Axis Bank offers personal loan at fixed interest rates of 10.25% p.a. onwards, for a loan amount of up to Rs 15 lakh, and for tenures of up to 5 years. Axis Bank also offer pre-approved instant personal loan with digital processing and without any paperwork. Axis Bank has also tied-up with Paisabazaar.com to offer pre-qualified customised personal loans to select customers with end-to-end digital processing and quick disbursals.
| Axis Bank Personal Loan Highlights – June 2022 | |
| Interest rate | 10.25% p.a. onwards |
| Loan Amount | Rs 50,000- Rs 15 lakh |
| Tenure | 1-5 years |
| Minimum Monthly Salary | Rs 15,000 |
Axis Bank personal loan interest rate starts @ 10.25% p.a. The final interest rates offered to the personal loan applicants depend upon the credit score, age, monthly income, employer’s profile, job profile, etc.
Can’t get lower interest rates due to ‘no’ or ‘low’ credit score? Use Step UP Credit Card to establish/re-establish your credit score.
| Banks/NBFCs | Interest Rates (p.a.) |
| Axis Bank | 10.25% onwards |
| HDFC Bank | 10.50% – 21% |
| SBI | 9.80%-13.80% |
| ICICI Bank | 10.50% onwards |
| Kotak Mahindra Bank | 10.75% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.49% – 25% |
| Bajaj Finserv | 13.00% onwards |
| Tata Capital | 10.99% onwards |
Also Know: Which bank offers low personal loan interest rate in India?
| 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 |
| Foreclosure charges | On outstanding loan: For 0-12 months: 5% For 13-24 months: 4%
For 25-36 months: 3% More than 36 months: 2% |
Also Know: What are the eligibility criteria and documents required for salaried employee to apply for personal loans?
Know About: How to Check Axis Bank Personal Loan Status?
Q. Does Axis Bank provide pre-approved loans?
Ans. Yes, Axis Bank provides pre-qualified instant personal loans to its select customers with end-to-end digital processing.
Q. What is the turnaround time for Axis Bank personal loan disbursal?
Ans. Axis Bank claims to offer quick processing of personal loan while not disclosing the exact turnaround time for personal loan disbursal. However, the pre-qualified personal loan offered by Axis Bank have quicker disbursals, usually within the same day of making loan application. Click here to find whether you qualify for Axis Bank pre-qualified personal loan
Q. Can I choose between a fixed or floating rate for the personal loan?
Ans. Axis Bank Personal Loans are offered only on fixed interest rates. Axis does not offer personal loans on floating interest rates.
Q. Can I use Axis Bank personal loan for any purposes, including for commercial or business purpose? Ans. Axis Bank personal loan can be used for all personal purposes, except for speculation. It can also be used by the entrepreneurs for expanding their business. The loan is sanctioned based on the credit history of the entrepreneur.
Q. Does Axis Bank allow Personal Loan Balance Transfer option? Ans. Yes, Axis Bank allows Personal Loan Balance Transfer option where the existing personal loan borrowers of other banks/NBFCs can transfer their personal loan to Axis Bank at lower interest rates.
Q. At what minimum CIBIL score can I avail personal loan in Axis Bank?
Ans. Axis Bank has not specified a cut off credit score for availing personal loan. However, personal loan applicants having credit score of 750 and above usually have higher chances of availing personal loan at lower interest rates.
