Get a Personal Loan Without Being an Axis Bank Customer - Here's How

5 MinsDec 08, 2022

Your mother is in the hospital fighting a critical disease. You had set aside an emergency fund and have health insurance too. However, the money falls short, and now you require the money the same day to pay the bills. What do you do now? 

How can a non-Axis Bank customer get a personal loan?

In today’s unprecedented times, no friend or relative can help you with instant cash. Inflation is at an all-time high, plus no one keeps liquid money at home. So what’s the way out to face the emergency?

Axis Bank is there to help you with their 24x7 personal loan service. Now, you can avail Personal Loans over mobile to meet emergency needs. With a few taps on your phone, you can get the money credited to your account.

New to Axis Bank? Be it the first time or the nth time taking a digital personal loan, the fear of fraud or leaking information creeps up. Are you worried about the documentation process and the security of your vital information? Axis Bank’s top priority is safeguarding you against any threat. We understand the damage that can happen due to negligence in securing personal information.

How safe is Axis Bank’s personal loan procedure?

Axis Bank takes the help of an Account Aggregator—the BFSI is focussed on leading the pack in adopting technologies. An Account Aggregator makes it comfortable for customers to interact with financial institutions like Axis Bank. It is subject to regulation by the RBI and works as the mediator that helps secure your vital information.

With the clients’ data security in mind, Account Aggregator can significantly speed up and reduce the cost of lending and wealth management. Data collection permits quicker processing and faster access to goods and services. It minimises the room for error, and your data is available online at one location.

Benefits of Account Aggregator in providing a secure environment to new customers:

  • Access to a single dashboard 24*7
  • No paperwork required
  • Effortless and quick
  • Processes data securely
  • Faster loan processing

Broad customer journey steps in securing a personal loan during an emergency:

Step 1. Log in with your Axis Bank customer login (using a mobile number). 

Step 2. Upload your personal and employment details verification using Aadhaar. 

Step 3. Upload your income assessment using the Account Aggregator. 

Step 4. Here, you can customise the loan amount and tenure of repayment. 

Step 5. Verify bank account for fund transfer and monthly repayment. 

Step 6. Verification using KYC. 

Step 7. Upload Aadhaar-based e-signature. 

Step 8. Your money will be credited on the same day if all goes well.  

[Also Read: Applying for 24x7 Personal Loans is a breeze for non-Axis Bank customers too]

Tips for availing an easy digital personal loan in times of need:

Maintain a healthy credit score
A healthy credit score is the first step in getting a hassle-free instant loan. Financial institutions pay a lot of attention to your credit score. A healthy score above 760 is recommended for easy availability of a loan. The lower the credit score, the lower the chances of getting loan approval.

Ask about loan prepayment
Borrowers are typically permitted to prepay their loans. Although you could choose a lengthier term, it’s a good idea to constantly look into the possibility of paying off your loan amount early. Certain fees are associated with the option to prepay debt, but doing so will spare you from paying the high-interest rate you would otherwise have.

Keep your documents up to date
Your documents play a necessary role in acquiring an instant personal loan. Especially in an emergency, you must save precious time in the documentation work.

Axis Bank’s Digital Personal Loan is readily available with the help of an Account Aggregator network. It is the safest, fastest and the most convenient way to have the money credited to your account. For seamless loan processing, contact Axis Bank or use our application. 

Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.