| Interest Rates & Charges* |
| Sr. no |
Product |
Rate of Interest (p.a.) |
| 1 |
24x7 Loan Against Securities (Digital) |
| Repo rate |
Spread over repo rate |
Effective Interest Rate |
Reset |
| 6.00% |
5.99% |
11.99% p.a |
Quarterly Revision or As decided by
Bank, whichever is earlier |
- Repo Rate Reset frequency - 3 months or As decided by Bank, whichever is
earlier.
- The Bank is free to decide the spread over the Repo Rate. The spread may undergo a
change during the tenure of the loan.
- Customers who have already availed disbursement or received a sanction prior to October
1, 2019 will continue to operate on MCLR. Existing customers can get in touch with our
customer care, if they wish to switch to Repo Rate.
|
| 2 |
Loan against Securities (Physical) |
| Repo rate |
Spread over Repo Rate |
Effective Interest Rate |
Reset |
| 6.00% |
5.50% – 7.25% |
11.50% - 13.75% |
Quarterly Revision or As decided by
Bank, whichever is earlier |
|
|
Renewal Charges
|
| Sr. no |
Product |
Charges |
| 1 |
Loan Against equity mutual fund |
Rs. 3500/- plus GST
|
| 2 |
Loan Against debt mutual fund |
0.1% of sanctioned loan amount or Rs. 5000/- which ever is lower + GST
|
| 3 |
Loan Against Listed bonds/Non Convertible Debentures |
0.1% of sanctioned loan amount or Rs. 5000/- which ever is lower + GST
|
| 4 |
Loan Against Life Insurance Policies. |
Rs. 3000/- plus GST
|
| 5 |
Loan Against equity Shares |
Rs. 3500/- plus GST
|
|
Other Charges
|
| Sr. no |
Type |
Charges |
| 1 |
Processing Fees (Non refundable) Charges |
Upto 0.50% of sanctioned loan amount or Rs 2500/- whichever is higher plus GST
|
| 2 |
Penal Charge |
- Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to
the aggregate not exceeding Rs. 1,00,000/- per instance)
- There shall be no capitalisation of Penal Charges.
- *Financial Default includes all types of payment or financial defaults/irregularities with
respect to your Loan Account.
|
|
3
|
NEFT |
As applicable at Bank Level* |
|
4
|
RTGS |
As applicable at Bank Level* |
|
5
|
Pledge Charges (Non-Refundable) |
As applicable
|
|
6
|
Charges for changing from fixed to floating rates of interest |
Not Applicable
|
|
7
|
Charges for changing from floating to fixed rates of interest |
Not Applicable
|
|
8
|
Prepayment Charges |
Not Applicable
|
|
9
|
No Due Certificate |
Not Applicable
|
|
10
|
Solvency Certificate |
Not Applicable
|
|
11
|
Stamp Duty Charges (Non-refundable |
As applicable
|
|
12
|
Cooling off period |
3 working days for both digital and physical loans Following to be levied on loans cancelled in cooling-off period:
- Proportionate interest till date of cancellation,
- Full processing fee, Stamp duty, other statutory charges and GST would not be waived / refunded
|
Charges for other service are levied as applicable to normal current account
With effect from 1st July 2017, Goods and Services tax (GST) will be charged extra as per the applicable rates, on
all the charges and fees (wherever GST is applicable)
For further details, please click
here For Interest Rates and Charges
*In case you need to cancel the loan within the cooling period. Please follow the below mentioned process. Visit Axis
Support Page (Click here) of the Axis banks website, click on connect via Email.
- Click on Start Selection here ❮Select Loans❯
- Click on continue select loan ❮Select Loan Product Type❯
- Click on choose your Query ❮Loan Cancellation❯
- Click on choose your query ❮How do I cancel my loan❯
- Click on Email tab and send the request along with the following details mentioned below.
*Account Number, Name on the Account, Registered Mobile number
**Working day shall mean all days except Sundays, 2nd & 4th Saturdays of the month & all stateholidays applicable as per Maharashtra (either planned or declared as followed by Axis Bank).
**No penalty is charged if the overdraft account is closed within the cooling off/ look up period (3 working days). Processing fees, stamp duty, pledge charges, other statutory charges (if applicable) and GST would not be waived/refunded in case of account closure within cooling off/look up period. However, if the customer utilizes the overdraft facility, then interest till the date of closure will be charged in case of account closure within cooling off/ look up period.
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