Interest Rate
15.50 - 24
Processing Fee
2% Max
Loan amount
50000.00 - 1500000.00
Tenure
5 years
Get a loan between ₹ 50,000 to ₹ 15 Lacs.

Repayment tenure can range from 1 to 5 Years.

Flexibility to change the loan tenure.

Application requires minimal documentation, and approval is speedy.

Earn eDGE loyalty reward points on your transactions and redeem your points for over 500 rewards; recharges & bookings; In-store and online shopping.

Earn 150 points if your disbursal is less than or equal to ₹3 lacs, 300 points if disbursal is greater than 3 lacs but less than or equal to ₹ 5 lacs, and 450 points if disbursal is greater than ₹ 5 lacs.

Axis Bank offers unsecured personal loans only for salaried applicants while self employed can only get Loans for Holiday and Marriage. Axis bank is very expensive in comparison to all it's peers offering the lowest of 15.50% to a maximum of a whopping 24% per annum, depending upon the credit history and repayment capability of the borrower. Axis Bank offers tenure on personal loan from minimum 12 months to maximum 60 months from the date of loan disbursal.

Though you can avail personal loans for any purpose; Axis Bank have also created customized personal loan schemes for specific purposes like holiday loan, marriage loan and personal loan for home improvement or renovation with benefits like 2 months moratorium if you are availing the loan for a holiday.

Axis Bank also offers 24x7 instant personal loan to pre-approved personal loan customers with zero documentation. Axis Bank currently offers personal loan at the following Indian cities – Bangalore, Chennai, Delhi, Mumbai, Hyderabad, Gurgaon, Noida, Ghaziabad, Faridabad, Pune, Ahmedabad, Kolkata, Coimbatore, Kochi, Jaipur, Lucknow, Patna, Jamshedpur, Vadodara, Trivandrum, Visakhapatnam, Bhubaneswar, Trichy, Surat, Nashik, Aurangabad, Goa, Guwahati, Nagpur, Chandigarh, Bhopal, Calicut, Jodhpur, Mysore, Pondicherry, Raipur, Rajkot, Durgapur, Dehradun, Hubli, Jalandhar, Kolhapur, Ludhiana, Madurai, Mangalore, Patiala, Siliguri , Ranchi, Tirunelveli, Udaipur, Vijaywada, Indore, Ajmer, Allahabad, Bhatinda, Belgaum, Bhavnagar, Bhilwara, Jamnagar, Kanpur, Kota, Salem, Ujjain, Warangal, Mehsana.

Axis Bank Personal Loan at a glance


Axis Bank Personal Loan
Annual Interest Rate 15.50% - 24%
Loan Term 12 Months - 60 Months
Loan Amount Rs. 50,000 - Rs. 15 Lacs
Time of Funding Within 48 hours of Approval
Pre-Closure Charges Nil

Axis Bank Personal Loan Rate of Interest


Personal Loan Type Applicable Interest Rate
Axis Bank Personal Loan for Salaried 15.5% - 24% per month
Axis Bank Personal Loan for Wedding 15.5% - 24% per month
Axis Bank Personal Loan for Holiday 15.5% - 24% per month
Axis Bank Personal Loan for Home Renovation 15.5% - 24% per month

Axis Bank Personal Loan Eligibility


Eligibility Criteria
Age 21 Years to 60 Years
Income Rs. 15,000 per month
Total Work Experience 2 Years
For Salaried
5 Years
For Self-Employed
  • Minimum Age of the applicant should not be less than 21 years at the time of loan application and maximum Age of the applicant should not exceed 60 years at the time of loan maturity.
  • Applicant should have a minimum net monthly income of Rs. 15,000 or above.
  • Salaried applicant must have a minimum 2 years of total work experience and Self-employed applicant must have a minimum of 5 years work experience in total regardless of business or professionals.

Axis Bank is a Good Fit for you if?


Applicants holding salary account with Axis Bank

If you have an existing salary account with Axis Bank where you're disbursing your salary currently, then Axis Bank is quite a good fit for you since you can avail personal loan with zero documentation and easy approvals, depending upon your credit history.

