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Axis Finance Personal Loan

Online Axis Finance Personal Loans

Last Updated 08th Apr 2021

Axis Finance Personal Loan is the most popular personal loan in India given its low interest rates, quick approval, and online process. Key selling points of Axis Finance Personal Loan are:

  • Axis Finance Personal Loan interest rate starts from 13.00%.
  • The processing fee charged on Axis Finance personal loan is 2%.
  • Axis Finance also offers pre-approved personal loans at low rates for customers with strong credit history and those with an existing account with the bank.
  • The bank has an online application process where the KYC and documents submission can be done digitally.
  • You can easily check the status of your Axis Finance personal loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
  • Axis Finance has special schemes for different income and occupation groups.
Apply for Personal Loan @ 10.25%* Get upto ₹ 1,000* Cashback

Axis Finance Personal Loan Details

  • Interest Rate on Axis Finance personal loan ranges from 13.00% to 18.00%.
  • Lowest EMI per lakh works out to be ₹ 2,275 , as calculated on the lowest rate and longest loan tenure.
  • Personal Loans by Axis Finance are available for salaried working with government, private sector, MNCs and self-employed professionals such as doctors within the age group of 21 to 58 years.
  • Loan amount can range from ₹ 50,000 to ₹ 25 Lakh
  • Axis Finance Personal Loan can be availed for a period of 12 months and can go up to 60 months.
  • Processing Fees charged by Axis Finance on personal loan is 2%
  • Axis Finance allows personal loan foreclosure and part prepayment after 6 months with charges of Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period.

How to Get the Best Offer on Axis Finance Personal Loan?

There are various factors that impact your chances to get the best offers on Axis Finance Personal Loan, as listed follows:

  • Loan Amount - Axis Finance offers loans between ₹ 50,000 and ₹ 25 Lakh and charges lower rates on higher loan amount and vice-versa, so apply accordingly.
  • Salary - Axis Finance offers personal loan to all customers with a net take home monthly salary of more than ₹ 25,000. The rate of interest is higher if you fall in the low salary bucket and lower if you fall in higher income bucket.
  • Employer Category - Axis Finance has clubbed the companies in a high to low category based on internal assessment of company’s size, reputation, profitability etc. When you apply for Axis Finance personal loan, the bank will decide on your interest rate based on the company category you fall in. MyLoanCare can also help you check which category of company you qualify in to help you get the best offer.
  • Relationship with the Bank - Axis Finance offers special rates to the existing customer of the bank, who have a high likelihood of getting loans at lowest interest rate starting at 13.00%
  • Credit Score - Axis Finance checks the CIBIL score of personal loan customers which has to be minimum of 650. Higher the CIBIL Score, higher is your chance of securing best offer.

Axis Finance Personal Loan Documents

You require the following documents to avail personal loan from Axis Finance

  • Filled up loan application form or an online form, if you are applying online
  • 2 Passport Size Photo
  • Identity Proof – One of the following: Driving License, PAN, Passport, Voter ID, Aadhaar Card
  • Residential Address Proof – One of the following: Registered Rent Agreement, Passport, Leave and License, Utility Bill of last three months
  • Income Documents – Copy of Form 16 of last 2 years, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit

How to Apply for Axis Finance Personal Loan?

The step-by-step procedure to get a personal loan online from Axis Finance is mentioned below:

  • Visit the official website of Axis Finance Or contact your nearest Axis Finance branch.
  • Now, fill personal, professional and financial details as required by the lender and submit the form.
  • Once you have submitted the application form, Axis Finance will check your eligibility and provide you with information about the eligible amount you can avail.
  • If you agree to process the application, then you would be required to submit the essential documents which can also be uploaded online.
  • Finally, your documents will be processed by Axis Finance, and on successful approval of the loan, the funds will be disbursed to your Axis Finance account immediately.

You can also apply for Axis Finance personal loans by visiting their branch or by calling their customer care centre.Offline mode are mentioned below:

  • Visit the nearest Axis Finance branch and fill in the application form with the loan amount required, your personal details, occupation information and your contact number.
  • The Axis Finance representative will explain about the eligibility of the loan as well as the loan rates, terms as well as processing fees, prepayment and foreclosure clauses.
  • After submitting the application form and required documents, you will be provided with an application reference number. You can use the same number to track the status of your Axis Finance Personal Loan application.
  • On successful verification, the loan can get disbursed immediately after loan sanction and signing of the agreement.
Illustration on Personal Loan Axis Finance
Maximum Annual Percentage Rate (APR) 13.4% to 18.4%
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: ₹ 1,00,000
  • Time period: 12 Months to 60 Months
  • Axis Finance Personal Loan Interest Rate: 13.00% to 18.00%
  • Processing Fee payable to: Upto ₹ 2,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 2,275 for 60 Months ₹ 1,00,000 loan at 13.00% (lowest rate, longest time period) to ₹ 9,168 for 12 Months ₹ 1,00,000 loan at 18.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 13.4% to 18.4%
  • Total cost payable over loan tenure: ₹ 1,09,181 for 12 Months loan to ₹ 1,38,519 for 60 Months loan

Personal Loan from Other Banks in India

FAQs

How much time will the Axis Finance take to take a decision on my personal loan?

