Instant Personal Loan//Without paperwork apply personal Loan//Axis Bank Personal Loan
Axis Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs, and retail businesses.
The bank was founded in December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai.
The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI), Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation, and United India Insurance Company.
The first branch was inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister of India.
At Axis Bank, believe your journey should continue without any speed bumps. This is why Axis brings you customized Bank Loans at competitive interest rates. To get started, check your loan eligibility using our simple loan calculators.
You can submit your Bank Loan application online in three easy steps and avail the most attractive interest rates and comfortable repayment tenures.
Explore a wide range of loans designed for your unique needs.
Personal Loan
Axis Bank Personal Loans offer fast processing of your loan. Personal Loans can be used for plenty of purposes! They can be availed when you are planning a vacation, renovating your home or arranging a dream wedding for yourself or somebody special in the family.
Now you need not postpone things on your bucket list! You can get a Personal Loan of Rs. 50,000 up to Rs. 15,00,000 with minimal documentation and speedy approval from Axis Bank.
Also, you can transfer your existing high-interest Personal Loan to Axis Bank as well. With quick approval on Personal Loans, turn your dreams into reality!
Axis Bank Personal Loans offer fast processing of your loan. Personal Loans can be used for plenty of purposes! They can be availed when you are planning a vacation, renovating your home or arranging a dream wedding for yourself or somebody special in the family.
Now you need not postpone things on your bucket list! You can get a Personal Loan from Rs. 50,000 upto Rs. 40,00,000 with minimal documentation and speedy approval from Axis Bank. Also, you can transfer your existing high interest Personal Loan to Axis Bank as well. With a quick approval on Personal Loans, turn your dreams into reality!
Personal Loan Features and Benefits
Axis Bank Personal Loan Features
One needs to be of a minimum age of 21 years and should have a valid set of documents like ID, income and residence proof, among other documents, to avail a Personal Loan from Axis Bank.
To ease the burden of paying off the Personal Loan immediately, you may opt for the EMI (Equated Monthly Instalment) facility. The repayment tenure can range from anywhere between 12 to 60 months. If you’re an Axis Bank customer, you can avail the best rates for Personal Loans!
To know how much you need to pay per month, there is a Personal Loan calculator at your disposal. You can choose your tenure and the amount that you are comfortable repaying each month for the chosen tenure. With the Personal Loan EMI Calculator, you can also calculate the compound interest and know exactly how much you need to finally part with – including the interest.
Click on Axis bank personal loan interest calculator
Features and Benefits
One needs to be of a minimum age of 21 years and should have a valid set of documents like ID, income, and residence proof, among other documents, to avail a Personal Loan from Axis Bank.
To ease the burden of paying off the Personal Loan immediately, you may opt for the EMI (Equated Monthly Instalment) facility. The repayment tenure can range from anywhere between 12 to 60 months. If you’re an Axis Bank customer, you can avail the best rates for Personal Loans!
Personal Loan interest rate varies from 12% to 21%
The penal Interest rate is 24% per annum i.e. 2% per month on the overdue installment.
Repayment instruction / Instrument return charges Rs.500/- per instance of dishonor of cheque /SI/ECS/NACH debit instruction + GST as applicable
Apply online to get Axis bank instant personal loan
Home Loan
Our affordable and flexible home loans are designed to take you closer to your dream home. Our Home Loan affordability calculator is based on your requirements, such as tenure, loan amount and interest rates to give you an estimate of your EMI.
Explore our wide range of products for the most competitive Home Loan interest rates, extended loan tenures and other benefits like EMIs waivers
How to get Home loan applications:
Application: You will need to apply for a home loan, this can be done online or at bank branches/loan centres.
Loan Sanction: Post submission of your application and review of necessary KYC and documents of financial stability, the bank shall sanction your loan amount.
Review: Once the loan is sanctioned, you will need to submit the documents pertaining to the property against which your loan is sought, for technical and legal review.
Approval & Disbursal: Upon validation of your loan amount and the property sought, the bank shall approve and disburse your loan.
How can one apply for a personal loan?
Step 1 Evaluate your needs to know the exact loan amount you need.
Step 2 Take into account any existing loan or credit card dues that you may currently be repaying, as this will determine the EMI you can afford to pay. Use the Personal Loan Eligibility Calculator to understand how much you can repay in a month.
Step 3 Check the bank’s eligibility conditions to know if your income and employment (the company you work for) will qualify
Step 4 Check the personal loan interest rate offered by the bank. Use the Personal Loan EMI calculator to find out how much your monthly outgo will be.
Step 5 If you are an existing customer you can apply for the loan on the bank’s mobile app or through your internet banking account. If you are a new customer you can download the application from the bank’s website or get it at the branch.
Step 6 Provide documents for KYC, address proof and income proof along with the application form, along with the cheque for the processing charge
Step 7 The bank will verify the documents, give you the loan sanction and approve the amount based on your eligibility. This will be followed by the signing of the agreement and the Standing Instruction (SI) Request/ECS Forms. Once this is done the funds will be disbursed to your account.
Step 8 The amount is then credited to your account. The entire process may take upto 30 days.
Tips to keep in mind while applying for a personal loan
First try the bank where you have a relationship, such as a salary account, home loan, car loan, etc, as the KYC process will be easier and faster.
Compare personal loan interest rates, processing charges, the penalty for pre-payment/foreclosure, etc. All these charges will add up to your cost. A bank that offers a lower interest rate may charge a higher processing charge or penalty for foreclosure.
Try to achieve and maintain a high credit score as that could improve the chances of your loan request getting approved. Remember, this is only one of the conditions for eligibility. The bank will evaluate it along with other conditions while reviewing your loan application.
If you have other loans ensure the repayments are on time. This too could improve your chances of securing the loan.
Do’s and Don’ts when applying for a Personal Loan
A Personal Loan can help meet your need for quick funds without any security or collateral. It is an unsecured loan and can be used for any purpose. It is disbursed based on your income, employment details and credit score, among other factors.
The personal loan interest rate will vary based on the loan amount, tenure, etc. Using a Personal Loan EMI calculator you can find out the amount you will have to pay as EMI each month on the basis of the interest rate, loan amount and loan tenure you choose.
With the right documents and prompt follow-up, you could have your Axis Bank Home Loan Approved in 15 days!
Do’s when applying for a Personal Loan
1. Check the interest rates before applying for the loan. Being an unsecured loan, the interest rates tend to be a bit higher than a secured loan
2. Check charges such as processing fees, pre-payment charges, etc., as these can add up to quite a bit
3. Check if the repayment conditions are flexible and if you would have to pay a penalty in case of part pre-payment or foreclosure of the loan
4. Check the time taken by the bank for approval and disbursal of the loan, and whether you will receive the funds in time to meet your requirements.
5. Check out the exact EMI amount using a personal loan EMI loan calculator
6. Check eligibility criteria such as minimum income limit, and documents required to ensure quick approval and sanction of your loan
7. Check if you are pre-approved for a personal loan for instant disbursal
Don’ts when applying for a Personal Loan
1. Don’t let your loan EMI exceed 40% of your net take-home pay. This will prevent any undue financial burden on your monthly budget
2. Don’t avail of a personal loan at a higher interest rate if your credit score is too low. This will put pressure on your finances and make it tough for you to repay the loan
3. Don’t delay your repayment or default on your loan because it is an unsecured loan. This will impact your credit history negatively and pull down your credit score, which will make it difficult for you to avail of any credit in future
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