Axis Bank Personal Loan of 40000

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Hepson Franklin

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Axis Bank personal loan of ₹40,000 is an attractive credit option. Upon submitting your loan application, you can expect to receive the loan amount in as little as 48 hours. Being a collateral-free personal loan, you can secure the funds without having to pledge any of your assets as collateral or security. Whether you need cash for medical expenses, automotive repairs, travel costs, or other personal financial needs, the bank has options and resources to disburse the funds promptly. Axis Bank also offers competitive interest rates, flexible repayment options, moderate eligibility criteria, and minimal documentation, making it a borrower-friendly personal loan. Furthermore, the online application process allows you to apply and receive funds without the need to visit bank branches, adding more appeal to this instant ₹40,000 loan from Axis Bank. Let’s scroll down to learn more.

₹40,000 Personal Loan Axis Bank – Highlights

Following are the ₹40,000 loan interest rate and other key details with Axis Bank:

Interest Rates	10.49% p.a. onwards
Processing Fees	Up to 2% of the loan amount + taxes
Loan Tenure	1 to 5 years
Eligibility	Both salaried and self-employed individuals

₹40,000 Personal Loan EMI for 5 Years

Let’s examine the Axis Bank ₹40,000 personal loan EMI with an interest rate of 10.49% p.a.:

Loan Tenure	EMI Amount	Interest Payable	Total Amount Payable
1 year	₹ 3,526	₹2,312	₹42,312
2 years	₹ 1,855	₹4,520	₹44,520
3 years	₹ 1,300	₹6,800	₹46,800
4 years	₹1,024	₹9,152	₹49,152
5 years	₹ 860	₹11,600	₹51,600

Compare ₹40,000 Personal Loan From Other Banks & NBFCs

Following is the comparison of Axis Bank personal loan ₹40,000 with other banks and NBFCs in India.

Lender	Interest Rate (p.a.)	Processing Fee	Tenure
Axis Bank	10.49% onwards	Up to 2% of the loan amount	1 to 5 years
ICICI Bank	10.50% onwards	Up to 2.50% of the loan amount	1 to 6 years
HDFC Bank	10.50% onwards	Up to Rs 4999	1 to 5 years
Federal Bank	10.49% onwards	Up to 3% of the loan amount	1 to 5 years
IndusInd Bank	10.49% onwards	Up to 2.5% of the loan amount	1 to 5 years
IDFC First Bank	10.49% onwards	Up to 3.49% of the loan amount	1 to 5 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	1 to 5 years
Bajaj Finserv	11.00% onwards	Up to 3.93% of the loan amount	1 to 8 years
State Bank of India	11.05% onwards	1% of the loan amount	1 to 6 years
Punjab National Bank	11.75% onwards	1% of the loan amount	1 to 6 years

₹40,000 Home Loan – Fees and Charges

Let’s examine the fees and charges for an ₹40,000 personal loan instant:

Fee/Charge	Amount
Processing Fee	Up to 2% of the loan amount + taxes
Premature Closure Charges (For Full Payment)	Up to 5% of the outstanding loan amount + taxes
Delayed instalment payment charge	24% p.a., i.e. 2% per month on the overdue instalment
Repayment Mode Swap Charges	Rs 500/- Per Instance + taxes
Repayment instruction / Instrument return charges	Rs 339/- Per Instance of dishonour of cheque, SI, ECS, NACH debit instruction + GST
Amortisation Schedule Charges	Rs 250/- Per Instance + taxes
Stamp Duty & other statutory charges	As per applicable laws of the state

₹40,000 Home Loan – Documents Required

₹40,000 personal loan documents in Axis Bank are as follows:

Application form along with a recent passport-size photograph.
Proof of identity such as PAN Card, passport, voter ID, or driver’s license.
Proof of address such as utility bills, driver’s license, or aadhaar card.
Proof of income such as the latest bank statement, salary slips, or income tax returns.

₹40,000 Home Loan – Eligibility Criteria

₹40,000 personal loan eligibility in Axis Bank are as follows:

You must be aged between 21 and 60 years.
You must have a minimum income of Rs.15,000 per month.
You must have a good credit score and repayment history.
You must be an Indian citizen.

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Frequently Asked Question (FAQs)

What is the Axis Bank monthly interest on ₹40,000 personal loans?

The Axis Bank monthly interest on ₹40,000 personal loans starts at 10.49% p.a.

Can I get a ₹40,000 personal loan from Axis Bank?

You can secure a ₹40,000 personal loan from Axis Bank by applying via Urban Money’s official website.

How do you get ₹40,000 loan without a salary slip in Axis Bank?

You can submit alternative proof of income such as bank statements, income tax returns, etc.

What is the CIBIL score for ₹40,000 personal loan for Axis Bank?

You need a minimum CIBIL score of 700 or above to qualify for the ₹40,000 personal loan from Axis Bank.