹ 25 Lakh.However, the eligibility criteria for every borrower is different as it is based on various factors like age, employment etc.

Will CIBIL Score affect my personal loan from Axis Bank?

Yes, CIBIL Score does have an impact on your personal loan. A good score indicates a good repayment record and hence most banks avoid giving loans if you have a low credit score. The minimum CIBIL score for personal loan is 650 and above.

Does adding a co-applicant increase personal loan eligibility?

Yes, adding a co-applicant increases your eligibility for a Axis Bank personal loan as it increases your repayment capacity. While availing loan from Axis Bank ensure that you add a co-borrower who has good income flow, limited fixed obligations and a strong credit score.

Do I need to have a guarantor to apply for Personal Loan from Axis Bank?

Personal loan is an unsecured loan, so Axis Bank assure that the amount gets repaid on time. However, if your credit score is good and there is no default in your past repayment history, then you do not need a guarantor to get a loan from Axis Bank .

Where can I get the company list which is eligible for Axis Bank personal loan?

Axis Bank does not prefer lending personal loans to companies identified under customer or industry segments. For details you can contact Axis Bank or can use the personal loan eligibility calculator.


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Axis Bank Personal Loan News - Jul 2021
  • 2021-07-09 : Axis Bank Q1 Net Profit seen up 95.2% YoY to Rs. 2,171.1 crores
    Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects Axis Bank to report a net profit of Rs. 2,171.1 crores up 95.2% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Two-wheeler Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 12.4% Y-o-Y to Rs. 7,851.8 crores.
  • 2021-04-07 : Axis Bank becomes the new promoter of Max Life
    Axis bank along with its subsidiary Axis Capital and Axis Securities became the new promoter of Max life. The Bank has a stake of 12.99% on Max Life.
  • 2021-03-05 : Axis Bank launches WhatsApp banking
    Axis Bank launched banking services on WhatsApp. The new facility will enable its retail customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time.
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-01-28 : Axis Bank Q3 net profit down 36%
    Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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