Personal Loan of Rs. 1 Lakh
When faced with a sudden need for funds, a
Personal Loan is the best option for you. It is easily available without any collateral. Whether it is an urgent or unexpected need or a planned expense, a Personal Loan from Axis Bank
allows you to meet your expenses easily, without any undue burden on your pocket.
Axis Bank provides a flexible short-term loan of Rs 1 lakh to address your urgent financial needs. Whether it's an urgent medical bill, renovating your home or managing existing debt, you can avail a Personal Loan of Rs 1 lakh easily
at Axis Bank.
1 lakh Personal Loan EMI for 1 Year
With the following details, let us calculate a 1 lakh loan EMI for 1 year.
| Loan Amount (₹)
| 1,00,000 |
| Interest Rate (p.a.)
| 10.99% - 22% |
*considering 11% interest in the below scenarios.
₹1 lakh Personal Loan EMI for 1 year and its break up is as follows:
| Equated Monthly Instalments (EMI in ₹) | 8,838 |
|---|
| Principal Amount (₹) | 1,00,000 |
| Interest Amount (₹) | 6,058 |
| Total Amount Payable (₹) | 1,06,058 |
1 Lakh Personal Loan EMI for 3 Years
If you opt for 3-year tenure, the 1 lakh loan EMI will be:
| Equated Monthly Instalments (EMI in ₹) | 3,274 |
|---|
| Principal Amount (₹) | 1,00,000 |
| Interest Amount (₹) | 17,859 |
| Total Amount Payable (₹) | 1,17,859 |
1 Lakh Personal Loan EMI for 5 Years
1 lakh Personal Loan EMI for 5 years will be:
| Equated Monthly Instalments (EMI in ₹) | 2,174 |
|---|
| Principal Amount (₹) | 1,00,000 |
| Interest Amount (₹) | 30,455 |
| Total Amount Payable (₹) | 1,30,455 |
How to apply for 1 Lakh Personal Loan online at Axis Bank?
- To start your Rs 100,000 loan application, click on this
link.
- Enter your mobile number, PAN card and Date of Birth.
- Verify your mobile with the OTP.
- Upload six-month bank statements and salary slips or verify income online.
- Complete eKYC and Video KYC.
- Authenticate Aadhaar with OTP.
- Provide employment and education details.
- Choose loan amount and tenure. Confirm details and click "avail now".
- If approved, your funds will be disbursed within a few hours.
Eligibility Criteria to get Personal Loan of Rs 1 Lakh
For a Rs 1 lakh Personal Loan from Axis Bank, the eligibility criteria are as follows:
- The applicant should be between 21 and 60 years.
- A minimum monthly income of Rs 15,000 for existing Axis Bank customers and Rs 25,000 for new customers is mandatory.
- This loan option is exclusively available to individuals who are salaried employees
- A CIBIL score between 720 and 750 is preferred.
Documents Required for Rs 1 Lakh Personal Loan
- Bank statements from the last three months.
- The three most recent pay slips alongside the latest Form 16.
- One of the following KYC documents is needed:
- Passport
- Driving Licence
- PAN Card
Additional Documents for Salaried Individuals
- Proof of employment: This could be an offer letter from your job, an employee ID, or a salary slip.
Rs 1 Lakh Personal Loan Fees & Charges
Fees and Charges to avail a loan for Rs 1,00,000
| Type of Charges
| Charges |
|---|
| Repayment instruction / Instrument return charges | Rs 339/- per instance of dishonour of cheque /SI/ECS/NACH debit instruction + GST as applicable
|
| Swap charges (Cheque/Instrument) | Rs 500/- per instance + GST as applicable |
| Penal Interest | @24% per annum i.e. 2% per month on the overdue instalment. |
| Duplicate statement issuance charges | Rs 250/- per instance per set + GST as applicable. |
| Duplicate Amortisation schedule issuance charges | Rs 250/- per instance per set + GST as applicable. |
| Credit Information Companies (CICs) Report Issuance Charges | Rs 50/- per instance per set + GST as applicable. |
| No Dues Certificate generation charges (Duplicate) | Rs50 per instance per set + GST as applicable. |
| Stamp Duty Charges | As per State Stamp Act |
| Part Payment / Pre-Payment Charges | 5% + GST (as applicable) For loans disbursed 4th October, 2023 onwards: Fee for more than 36 months, 2% fee is applicable otherwise 3% |
| Processing fee charges | up to 2% of the loan amount + GST as applicable |
