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Axis Bank Personal Loan of 50000
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The Axis Bank personal loan ₹50,000 can be used for personal or professional needs, such as medical bills, education fees, travel expenses, home improvement, etc. As it falls under the collateral-free credit option, you can secure the necessary amount without having to pledge any of your assets as collateral. The bank also ensures that, once you submit the loan application, the fund will hit your applicable bank account within a day or two. Moreover, the competitive interest rate, flexible repayment terms, moderate eligibility criteria, minimal documentation, and the convenience of an online application process make it a more handy yet remarkable personal loan. To know more, let’s scroll down.
₹50,000 Personal Loan Axis Bank – Highlights
Below are the current ₹50,000 loan interest rate and other key parameters with Axis Bank:
Interest Rates | 10.49% p.a. onwards |
Processing Fees | Up to 2% of the loan amount |
Loan Tenure | 1 to 5 years |
Eligibility | Both salaried and self-employed individuals |
₹50,000 Personal Loan EMI for 5 Years
Below is the Axis Bank ₹50,000 personal loan EMI with an interest rate of 10.49% p.a.:
Loan Tenure | EMI Amount | Interest Payable | Total Amount Payable |
1 year | ₹ 4,407 | ₹2,884 | ₹52,884 |
2 years | ₹ 2,319 | ₹5,656 | ₹55,656 |
3 years | ₹ 1,625 | ₹8,500 | ₹58,500 |
4 years | ₹1,280 | ₹11,440 | ₹61,440 |
5 years | ₹ 1,074 | ₹14,440 | ₹64,440 |
Compare ₹50,000 Personal Loan From Other Banks & NBFCs
Let’s compare Axis Bank personal loan ₹50,000 with other banks and NBFCs across 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 |
₹50,000 Home Loan – Fees and Charges
Following are the fees and charges for an ₹50,000 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 |
₹50,000 Home Loan – Documents Required
₹50,000 personal loan documents in Axis Bank are as follows:
- Proof of Identity: PAN Card, Passport, Voter ID, or Driving License.
- Proof of Address: Utility Bills, Passport, Driving License, or Aadhaar Card.
- Proof of Income: Latest bank statement, salary slips, or income tax returns.
₹50,000 Home Loan – Eligibility Criteria
₹50,000 personal loan eligibility in Axis Bank are as follows:
- Age: The applicant must be aged between 21 and 60 years.
- Income: The applicant must have a minimum income of Rs.15,000 per month.
- Credit Score: The applicant must have a good credit score and repayment history.
- Nationality: The applicant must be an Indian citizen.
Frequently Asked Question (FAQs)
What is the Axis Bank monthly interest on ₹50,000 personal loan?
The monthly interest rate for a ₹50,000 personal loan from Axis Bank starts from 10.49% per annum.
Can I get ₹50,000 personal loan from Axis Bank?
Yes, you can obtain a ₹50,000 personal loan from Axis Bank by applying via the official website of Urban Money.
How to get ₹50,000 loan without a salary slip in Axis Bank?
Alternative documents such as your bank statement, income tax returns, or any other proof showing a stable income supporting the loan’s EMI may be required.
What is the CIBIL score for ₹50,000 personal loan for Axis Bank?
A CIBIL score of 700 or above is ideal for securing a ₹50,000 personal loan from Axis Bank.