Get All Information About Personal Loan Axis Bank Here

There are many wishes which we carry in our heart and long for them to be fulfilled. Some of us must be wishing to go to Paris while others want to renovate their house. Some might want to provide the best education to their children while others wish to provide their parents the best medical treatment. Wishes might be different but the solution for them remains the same. And that solution is known by the name personal loan. A personal loan proves to be very beneficial in case of any of the above requirements. One can find many products under this segment in the market. Personal loan Axis bank has emerged as a popular choice amongst the loan seekers due to quick approval and less documentation work.

The bank offers a finance to suitable applicants up to Rs. 15 Lakhs. The minimum amount that can be availed is Rs. 50,000. The tenure for repaying the loan is between one to five years. You will be happy to know that the bank allows you to carry over an existing loan of yours from any bank. When you secure a loan from the bank, you will be able to earn rewards points, which you can redeem later as per your choice. Read this article thoroughly to know about the product in detail.

Eligibility criteria-

The norms of eligibility imposed by the bank are as follows-

• The applicant should have crossed the age of 21 years while applying for a loan. This means he/she should be at least 21 years old at the time of application of loan.
• The applicant should not be over the age of 60 years when the loan matures. This clearly signifies that the loan has to be fully repaid within 60 years of age.
• The net income of the applicant each month should be at least Rs. 15,000
• The individuals who are eligible to secure finance from the bank include the likes of salaried doctors, employees of reputed private and public limited companies, salaried individuals, government sector employees in the central or states bodies or public sector undertakings and private & public limited companies.

Documents required-

The best part about the product is its minimal requirement of documents. The applicant is supposed to furnish the following documents to the bank-

• Fully filled application form
• Proof of Age- Birth certificate/High school mark sheet/Passport
• Proof of Identity-Passport/Aadhar card/Voter ID card/Driving license/PAN card
• Photographs of passport size
• Proof of Residence-Water bill/Passport/Telephone bill/Allotment letter/Electricity bill
• Income Proof- Salaried individuals: Income Tax returns of the previous two financial years, Form 16, and a latest salary slip
• Bank statement of the last six months
• Proof of signature verification- Passport/PAN card/Driving License

Interest rates and processing fees-

The bank offers a personal loan interest rate of 15.50% to 24%. Any applicant should keep in mind the interest he/she is securing as the interest rates play an important in determining the amount of money you will have to pay to successfully repay your loan. The processing fee between 1.50% to 2% is charged along with the service taxes. You should keep in mind that the processing fee is non-refundable There are no prepayment or foreclosure charges as such.

Personal Loan Axis Bank EMI Calculator-

It is essential to have a check on the amount of money you will have to pay as your monthly installment. Calculating the EMI is now easier, all thanks to personal loan Axis bank EMI calculator. Yes, that's completely true, my dear friend. With the magical tool at your disposal, you can easily calculate the monthly installments you will have to pay within few seconds. It will also give you information about the total interest payable. You are just supposed to enter the desired amount of money you wish to take, the rate of interest you have secured and the tenure of the loan. This tool is truly magical.

Suppose you take an amount of Rs. 1,50,000 from the bank at an interest rate of 17% for a tenure of two years. You will simply have to feed in the details of the same. The tool will instantly give you information about the monthly EMI that you will have to pay. Here, in this case, the amount is Rs. 7,416.

Don’t hold your dreams any longer. Approach the nearest branch of the bank or apply online or call on the toll free number of Axis bank. The toll free numbers are-  1800-2335-577 or 1800-209-5577 or 1800-1035-577.