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Interest Rates on Personal Loans
Securing the ideal Personal Loan hinges on multiple elements, with Personal Loan interest rates taking center stage. Selecting a Personal Loan through Axis Bank can seamlessly align with your aspirations, whether it's for a lavish wedding or a comprehensive home makeover. Opt for a loan from ₹50,000 to ₹40 Lakh, accompanied by swift processing, minimal paperwork, and competitive rates.
Interest rates and charges
When considering a Personal Loan, it's essential to examine the low interest Personal Loan options available to you. Axis Bank offers Personal Loans with interest rates that begin at a competitive margin of 4.65% over the 1-year MCLR, resulting in an effective rate of interest (ROI) that ranges from a modest 9.99%p.a. to a maximum of 22% per annum. This ensures you have access to some of the lowest interest rate Personal Loans available in the market.
The range in the interest rates charged accommodates different financial profiles and loan requirements, maintaining Axis Bank's commitment to offering fair Personal Loan rates.
Personal Loan interest rates vary on a quarterly basis as they are linked to the bank’s MCLR rates. This average interest rate is calculated to provide transparency and help customers make informed financial decisions. Keep in mind that these rates are subject to various factors, including the loan amount and the customer's relationship with the bank.
To navigate these rates effectively and understand the potential charges on your Personal Loan, you may utilise tools like the Personal Loan EMI calculator by Axis Bank, ensuring you are fully informed about the financials related to your loan.
Interest rates for Personal Loans
| Product | Rate of Interest disbursed Jul'25 - Sep'25 | Mean Rate | |
|---|---|---|---|
| Min ROI per annum | Max ROI per annum | ||
| Personal Loan | 9.50% | 21.55% | 12.02% |
Note:
- It includes various categories like fixed rate/floating rate as applicable and is based on factors such as loan amount, customer relationships, etc.
- Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.
Personal Loan charges
Looking for a Personal Loan online? Axis Bank offers the most attractive interest rates and charges on Personal Loans. Refer the table below to know more.
Schedule of charges**
| Repayment instruction / Instrument return charges | ₹339/- per instance of dishonor of cheque /SI/ECS/NACH debit instruction + GST as applicable | ||
|---|---|---|---|
| Swap charges (Cheque/Instrument) | ₹500/- per instance + GST as applicable | ||
| Penal Charges | Financial Default*: 8% p.a. above applicable interest rate on the
overdue amount (subject to the aggregate not exceeding 24% per instance).
| ||
| 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 | |||
| EMIs paid | <=36 | >36 | |
| % Charge | 3% | 2% | |
*+ GST as applicable ** Excluding pre- EMI/broken period interest
| |||
| Processing fee charges | Up to 2% of the loan amount + GST as applicable | ||
| Loan cancellation charges | >1. 0-3 days- Interest till the date of cancellation, Processing
Fee, Stamp duty, other statutory charges (if applicable as and when) and GST would not be
waived/refunded in case of loan cancellation. 2. >3 days- It will be considered as foreclosure. | ||
**(Subject to change as per Bank’s discretion from time to time)
** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
**For loans onboarded through Sourcing partner/ LSP’s the features and rates schedule may vary. Click here for further details
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
Frequently Asked Questions
Axis Bank provides attractive Personal Loan interest rates, commencing at just 9.99% per annum, designed to optimise your savings on total borrowing expenses. For a detailed overview of loan charges and interest rates, please explore further here.
At Axis Bank, we extend Personal Loans with fixed interest rates, beginning from an affordable rate of 9.99% to simplify your financial planning.
The calculation of a Personal Loan interest rate hinges on your credit score, the loan amount, and your income. Use the Personal Loan EMI calculator available to estimate your monthly payments.
By enhancing your credit score, ensuring prompt repayments, and maintaining a low debt-to-income ratio, you can secure a more favourable Personal Loan interest rate, potentially reducing your EMIs.
Beyond the loan's interest rate, banks may apply additional fees such as processing, verification, and penalties for EMI defaults. Early repayment may also incur pre-closure charges.
Loan foreclosure occurs when you pay off your loan before the end of its term. Banks may impose certain charges for this early settlement as a form of pre-payment penalty.
Part-payment involves making a payment that is less than the full outstanding principal. Foreclosure is the option to pay the loan partially or fully before the tenure ends.
Yes, banks apply a Goods and Services Tax (GST) at a rate of 18% to the processing fees associated with Personal Loan.
Yes, Axis Bank levies a non-refundable processing charge for personal loan applications, typically ranging from 1.5% to 2% of the loan amount, in addition to the applicable GST.
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