ICICI Bank Personal Loan - Frequently Asked Questions/h1>

What is the turnaround time for decisioning a Personal Loan application?

Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 30 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.

What is the location and the timing of the Axis Bank Loan Center closest to me?

For a complete list of Axis Bank Loan Center addresses and hours of service, please click here.

What is the minimum and maximum amount of Personal Loan that I can get?

At Axis Bank, you can get a Personal Loan from Rs. 50,000 to Rs. 15 lakhs. Some of the factors we consider when deciding a loan amount are:

  • Your requirement and eligibility
  • Your income
  • Your repayment capacity

What is the tenure for which I can avail a Personal loan?

We offer you a flexible tenure ranging from 12 to 60 months. For more features of Axis Bank Personal Loans, please click here.

Do I need to pay a fee to apply for an Axis Bank Personal Loan?

Yes, banks charge a non-refundable processing fee for every Personal Loan application. The processing charge to avail of an Axis Bank Personal Loan ranges between 1.5% to 2% of the loan amount plus service tax as applicable.

Are there any charges after I get an Axis Bank Personal Loan?

There may be. To check the schedule of charges associated with transactions, please click here.

How do I keep track of my Axis Bank Personal Loan? For example, how do I get my statements, and repayment schedule?

You may place request for Statement of Account or Repayment Schedule or Interest Certificate in either of the following ways:

What are my different options for making my EMI payments? Is there a preferred one?

You may repay your Personal Loan in any of the following three ways:

  • Standing Instruction (SI): This mode can be used if you have an existing savings, salary, or current account with Axis Bank. You may wish to open a savings account with Axis Bank to use this option. Your EMI amount will be debited automatically at the end of the monthly cycle from the Axis Bank account you specify.
  • Electronic Clearing Service (ECS): This mode can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
  • Post-Dated Cheques (PDCs) : You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

We recommend that you opt for either the SI or ECS mode of payment as they are both faster and less prone to error than the use of PDCs.

Can I make part-prepayment towards my Axis Bank Personal Loan? Will any charge be applicable?

Yes, you can make a part-prepayment towards your Personal Loan at your nearest Axis Bank Loan Center. Currently, Axis Bank levies no charge for part prepayment.

How do I update my mobile number and the email address registered under my Personal Loan account?

You may update your mobile number and email address in either of the following ways:

  • By calling any of our toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577.
  • By using your registered email id to write to us at: loans@axisbank.com

How do I foreclose my Personal Loan? Will there be any charge for the foreclosure?

Before we process a foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your Personal Loan by requesting a foreclosure statement from your nearest Axis Bank Loan Center.
Once all outstanding dues have been cleared, please submit a foreclosure request at the Loan Center, and we will begin processing your request.
Currently, Axis Bank levies no charge for pre-closure of a Personal Loan account.

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