Axis Personal Loan Interest Rate Calculator - Oct 2016

Axis Bank Personal Loan Interest Rates

Last Updated 24th Oct 16

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Axis Bank Personal Loan Interest Rate 15.50% - 24.00%
Lowest EMI Rs. 2,405 per lakh
Loan Tenure From 12 months to 60 months
Loan Amount Min Rs. 50,000 and Max Rs. 2,500,000
Processing Fee Upto 2.00%
Age Min 23 years and Max 65 years
Prepayment Charges Allowed after 1 EMI's, Nil prepayment charges
Foreclosure Charges Allowed after 1 EMI's, Nil prepayment charges
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 Salaried   Self Employed - Professional   Self Employed - Business 

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Axis Bank Personal Loan

Axis Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from Axis Bank:
  • Nil prepayment charges
  • Earn eDGE loyalty points on loan approval
  • Minimal paperwork
    • Axis Bank has been rated 3.9/5.0 by customers for its service quality on MyLoanCare
    • Axis Bank has over 3,245 branches in India where you can avail service
    • Axis Bank offers special schemes and discounts for employees of large companies.

    Personal Loan Axis

    Axis Bank personal loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Personal loan interest rates offered by Axis Bank are fixed as well as floating
    • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Axis Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
    • In contrast to this are floating rates which changes with a single change in Axis Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
    Axis Bank Personal Loan Interest Rate depends upon
    • Axis Bank personal loan amount: Personal loan rate in Axis Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
    • Company where you work: Axis Bank has a list of companies to which they lend personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. Axis Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

    Axis Bank Personal Loan Charges

    Axis Bank Personal Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Axis Bank allows prepayment of personal loan after paying 1 EMI’s with 1 prepayment charges
    Axis Bank Personal Loan processing fee- Axis Bank asks for a processing fee of Upto 2.00% of loan amount with applicable service tax

    Axis Personal Loan EMI Calculator

    Personal Loan EMI of Axis Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by Axis Bank is Rs. 2,405 per lakh loan amount. Personal Loan EMI of Axis Bank depends on factors like:
    • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
    • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Axis Bank Personal Loan EMI will be high if you apply for a high loan amount
    What are the benefits of calculating Personal Loan EMI?
    • EMI calculator of Axis Bank Personal Loan helps you to calculate your monthly EMI at different rate of interest
    • Axis Bank Personal Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
    Estimated EMI online by using Axis Bank Personal Loan EMI Calculator.

    Axis Personal Loan Eligibility Calculator

    Personal Loan eligibility criteria Axis Bank
    Eligibility of personal loan in Axis Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
    • Age: Age plays an important role to know your eligibility and repayment capacity. Axis Bank offers personal loan to salaried and self employed individuals at the age of 23 to 65 years
    • Income: Axis Bank Personal Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. Axis Bank asks for net monthly income of minimum 15,000.
    • Job stability and Profession: Job stability is important to improve your eligibility for personal loan from Axis Bank. In case you are salaried, you must be in a full time job for at least 12 months of which not less 1 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 0 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Other than job stability, profession is also an important factor which can affect your Axis Bank eligibility. If you are working with a reputed company, probability of getting personal loan from Axis Bank increases as the income is considered to be more stable
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
    • Loan Amount: Axis Bank gives you personal loan depending upon your income. Axis Bank gives you an amount ranging from Rs.50,000 to Rs. 2,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.
    Estimated eligibility online by using Axis Bank Personal Loan Eligibility Calculator.
    CIBIL Score for Axis Bank Personal Loan
    • Axis Bank calculates an "app score" for each personal loan application which uses CIBIL score as one of the many factors
    Popular Axis Bank Personal Loan Products:
    • Loan for Meeting Personal Requirements
    • Loan for Salaried Individuals
    • Personal Loan for Home Renovation
    • Sarvottam Offer
    Maximum Annual Percentage Rate (APR) 15.9% to 24.4%
    Representative example of the total cost of the loan, including all applicable fees
    Here is an illustration of the total cost of the loan:
    • Total amount borrowed: Rs. 100,000
    • Time period: 12 months to 60 months
    • Axis Bank Personal Loan Interest Rate: 15.50% to 24.00%
    • Processing Fee payable to Axis Bank: Upto Rs. 2,000. Current offer for processing fee is Upto 2.00%
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,405 for a 60 months Rs. 100,000 loan at 15.50% (lowest rate, longest time period) to Rs. 9,456 for a 12 months Rs. 100,000 loan at 24.00% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 15.9% to 24.4%
    • Total cost payable over loan tenure: Rs. 15,472 for 12 months loan to Rs. 46,319 for 60 months loan
    Axis Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Axis Bank.

