The Axis Bank Personal Loan gives salaried borrowers up to ₹40 lakh with interest from 9.99% a year and a tenure of up to 84 months. It also offers a balance transfer option, so you can move an expensive existing personal loan to Axis Bank and potentially save on interest.
Key features
| Loan amount | Up to ₹40 lakh |
|---|---|
| Interest rate | From 9.99% a year |
| Tenure | Up to 84 months |
| Balance transfer | Available |
| Process | Quick approval and disbursal with minimal paperwork |
How much will the EMI be?
Here is what EMIs look like at an illustrative 9.99% a year, the starting rate. Your actual rate depends on your profile and may be higher.
| Loan amount | Tenure | Monthly EMI | Total interest |
|---|---|---|---|
| ₹2,00,000 | 2 years | ₹9,228 | ₹21,473 |
| ₹5,00,000 | 3 years | ₹16,131 | ₹80,725 |
| ₹10,00,000 | 5 years | ₹21,242 | ₹2,74,527 |
| ₹20,00,000 | 7 years | ₹33,192 | ₹7,88,131 |
Stretching to 84 months lowers the EMI, but the total interest grows significantly. Choose the shortest tenure that fits your budget.
Using the balance transfer
If you already have a personal loan at a higher rate, transferring the outstanding balance to Axis Bank at a lower rate can cut your EMI or total interest. Before you switch, compare the savings with the processing fee and any foreclosure charges your current lender applies.
What can you use it for?
A personal loan of this size can cover almost any planned or unexpected expense: a wedding, home renovation, higher education, medical treatment, travel, or consolidating several costly debts into one EMI. It is unsecured, so you don’t need to pledge property, gold or a guarantor.
Why existing Axis customers have an edge
If you already bank with Axis, the minimum income drops from ₹40,000 to ₹30,000 a month. The bank can also see your salary credits and account history, which can make verification smoother. If you are new to Axis Bank, a strong credit score and steady employment history will help you get a better rate.
Eligibility
| Age | 21 to 60 years |
|---|---|
| Employment | Salaried only |
| Income (existing Axis customer) | ₹30,000 a month |
| Income (new to Axis Bank) | ₹40,000 a month |
| Credit score | 700+ |
| New to credit? | Not allowed |
Documents you will need
- Identity: PAN card
- Address: Aadhaar, passport, driving licence or voter ID
- Income: bank statements and pay slips for the last 3 months
How to apply
- Tap Apply on Axis Bank site on this page. The application opens on MyEazyLoan’s website.
- Fill in your details in the same session using your Aadhaar-linked mobile number.
- A loan executive will call you back to help with documents and next steps.
- Complete verification and video KYC from your current address, accept the offer and receive the funds.
Before you sign
- Compare the offered rate with the starting rate; most borrowers get a rate based on their score, income and employer.
- Check the processing fee and any prepayment or foreclosure charges in the loan agreement.
- Keep total EMIs under about 40–50% of your take-home pay, including existing loans and card EMIs.
- Choose the shortest tenure you can comfortably afford to keep total interest down.
Who it suits
A good fit for salaried borrowers with a 700+ score who want a large amount at a competitive rate from a major bank, or who want to refinance a costlier loan. Look elsewhere if you are self-employed or new to credit, as this offer won’t accept you.
