Axis Bank helps its customers when they are in a financial crisis by offering them a personal loan. It is different from the other loans as the borrower does not have to submit any collateral. If you’re an existing customer of Axis Bank, there will be a pre-approved loan for you. This benefit is available to customers when they have a good relationship with the bank. To check your Axis Bank Personal Loan pre-approved offer, log in to your account. If you’re not an Axis Bank customer, you can still get these personal loan benefits. Read this page below to learn more about it.
When Can I Borrow Axis Bank Personal Loan?
You can borrow a personal loan whenever there is a shortage of money. And you don’t need to worry about the loan repayment as it can be done in equated monthly installments. You can apply for an Axis Bank Personal Loan in case of the following –
- Medical Emergencies – If you’re facing a medical emergency and there has been a shortage of funds for the treatment, apply for an Axis Bank Personal Loan. With this, you can cover the cost of treatment.
- Marriage – Indian marriages are very expensive and can exhaust all your savings. So, to avoid that, get an Axis Bank Personal Loan. Using this, you can afford the marriage in affordable EMIs.
- Education – Overseas study is costly, and if you haven’t invested your money in any market instruments, it will be difficult for you to manage the expenses. Well, there won’t be any problem if you have an Axis Bank Personal Loan.
- Travel – Vacations are expensive and can ruin your monthly budget. Well, if you plan a vacation with an Axis Bank Personal Loan, it would be easy for you to afford the expenses with easy EMIs.
How Much Can I Borrow Using an Axis Bank Personal Loan?
Axis Bank Personal Loan allows you to borrow INR 50,000 to INR 15 Lakh. And because there is no collateral, the loan limit will be based on your repayment capacity. Below are the factors that will determine your loan amount –
- Age – Applicants aged 21 to 60 years can borrow an Axis Bank Personal Loan. Your age helps the lender determine the loan amount. If you’re younger, the life expectancy is high and there are more job opportunities for you. Whereas, an elderly applicant doesn’t have those advantages.
- Income – A minimum income of INR 15,000 per month is required for an Axis Bank Personal Loan. And with such an income you can’t borrow a high loan amount. So, if you want a loan of INR 5, 10 or 15 Lakh, make sure your income is more than the required limit. Because you can’t afford such loan EMIs with an income of INR 15,000.
- Employment – Any public or private company employee is eligible for an Axis Bank Personal Loan. And he/she can borrow a loan if the minimum work experience is one year in the current organization. Because a year’s experience shows that the applicant has a stable job.
What is the Axis Bank Personal Loan Interest Rate?
Axis Bank Personal Loan Interest Rate is a minimum of 10.49% per annum and the maximum is 21.00% per annum. If you compare this offer with others in the market, you’ll find Axis Bank gives you a better deal in terms of personal loan lowest interest rate. Because a lower interest rate can help you reduce the burden of EMI repayments.Â
When the EMIs are affordable, you can run your daily expenses without worrying about the finances as the EMI takes up a little space in your budget. So, apply for an Axis Bank Personal Loan and solve your financial problem.
