Axis Bank Personal Loan of 20000

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Kirti Bansal

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Piyush Bothra

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Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Looking for an easy, flexible, and short-term personal loan offer? Axis Bank personal loans offer up to 40 lakhs. If you need an Axis Bank Personal Loan of 20,000, the scheme is available at interest rates ranging from 10.40% to 21% for every need of yours. With features like hassle-free processes and quick loan transfers, it has been a popular choice amongst many borrowers. However, the bank has established certain guidelines for obtaining personal loan approval. Apply for an Axis Bank loan with the Urban Money website and enjoy quick disbursal and unlimited benefits. Keep reading to discover other essential factors of a 20,000 personal loan by Axis Bank.

Axis Bank personal loan 20,000 – Highlights

Take a quick look at the highlights of Axis Bank personal loan 20,000:

Feature	Description
Maximum Loan Amount	INR 40 Lakhs
20,000 loan Interest Rate	Starting from 10.49% p.a.
Tenure	Up to 84 months
Processing Fee	Up to 2% of the loan amount (excluding GST)
Prepayment Charges	Nil

Axis Bank 20000 Personal Loan EMI for 10 Years

Here’s the Breakout of 20,000 personal loan EMI:

Tenure (In Years)	Amount	Interest Rate	Total Interest Payable	EMI
1 year	20,000	10.49%	₹866	Rs. 1,322
2 years	20,000	10.49%	₹1,694	Rs. 696
3 years	20,000	10.49%	₹2,549	Rs. 487
4 years	20,000	10.49%	₹3,431	Rs. 384
5 years	20,000	10.49%	₹4,340	Rs. 322
6 years	20,000	10.49%	₹5,276	Rs. 282
7 years	20,000	10.49%	₹6,238	Rs. 253
8 years	20,000	10.49%	₹7,226	Rs. 232
9 years	20,000	10.49%	₹8,240	Rs. 215
10 years	20,000	10.49%	₹9,278	Rs. 202

Compare 20000 Personal Loan from Other Banks & NBFC.

Let’s consider a scenario where you have taken a personal loan of 20,000 at a minimum interest of 10.49%. In the case of a 20,000 personal loan EMI schedule will be as follows:

Bank/NBFC	Interest Rate	Processing Fee	Tenure
Axis Bank	Starting from 10.49% p.a.	Up to 2%	Up to 60 months
HDFC Bank	Starting from 10.50% p.a.	Up to 3%	Up to 60 months
ICICI Bank	Starting from 10.50% p.a.	Up to 2.5%	Up to 60 months
Kotak Mahindra Bank	Starting from 10.99% p.a.	Up to 3%	Up to 60 months
Fullerton India	Starting from 11.99% p.a.	Up to 6.5%	Up to 60 months

Axis Bank Personal Loan 20000- Fees & Charges

A quick look at the fees and charges by Axis Bank for personal loan 20000:

Processing Fee: Up to 2% of the loan amount
Foreclosure Charges: Nil
Prepayment Charges: Nil
Repayment Instruction: INR 339 per instance (Exclusive GST)
Instrument Charges: INR 500 per instance (Exclusive GST)
Duplicate Issuance Charges: INR 250 per instance (Exclusive GST)
Stamping Charge: As per the State Stamp Act
Credit Information Companies Report Issuance Charge: INR 50 per instance (Exclusive GST)

20000 Axis Bank Personal Loan – Documents Required

Documents you need to submit for 20000 personal loan from Axis Bank include identity proofs like PAN card, passport, Aadhaar card, and voter’s ID. For proof of residence, documents like an electricity bill, telephone bill, or rental agreement are necessary. Income proof entails providing salary slips for the last two months, employment proof for the past year, and bank statements spanning the last six months.

Please note: You need one of your recent passport-size photographs in order to completely submit the 15000 personal loan document to Axis Bank. All the documents that you submit should be self-attested.

20000 Axis Bank Personal Loan – Eligibility Criteria

Criteria is for Indian citizens aged between 21 and 60 seeking financial services or products. Individuals should have a stable monthly income of at least INR 15,000, earned through either salaried employment or self-employment, to be eligible. Additionally, a CIBIL score of 700 or higher is required for consideration.