Life is full of uncertainties. You can't be sure about when you will need money. In a situation which can only be fulfilled by money, what should you do if you don't have enough money? Well, you could ask your parents or friends. But it is not a surety that you would get the money from them. That's where an Axis Bank personal loan comes into the picture. Although several banks provide the facility of Personal loans to customers, Axis Bank is quite popular among the customers due to its quick disbursal, affordable interest rates, and minimal documentation.
When you lend money from someone locally, you may provide something as security against the loan amount. However, in the case of an Axis Bank Personal Loan, you don’t need to provide any kind of collateral or security against the loan amount. But there are several important aspects of this loan facility that you should know. Application Process is one of the important among all factors. Other ones are eligibility criteria, features, and documents that you will require while applying for a personal loan. So, in this article, we will discuss the same so that you can understand the overall process better. Keep reading!
Axis Bank Personal Loan Application Process
There are a few steps that you need to do when you are going to apply for Axis Bank Personal Loan. Also, there are several methods to apply for it. You can apply via Online, Via Mobile Application, and via Offline (visiting the branch). We are showing you the steps involved in the online application method. Have a look.
First of all, visit the official website of Axis Bank where you will see the 'Personal Loans' section.
On reaching there, you will see the 'Apply Now' button at the bottom of the page.
Click on that button by which you will be redirected to a page where you will need to answer if you are an existing customer of Axis Bank or not.
After answering this question, you will be redirected to a page where you will need to fill in a few basic details.
These details will be your Name, Mobile Number, State, Employment Type, Residing City, Income Range, and Email ID.
After filling in all these details, you will need to submit this form. As soon as you will submit this form, you will be accepting the condition the representatives from Axis Bank can call you regarding your personal loan application form.
The representatives will tell you everything about the Axis Bank Personal Loan such as Loan Amount, Rate of Interest, and Tenure. You can choose according to your convenience.
So, these are the steps to apply for a personal loan from Axis Bank. If you don't want to apply online, you can always visit the nearest branch of Axis Bank where you can apply by filling the form manually.
Axis Bank Personal Loan Eligibility Criteria
When going for an Axis Bank Personal Loan or from any other lender, you need to qualify a few conditions to be eligible for it. We are showing them below. Have a look!
Only salaried employees like Salaried Doctors, Employees of Public and Private Firms, etc can apply for this loan from Axis Bank.
The minimum age should be 21 years. Individuals below this age will not be eligible for it. However, the maximum age can go up to 60 years at the maturity of the loan.
The minimum monthly income should be INR 15,000.
If you fail to meet any of these conditions, you will not be able to get a personal loan amount. So, it is important to keep these conditions in mind when you are going for a personal loan. If you are thinking about what is the minimum loan amount you can get from this personal loan facility, you should know that you can get as low as INR 50,000 at affordable rates for a period ranging from 1 to 5 years.
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