Personal loan interest rates Axis bank

Personal loan, a multi-purpose loan, in Axis bank comes with different features and also lower interest rates. For the convenience of the customers, Axis bank, one of the fastest growing private banks in India, now does not levy an extra charge for pre-closure or part payment of the personal loan.

A personal loan ensures that you need not go back on your targets that you have set for yourself. Be it the perfect wedding for your daughter, the complete renovation for your new apartment or a fun-filled holiday for your family. Get the best personal loan interest rate with Axis Bank.

Personal Loan Interest rates Axis bank

Here is the list of charges and personal loan interest rates Axis bank details.

Interest Rates & Charges*
Rate of Interest 15.50% to 24%
Loan Processing Charges 1.50% to 2.00% + GST as applicable
Cheque Bounce Charges Rs. 500 per cheque bounce + GST as applicable
Cheque/ Instrument Swap charges Rs.500 per instance + GST as applicable
Prepayment/ Foreclosure Charges Nil
Default Interest Rate @24.00% per anum i.e 2% per month on the overdue installment
Duplicate Statement Issuance Charges

Duplicate Amortization Schedule Charges

Duplicate Interest Certificate
(Provisional/ Actual) issuance Charges

Rs 250 per instance + GST as applicable

Rs 250 per instance + GST as applicable

Rs 250 per instance + GST as applicable

Cibil Report Issuance Charges

Stamp Duty Charges

Rs. 50/- per instance per set+ GST as applicable

As per State Stamp Act

Issuance Charges for Photocopy of Loan Agreement/ Documents Rs 250 per instance + GST as applicable
*(Subject to change as per Bank’s discretion from time to time)
* Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
Personal Loan Axis bank Features 
  • Simplified Access – Minimal documentation and quick approval
  • Loan Amount – Minimum Amount  – Rs. 50,000 ; Maximum Amount  – Rs. 15,00,000
  • Loan Tenure – 12 to 60 months.
  • Balance Transfer – Carry over existing loans from other banks to Axis Bank
  • Axis eDGE Rewards – Earn reward points on taking a Personal Loan
Personal Loan Axis bank Eligibility

You have to fulfill certain requirements to be eligible for a personal loan from Axis bank. The documents and eligibility criteria are mentioned below. So go ahead, get the personal loan and watch your dreams come true with affordable personal loan interest rates from Axis bank.

Individuals who can take a Personal Loan from Axis bank

  • Salaried Employees
    • Salaried doctors
    • Employees of Public and private limited companies
    • Public and private limited companies
    • Government sector employees including Public Sector Undertakings and central and local bodies
  • Minimum age of 21 years
  • Maximum age of 60 years at loan maturity
  • Minimum net monthly income – Rs. 15,000
Documents required for Personal Loan Axis bank
  • Application form
  • Photograph
  • Age proof
  • ID proof
  • Income proof
  • Bank statement
  • Residence proof
  • Signature verification proof

Post-sanction / pre-disbursement documentation

  • Loan Agreement duly signed
  • Standing Instruction (SI) Request / ECS Form. Security Cheques required for SI and ECS

Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers may vary from customer to customer.

Frequently Asked Questions About Personal Loan Axis bank

1. What is the usual time taken for deciding on the Personal loan application?

Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 30 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.

2.What are the different options for making the payment to personal loan

You may repay your Personal Loan in any of the following three ways:

  • Standing Instruction (SI): This mode can be used if you have an existing savings, salary, or current account with Axis Bank. You may wish to open a savings account with Axis Bank to use this option. Your EMI amount will be debited automatically at the end of the monthly cycle from the Axis Bank account you specify.
  • Electronic Clearing Service (ECS): This mode can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
  • Post-Dated Cheques (PDCs) : You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

Axis bank recommends you to opt for either the SI or ECS mode of payment as they both are faster and less prone to error than the use of PDCs.

3. Can you make part-payment towards personal loan or can you pre-close the personal loan? If so, what is the extra charge levied?

Yes, you can make a part-prepayment towards your Personal Loan at your nearest Axis Bank Loan Center. Also, yes, you can pre-close the personal loan. Currently, Axis Bank levies no charge for part prepayment.

