What is Axis Bank Personal Loan Top Up Interest Rate?

The Axis bank personal loan top up interest rates are in the range of 9.99% p.a. to 22% p.a. 

1. The minimum rate is 9.99% p.a., and the maximum rate goes up to 22% p.a. for top-up loans. These rates are the same as their standard personal loan rate band, indicating that top-up is treated like a regular unsecured personal loan.

2. The loan amount you can top-up ranges from Rs. 50,000 up to Rs. 40 lakh, as per their top-up loan page.

3. The top-up loan can be repaid over a long term (up to 84 months / 1284 months shown in their calculator though that might be a typo or system limit; check with the bank for exact tenure options).

4. You can prepay, but there is a fee 5% + GST if you foreclose, according to Axis Bank’s top-up loan charges. For overdue EMIs, Axis Bank charges 24% p.a. on the overdue amount.

5. The wide interest rate band (9.99% to 22%) reflects Axis Bank’s risk-based pricing: your exact rate depends on your credit history, existing loan repayment behavior, income, and how big or small your top-up is.

Since top-up loans are unsecured, Axis Bank needs to price them carefully to balance risk and reward.

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Hey there! I took a top-up loan over my home loan in 2021, and the Axis Bank personal loan top up interest rate usually starts from 11.25%. It’s relatively lesser than the personal loans. The processing fee, however, is up to 2.5%, but top-up loans are actually easier to get as compared to personal loans. But I also learned there are certain conditions you must have met to be eligible for such loans. 

What is the Axis Bank Top Up Personal Loan Interest Rate?

The interest rates can range from 11.25% p.a. To 22% p.a., which depends on the loan amount and credit history. It’s also important to note that if you’ve taken a home loan before, it’s easy to get a top-up loan, but you must have paid the EMIs at regular intervals with no dues. 

Here are some more eligibility requirements you must meet before applying for a top-up personal loan,

1. You have an outstanding personal loan with Axis Bank

2. You have a clean repayment history with no missed EMIs

3. You must have a strong credit score

Talking about documentation, it’s quite minimal as you already have a loan from the bank. Also, Axis Bank provides pre-approved top-up loans to its customers. 

Axis Bank Personal Loan Fees and Charges

I am also sharing the mandatory charges that you must keep in mind when applying for top-up loans. 

1. Penal interest: 24% p.a. That is 2% per month on the overdue installment.

2. Part payment/prepayment charges: 5% + GST as applicable. 

3. No-dues certificate generation charges: Rs. 50 per instance per set + GST as applicable

4. Credit information companies (CICs) report insurance charges: Rs. 50 per instance per set + GST as applicable

That’s all about the top-up personal loan. Hope it clarifies your concern. 

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