Axis Bank Personal Loan of 7 lakh

Looking for a personal loan online? Axis Bank personal loan of 7 lakh offers one of the most attractive choices with low-interest rates starting from 10.49% p.a. The flexible tenure ranging from 12 to 84 months, empowers its customers to make versatile financial decisions for diverse needs. Thus, borrowers can enjoy the benefits of tailoring their repayment schedule to navigate their financial journey with trust and ease. Learn about the features and benefits of an instant 7 lakh loan from Axis Bank and when the best time to apply for it is below. 

Axis Bank Personal Loan 7 Lakh – Highlights

Let’s just throw some light on the highlights of Axis Bank’s personal loan of 7 lakh:

Feature	Details
Loan Amount	Up to Rs. 40 lakhs
7 Lakh Loan Interest Rate	Starting from 10.49% p.a.
Tenure	12 to 84 months
Processing Fee	Up to 2% of the loan amount
Prepayment Charges	Nil for loans up to 36 months; 2% for loans above 36 months

 

Axis Bank 7 Lakh Personal Loan EMI for 1- 7 Years

By taking a look at the example below you can understand the distribution of 7 lakh personal loan EMI by Axis Bank:

Tenure	EMI	Interest Rate	Interest Amount
1 Year	Rs. 61,701	10.49%	40,409
2 Years	Rs. 32,460	10.49%	79,040
3 Years	Rs. 22,748	10.49%	1,18,943
4 Years	Rs. 17,919	10.49%	1,60,111
5 Years	Rs. 15,042	10.49%	2,02,536
6 Years	Rs. 13,142	10.49%	2,46,204
7 Years	Rs. 11,799	10.49%	2,91,101

Compare 7 Lakh Personal Loan from other Banks & NBFC.

The applicants need to evaluate and compare the interest rates of different banks and NBFCs before applying for a 7 lakh personal loan instantly. The table below shows a comparison of Axis Bank’s personal loan of 7 lakh and other providers’ loan interest rates for better evaluation:

Bank/NBFC	Interest Rate
HDFC Bank	10.50%
ICICI Bank	10.50%
Bajaj Finserv	11.00%
Tata Capital	11.25%
Kotak Mahindra Bank	10.99%
L&T Finance	12.00%
Kreditbee	12.25%
MoneyTap	12.96%

Axis Bank Personal Loan 7 Lakh – Fees & Charges

You can check the additional fees charged by Axis Bank personal loan of 7 lakh from the following table:

Fee	Amount
Processing Fee	Up to 2% of the loan amount
Swap charges	INR 500 per instance + GST
Documentation Fee	Rs. 500
Foreclosure Charges	Nil for loans up to 36 months; 2% for loans above 36 months
Prepayment Charges	5% + GST
Instrument return Fee	INR 339 per instance + GST
Penal interest	24% per annum
Duplicate Issuance Charges	INR 250 per instance + GST

7 Lakh Axis Bank Personal Loan – Documents Required

The points below show the significant 7 lakh personal loan documents required by Axis Bank to qualify for the process:

• Identity Proof – You need to submit proof of identity through passport, Voter ID, or Aadhaar Card 
• Address Proof– Submit the details of address verification through Rent Agreement or Utility Bills (For the past 3 months only)
• Income Proof– Salary slips of the last 2 months, Form 16 for salaried individuals; and Business income proof for self-employed individuals of the past 1 year.
• Bank Statements– The latest six months’ financial statements
• Others– Loan application form and signed agreement/ECS forms

Please note that the above documents list may vary, and further documents can be asked based on the type of loan and property you are applying for. 

7 Lakh Axis Bank Personal Loan – Eligibility Criteria

Know about the 7 lakh personal loan eligibility criteria by Axis Bank by checking the points below:

• Age – The applicant must be between 21 and 60 years old to qualify for the instant 7 lakh loan from Axis Bank. 
• Income – The minimum monthly income of the applicant to apply for a 7 Lakh Axis Bank Personal loan should be Rs. 15000.  
• Nationality – He/She must be an Indian resident. 
• Employment Status – He/She must have a 3 years working experience.