Average or Good Credit Score

Axis Bank offers personal loans to customers who have average to good credit score. You can easily avail personal loan from Axis Bank if you have a credit score of 750 or above. However, like all the other banks, axis bank approves the personal loan depending upon the credit history and repayment capacity of the borrower.

Wants to avail funds for holiday

Axis Bank is a good fit for you if you are a salaried applicant and wants to avail the personal loan for holiday. As for the holiday loan, Axis Bank offers the facility to pay only the interest rate on your loan amount with 2 months moratorium period. However, the interest rate would be charged during this moratorium period.

Wants to avail funds for marriage

Axis Bank is a good fit for borrowers who wants to avail funds for their own marriage or the marriage of their children. Axis Bank offers personal loan for marriage up to Rs. 15 Lacs regardless of applicant being salaried or self-employed.

Why Choose Axis Bank?


Nil Pre-closure Charges

Axis Bank is the best choice for you, if you’ve already planned to prepay your loan amount. Since, Axis Bank doesn’t charge any fee on personal loan prepayment as compared to other banks charging 2% to 4% under principal outstanding in case of foreclosure and 2% to 4% on prepaid amount in case of part-payment. If you are looking for no pre closure fee. IDFC First Smart Loans can also be a good options with similar interest rates, they allow you to make free pre closure fee.

What to watch out for?


High Rate of Interest Range

The interest rate that Axis Bank offers on personal loan is quite high as compared to some other banks like HDFC and SBI. Currently, Axis Bank charges an interest rate of as high as 24% of the loan amount as compared to HDFC Bank charging only 11.39% to 20.99% and SBI Charging only 11.65% to 15.05% on the loan amount.

High Processing Charges

Axis Bank charges a higher processing fee in comparison to other Lenders offering similar rate of interests. State Bank of India Charges a processing fee of 1.01% for its account holders while other private sectors lenders like Yes Bank and Indusind Bank also offer a lower processing fee.

EMI Bounce Charges

EMI Bounce charges on Axis Bank personal loan is quite high as compared to ICICI Bank charging only Rs. 400 and HSBC charging only Rs. 350 per instance.

Compare Axis Bank Personal Loan to Other Banks


Bank Name Axis Bank HDFC Bank SBI
Typical APR 15.5% - 24% 11.39% - 20.99% 11.15% - 15.05%
Loan Term 12 Months - 60 Months 12 Months - 72 Months 12 Months - 60 Months
Maximum Lending Amount Rs. 15 Lacs Rs. 50 Lacs Rs. 15 Lacs
Processing Fee 1.50% to 2.00% of the loan amount Up to 2.50% of the loan amount 1% of the Loan Amount
Time to Funding Within 48 hours Within 4 hours Usually within 2 to 3 working days
Pre-Closure Nil 2% to 4% Zero to Upto 3%

As compared to some other banks offering personal loans such as HDFC Bank and SBI Bank, Axis Bank charges high interest rates on personal loan. HDFC Bank charges interest rate ranging from 11.39% to 20.99% on personal loan, whereas SBI charges an interest rate ranging from 11.15% to 15.05% in compared of Axis Bank.

However, the advantage Axis Bank have over HDFC Bank and SBI, is that there are no charges applicable on prepayment of your Axis Bank personal loan regardless of the purpose of the loan, be it for wedding, home renovation or , whereas HDFC Bank charges a high prepayment charges ranging from 2% to 4% and SBI charges a prepayment charges of zero to up to 3%.

Loan Offerings


Axis Bank Personal Loan for Salaried

Axis Bank offers personal loan of up to Rs. 15 Lacs to Salaried Borrowers, where the minimum amount that you can borrow from the bank is Rs. 50,000. An eligible salaried borrower can be an employee working in private or public limited companies, employee of government organization including public sector undertakings and central/local government bodies or a salaried doctor.

Axis Bank currently charges an interest rate between 15.50% to 24% on the availed loan amount.

