|Rate of Interest||15.5 to 24% per annum|
|Loan Amount||Rs 50,000 to 15 lakh|
|Loan Tenure||12 – 60 months|
|Lowest EMI||Rs 1325 (bring the lowest amount with the highest tenure)|
|Processing Fee||1.5 to 2% + Service Tax|
|Age criteria||Individuals between the age of 21 to 60 can apply|
Axis Bank offers personal loans to its customers at highly competitive interest rates. The bank takes numerous factors into consideration before they determine the real interest imposed. They may consider your income level, repayment capacity, your relationship while finalising the loan and various other eligibility criteria. As per the data of (May 2020), the interest rates varied from 15.50 to 24%. However, these interest rates are subject to change with situations and time.
People having a permanent job with a high salary are likely to get big amount of loans at lesser rates of interest. The parameters to judge a person’s job, wages and guarantee of repayment differ among self-employed individuals, salaried individuals, etc.
The tenure of loan determines the rate of interest. One may be implied a high-interest rate for a long tenure and visa versa.
A healthy relationship can get you loans at unusual interest rates. Suppose your records seem to be positive in terms of repayment of debts and trust with the bank, Axis Bank shall offer personal loans at attractive rates.
Personal loans can be extended at smaller rates if the bank believes you can pay the loan amount on time. Thus, the game of trust and a good history can help you get loans at attractive rates.
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