4. How do you keep a track of your personal loan? Or how do you get a statement of your repayment track?

You may place request for Statement of Account or Repayment Schedule or Interest Certificate in either of the following ways:

  • By calling the Call Center at any of these toll free numbers (1-860-419-5555 ) (1-860-500-5555)
  • By using your registered email id to write to Axis bank at: loans@axisbank.com
  • In person at any Axis Bank Loan Center.
How Loanyantra.com helps in dealing with your Personal loan interest rates Axis bank

The process for your personal loan Axis bank is as follows.

You can give a missed call to our number 040-71011991. Our customer relationship manager will get into contact with you. As and when you get the call, you can share your requirements.

Our service towards your personal loan axis bank application will be taken forward after a detailed discussion about the documentation process.

We ensure you keep all the documents ready as our executive will reach you to your doorstep for a free home service.

You can relax as we take forward and give you the best lower interest rate possible and also the refund according to the  cash back offer available.

Loanyantra still works for you till you close the loan as we keep a track about your personal loan interest rate till the end. You get a call as and when you can save on your EMI and reduce the interest rate.

Personal loans with us are even affordable and more accessible. All you need to do is just a missed call to 040-71011991.

 

 

Axis bank home loan interest rates

Axis bank offers one of the best attractive home loan interest rates in India. Axis bank home loan interest rates make way for those customers looking for a qualitative service and low interest rate.

Loanyantra.com, a pioneer in online home loan management system, helps you avail loan from the attractive products and attractive Axis bank home loan interest rates. Trust and relax as loanyantra.com takes care of every detail from the time you look for a home loan option till you complete your loan.

Infact, loanyantra.com helps you close the loan at the earliest possible or helps you reduce the EMI when you are in financial crisis. Loanyantra.com makes people aware of the home loan updates and fills the gap between the customer and the loan lending institute.

Know more about Axis bank home loan interest rates.

Features of Axis bank home loan

  • Avail Attractive Interest Rates
Make your housing loans affordable and easier on your pocket every month
  • Choose Your Home Loan Interest Rate Type
Fixed and floating rate options available as per your preference
  • Application Process :
thumbnail_app process
  • Transfer Loan Balance with Ease

Transfer your home loan to Axis bank without any hassles.

  • Get Service at your Doorstep

Avail or repay the home loan from the comfort of your home or office

  • Pay no prepayment charges

No prepayment charges for paying off loans before the due date (only for loans availed at floating rate of interest).

  • Be assured of transparent, quick processing

Premium banking customers can contact their Relationship Manager for details of special benefits.

  • Repay your loan over a longer tenure.

Repay your home loan in smaller EMIs, over a longer tenure, depending on the situation of your finances.

Axis Bank Home Loan Eligibility 
  • Salaried individuals eligible for home loan :

Individuals in permanent service in the Government or reputed companies fall under the home loan eligibility criteria.
Applicants should be above 21 years of age at the time of loan commencement and up to the age of 60 or superannuation, whichever is earlier at the time of loan maturity.You can check the amount you need to pay as EMI with the home loan EMI Calculator.

  • Professionals eligible for home loan :

Professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply.
Applicants above 21 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity meet our housing loan criteria

  • Self-employed individuals eligible for home loan :

Any individual filing income tax returns can apply
Applicants should be above 21 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity.

Know your eligibility by using  http://loanyantra.com/Calculators.aspx

Borrowing Limits for Axis bank home loan

Minimum – Rs. 3 lakhs
Margins
For loan upto Rs. 30 lakhs – 10%
For loan above Rs. 30 lakhs to upto Rs. 75 lakhs – 20%
For loan above Rs. 75 lakhs – 25%

axis bank home loan interest rates
Loanyantra.com and Axis bank home loan
Documents Needed for Axis bank home loan :
Documents Needed Salaried Self Employed
Proof of identity Valid passport/Voter’s ID/Valid Driving license with photo graph /Pan card /Aadhar card
Proof of Income Latest 3 months salary slip / certificate for fixed salary/Latest Form 16
-and-
Last 6 months bank statement/Passbook of the salary account
IT- returns for the last 2 years along with computation of income certified by CA
-and-
Last 6 months Bank statement for operative account both personal and business.
Proof of Residence Latest Electricity Bill/utility bill/ piped gas bill/ telephone bill (Not more than 2 months old)/ Passport/Aadhar card/ Voter ID/ Driving  License.
Axis Bank Home Loan Interest Rates 

For Salaried individuals :

