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Personal Loan of ₹5 Lakh
Financial needs can arise unexpectedly or as part of planned events, and Axis Bank is well-equipped to cater to these demands through its Personal Loan services. Whether you're facing an urgent requirement or planning for a future expense, you can easily get a ₹5 lakhs loan from Axis Bank.
₹5 lakhs Personal Loan EMI for 1 year
The following details will help us to calculate a Personal Loan of ₹5 lakhs EMI.
| Loan Amount (₹) | 5,00,000 |
|---|---|
| Interest Rate (p.a.) | 9.99% - 22% |
*considering 11% interest in the below scenarios.
₹5 Lakh Personal Loan EMI
| EMI for 1 year | EMI for 3 year | EMI for 5 year | |
|---|---|---|---|
| Equated Monthly Instalments (EMI in ₹) | 44,191 | 16,369 | 10,871 |
| Principal Amount (₹) | 5,00,000 | 5,00,000 | 5,00,000 |
| Interest Amount (₹) | 30,290 | 89,297 | 1,52,273 |
| Total Amount Payable (₹) | 5,30,290 | 5,89,297 | 6,52,273 |
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 ₹5 lakhs Personal Loan online at Axis Bank?
Signing up for ₹5 Lakhs Personal Loan is a fairly simple and easy process. All you need is to follow the below mentioned steps.
- 01
To start your ₹5,00,000 loan application, click on this link .
- 02
Enter your mobile number, PAN card and Date of Birth.
- 03
Verify your mobile with 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 your documents are in order and if your ₹5 lakhs loan is approved and your funds will be disbursed within a few hours.
Eligibility for Personal Loan up to ₹5 lakhs
Documents required for ₹5 lakhs Personal Loan
Additional Documents for salaried individuals
₹5 Lakhs Personal Loan Fees & Charges
Detailed breakdown of ₹5 Lakhs Personal Loan fees and charges for your convenience.
₹5 Lakhs Personal Loan Fees & Charges
Detailed breakdown of ₹5 lakhs Personal Loan fees and charges for your convenience.
| 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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Frequently Asked Questions
Your Axis Bank ₹5 lakhs Personal Loan is processed quickly and can be disbursed in a few hours provided that you have applied for the ₹5 lakhs Personal Loan online.
Yes, you can obtain a ₹5 lakhs Personal Loan from Axis Bank without providing any collateral. Axis Bank offers unsecured Personal Loans based on your credit profile and income, not on collateral.
For an instant, ₹5 lakhs Personal Loan, Axis Bank typically looks for a credit score of 720-750 or above. A higher credit score improves your chances of approval and may secure you a better interest rate.
Axis Bank requires certain documents for processing your loan application. But existing customers as well as new customers who have pre-qualified loan offers from Axis Bank may benefit from online paperless loans.
Obtaining a ₹5 lakhs Personal Loan without income proof is challenging, as income verification is a key part of assessing your loan eligibility. However, if you have a strong relationship with the bank or an exceptional credit history, Axis Bank may consider other factors to evaluate your application. You can verify income online or upload income documents during the safe and secure online journey.
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