Axis Bank Personal Loan EMI Calculator – Your Budget Calculator

Using a loan EMI calculator not only helps in planning your future finances but also is a comparison tool. You can compare different loan deals given to you and then finalize which lender is offering the best deal.

Axis Bank personal loan EMI calculator can prove to be a great choice as it is easy to use. If you are planning to take the loan from Axis Bank, you can simply put in a few details and know your monthly installments. In this article, we have provided personal loan details

Axis Bank Personal Loan Interest Rate 2018

At present, personal loan interest rates at Axis Bank range from 15.50%-24% per annum wherein the final rate is decided by keeping into account the income of the applicant. Since, loan are debts, income of the applicant is the most important factor while calculating the rate of interest.

Axis Bank Personal Loan Eligibility

The eligibility criterion that an applicant has to match for a personal loan at Axis Bank is mentioned below as per the profession:

For Salaried:

  • Maximum age of the applicant must be 58 years
  • Minimum Net Monthly Income should be ₹15,000
  • Maximum loan amount is ₹15 lakhs
  • Minimum service period with current employer should be 1 year
  • Good CIBIL score

For Salaried:

  • Minimum age of the applicant should be 24 years
  • Maximum age of the applicant must be 65 years
  • Minimum Net Annual Income should be ₹2 lakhs
  • Maximum loan amount is ₹15 lakhs
  • Minimum work experience in current Business or Profession should be 3 years
  • Good CIBIL score

Personal Loan Calculator

Just like there is Axis Bank home loan EMI calculator which tells you the monthly installment on housing loans, Axis Bank Credit Card EMI calculator which is used to calculate the EMI which you are liable to pay for the selected tenure, a personal loan calculator shows the monthly installment on a personal loan. The calculator is used to pay off both the interest and principal each month for a particular period of time that is the loan tenure. This tool works on the basis of the following details:

  • Loan Amount
  • Tenure
  • Rate of Interest

Let us suppose that you have applied for a personal loan at Axis Bank and want to check your future so as to be prepared for the payment and manage your finances accordingly. Your loan amount is ₹15 lakhs, the tenure of 5 years and has been offered the interest rate of 15.50% p.a. by Axis Bank that is:

  • Loan Amount- ₹15,00,000
  • Tenure-5 years
  • Interest Rate- 15.50% p.a.

The payments from your end will be as follows:

EMI: ₹36,080

Total Interest Outgo- ₹6,64,787

Total Amount (Interest + Principal) – ₹21,64,787

Where can you apply for the loan?

Now that everything is available online so is Axis Bank personal loan. You can visit bank’s official website and apply there itself. You can download the documents as well. The procedure is time-saving and instant as compared to the offline.

News Reporter
Srishti Singh is a professional financial writer who has written on various financial products like personal loans, home loans, credit cards & mutual fund investment, etc. She believes in delivering best of her knowledge so as to help the readers understand the product and be aware of their financial decisions.

Leave a Reply

Your email address will not be published. Required fields are marked *