    Axis Bank Personal Loan Top up, Transfer

    Transfer of personal loan from another bank to Axis Bank?
    Axis Bank offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Axis Bank
    You can avail additional top-up personal loan from Axis Bank, subject to your eligibility

    Personal Loan Axis documents required

    Personal loan for Salaried employee Axis Bank documents required

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 3 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Compare Axis Personal Loan

    Comparison of Axis Bank Personal Loan with other banks

    Axis Personal Loan in India

    Axis Bank Personal Loan Customer Care Number, Email, Application Status

    Contact Details of Axis Bank Personal Loan Branches
    City Customer Care Number
    Agra 0522-2230857
    Ahmedabad 079-26563232
    Ambala 0172-2620489
    Anand 079-26563232
    Aurangabad 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
    Sonepat 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
    *My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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Axis Personal Loan News - Oct 2016
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank has cut it benchmark MCLR base rate by 5 bps. The bank has reduced its rates across tenures effectively reducing the overnight rates to 8.80 per cent and three year rate to 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra and Indian Bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.
12th Sep 16 Freecharge, Axis Bank tie-up to launch UPI payments for consumers, merchants
Freecharge has tied up with Axis Bank to start Unified Payments Interface (UPI) enabled payment on its Android app. This app will enable consumers to make instant seamless transactions from their smartphone using a virtual payment address (VPA). Consumers can create a virtual address on the Freecharge Android app and link it to their bank account to register on the UPI app. This feature will allow consumers to pay on Freecharge in a secure way for transactions and bill payments.
27th Aug 16 Axis Bank launches NFC payments on GoQii devices, opens innovation lab for startups
Axis Bank launches NFC payments on GOQii fitness wearable devices and also opened an innovation lab called Thought Factory that would focus on developing innovative tech solutions which can improve customer experience in banking. This is the first time that health and fintech are working together in the Indian startup network. The bank has identified 120 startups for this scheme for a three month mentorship program. The lab will also host accelerator programs for startups who will work closely with intrapreneurs from Axis.
27th Aug 16 Axis Bank partners Amazon, Visa to help Indian fintech startups
Axis Bank has entered into a strategic partnership with Amazon Internet Services to setup a co-working center at its Thought Factory in Bengaluru. With this collaboration, Amazon will be hosting sessions with AWS technical experts for startups along with offering AWS credits, conducting thought leadership talks, bootcamps and startup pitches among others. Apart from Amazon, Axis Bank is also associating with Visa to co-create digital trade solutions for startups under its Innovative Lab Facility Thought Factory. Axis Bank is also collaborating with OverseasChinese Banking Corporation fintech unit The Open Vault at OCBC for information sharing and offering mentoring to startups
18th Aug 16 Axis Bank has reduced its MCLR from 18th August, 2016
Axis Bank has reduced its Marginal Cost Based Lending Rate (MCLR) by 5 basis point (bps) across maturities. The 1 year MCLR has been reduced to 9.25 percent from the current rate of 9.3 percent. The 3 month and 6 month MCLR has been reduced to 9.1 percent and 9.2 percent respectively. Similarly the Overnight MCLR has been reduced to 8.85 percent. These changes are effective from 18th August, 2016. The interest rates of home loans that have been disbursed after 1st April 2016 are linked to 1 year MCLR. For borrowers who have taken a home loan from Axis Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken the home loan at fixed interest rate then your interest expense will remain unchanged.