Personal Loan for 40000 Salary
If you are an employee earning a fixed monthly salary of approximately Rs 40,000, you can easily avail of a
Personal Loan from Axis Bank in just a few simple steps. Now, you don't have to worry about not having enough funds. Axis Bank ensures you get the financial support you need smoothly and
efficiently.
Features and benefits of Personal Loan for Rs 40,000 salary
Quick approvals:
Your loan application gets approval in only a few minutes if you meet all the eligibility criteria. This process is designed to meet your urgent financial needs efficiently.
Easy documentation:
With minimal paperwork required, applying for your personal loan is hassle-free. You only need a few essential documents like proof of age, address and income. Most of these details can be verified online with Axis
Bank, even without any upload of documents.
Funds in 24 Hours:
Once approved, the loan amount can be disbursed to your account in as little as 24 hours, providing you with immediate access to funds when you need them the most.
Versatile tenor:
Choose a repayment period that suits your financial situation, with flexible options that allow you to manage your loan repayments comfortably over time. Axis Bank lets you choose the tenure between 12 to 84 months.
Pre-approved offers:
You can access exclusive pre-approved loan offers tailored to your profile if you are an existing customer of Axis Bank. This enables you to access loans quickly without any additional screenings.
No collateral required:
You can also secure your loan without the need to pledge any collateral. This unsecured loan option gives you the financial support you need without tying up your assets.
No hidden fees:
You are assured there are no hidden charges. All fees are mentioned upfront, so you know exactly what you're paying for.
Simplified loan management:
You can manage your loan effortlessly through Axis Bank's digital platforms. They allow you to track your loan balance, make payments, and access your loan details anytime, anywhere.
Eligibility criteria for personal loan with a salary of Rs 40,000
- Applicants must be at least 21 years old.
- Applicants should not exceed 60 years at the time of loan maturity.
- Minimum net monthly income: Rs 15,000 for existing Axis Bank customers and Rs 25,000 for non-Axis Bank customers.
- Salaried employees are eligible to apply for the personal loan.
- A CIBIL score of 700+ is preferred for loan eligibility on a Rs 40,000 salary.
You can check the loan amount you are eligible for using this Personal Loan Eligibility
Calculator.
Documents required for Personal Loan for Rs 40,000 salary
You can verify income online during the digital application process. However, here is a list of documents to be kept ready to avail of a personal loan online with a salary of Rs 40,000:
- Last six months' bank statements.
- Recent three months’ payslips and the latest Form 16.
- One KYC document: Passport, Driving Licence, PAN Card, Aadhaar card or Voters ID.
Note: This is an indicative list, and the bank may ask for additional documents on
a case-to-case basis
How to apply for a personal loan with a salary less than Rs 40,000?
You can easily apply for a personal loan if your salary is below Rs 40,000 since the minimum requirement to avail of a personal loan is Rs 15,000 per month for Axis Bank customers and Rs 25,000 for non-Axis Bank customers. Here is
how you can apply for the same.
- Last six months' bank statements.
- To start your loan application, click on this link.
- Enter your mobile number, PAN card, Aadhar details.
- Verify income online or upload six-month bank statements and salary slips.
- Complete Video KYC.
- Provide basic employment details.
- Choose personal loan amount and tenure. You will be able to see the details of your personal loan EMI. Now, click on "avail now".
- Congratulations! Your loan application has been accepted, and the money will be transferred to your account within a few hours.
For offline application, you can visit the nearest Axis Bank branch and contact a bank representative. They will assist you in availing a personal loan based on your specific requirements.