Banks generally convey their decision on a loan within 15 days of submitting a loan application. However, some banks also offer instant loan offers, which can be approved within a few hours to 2-3 days. The turnaround time for a Axis Finance instant loan can be 2 to 3 days.

Why should I take a personal loan from Axis Finance ?

Below-mentioned is the reason why you must avail a personal loan from Axis Finance.

  • Loan Amount upto Rs. 25 Lakhs
  • No hidden charges on personal loan.
  • Nil processing fee for first time user.
  • No Part Payment Charges

How much interest is charged by Axis Finance on personal loan?

Personal loan interest rates in Axis Finance are 13.00% to 18.00%. Axis Finance personal loan interest rate for salary account holders are comparatively lower than that for other customers.

What is the lowest EMI per lakh on personal loan from Axis Finance ?

If you apply for loan from Axis Finance, your lowest Personal Loan EMI per lakh will be ₹ 2,275 which corresponds to lowest interest rate of 13.00% and longest tenure of 60 years.

What is the minimum and maximum tenure of personal loan in Axis Finance?

Axis Finance personal loan has a minimum tenure of12 months to maximum 60 months.

How much personal loan amount I can borrow from Axis Finance?

Axis Finance offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 25 Lakh

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

Yes, you can add the income of your spouse to increase your Personal Loan Eligibility andto get a higher loan amount from Axis Finance . In this case, the bank will check the CIBIL score of your spouse and ask for all income and bank statements of your spouse for the purpose of processing your application

How can I get Axis Finance personal loan?

You can get a personal loan from Axis Financeby directly visiting the nearest branch or can apply online at their website. While these two are the traditional methods of applying, you can easily apply for the loan at MyLoanCare website where you can do a thorough comparison of all loan details, rates and charges before deciding to proceed with Axis Finance’s application process.

How can I check my Axis Finance personal loan status?

You can check the status of your loan online and offline. Once you have applied for a personal loan from Axis Finance, you will be given an application number. You can use that application number and registered mobile number to check the status of your loan online at Axis Finance's website. In case you are unable to track your application online, you can get Axis Finance loan assistance at Axis Finance loan customer care centre and ask them to help you out with the status. If you have applied for the loan through MyLoanCare, you can check the status of your application by logging into MyLoanCare account.

What is the importance of credit score if I wish to avail a Axis Finance personal loan ?

It is important to have a good credit score if you wish to apply for a personal loan from Axis Finance. A credit score above 750 is considered good for a personal loan. A low credit score increases the chances of rejection of your application.

Is there security or collateral needed to get a personal loan from Axis Finance?

No, Axis Finance does not require any collateral or security to lend you the personal loan as it is an unsecured loan.

Can I close my Axis Finance personal loan after 1 year?

You can close your personal loan from Axis Finance after 6 months by paying charges: Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period

Can I negotiate with Axis Finance on the personal loan interest rate?

Yes, as a customer, you should negotiate for a rate discount when you apply. You may end up getting a better rate from the bank if you have applied for a high loan amount and are in a high income range working with a reputed company.

How to pay your Axis Finance personal loan EMI?

You can pay your Axis Finance personal loan EMI by using ECS facility or through Standing Instruction.Axis Finance also provides you the facility to pay your Personal Loan EMI online using net banking and mobile banking.


Axis Finance Personal Loan Reviews 4.4/5  by 6 customers
MyLoanCare Service
4.5/5.0
Banks Service
4.3/5.0
Akash, Indore
Reviewed on 30th Dec 2020
5 / 5 stars
Axis Finance Personal Loan Availed in Dec 2020

Good service and good executive to explain every point Read more...

Mohammed, Mumbai
Reviewed on 17th Nov 2020
3.5 / 5 stars
Axis Finance Personal Loan Availed in Nov 2020

Great help in providing services of loan with continuous follow-up. Read more...

Arpana, Mumbai
Reviewed on 14th Nov 2020
5 / 5 stars
Axis Finance Personal Loan Availed in Nov 2020

Very good service given by Kuldeep and Rohit . Less documentation and quick service. Answered my calRead more...

Venkatesulu, Bangalore
Reviewed on 11th Nov 2020
5 / 5 stars
Axis Finance Personal Loan Availed in Nov 2020

Really appreciate it. I am impressed with the service and follow up until loan amount disbursement.
Read more...

Vijay, Mumbai
Reviewed on 04th Nov 2020
4 / 5 stars
Axis Finance Personal Loan Availed in Nov 2020

Kuldeep sir was very helpful and timely disbursement was done. Read more...

Nedunuri, Hyderabad
Reviewed on 29th Oct 2020
4 / 5 stars
Axis Finance Personal Loan Availed in Oct 2020

Good easy hassle-free process. MyLoanCare is really good.Read more...

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