You can pay financial debts using a personal loan from Axis Bank as it’s interest rate is lowest. Because, when your financial debts are high it is not easier to pay them using your income. That is why you can take Axis Bank personal loan and pay the borrowed amount in equated monthly loan installments. To find more about the Axis personal loan features and their benefits read the given article.
Lowest interest rate on Axis Bank Personal Loan
The fixed interest rate which is applied to your loan amount is dependent on the 1 year MCLR and spread over the year. Axis Bank base rate is 8.15% and the current year spread is 3.85% to 15.85%. Effective rate of interest for Axis Bank personal loan range from 12% to 24%. You can compute the applied interest rate on your loan amount through Axis Bank EMI calculator.
Loan rate of interest can be high or low depending on your CIBIL score, income, and other criteria. So, if you have a minimum income of INR 15,000 per month then you can apply for a loan by submitting the income proof and other details to the bank.
What is an EMI calculator?
Axis Bank provides an online tool to the customers for the effortless loan process. Using the EMI calculator one can calculate equated monthly loan installments, payable interest rate and loan amount. You can use the calculator for estimating the loan EMIs, payable interest rate and loan amount. As the calculator works in the formula [P x R x (1+R)^N]/[(1+R)^N-1], where P is the loan amount, N is loan tenure and R is rate of interest.
For instance, if you borrow a loan amount of INR 15 lakh at an interest rate of 12.55% then the generated EMI would be INR 33,785. So, borrow the desired loan amount and make easy loan payments using Axis Bank Personal loan calculator. So, use the calculator and apply for the loan by paying a low processing charge that is maximum 2% of your loan amount.
Apply for Axis Bank personal loan through online banking
To get the loan from Axis Bank just visit the official website and mobile banking app and log in to your account. You can choose “personal loan” from the product category and apply for the loan by submitting a few documents to the bank such as income proof and ID proof. The loan amount can be used for purposes like marriage, medical and education expenses. Axis Bank charges a low rate of interest and fees from the user. You can pay the loan amount and charged interest rate through ECS or auto-debit method. Now, borrow a personal loan from Axis Bank and relax because the interest rate is low and the loan you can borrow is maximum up to 15 lakh. The repayment duration is 5 years so what more you need. Axis bank personal loan is a perfect solution for all your problems.