Axis Bank Credit Card Loan

✓ Fast Processing ✓ Great Discounts & Offers ✓ Easy EMI Facility | Apply for Credit Card from Axis Bank now!

Loan on Axis Bank Credit Card

A loan on Axis bank credit card allows you to meet immediate financial needs during emergencies. The instant funding option is usually offered against the unutilised credit limit on the card. A loan on an Axis credit card can be availed against minimal documentation with a flexible repayment tenor. As a result, it acts as a dependable financial option and offers you the ease of documentation with a flexible repayment tenor. As a result, it acts as a dependable financial option and offers you the ease of acquiring funds when you need it most without any hassle.

How to Apply for a Loan With Axis Bank Credit Card

If you are looking to secure a loan on Axis bank credit card, you can do so by:

  • Axis Bank Credit Card Loan Via Missed Call: By giving a missed call on 1800 419 0230, as soon as you disconnect, the customer service team of Axis bank will contact you. They will proceed by assisting you with the loan application and verification process.

  • Axis Bank Credit Card Loan Via Customer Care: You can contact the Axis bank credit card customer care at 1860 500 5555 or 1860 419 5555. Once you do so, you will be guided by the Interactive Voice Response (IVR) system, to complete your application process.

  • Axis Bank Credit Card Loan Via Internet Banking: You can also avail of a loan on your credit card via internet banking. To do so, you must (a) login to your internet banking account using your credentials (b) click on ‘Accounts & My Credit Cards’ (c) choose ‘Instant Loan’ and proceed to submit your application.

Features and Benefits of Axis Credit Card Loan

The features of Axis bank credit card loan are as elucidated below:

  • Minimal documentation required

  • Faster processing time

  • Loan processing fee of 1.5% of the loan amount or ₹ 500, whichever is greater

  • The loan amount is credited directly to your savings account

  • Moderate interest rates applicable

  • Flexible tenures offered of 12, 24, 36 or 48 months

Axis Bank Credit Card Loan Eligibility Criteria

To be eligible for a Axis bank credit card loan, you must:

  • Hold an Axis Bank credit card

  • Have a good credit history

  • Should have the minimum prescribed balance in your savings account

Modes of Axis Credit Card Loan Disbursal

When your loan against Axis bank credit card gets approved, it shall be disbursed in any one of the following manners:

  • A direct transfer to your savings account

  • Through other modes of payment, as communicated by the bank

Axis Bank Credit Card Loan Repayment Process

If you avail of a loan against Axis bank credit card, you can pay back the same in the form of EMIs. The bank will add the loan amount to your credit card statements, including the interest rate for every month. These charges are clearly communicated by the bank when you avail of the loan and remain the same throughout the tenure of repayment. Here, one must note that you cannot carry over the EMI past the due date, into the next payment cycle.

Charges on Axis Bank Credit Card Loan

If you avail of an Axis bank credit card loan, the charges you will incur are:

  • Processing Fee: 1.5% of the loan amount or ₹ 500, whichever is greater.

  • Foreclosure Charges: 3% of the outstanding principal amount, or ₹ 300, whichever is greater.

How to Calculate Axis Credit Card Instant Loan EMI

If you have availed of an Axis bank credit card loan, of ₹ 25,000 for a period of 12 months, the interest rate applicable will be 11.40%. Listed below is the interest and other charges that will be applicable on your loan:

Total Interest

₹ 1,571

Processing Fee

₹ 500

ST on Interest

₹ 283

ST on PF

₹ 90

Extra Payable

₹ 2,443

Loan Amount

₹ 25,000

Total Payable

₹ 27, 443

The Amortisation Table for your loan is as elucidated below:

Months

Principal

Interest

EMI

Service Tax

Final EMI

1

₹ 1,976.71

₹ 237.50

₹ 2,214.21

₹ 42.75

₹ 2,256.96

2

₹ 1,995.49

₹ 218.72

₹ 2,214.21

₹ 39.37

₹ 2,253.58

3

₹ 2,014.44

₹ 199.76

₹ 2,214.20

₹ 35.96

₹ 2,250.16

4

₹ 2,033.58

₹ 180.63

₹ 2,214.21

₹ 32.51

₹ 2,246.72

5

₹ 2,052.90

₹ 161.31

₹ 2,214.21

₹ 29.04

₹ 2,243.25

6

₹ 2,072.40

₹ 141.81

₹ 2,214.21

₹ 25.52

₹ 2,239.73

7

₹ 2,092.09

₹ 122.12

₹ 2,214.21

₹ 21.98

₹ 2,236.19

8

₹ 2,111.97

₹ 102.24

₹ 2,214.21

₹ 18.40

₹ 2,232.61

9

₹ 2,132.03

₹ 82.18

₹ 2,214.21

₹ 14.79

₹ 2,229.00

10

₹ 2,152.28

₹ 61.92

₹ 2,214.20

₹ 11.15

₹2,225.35

11

₹ 2,172.73

₹ 41.48

₹ 2,214.21

₹ 7.47

₹ 2,221.68

12

₹ 2,193.37

₹ 20.84

₹ 2,214.21

₹ 3.75

₹ 2,217.96

FAQs on Axis Bank Credit Card Loans

  • ✔️What is an instant loan on Axis Bank credit card?

    By making use of the Axis Bank credit card instant loan, you can meet your immediate financial needs. This can be availed with minimal documentation, and at a flexible tenure.

  • ✔️Is a loan on Axis Bank credit card good?

    Yes, this is a secure and dependable option, allowing you access to funds when needed, in a hassle-free manner. You can apply for a range of credit cards at Finserv MARKETS, and choose the best one for you, loaded with a range of features.

  • ✔️Which Axis Bank credit card is the best for a loan?

    While all Axis Bank credit cards help you avail of a loan, do note that the rate of interest and loan amount varies from card to card. If you happen to be a student, you can also avail of exciting offers on student credit cards.

  • ✔️What is the processing fee for the loan against a credit card?

    The processing fee for the loan against your Axis Bank credit card is 1.5% of the loan amount or ₹ 500, whichever is greater.

  • ✔️How to know if I am eligible for the loan against the credit card facility?

    To be eligible for a loan against your Axis Bank credit card, you must have a good credit history and have the minimum required amount in your savings account.