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Axis Bank Personal Loan Calculator

Axis Bank Personal Loan EMI Calculator, Oct 2021

Last Updated 21st Oct 2021

  • Personal loan EMI in Axis Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Axis Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,149 per lakh on Axis Bank Bank personal loan as calculated using the lowest interest rate of 10.49% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on Axis Bank Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,814₹ 3,250₹ 2,149
₹ 5 Lakh₹ 44,072₹ 16,249₹ 10,744
₹ 10 Lakh₹ 88,144₹ 32,498₹ 21,489

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Personal Loan EMI Calculator Axis Bank

Axis Bank Personal Loan EMI is a fixed amount of money paid by you to Axis Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Axis Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Axis Bank. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Axis Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Axis Bank personal loan which can range between 10.49% to 17.25%.
  • Compare Axis Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Axis Bank with that of leading banks in India using the same loan amount of upto ₹ 25 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on Axis Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Axis Bank over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Axis Bank or balance transfer to another bank.

Axis Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Axis Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Axis Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 10.49%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Axis Bank personal loan plan for you.Personal Loan EMI is calculated for Axis Bank for different loan amounts and tenures at the rate of 10.49%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,637 ₹ 3,250 ₹ 2,149
3 Lakh ₹ 13,911 ₹ 9,749 ₹ 6,447
5 Lakh ₹ 23,186 ₹ 16,249 ₹ 10,744
10 Lakh ₹ 46,371 ₹ 32,498 ₹ 21,489

Factors Affecting Axis Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Axis Bank gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 25 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Axis Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Axis Bank is 10.49%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Axis Bank. So, your EMI will be lower if you take a 60months loan from Axis Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Axis Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Axis Bank10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
IndusInd Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
IDFC First Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
Federal Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
Tata Capital 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144

Axis Bank Personal Loan Amortization Calculator

Axis Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Axis Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3.50 Lakh for 3 years from Axis Bank at an interest rate of 10.49%. EMI calculated for this loan amount is ₹ 11,374 and the total annual EMIs to be paid annually is ₹ 1,36,490. The EMI schedule of loan for 3 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3.50 Lakh over the 3 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 8,960 ₹ 25,163 ₹ 34,123 ₹ 3,24,837
2022 ₹ 29,005 ₹ 1,07,485 ₹ 1,36,490 ₹ 2,17,352
2023 ₹ 17,172 ₹ 1,19,319 ₹ 1,36,490 ₹ 98,033
2024 ₹ 4,335 ₹ 98,033 ₹ 1,02,368 -₹ 0

In the above illustration, on a Axis Bank Personal Loan of₹ 3.50 Lakh, taken at the lowest interest rate of 10.49, EMI paid is ₹ 11,374 and an annual total of EMIs is ₹ 1,36,490, the interest component is ₹ 31,775 while the principal component is ₹ 1,04,715 in year 1 of loan disbursement. You repay only 29.92% of the total principal after paying 12 EMIs during the first year.

Axis Bank Personal Loan Interest Calculator Formula

Axis Bank calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Axis Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Axis Bank personal loan amount can range from ₹ 50,000 to ₹ 25 Lakh.

r = Rate of interest per month. The current Axis Bank Personal Loan rate is 10.49%.
n = Tenure in month. This can range up to 60months in case of Axis Bank.

How to use Axis Bank Personal Loan EMI Calculator

  • Axis Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Axis Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Axis Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows Axis Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 10.49%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00010.49% 1₹ 8,814
₹ 1,00,00010.49% 2₹ 4,637
₹ 1,00,00010.49% 3₹ 3,250
₹ 1,00,00010.49% 4₹ 2,560
₹ 1,00,00010.49% 5₹ 2,149

Axis Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows Axis Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 10.49%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00010.49% 1₹ 26,443
₹ 3,00,00010.49% 2₹ 13,911
₹ 3,00,00010.49% 3₹ 9,749
₹ 3,00,00010.49% 4₹ 7,680
₹ 3,00,00010.49% 5₹ 6,447

Axis Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows Axis Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 10.49%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00010.49% 1₹ 44,072
₹ 5,00,00010.49% 2₹ 23,186
₹ 5,00,00010.49% 3₹ 16,249
₹ 5,00,00010.49% 4₹ 12,799
₹ 5,00,00010.49% 5₹ 10,744

Axis Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows Axis Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 10.49%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00010.49% 1₹ 88,144
₹ 10,00,00010.49% 2₹ 46,371
₹ 10,00,00010.49% 3₹ 32,498
₹ 10,00,00010.49% 4₹ 25,599
₹ 10,00,00010.49% 5₹ 21,489

How to Pay Axis Bank Personal Loan EMI?