Sr. No Type Loan amount (Rs.) MCLR + Mark Up Effective Rate Of Interest
1 Floating Rate Loan amount upto Rs 30 lacs MCLR + 0.20% 8.35% p.a.
Loan amount upto Rs 75 lacs MCLR + 0.50% 8.65% p.a.
Loan amount above Rs 75 lacs MCLR + 0.55% 8.70% p.a.
Top Up for existing customers Upto 30%- Same rate at which the home loan is running
30%-100%- LAP rate shall be applicable

For Self-employed Individuals :

Sr. No Type Loan amount (Rs.) MCLR + Mark Up Effective Rate Of Interest
1 Floating Rate Loan amount upto Rs 30 lacs MCLR + 0.25% 8.40% p.a.
Loan amount upto Rs 75 lacs MCLR + 0.55% 8.70% p.a.
Loan amount above Rs 75 lacs MCLR + 0.60% 8.75% p.a.
Top Up for existing customers Upto 30%- Same rate at which the home loan is running
30%-100%- LAP rate shall be applicable
Marginal Cost Based Lending Rate (MCLR) – 8.15%
MCLR Reset frequency for Home Loans – Half Yearly
Base Rate – 9.00%
Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.

Other Charges : 

Description of charges Amount (Rs.)
Processing Fee Charges Up to 1% of the Loan amount subject to minimum of Rs.10,000/-
Penal Interest Rate @24 % per annum, 2% per month
Switching Fees (Base Rate/BPLR to MCLR)#
  • When effective rate is to be kept the same – No fees
  • When effective rate is to be revised – 0.5% on outstanding principal with minimum of Rs 10000/-
Switching Fees (Floating Rate to Fixed Rate)# 1% on the outstanding principal with a minimum of 10,000/-
Switching Fees (Fixed Rate to Floating Rate)# 2% on the outstanding principal amount
Switching Fees (Higher Floating Rate to Lower Floating Rate )# Switching Fees (Higher Floating Rate to Lower Floating Rate )#
Switching Fees (Higher Floating Rate to Lower Floating Rate )# 0.5% on outstanding principal with minimum of `10,000/-The lower rate will be equal to the applicable carded interest rate only
Repayment Instruction/Cheque Return charges 500/- Per Instance
Cheque/Instrument Swap Charges 500/- Per Instance
Duplicate Statement Issuance Charges 250/- Per Instance
Duplicate Amortization Schedule Issuance Charges 250/- Per Instance
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges 250/- Per Instance
Issuance Charges of Credit Report 50/- Per Instance
Issuance Charges for Photocopy of title documents 250/- Per document set
Charges on customer initiated requests for copies of documents 250/- Per document set
Prepayment Charges including part prepayment for floating rate loan NIL
Prepayment Charges for fixed rate loan 2% of the principal outstanding
Equitable Mortgage Creation Charges As applicable in the As applicable in the state
CERSAI charges Rs 50/- For Loans up to 5 Lakhs
Rs 100/- For Loans above 5 Lakhs

# For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed portion of sanctioned amount.

** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).

Balance Transfer Option with Axis Bank :

Do not miss a chance to lower your loan repayments when you have smarter options to choose from. Move your Home Loan outstanding balances to Axis Bank, pay lower monthly installments and enjoy the savings for the other things in life that really matter to you and your family.

  • Income Based Balance Transfer Loans
  • The eligibility of the Balance Transfer will be based on the seasoning and track-record of existing loan only
  • Avail upto 100% top up at home loan rates.

Know how much you can save by calculating in http://loanyantra.com/Calculators.aspx#Balance-Transfer-Calculator

What Loanyantra.com does when you opt Axis bank home loan :

Always avail home loan at lower interest rates. We help you pay less and pay fast. Get along with us to manage your home loan till you finish the home loan.

If you want your home loan from Axis bank, we help you to be and that too for a lesser interest rate.

We are just a missed call away 040-71011991

The moment we receive your missed call, our relationship manager will call you and will explain you about all the details, every minute one too. We will get you along a smooth ride to get you into your favourite bank at a lower interest rate.

That’s not the end..we take care of your home loan till your loan closure. You can always get back to us when you want to balance transfer or if any queries related to your home loan and the interest rates. We will constantly alert you about the market trends and the interest rates.

The choice is yours and we can serve you better than any other.