Nowadays, every person fulfills his needs by getting a loan. So do you also need money urgently to meet a financial goal? So you can take a loan from Axis Bank that can meet a wide range of needs from home renovation to medical emergencies. Read below to know the we will study Axis Bank personal loan information including eligibility criteria, interest rates and application process,comprehensive guide for Axis Bank loans, etc.
Understanding Axis Bank Personal Loan
This is a good option for those who want financial assistance. Axis Bank offers personal loans ranging from ₹50,000 – ₹40 lakh.Axis Bank offers competitive interest rates starting from 10.49% per annum depending on the creditworthiness of the borrower. may change.
Key Features of Axis Bank Personal Loan
- Flexible Repayment Term – Choose a term that suits your budget from 1-7 years for this repayment.
- Less documentation – The application process of this loan is very streamlined and requires very few documents.
- Fast Disbursement – The loan amount will be credited to your bank account immediately after your application is approved.
- Pre-Approved Offers – Eligible customers can meet their requirements by availing pre-approved loan offers.
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Processing Fees and Other Charges
Processing Fee – Axis Bank charges a processing fee of 1.5-2% of the loan amount taken and this fee is deducted in advance from the loan disbursement itself.
Stamp Duty Charges – Stamp duty is also levied under the State Stamp Act applicable in the locality and the amount varies depending on the location of the borrower.
In case of interest – If you make a late payment then Axis Bank charges a penal interest of 24% per annum which is 2% per month on the outstanding installments.
Duplicate NOC Issue – Bank charges ₹500 + GST if you need duplicate No Objection Certificate (NOC) for this.
Prepayment/part-payment charges – Axis Bank charges 5% + GST on the balance or partial payment for those who wish to make prepayment or part payment.
Foreclosure Fees – If you want to close the loan before the end of the term then the foreclosure fee is applicable as follows:
- 0-12 months: 5 percent of the outstanding loan amount
- 13-24 months: 4 percent
- 25-36 months: 3 percent
- Over 36 months: 2 percent
Duplicate Statement Fee – A fee of Rs.250 + GST is applicable if you require a duplicate statement of the loaned account.
Eligibility Criteria
Age: Between 21 to 60 years
Income: Minimum monthly income 15 thousand
Employment: Employed with stable income
Cbil Score: A good credit score increases your chances of loan approval
Documents required
- Application Form,
- Address proof,
- Aadhaar Card,
- PAN Card,
- Salary Slip,
- Bank Statement,
- Employment proof,
- Application Process for Axis Bank Personal Loan?
Applying for an Axis Bank Personal Loan is a simple process. Follow these steps:
- Please Visit the portal of Axis Bank.
- After Find the “Apply Now” button.
- Fill the online application form with required all information.
- Upload the required all documents.
- After Submit your application form.
- Axis bank representative will contact you to complete the loan process.
Why select Axis Bank for personal loan? Axis Bank Personal Loan
Axis Bank is a trusted bank that offers a range of banking products, loans and services. Applying for a personal loan has never been easier for consumers with an online platform and fast loan disbursal process.
Important Links
| Axis bank instant personal loan | Click here |
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