Axis Bank Personal Loan – Apply Online 2022
Want to enjoy the best personal loan interest rates starting at 12% per annum and pay EMIs that come easy to your budget? Looking for a loan that comes with minimal documentation and fastest approval? Well, all this and much more can be possible with Axis Bank personal loan. Let’s just know more about the same below.
Axis Bank Personal Loan Interest Rates February 2022 Axis Bank Personal Loan comes with a low-interest rate, minimal documentation and fastest loan approval. Other than this, the lender also offers higher loan amount and flexible tenure options, hence making it more convenient for the people to repay the loan. With Axis Bank personal loan rates and easy repayment options to choose from, your EMI burden will also reduce and your loan journey will become much smoother. Read this page further and get the detailed loan information in the table below. Particulars
Details
Interest Rate
10.25% - 21.00%
Loan Amount
INR 50,000 - INR 15 Lakhs
Tenure
12 to 60 Months
Processing Fees
1.50% to 2.00% of the loan amount + GST
Prepayment Charges
NIL
Security
Not Required
Axis Bank Personal Loan Calculator A personal loan EMI calculator online is a tool that calculates the monthly installment, Interest Outgo and Total Amount payable towards a loan. EMI or equated monthly installment is a combination of both interest and principal repayable every month. This tool works based on the following details: ● ● ●
Loan Amount Tenure Rate of Interest
Once you fill these details, the device starts fetching the values that you can see in the table below. For a better understanding, you can take a look at the example below and see the EMIs that an individual is supposed to pay if he takes a loan of INR 5 lakh at an interest rate of 15.75% for 5 years. Table Showing EMI, Interest Outgo, and Total Repayment Amount
LOAN
INTEREST
AMOUNT
RATE
MONTHLY TENURE INSTALMENT
TOTAL INTEREST
TOTAL
AMOUNT
AMOUNT
5,00,000
5.75%
45,306
43,676
5,43,676
5,00,000
5.75%
24,422
86,125
5,86,125
5,00,000
5.75%
17,517
1,30,607
6,30,607
5,00,000
5.75%
14,106
1,77,098
6,77,098
5,00,000
5.75%
12,093
2,25,563
7,25,563
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
YEAR
PRINCIPAL
INTEREST
BALANCE AMOUNT
1
71,368
73,744
4,28,631
2
83,457
61,655
3,45,173
3
97,593
47,519
2,47,579
4
1,14,124
30,988
1,33,455
5
1,33,611
11,657
0
The best thing about this smart and time-saving device is the fact that it allows you to know your EMIs in a hassle-free manner. Not only the EMI, you can also get to know the interest and total outgo over the course of a loan using this device. This is the reason why borrowers use this device regularly as it helps them take a calculative decision.