# How Axis Personal Loan Interest Rate is Levied to Your Loan?

Axis Bank provides personal loans to customers so that they can meet their financial needs. And the bank applies an interest rate to the borrowed amount. Axis personal loan interest rate is starting from 12.00% per annum. The rate of interest is dependent on the user income and credit capacity. Read the given article to know how the interest is applied to the loan amount.Â

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Which factors affect the Axis personal loan interest rate?

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Income of the applicant: Your income plays an important role in deciding the interest on your loan amount. Because if your income meets the loan criteria but the liabilities are high then a high interest would be applied. Minimum income required for the Axis Bank personal loan is INR 15,000. If your income is free of liabilities then you can get a lower Axis personal loan interest rate.Â

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Credit History: Borrowed a loan before and doesnâ€™t pay the loan timely then your credit history will be poor. And a bad credit record can directly affect your Axis personal loan. So check your credit report before applying for the Axis Bank personal loan. Because a bad repayment history can provide you a high interest.

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Age of the applicant: If your age is 55 years then you might get a high interest. Because the bank considers the minimum age of 21 years for the personal loan and provides interest in accordance with that. So age can be one of the factors that can affect your Axis personal loan interest rate.Â

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Use Axis personal loan interest rate calculator

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You can manage the interest rate and principal amount payment with the help of Axis Bank EMI calculator. The bank provides this tool to the customer using which they can know the equated monthly installment. An amortization table is also shown to your screens when the total payable interest and EMI is calculated. Using the table you can find the EMI amount and paid interest during the loan tenure.Â

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Just insert the loan amount, interest and loan tenure to generate the total Axis personal loan interest rate and EMI. For example, if you have borrowed a loan of INR 5 lakh at an interest of 15.00% per annum for 60 months. Then the approximate EMI would be INR 11,895 and interest is INR 2,13,698.Â

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Get the Axis personal loan without collateral

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To borrow a desired loan amount you donâ€™t require to give your asset to the bank against. You can apply for the loan by going to the Axis Bank or through the online banking services. Just go to the bank official website and click the â€śApply Nowâ€ť button. Fill up the application form and submit the documents like KYC proof and income documents to the bank. After you complete the loan process the amount will be credited to your account. And can pay EMI through ECS, PDCs or auto-debit. You can reduce Axis personal loan interest with prepayment of the loan without paying any extra fees. Now apply for a personal loan from Axis Bank today and enjoy its benefits of zero foreclosure and prepayment.