The right Personal Loan is determined by several factors. Interest rates are one of them. Other factors to look at would include an easy approval system/quick disbursals, processing charges, and so on. A Personal Loan from Axis Bank ensures that you can meet all your goals with ease. Be it the perfect wedding for yourself or your child, the complete renovation of your home or a fun-filled holiday. Avail a Personal Loan starting from Rs. 50,000 up to Rs. 40 Lakh with minimal documentation and attractive interest rates.
However to make a duly informed decision be sure to go through the specifics of personal loan interest rates and charges applicable, below. These are subject to change basis the tenure of your loan and also highlight any ancillary charges that may be levied due to a change in payment tenures.
These include charges towards paying off your loan in part (over the agreed EMI) or entirely before its tenure is through, as well as charges levied in addition to the bank loan interest rates due to discrepancies in payment/non-payment of dues. So be sure to consider the interest rates and charges with respect to the amount to make the most of your availed loan. For further assistance in calculation you may also check the Personal Loan EMI Calculator.
Interest rates for Personal Loans with tenures of up to 36 months.
| Fixed Rate Loan |
1 Yr MCLR |
Spread over 1 year MCLR |
Effective ROI |
Reset |
| Personal Loan |
8.95% |
4.65%-13.65% |
10.49% to 22% |
No Reset |
Personal Loan Charges
Looking for a Personal Loan online? Axis Bank offers the most attractive interest rates and charges on Personal Loans. Refer the table below to know more.
Schedule of charges**
| Repayment instruction / Instrument return charges |
Rs.339/- per instance of dishonor of cheque /SI/ECS/NACH debit instruction + GST as applicable |
| Swap charges (Cheque/Instrument) |
Rs.500/- per instance + GST as applicable |
| Penal Interest |
@ 24% per annum i.e. 2% per month on the overdue installment. |
| Duplicate statement issuance charges |
Rs.250/- per instance per set + GST as applicable.
|
| Duplicate Amortization schedule issuance charges |
Rs.250/- per instance per set + GST as applicable. |
|
Credit Information Companies (CICs) Report Issuance Charges
|
Rs. 50/- per instance per set + GST as applicable.
|
| No Dues Certificate generation charges (Duplicate) |
Rs.50 per instance per set + GST as applicable. |
| Stamp Duty Charges |
As per State Stamp Act |
| Part Payment / Pre-Payment Charges |
5% + GST (As applicable)
*Pre payment charges shall be charged on principal outstanding.
*Part payment charges shall be charged on the amount of part payment.
|
**(Subject to change as per Bank’s discretion from time to time)
** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
Interest rate and schedule of charges for personal loans with tenure more than 36 months
| Rate of Interest |
10.49% to 22% per annum |
| Repayment instruction / Instrument return charges |
Rs.339/- per instance of dishonor of cheque /SI/ECS/NACH debit instruction + GST as applicable |
| Swap charges (Cheque/Instrument) |
Rs.500/- per instance + GST as applicable |
| Penal Interest |
@ 24% per annum i.e. 2% per month on the overdue installment. |
| Duplicate statement issuance charges |
Rs.250/- per instance per set + GST as applicable. |
| Duplicate Amortization schedule issuance charges |
Rs.250/- per instance per set + GST as applicable.
|
|
Credit Information Companies (CICs) Report Issuance Charges |
Rs. 50/- per instance per set + GST as applicable.
|
|
No Dues Certificate generation charges (Duplicate) |
Rs.50 per instance per set + GST as applicable. |
|
Stamp Duty Charges
|
As per State Stamp Act
|
| Part Payment / Pre-Payment Charges |
5% + GST (As applicable)
*Pre payment charges shall be charged on principal outstanding.
*Part payment charges shall be charged on the amount of part payment.
|
**(Subject to change as per Bank’s discretion from time to time)
** 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 rate and schedule of charges for personal loans with tenure more than 36 months
