What is Processing Fee for Axis Bank Personal Loan?

The processing fee for Axis Bank personal loan is 2% of the loan amount plus applicable GST. I remember the first time we took out a loan for our daughter’s marriage, and I didn’t know about the fee structure and charges. I only knew about the interest rates and the application procedure. We got to know about it from the bank manager. If you’re also confused about the personal loan charges, you can read this answer.

What is the Axis Bank Personal Loan Processing Fee?

The thing about personal loans is that you don’t require any collateral for it as it’s an unsecured loan. Anyway, apart from the processing fee, there are many charges you must know while availing the loan.

1. Repayment instruction/instrument return charges: Rs. 339 per instance of dishonour of cheque/SI/ECS/NACH debit instruction + applicable GST

2. Swap charges: Rs. 500 per instance + GST

3. Penal charges: 8% p.a. above the interest rate on the overdue amount.

4. No dues certificate generation charges: Rs. 50 per instance per set + GST

5. Part-payment/foreclosure charges: This varies as per the bank’s discretion from time to time.

6. Duplicate statement issuance charges: Rs. 250 per instance per set + GST

7. Credit Information Companies (CICs) Report Issuance charges: Rs. 250 per instance per set + GST

So, that’s all about the Axis Bank processing fee for personal loan and other charges. 

Also, the interest rate on personal loans starts from 11.25% p.a. which will further depend on the loan amount, tenure, and other factors like your repayment history and credit score. I hope this gives you an overview of how things will work. 

Get Personal Loans Instantly Without Hefty Paperwork Via NB Instacash!

Read more

What is Axis Bank Personal Loan Disbursal Time?

Hello there. A friend of mine works at Axis Bank. I was looking to avail a personal loan for my wedding. Hence, I chose Axis Bank for this purpose. During this time, my friend told me about the Axis Bank personal loan processing fee. I had never taken a loan and was thus confused after hearing this term for the first time. He then explained the meaning of the processing fee and its purpose. I went on to ask him about the Axis Bank processing fee personal loan. 

Let me share all the details regarding the same with you. I am sure that this will help you gain knowledge about the subject. Read along to find out.

What is the Processing Fees for Personal Loan Axis Bank?

The Axis Bank’s administration cost regarding the processing of your loan application is charged as a processing fee. This amount can vary anywhere between 0.5% and 2.50% of the total loan amount. The processing fee for a personal loan through Axis Bank is up to 2% of the loan amount, plus GST. You must note that it is non-refundable. 

How to Avail a Personal Loan Through Axis Bank

1. Visit the 24x7 personal loan

   page

   on the Axis Bank website.

2. Log in using your mobile number and DOB or PAN.

3. You will be asked about several details, including some necessary documents.

4. Fill in the details and submit documents, such as your income proof, ID proof, etc.

5. Follow the next steps to finalise your application.

With this, I would like to conclude my answer. Hopefully, this will help you learn, what is processing fee for Axis Bank personal loan. Have a nice day.