Exploring the Monetary Details of Axis Bank Personal Loans

Axis Bank is one of the premier banks in India which is known to offer some high end and affordable personal loan schemes to the customers. Not too long ago, borrowing was considered to be a sin; but as the time passed, people started believing in this method of raising money. This is exactly how most of the banking institutions started offering personal loans to the customers who were in search of some urgent cash. An Axis bank personal loan can easily help you meet all your emergency financial requirements, no matter what it takes.

Axis Bank Personal Loans are Really Attractive

All types of Axis bank personal loan schemes are effective due to the fact that they are offered at really competitive rates. The bank has created special schemes to meet the requirements of all types of clients. You can easily get this loan just by submitting a few documents and showing your repayment capacity. You are not even required to give any security against the loan which is why the entire process becomes simple. With personal loans, you get around 1 to 5 years to repay the loan and so you’re able to fulfil all your requirements and save some money for the purpose of repayment.

Fundamentals of Axis Bank Personal Loans

Every applicant needs to submit certain documents to the bank, in addition to the duly signed application form, for being able to get a personal loan. The documents to be submitted include:

• Identity proof (passport, pan card or driving license)
• Residence proof
• Bank account statements
• Salary slips

Always remember that all such documents are a blueprint of your financial condition and so you should submit them after considering all the key factors.

Axis Bank Personal Loan Interest Rates

Almost everyone is aware of the fact that personal loans are quite expensive in terms of the rates of interest charged by the bank. However, Axis bank charges a decent interest rate on the different loan schemes. The rates of interest range between 15% to 24%, respectively, and the processing charges can go up to 2, depending upon the amount of money you’re taking up as loan. This fee is non-refundable even if you drop the idea of taking a loan.

Other Prominent Charges

When you apply for an Axis Bank personal loan, you don’t only have to pay the interest rate on your loan, but also other charges which are levied by the bank. Stamp duty and late fee charges are the most prominent charges which you’ll have to reimburse at some point in time. So, it is advised that you assess the total sum of money which you’ll have to pay every month for repaying the loan so that you don’t feel cheated later on.

Getting a Loan from Axis Bank

If you already have an account in the Axis bank, taking up a loan from them becomes way much simpler. People with their accounts in the similar branch tend to get an edge over the other applicants. So, talk to the bank authorities about the same and fill in the application form to get your loan.

It is important for every individual to explore the monetary details of an Axis bank personal loan before applying for one.