Do I meet the Axis Bank Personal Loan Eligibility criteria?

Axis Bank Personal Loan is the bridge to all your dreams. From the long due abroad vacation with the missus to sending your kid to the best B-schools to throwing the best wedding celebration-Axis Bank personal loan is the best fit. Its captivating interest rates is definitely one of the best in the market. It offers and interest rate between 16-24%, which is negotiable based on a CIBIL score above 750 and above. Based on your aspirations, you can avail a loan amount between INR 50,000  to INR 15,00,000. And guess what? The loans gets disbursed easily with minimal documentation procedure involved. You can apply for an Axis Bank Loan online and get instant approvals. That’s not it - if you decide to pay off your loan before tenure, no foreclosure charges will be charged.

Axis Bank Personal Loan Eligibility Criteria

After hearing out all the benefits, you might be tempted to get a loan in order to get a step closer to your dream. So, here we describe about the Axis bank personal loan eligibility criteria and the documents needed for verification purposes:

- Only salaried employees have the privilege of taking Axis Bank personal loan. This takes into account all the employees of public and private limited companies, salaried doctors and all Government sector employees.

- The salaried employee should be a minimum of 21 years of age and a maximum of 60 years of age at the time of maturity of the loan.

- The salaried individual’s monthly net income should be minimum INR 15000.

- A good CIBIL score is recommended. Since personal loans are unsecured loans, banks give away loans based on CIBIL score (that means you don’t have to submit any collateral against it). CIBIL score is a three digit number assigned by the Credit Information Bureau of India to individual which proves their credit track record. The score ranges from 300-900. Ideally, the bank grants you the loan without any hassle if you have a credit score of 750 and above. However, they also accept a core of 700, but you won’t be able to negotiate on the interest rate or loan amount.

- The person should be an Indian citizen.

What all documents are required to avail the Axis Bank Personal Loan?

To meet the eligibility criteria, you will have to submit the below mentioned documents:

- Application form duly signed
- Photograph
- Age Proof - Birth Certificate
- ID Proof - Passport/ PAN/ Aadhar Card/ Driver’s License
- Income Proof - Salary Slips
- Address Proof (Both Permanent and Present)
- Bank Statement
- Signature Verification Proof

Several other documents needs to be submitted post sanction or pre disbursement stage:

- Loan agreement duly signed

- Standing Instruction (SI) Request / ECS Form. Security Cheques required for SI and ECS.

After verifying all your documents, the bank gives you a green card and disburses the loan amount instantly. This can take from 24 hours to a few days, depending on the complications involved with the verification procedure. For all the ones who are very inquisitive about their loan  status, Axis Bank lets you check your status online. Checking your status just involves few steps, within no time you’ll have the status on your screen.