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Personal Loan of ₹1 Lakh
When faced with a sudden need for funds, a Personal Loan is the best option for you. It is easily available without any collateral. Whether it is an urgent or unexpected need or a planned expense, a Personal Loan from Axis Bank allows you to meet your expenses easily, without any burden on your pocket.
Axis Bank provides a flexible short-term loan of ₹1 lakh to address your urgent financial needs. Whether it's an urgent medical bill, renovating your home or managing existing debt, you can avail yourself of a Personal Loan of ₹1 lakh easily at Axis Bank.
₹1 lakh Personal Loan EMI for 1 year
With the following details, let us calculate a ₹1 lakh loan EMI for 1 year.
| Loan amount (₹) | 1,00,000 |
|---|---|
| Interest Rate (p.a.) | 9.99% - 22% |
*considering 11% interest in the below scenarios.
₹1 Lakh Personal Loan EMI
| EMI for 1 year | EMI for 3 year | EMI for 5 year | |
|---|---|---|---|
| Equated Monthly Instalments (EMI in ₹) | 8,838 | 3,274 | 2,174 |
| Principal Amount (₹) | 1,00,000 | 1,00,000 | 1,00,000 |
| Interest Amount (₹) | 6,058 | 17,859 | 30,455 |
| Total Amount Payable (₹) | 1,06,058 | 1,17,859 | 1,30,455 |
Great plans start with well-calculated decisions
Personal Loan EMI Calculator
A Personal Loan EMI calculator is an important tool that helps borrowers know the exact amount they are required to pay as an EMI every month to repay their Personal Loans. The online Personal Loan EMI calculator uses parameters such as loan amount, tenure and interest rate to calculate the EMI details for borrowers who have taken a Personal Loan from a bank or a financial institution or are looking for a Personal Loan.
₹
10K
40L
%
9% 22%
Mos
384
Your EMI*₹ 1,14,678
Get instant funds*Equated Monthly Installment'
Note: To see amortization schedule, please click here.
Total Amount Payable
1,37,621
Personal Loan Eligibility Calculator
A personal loan eligibility calculator comes in handy when you need an instant idea of the maximum amount of loan you are eligible for. Personal loan provides you financial support when life takes an unexpected turn or when you need some extra funds to fulfill your goals and ambitions. Whether planning a wedding or giving your home a new interior, personal loan can ease your financial burden. However, checking all the boxes on the personal loan criteria is crucial to getting your application approved. These criteria determine what amount can be sanctioned to you.
That is where a personal loan eligibility calculator helps you. How, you ask? Let us understand.
You are eligible for up to
₹ 15,00,000
How to apply for ₹1 lakh Personal Loan online at Axis Bank?
Applying for a Personal Loan of ₹1 lakh has been simplified for your convenience. Follow these steps to start your online application:
- 01
To start your ₹1 lakh loan application, click on this link.
- 02
Enter your mobile number, PAN card and date of birth.
- 03
Verify your mobile with the OTP.
- 04
Upload six-month bank statements and salary slips or verify income online.
- 05
Complete eKYC and video KYC.
- 06
Authenticate Aadhaar with OTP.
- 07
Provide employment and education details.
- 08
Choose loan amount and tenure. Confirm details and click "avail now".
- 09
If approved, your funds will be disbursed within a few hours.
Eligibility criteria to get a Personal Loan of ₹1 lakh
For a ₹1 lakh Personal Loan from Axis Bank, the eligibility criteria are as follows:
Documents required for ₹1 lakh Personal Loan
₹1 lakh Personal Loan fees & charges
Fees and charges to avail a loan for ₹1 lakh
| Type of charges | Charges |
|---|---|
| Repayment instruction / Instrument return charges | ₹339/- per instance of dishonour of cheque /SI/ECS/NACH debit instruction + GST as applicable |
| Swap charges (Cheque/Instrument) | ₹500/- per instance + GST as applicable |
| Penal interest | @24% per annum i.e. 2% per month on the overdue instalment. |
| Duplicate statement issuance charges | ₹250/- per instance per set + GST as applicable. |
| Duplicate amortisation schedule issuance charges | ₹250/- per instance per set + GST as applicable. |
| Credit Information Companies (CICs) report issuance charges | ₹50/- per instance per set + GST as applicable. |
| No dues certificate generation charges (Duplicate) | ₹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) for loans disbursed 4th October, 2023 onwards: Fee for more than 36 months, 2% fee is applicable otherwise 3% |
| Processing fee charges | up to 2% of the loan amount + GST as applicable |
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Important links
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Frequently asked questions
The processing time for your ₹1 lakh Personal Loan with Axis Bank is just a few hours for a successful online application. If you apply offline, it can take up to a few days to get your loan approved.
Absolutely, you can secure a ₹1 lakh Personal Loan from Axis Bank without any collateral. These loans are unsecured, which means they don't require you to put up any assets as security. Your eligibility will be evaluated based on your credit score and income.
For an instant ₹1 lakh loan from Axis Bank, having a credit score of 720-750 or above is generally advisable. A higher credit score not only enhances your chances of getting the loan approved but may also qualify you for more favourable interest rates.
Online, paperless loans are available for existing Axis Bank customers who have pre-approved loans as well as users who do not have any existing relationship with us. However, additional documents may be requested by the bank on a case-to-case basis. These are used to verify regulatory details so that your loan can be processed smoothly.
Securing a loan from Axis Bank without providing proof of income can be challenging since income documents are crucial for assessing your ability to repay the loan. However, if you have a strong banking relationship with us, an excellent credit history, or significant financial assets you can get in touch with the bank. One can verify income online or upload income documents during the safe and secure online journey.
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