To be eligible for the salaried personal loan, the applicant should be at least 21 years of age at the time of loan application and must have repaid the loan in full by the age of 60 years where applicant must be earning a net monthly income of minimum Rs. 15,000.

Axis Bank Holiday Loan

Axis Bank offers a personal loan to customers who wants to avail the funds to enjoy a vacation, named Axis Bank Holiday Loan. The holiday loan scheme is similar to the Axis Bank Personal loan for Salaried where you can avail loan amount of minimum Rs. 50,000 to maximum Rs. 15 Lacs; However, the only difference is that you get 60 months moratorium period with holiday loan unlike personal loan for salaried. During this period, you would only have to pay the amount equal to the interest rate over the loan, not the principal amount itself. The EMIs for the loan starts after moratorium period ends, calculating from the date of loan disbursement. The moratorium period offered on holiday loan doesn't count in the loan tenure.

Alike personal loan for salaried, Axis Bank charges an interest rate of 15.50% to 24% with a processing fee ranging between 1.50% to 2% of the sanctioned loan. Apart from the 60 months moratorium period, what makes the holiday loan different from personal loan for salaried, is a complimentary forex card being offered to the foreign travellers. The forex card comes with the benefits like locked in exchange rate on currency conversion, ATM fee waivers of upto 3 withdrawals and discount of 3.5% currency charges on each swipe.

Axis Bank Personal Loan for Wedding

Axis Bank offers a personal loan for wedding which anyone can apply regardless of salaried, self-employed businessman or professionals as long as the applicant meet the eligibility criteria with being at least 21 years at the time of loan application and earning a net monthly income of Rs. 15,000 minimum.

Alike personal loan for salaried and holiday loan, Axis Bank charges an interest rate ranging from 15.50% to 24% on the monthly reducing balance on the personal loan for wedding along with one time processing fee between 1.50% to 2% of the sanctioned amount.

Axis Bank Personal Loan for Home Renovation

Axis Bank offers also offers a personal loan scheme for customers who wants to avail funds to renovate or to make improvements into their existing house. Axis Bank offers interest rate of 15.50% to 24% on these kind of personal loans and charges processing fee of 1.50% to 2% of the sanctioned loan amount.

Axis Bank Personal Loan Documents


Documents for Axis Bank Salaried Personal Loan

  • Recent Salary Slip
  • Bank Account Statement for last 6 months
  • Signature Verification Proof
  • KYC Documents with Recent Photographs

Documents for Axis Bank Holiday Loan

  • Copy of Travel Tickets
  • Copy of Visa documents and Passport in case of overseas travel
  • Last 3 months Salary Slip
  • Bank Statement for last 3 months
  • KYC Documents along with 3 Passport size photographs and signature proof

Documents to apply for the complimentary forex card

  • Copy of Passport
  • Form A2, compulsory for amount more than US $5,000 or it's equivalent in the miscellaneous foreign currencies.
  • Copy of Visa Documents
  • Copy of Airline tickets
  • Copy of PAN Card along with Aadhar Card

Documents for Axis Bank Wedding Personal Loan

  • Proof of marriage like Wedding Card
  • Bank Account Statement for last 6 months
  • Signature Verification Proof
  • KYC Documents with Recent Photographs

Documents for Axis Bank Personal Loan for Home Renovation

  • Proof of owning the house
  • Bank Account Statement for last 6 months
  • Signature Verification Proof
  • KYC Documents with Recent Photographs

Documents after loan sanction and before the disbursement:

  • Loan Agreement duly signed
  • Standing Instruction (SI) Request / ECS Form with Security Cheques.
  • Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers.

How do I apply for Axis Bank Personal Loan?


At Kredit

  • Check the Personal Loan Offerings listed above on the page and click on the “Apply Now” button.
  • Fill up all the required details and submit.
  • Choose a personal loan offer suitable for you.

After I've Applied?


Check Axis Bank Personal Loan Status

  • Click here to go Axis Bank Personal Loan tracking page.
  • Enter your personal loan application number and date of birth along with Captcha code.
  • Click on "Enquiry"

Note: The application status of your personal loan will appear on your screen.

