Axis Bank Personal loanAxis Bank Personal Loan Interest Rate @10.99%. Get your Personal Loan
Axis bank is one of the top most leading banks in India. Though being the private sector bank, its shares and dividends are monitored and governed by Reserve Bank of India (RBI).
The Axis bank was established in 1993 with the capital investment of 115 crores in that UTI alone has contributed 100 crore. Axis bank was promoted in the early period unitedly by union trust of India, life insurance Corporation of India, General Insurance Corporation of India, National Insurance Company Ltd and its subsidiaries.
Axis Bank Loan Procedure:
Axis bank personal loan help you to meet all your financial needs and personal requirements.
- Loans are available from 50, 000 to 15 00,000.
- Best interest rate.
- Simplified procedure
Basically the loan amount, interest rate and other charges associated with loan depends on the type of the company the borrower works, any other previous loans, credit cards, monthly net income after all deductions , duration of your current residence, total over all experience, age, the type of city the borrower resides in.
If the loan applicant works in MNC the interest rate varies from 12 to 15%. If it is other types of cat C and cat D the interest rate will go up further from 15%. Always one should consider reducing tenure of personal loan, as it brings down the risk factor associated with the loan.
Always the loan repayment period and the size of your EMI are inversely related. The longer the repayment period, lesser will be the EMI.
Personal loan eligibility for Salaried Individuals:
- The salaried person includes private companies, MNC company employees, public sector companies, central government employees.
- Minimum age limit for applying axis bank is 21 years, and maximum limit is 60 years.
- Minimum monthly net income should be 15000 after all the deductions.
- Maximum loan amount avail is Rs 15 lacs.
Documentation needed for Self Employed Persons:
- Latest Bank statement
- ILatest ITR or Form 16
- Business continuity Proof
The Axis bank Loan process
- There is certain process followed by Axis Bank.
- Collecting the all documents relevant to the loan
- Logging in the loan application in Axis bank
- Waiting for either approval or rejection status
- Signing of Loan Agreement with loan applicant
- Finally disbursal of loan amount in to the borrower's account by Axis Bank
Documentation needed for Salaried Persons:
- Identity proof - Government Id cards, PAN card, Driving license and photographs.
- Income Proof: Last three month pay slips and recent months bank statements
- Residence Proof: Ration card, latest phone bill, passport, Voter id containing mailing address.