Axis Bank Personal Loans in Bangalore
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 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.
How to apply for Axis Bank personal loan through FundsTiger
The following are the process of applying for Axis Bank personal loan on FundsTiger
Step 1: Visit FundsTiger Personal Loan page.
Step2: Fill out your personal details that are asked for.
Step 3: Wait for our credit team to contact you within 4 working hours.
Step 4: Our credit team will analyze your eligibility send your application to axis bank with the list of documents that are required to process your loan.
Step 5: If your loan application doesn’t go through with Axis Bank it will be tried with other potential lenders to be taken forward.
Step 6: Once all the verifications done loan amount will be disbursed into your account in 2 working days.
Documents Required for Axis Bank Loans
| Documents | Salaried Individuals |
| Identity proof | Pan Card/Passport/Election Card/Photo Identity issued by Government, Defence Services, Public Sector undertaking/Driving Licence/Photo Credit Card/Employees ID Card, Letter/card issued by UIDAI containing the details of name, photograph, address, and Aadhaar number. |
| Income proof | Latest salary slip showing all deductions or Form 16 along with current dated salary certificate or ITR (last 2 years). |
| Residence proof | Bank Account Statement/ Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill/ Employers letter certifying current mailing address/Passport (Valid)- provided the passport address is present address mentioned in the application form / Existing Registered House Lease/ Government I-card with photo and address/ Ration Card/ Latest Property Tax / Water Tax bill. |
| Signature Verification | Valid Passport /Pan Card/ Processing Fee Cheque/ Banker’s Verification Letter. |
| Proof of telephone | Latest bill of landline or mobile or WLL stating the name of borrower or address of the borrower. |
| Guarantor | Optional |
- Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers
- Documentary proofs required may vary from customer to customer
Eligibility for Axis Bank Personal Loan
Turn your dreams into reality with a Personal Loan from Axis Bank. Take that vacation you have been delaying or complete the home renovation that has been pending. With an Axis Bank Personal Loan, you can do it all. You can use the Personal Loan EMI Calculator to calculate your monthly instalments way before you apply for a loan and have a definite estimate of your monthly payments well in advance.
Individuals who can take a Personal Loan
- Salaried Employees
- Salaried doctors
- Employees of public and private limited companies
- Government sector employees including Public Sector Undertakings, Central and Local bodies
- Minimum age of 21 years
- Maximum age of 60 years at the time of maturity of the Personal Loan
- Minimum net monthly income – Rs. 15,000
- Documents required
- Duly filled application form
- KYC documents
- Loan Agreement duly signed and Standing Instruction (SI) Request / ECS Forms
Interest Rates and Other Charges for Axis Bank Personal loans
| Interest Rates & Charges | |
| Rate of Interest | 15.00% to 20.00% |
| Loan Processing Charges | 2 |
| Cheque Bounce Charges | Rs. 500 per cheque bounce + Service Tax as applicable |
| Cheque/Instrument Swap charges | Rs.500 per instance + Service Tax as applicable |
| Foreclosure Charges | Nil |
| Default Interest Rate | @24.00% per annum i.e 2% per month on the overdue installment |
| Duplicate Statement Issuance Charges | Rs 250 per instance + Service Tax as applicable |
| Duplicate Amortization Schedule Issuance Charges | Rs 250 per instance + Service Tax as applicable |
| Issuance Charges for Photocopy of Loan Agreement/Documents | Rs 250 per instance + Service Tax as applicable |
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 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 up to 30 days.
How to get the best offer on Axis Bank Personal Loan?
You can get the best personal interest rates from Axis Bank subject to an assessment of your loan amount, salary, other obligation company you work with, and loan tenure. The following factors determine the personal loan rate of interest you can expect to get from Axis Bank:
- Loan Amount – This is the amount borrowed by a borrower from the bank. Generally, banks offer lower interest rates for higher amounts. Axis Bank offers loans between ₹ 50,000 and ₹ 25 Lakh.
- Salary – Income defines your capacity to repay the loan. Higher salary bracket individuals are offered loans at lower interest rates. The interest rate of the bank varies with your net monthly income.
- Employer Category – Axis Bank has an internal list of companies falling into categories that are ranked from high to low company categories based on the company’s size, reputation, and existing relationship with the bank. Employees who belong to companies in higher company categories get attractive discounts and low-interest rate loans.
- Relationship with the Bank – Axis Bank offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in the past will get the benefit of a low Axis Bank loan interest rate.
- Loan Tenure – Personal loans are of shorter tenure ranges from 12 months to 60 months as they are taken to meet their immediate requirements.
- Repayment Capacity – Before giving a loan to the borrower, Axis Bank checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has the repayment track record of previous loans taken. CIBIL also captures information of credit card bills payment.
Axis Bank Credit Cards
Axis Bank Credit Cards cater to the varied lifestyle needs of individuals including travel, shopping, rewards, cashback etc. Axis Bank offers reward points and cashback credit cards to maximise savings on your transactions. You will also get gift vouchers or points as joining perks when you apply for a card. Redeem these points for hotel bookings, flight tickets, e-vouchers, and more. Read more from the link below
For SBI Bank Personal Loan
State Bank of India, one of the biggest lenders in the country, offers a range of personal loan schemes to help you out in times of distress. State Bank of India offers personal loans under four categories – SBI Pension Loan, SBI Xpress Credit Personal Loan, SBI Saral Personal Loan, and SBI Festive Season Loan. Compare SBI with other Personal loan banks for Interest Rates.
For HDFC Bank Personal Loan
HDFC Bank offers a Personal Loan to pre-approved customers in just 10 seconds. For others, it usually takes about 4 hours. As an already existing customer, you can apply via NetBanking on the HDFC Bank website, through an ATM or Loan Assist App. Otherwise; you can drop by the nearest branch to get the process started.
For ICICI Bank Personal Loan
A Personal Loan from ICICI Bank in Bangalore, or any other Indian city, helps you meet your diverse financial needs, including during an emergency. It is an unsecured loan and can be used for marriage expenses, paying the medical bills, going for your dream vacation, or renovating your home. Irrespective of what your personal financial goals are, ICICI Bank Personal Loan offers you the perfect solution.
FundsTiger can arrange loans from almost all the banks. You can apply for an attractive offer with the best possible rate of interest and terms for Personal Loan, Business Loan, Home Loan, and Car Refinance Loan.