Axis Bank Personal Loan

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Axis Bank provides personal loans with fixed interest rates starting at 10.49% per annum, allowing you to borrow up to Rs 40 lakh for a repayment period of up to 5 years. They offer the convenience of pre-approved instant personal loans, which involve a seamless digital process and do not require any paperwork. Additionally, Axis Bank has partnered with mybankingtips.com to offer pre-qualified customized personal loans to specific customers, ensuring end-to-end digital processing and fast disbursal of funds.

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Axis Bank

Max. Loan Amt.

Up to ₹40L

Rate of Interest

10.49% - 22%

Tenure up to

1-5 Years

Processing Fee

Upto 2%

Check Eligibility
Low Processing Fee

Axis Bank Personal Loan Interest Rates

Axis Bank offers personal loans with a starting interest rate of 10.49% per annum. Although the bank doesn't reveal the specific factors that influence these rates, typical factors like your credit score, monthly income, age, and more are usually considered by lenders when determining personal loan interest rates.

Axis Bank Personal Loan Highlights

Interest Rate 10.49% p.a. onwards
Loan Amount Rs 50,000- Rs 40 lakh
Tenure 1-5 years
Minimum Monthly Salary Rs 15,000
Processing Fees Up to 2%

Note: Rates as of 24 December 2024

Banks/NBFCs Interest Rates(p.a.)
Axis Bank 10.49% onwards Apply Now
IndusInd Bank 10.49% onwards Apply Now
IDFC First Bank 10.49% onwards Apply Now
HDFC Bank 10.50% onwards Apply Now
ICICI Bank 10.50% onwards Apply Now
Kotak Mahindra Bank 10.99% onwards Apply Now
Tata Capital 10.99% onwards Apply Now
Bajaj Finserv 11.00% onwards Apply Now
Federal Bank 11.49% onwards Apply Now
DMI Finance 12.00% - 40.00% Apply Now
L&T Finance 12.00% onwards Apply Now
Kreditbee 12.25% - 30.00% Apply Now
MoneyTap 12.96% onwards Apply Now
Piramal Finance 12.99% onwards Apply Now
Aditya Birla 13.00% onwards Apply Now
MoneyView 15.96% onwards Apply Now
Cashe 27.00% onwards Apply Now

Also read: Best Personal Loan Interest Rate

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Particulars Rates
Processing Fee 1.5%-2%
Repayment instruction/Instrument return charges Rs 339 per instance + GST
Swap Charges (Cheque/Instrument) Rs 500 per instance + GST
Penal Interest @ 24% p.a. i.e., 2% per month on overdue installment
Duplicate statement issuance charges Rs 250 per instance per set + GST
Duplicate Amortization Schedule issuance charges Rs 250 per instance per set + GST
Credit Information Companies Report issuance charges Rs 50 per instance per set + GST
No dues certificate generation charges (duplicate) Rs 50 per instance per set + GST
Stamp duty charges As per state stamp
Prepayment/Part-prepayment charges 5% + GST (As applicable)
  • *Pre payment charges shall be charged on principal outstanding.
  • *Part payment charges shall be charged on the amount of part payment.

Also read: Best Personal Loan in India

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Personal Loan for Wedding

  • Purpose:  People can use Axis Bank Marriage Loan to cover the costs of their wedding expenses.
  • Loan Amount: Rs 50,000-Rs 40 lakh
  • Tenure: 1-5 years

Personal Loan for Home Renovation

  • Purpose: Axis Bank provides a Personal Loan for Home Renovation, which helps individuals finance the expenses associated with renovating, extending, or improving their current home property.
  • Loan Amount: Up to Rs 40 lakh
  • Tenure: 1-5 years

Also read: Best Personal Loan Status

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Axis Bank determines the eligibility criteria for its Personal Loan based on factors such as the applicant's job profile, age, minimum monthly income, and more. Below are the eligibility criteria established by Axis Bank for their Personal Loans.

  • Individuals who work for the government, whether at the local or central level, as well as employees of private limited companies, public limited companies, and Public Sector Undertakings, are eligible to apply for a personal loan from Axis Bank. Additionally, Axis Bank provides a special personal loan option for doctors.
  • The applicant must be at least 21 years old at the time of applying for the loan.
  • The maximum age of the applicant at the time of loan maturity should not exceed 60 years.
  • The applicant should have a minimum monthly income of Rs 15,000.

Also read: Best Personal Loan Eligibility

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To apply for an Axis Bank Personal Loan, you will need to provide the following documents:

1. A completely filled application form along with recent passport size photographs. 2. KYC documents, which can include a driving license, passport, Aadhaar card, job card by NREGA (duly signed by a State Government officer), voter ID, or a letter issued by the National Population Register containing your name and address details. 3. Proof of your birth date, which can be a birth certificate, PAN card, passport, school leaving certificate, Aadhaar card, or driving license. 4. Signature proof, such as a passport, bank verification, or PAN card. 5. Income proof, including your last 2 months' pay slips, employment proof for 1 year, and bank statements for the last 2 months showing your salary credits.

Make sure to self-attest all these documents when you submit your application.

Also ReadBest Personal Loan Documents Required

  • 1-860-419-5555
  • 1-860-500-5555
  • Non Toll Free Number: +91 40 67174100

1. Does Axis Bank provide pre-approved loans?

Absolutely, Axis Bank offers pre-qualified instant personal loans to specific customers, and the entire process is handled digitally from start to finish.

2. What is the turnaround time for Axis Bank personal loan disbursal?

Axis Bank promotes fast processing of personal loans but doesn't specify the exact time it takes for loan disbursal. However, if you're eligible for a pre-qualified personal loan from Axis Bank, you can typically expect quicker disbursal, often within the same day you apply for the loan. To check if you qualify for an Axis Bank pre-qualified personal loan, you can click on the provided link.

3. Can I choose between a fixed or floating rate for the personal loan?

Axis Bank exclusively provides personal loans with fixed interest rates and does not offer personal loans with floating interest rates.

Also read: Best Personal Loan Balance Transfer

4. Can I use Axis Bank personal loan for any purposes, including for commercial or business purpose?

Axis Bank's personal loan can be used for a wide range of personal purposes, excluding speculative activities. Additionally, entrepreneurs can utilize this loan to expand their business. The approval of the loan depends on the entrepreneur's credit history.

5. Does Axis Bank allow Personal Loan Balance Transfer option?

Certainly, Axis Bank offers a Personal Loan Balance Transfer option, allowing individuals with existing personal loans from other banks or NBFCs to transfer their personal loan to Axis Bank, potentially benefiting from lower interest rates.

Also read: Best Personal Loan Salaried Employees

6. At what minimum CIBIL score can I avail personal loan in Axis Bank?

While Axis Bank has not provided a specific credit score cutoff for personal loan eligibility, applicants with a credit score of 750 or higher typically have a better chance of securing a personal loan at more favorable, lower interest rates.

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