Axis Bank Personal Loan of 8 lakh

Introducing Axis Bank personal loan of 8 lakh on Urban Money, to help you fulfill all your goals in time without any hassles. It is one of the top banking option to facilitate personal loans for its customers by offering highly competitive loaning options. Axis bank interest rates for personal borrowing starts from 10.49% per annum with tenures of up to 84 months. The choice of granting access to amounts as high as Rs. 40 lakhs along with flexible repayment cycles has successfully gained the attention of various borrowers. Continue reading to know more details about the instant 8 lakh loan by Axis Bank. 

Axis Bank Personal Loan 8 Lakh – Highlights

Following are the insights on the highlights of Axis Bank personal loan of 8 lakh:

Feature	Details
Loan Amount	Up to Rs. 40 lakhs
8 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 8 Lakh Personal Loan EMI for 1- 7 Year

The table below shows the basic snapshot of 8 lakh personal loan EMI for 7 years:

Tenure	EMI	Interest Rate	Interest Amount
1 Year	Rs. 52,886	10.49%	34,636
2 Years	Rs. 27,823	10.49%	67,748
3 Years	Rs. 19,499	10.49%	1,37,238
4 Years	Rs. 15,359	10.49%	1,14,369
5 Years	Rs. 12,893	10.49%	1,73,602
6 Years	Rs. 11,264	10.49%	2,11,032
7 Years	Rs. 10,113	10.49%	2,49,515

Compare 8 Lakh Personal Loan from other Banks & NBFC.

Doing a comparison of different banks is crucial before applying for 8 lakh loan interest rate. Following is the list of interest rates offered by various banks and NBFCs you should look at:

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

Axis Bank Personal Loan 8 Lakh – Fees & Charges

Following is the basic snapshot of additional charges by Axis Bank personal loan 8 lakh.

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

8 Lakh Axis Bank Personal Loan – Documents Required

Here is the list of 8 lakh personal loan documents imposed by Axis Bank:

• Identity Proof – A copy of passport/Voter ID/Aadhaar Card as proof of identity
• Address Proof– A copy of the Rent Agreement/Utility Bills (For the past 3 months only)
• Income Proof– Pay slips of the latest 2 months/Form 16 for salaried individuals; Business income proof for self-employed individuals of the past 1 year.
• Bank Statements– The latest six months’ financial statements
• Others– Completely filled form of loan application 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. 

8 Lakh Axis Bank Personal Loan – Eligibility Criteria

Check the 8 lakh personal loan eligibility criteria by Axis Bank below:

• Age – The applicant must be between 21 and 60 years old to qualify for the instant 8 lakh loan from Axis Bank. 
• Income – The minimum monthly income of the applicant to apply for a 8 Lakh Axis Bank Personal loan should be Rs. 15000.  
• Nationality – He/She must be an Indian resident. 
• Employment Status – He/She must have an employment expertise of at least 3 Years.