Axis Bank Personal Loan – Comprehensive Product USP Guide

Axis Bank offers one of the most competitive and flexible personal loan (PL) products in the market, designed to suit the diverse financial needs of salaried professionals. With enhanced funding options, wide eligibility, and attractive interest rates, the Axis Bank PL is a powerful offering for both existing and new-to-credit customers.

Here’s a detailed look at the key features and eligibility criteria:

Key USPs of Axis Bank Personal Loan

1. FOIR-Based Funding – Loan eligibility is determined based on Fixed Obligation to Income Ratio (FOIR), providing greater flexibility for higher loan amounts.
2. Loan Amount up to ₹40 Lakhs
3. Flexible Tenure up to 84 Months
4. Attractive Rate of Interest Starting from 11.15%
5. FOIR Permitted Up to 80%
6. Last 6 EMIs of Existing PL Treated as Non-Obligatory
7. Funding up to ₹15 Lakhs for Customers with CIBIL Score of 0/-1
8. Home Loan EMI Considered at 0% or 50% Obligation if Jointly Repaid by Spouse with Income Proof
9. Credit Card & Personal Loan Balance Transfers Allowed Up to ₹40 Lakhs
10. Loan Amount Up to ₹40 Lakhs for Defence Personnel
11. Loan Up to ₹15 Lakhs for Employees of Unlisted Companies
12. Additional Income Considered for FOIR Calculations
    – Bonus, Incentives, Pension, Rental Income, FD Interest, Dividends
13. Funding up to ₹40 Lakhs for LIC Agents and Doctors under the PL Consultant Program

Salary Norms

• For Listed Companies: Minimum Net Monthly Income (NMI) of ₹25,000
• For Category D / Unlisted Companies: Minimum NMI of ₹40,000

Age Criteria

• Minimum Age: 21 years
• Maximum Age: 60 years

Loan Eligibility Criteria

1. Applicable for customers under Super Cat A / A / B / C categories
2. CIBIL Score of 740 or above
3. Minimum NMI of ₹35,000 / ₹50,000 / ₹75,000 (based on category and loan amount)
4. Minimum Loan Amount: ₹2 Lakhs

Credit Card Obligation

• Considered at 4% of the outstanding amount

Balance Transfer Segment

• Takeover of existing loans from all listed Banks, NBFCs, and Fintechs
• Maximum 5 loans can be taken over under BT
• Minimum Vintage of 6 EMIs for takeover loans
• OD Balance Transfer from Bajaj and Tata Capital accepted post 6 EMIs

New to CIBIL (0 / -1)

• Eligible for loan amounts up to ₹15 Lakhs

Required Documents

1. One Passport Size Photograph
2. PAN Card
3. Current Address Proof
4. Last 3 Months’ Salary Slips
5. Last 3 Months’ Bank Statements
6. For Balance Transfer cases:
   • Loan Statement of Account or Loan Schedule
   • 6 Months’ Repayment Bank Statement

Need More Information?

Please reach out to your Sales Manager or ASM for case-specific support, documentation requirements, and the latest underwriting guidelines.

Axis Bank Personal Loan – Simplifying Borrowing for Salaried Customers.