Once I'm Approved


Receiving Personal Loan Welcome Kit:

  • A digital copy of your personal loan welcome kit will be sent to your registered email address within 2 to 3 days from the date of loan disbursement.
  • In case your email address is not registered with Axis Bank, you'll receive a physical copy of your personal loan welcome kit at your registered address within 15 days from the date of loan disbursement.

Checking Personal Loan Agreement:

  • Login to your Axis Bank net banking services and click on "Loans" option.
  • Now select the loan account number for which you want to check the loan agreement.
  • Click on "Loan Agreement" option

You'll also receive a copy of your personal loan agreement with the Welcome Kit.

Fees & Penalties


Type of Charge Applicable Charges
Processing Charges 1.5% - 2% of the loan amount
Prepayment Charges Nil
Penal Charges 2% per month on the overdue EMI
EMI Bounce Charges Rs. 500 per instance
Repayment Instrument Swapping Charges Rs. 500 per instance

As for the processing charges, Axis Bank charges processing fee ranging from 1.50% to 2% of the sanctioned loan amount in comparison to SBI charging the processing charges of 1% of the loan amount, whereas HDFC Bank's processing charges are as high as upto 2.50% of the loan amount.

Prepayment charges are nil on Axis Bank personal loan, so you can prepay your loan anytime you have the funds available with you; However, the prepayment can only be made after the repayment of first 12 EMIs.

FAQs


How long will it take for my Axis Bank Personal loan to be processed?

It takes 2 days usually to Axis Bank to process Personal Loan after submitting the complete documents. However, in some case it can take up to 30 days for the processing of Personal Loan.

How do I update my mobile number and E-mail address registered with my Axis Bank Personal Loan?

You can update your mobile number and email address in any of the following ways –

Is there any charge applicable for NDC (No Due Certificate) on Axis Bank Personal Loan?

Yes, you have to pay a fee of Rs. 500 on receipt of No Due Certificate (NOC) for Axis Bank Personal Loan.

What charges Axis Bank charge to the borrower for the CIBIL report copy for Personal Loan?

Currently, Axis Bank levies a charge of Rs. 50 for a CIBIL Report copy.

What are the costs associated with availing of Axis Personal Loan?

There are many additional charges levied on the customer when he/she apply for Personal Loan, such as following –

  • Processing Charges
  • CIBIL Report Issuance Charges
  • Stamp Duty Charges Issuance
  • Charges for Photocopy of Loan Agreement / Documents

There are some additional charges levied on specific circumstances such as Prepayment Charges, Part-payment Charges, Late Payment Fee and Cheque Bounce Charges etc.

Can I change my loan repayment instrument?

Yes, you can choose any instrument to pay your monthly Personal Loan EMIs. You can choose either of ECS (Electronic Clearing System), SI (Standing Instructions) or PDCs (Post-Dated Cheques).

What would be included in my Axis Bank Personal Loan Welcome Kit?

Your Personal Loan Welcome Kit would include the following contents –

  • Welcome letter
  • Agreement copy
  • Repayment Schedule
  • Key Fact Sheet
  • Code of Bank's Commitment to the Customer
Personal Loan
1 5 5
2019-08-21

Excellent Service.

I applied to Axis bank personal Loan and their representative helped me a lot in filling all documents and getting my loan approved.

Personal Loan
1 5 5
2019-08-21

Excellent Service.

I applied to Axis bank personal Loan and their representative helped me a lot in filling all documents and getting my loan approved.

Personal Loan
1 5 5
2019-08-21

Loved it - Axis Bank Personal Loan was so easy to apply

I just applied for an axis bank personal loan a week back and got my approvals in less than 12 hours. Kredit was quick to act on my application and held my hand through the process. Loved the experience. Highly Recommended!!!

Personal Loan
1 5 5
2019-08-21

Loved it - Axis Bank Personal Loan was so easy to apply

I just applied for an axis bank personal loan a week back and got my approvals in less than 12 hours. Kredit was quick to act on my application and held my hand through the process. Loved the experience. Highly Recommended!!!

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