There are various online & offline methods to pay your Axis Bank Personal Loan EMI. To repay your Axis Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of Axis Bank. Axis Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Axis Bank branch.

FAQs

Why should I calculate Axis Bank loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Axis Bank personal loan EMI. For instance, if you want to avail Axis Bank personal loan at the lowest rate of 10.49% and your monthly EMI, which comes out at ₹ 2,149 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the future when you have a surplus amount.

What is the lowest EMI per lakh offered by Axis Bank on a personal loan?

Axis Bank offers a personal loan at a 10.49% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,149. However, Axis Bank may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

How can I pre-close Axis Bank personal loan?

You can pre-close your Axis Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Axis Bank ?

Axis Bank offers you an option of prepayment after 1 months at For Loan Amt Approved of 10 Lacs and above-- 0% FC charges after 12 EMIs if closure through OWN FUNDS,1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Axis Bank?

Yes, Axis Bank charges a certain amount of processing fee to process your loan application. Currently, Axis Bank charges a processing fee of Rs.4,999 on a Personal Loan.

Will I get a personal loan from Axis Bank if I have a bad credit score?

No, for taking a loan from Axis Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Axis Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Axis Bank Bank?

At the current rate of 10.49%, EMI on Axis Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,13,250, ₹ 2,25,051 and ₹ 2,62,397 respectively.

Can I have a co-applicant while applying for a Personal loan with Axis Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Axis Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Axis Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your Axis Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Axis Bank loan EMI?

You can pay the Axis Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Axis Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 0522-2230857
Ahmedabad 079-26563232
Ambala 0172-2620489
Anand 079-26563232
Aurangabad Bihar 022-25260501
Bangalore 080-25317830
Bhilai 1800-209-5577
Bhilwara 1800-209-5577
Bhiwadi 022-25260501
Bhopal 0755-2579009
Bhubaneswar Cuttack 0674-2572955
Bikaner 1800-209-5577
Chandigarh 0172-2620489
Chennai 044-28123888
Cochin 1800-209-5577
Coimbatore 044-28123888
Dehradun 1800-209-5577
Delhi 011-23736555
Durg 1800-209-5577
Faridabad 0124-2309447
Gandhinagar 079-26563232
Ghaziabad 0522-2230857
Goa 022-25260501
Greater Noida 011-23736555
Gurgaon 0124-2309447
Guwahati 0361-2341818
Gwalior 0755-2579009
Hyderabad 040-23418888
Indore 0755-2579009
Jabalpur 0755-2579009
Jaipur 0141-2228866
Jalandhar 0172-2620489
Jodhpur 1800-209-5577
Kanpur 0522-2230857
Karnal 0124-2309447
Kolhapur 022-25260501
Kolkata 033-22839971
Kota 1800-209-5577
Kozhikode 0471-2558588
Lucknow 0522-2230857
Ludhiana 0172-2620489
Madurai 044-28123888
Meerut 0522-2230857
Mehsana 079-26563232
Mohali Sas Nagar 0172-2620489
Mumbai 022-25260501
Mussoorie 1800-209-5577
Nagpur 022-25260501
Nashik 1800-209-5577
Noida 011-23736555
Noida Extn 011-23736555
Panipat 0124-2309447
Patna 0612-2205810
Pondicherry 1800-209-5577
Pune 022-25260501
Raipur 1800-209-5577
Rajkot 079-26563232
Ranchi 1800-209-5577
Rohtak 0124-2309447
Roorkee 1800-209-5577
Salem 044-28123888
Shimla 0177-2627711
Sonipat 0124-2309447
Surat 079-26563232
Trichy 044-28123888
Udaipur 1800-209-5577
Vadodara 079-26563232
Varanasi 0522-2230857
Vijaywada 1800-209-5577
Vizag 1800-209-5577

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Axis Bank Personal Loan News - Oct 2021
  • 2021-10-12 : Axis Bank Has Launched Open API For Customers
    Axis Bank unveils open APIs (Application Programming Interface), these APIs will help retail and corporate customers/ partners to use banking services integrated across partner platforms. This banking portal has retail as well as corporate products like loans, accounts, deposits, payments, trade, collections and bills.
  • 2021-09-22 : Axis Bank Introduces Festive Offer on Personal Loan
    Axis Bank offers the lowest personal loan rate of 10.25% as a festive offer. The rates are applicable for a loan amount of 15 Lakhs and above.
  • 2021-09-02 : Axis Bank Personal Loan Rates Changed
    The personal loan rates for Axis Bank have changed for new and BT offers. The Bank is now offering personal loans for new & BT cases starting at 10.25% & 10.49%, respectively.
  • 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.
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