AXIS bank provides hassle-free personal loan facilities to various salaried individuals at attractive interest rates. Its benefits include simple procedure and documentation along with the balance transfer facility to escape higher interest rates of previous loans. AXIS bank offers great value and many options for a loan seeker. AXIS bank is known as a fast and aggressive lender when it comes to personal loans.
AXIS Bank advances loans for a variety of reasons including personal loans, marriage loans, renovation loans, travel loans, mortgage loans and business loans.
One can avail personal loans from Axis Bank for your child’s education, dream vacation, wedding, home renovation or for any other personal reasons. Once you have decided to take a loan the next step would be applying for a loan. You need to be above 21 years of age and have a minimum monthly salary as set by the bank and an acceptable CIBIL Score for quick approval.
The approval process for a personal loan is dependent on the CIBIL score of the applicant. If a person is having a good CIBIL score that is around 750 or above out of 900 then he/she is likely to get the better interest rates as in that case the profile of the applicant appeals the lender. In fact.
Every time an individual avails a loan or credit card, the information is shared by the member bank to CIBIL on a monthly basis. This information is used to generate a Credit Information Report which is shared with lenders and other financial institutions. Banks refer to the Credit Information Report to avoid bad loans by lending to borrowers who aren’t credit-worthy.
CIBIL collects and organises an individual’s credit and repayment history and provides this information to member banks. Every time a bank requests a Credit score, CIBIL generates a new control number and gives the individual’s information to the bank.
Alternatively, the applicant can personally check his/her CIBIL Score. The credit score ranges from 300-900.
Get instant online approval for Axis bank personal loan if you fulfil their exact eligibility criteria and have a good credit rating on CIBIL. To know more about CIBIL rating and how it affects your ability to get the best personal loan from Axis bank, visit our page on credit rating and calculate your approximate score with our CIBIL calculator.
Documents Required For Axis Bank Personal Loan
Salaried: Latest 3 years Payslip, 6 months Salary account bank statement &, Latest year Form 16.
Self-employed: Latest 2 years ITR, Financial Documents (P & L account, Balance Sheet, Schedules to Balance Sheet & Tax Audit report) & 6 months Company primary Current account statement
Your current obligations i.e. the other installments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use
Pan Card, Secondary ID Proof (DL, Adhaar card, Voter's ID) & Passport size photo
Proof of Employment/Business Continuity
Salaried: Form 16 or Appointment letter, dated 2 years or earlier period
Self-employed: ITR or Sales/Service Tax registration certificate, dated 2 years or earlier period
Property Documents (In case of HL/LAP)
Under construction property - Allotment letter, Proof of booking amount paid and Payment schedule
Ready Property - Sale Deed, Parent Documents, Property tax paid certificate (Latest), Khatha (7/11 extract) and Latest EC
Plot & Self-construction - Sale Deed, Parent Documents, Khatha (7/11 extract) and Latest EC
Eligibility for Axis Bank Personal Loan
Minimum 2 years of work experience; in case of self-employed, minimum 2 years of business continuity
Minimum age of 21 years and maximum age for 60 years (loan completion age)
Minimum take home income of Rs.25000/- per month
Co-applicant applicable in case of HL & LAP, Spouse/Parents/Children.
Axis Bank Personal Loan Rate of Interest
This credit facility offered by Axis Bank is available with a low-interest rate, minimal documentation and fastest loan approval. Other than this, the lender also facilitates the higher loan amount and flexible tenure on loans, hence making it more convenient for the people to repay the loan without any hassle. With the competitive Axis Bank personal loan rates and easy repayment options to choose from, it would not be wrong to say that your EMI burden will also reduce, hence your loan journey will become much more smoother. In order to know more about this credit facility, read this page further and get the detailed information in the table below.
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