Personal loans are the easily available financial assistances from banks. Hassle less processing is the main advantage of these loans. Individuals are offered personal loans on the basis of their financial status and previous credit rating. Their interest rates are reasonable with convenient repayment tenure. There is no need to pledge any collateral for availing these loans. Since, personal loans are not meant for any particular purpose, they can be used for wide range of requirements. These financial assistances are more ideal for necessities like vacation trips, marriages, medical expenses, exam fees etc. Axis bank arranges quick and easy personal loans to their customers for meeting all emergency needs.
Availability of personal loans
People belong to the age group 21 to 60 are eligible to get Axis bank personal loans. For securing these loans, they are required to furnish relevant documents to prove identity, address, asset, and bank statements for the last three months, latest salary slips etc. Borrowers can prepay the outstanding premiums any time, if necessary. No separate fee is charged in this regard.
Features of Axis bank personal loan
- Axis bank Personal loans are the ideal financial assistance for all sorts of short term requirements.
- There are separate personal loans meant for professionals like doctors, engineers, architects, charted accountant etc.
- Loans are offered from Rs. 50,000 to Rs. 20, 00000 according to their requirements and financial status.
- Repayment periods are very attractive which varies from 12 to 60 months.
- The interest rates are competitive according to the prevailing market trends.
- Axis bank arranges accident insurance coverage to personal loan borrowers.
- The applicants need not specify the usage of personal loans.
- These loans are easily available to salaried as well as self employed individuals.
- There are facilities to transfer balance for those who want to withdraw from higher liabilities.
- Axis bank personal loans are also available to applicants depending upon their previous repayment ratings.
- Individuals having life insurance coverage are offered Axis bank loans against their premium receipts.
- Loans are granted by arranging zero balance savings bank account in favor of the respective customers.
- Easy dealings and less paper works enable the loans to be granted within no time.
- There are also facilities to apply these loans through online.
- Processing charge is only 2 % which will be deducted from the loan amount.
The personal loans with additional benefits arranged by Axis bank are attractive and affordable to common people. The intention in offering personal loans to customers is for meeting their urgent requirements when they are hardly in need of money. The accident insurance coverage offered to personal loan borrowers is really an appreciable factor. Their interest rates and repayment terms are very much competitive when compared to the personal loans of other banks. The hassle free nature and flexible features of these loans have made them popular among loan borrowers.