Year | Principal | Interest | Balance |
---|
The following table shows the EMI payable for various loan amounts and tenures:
Loan Amount |
1-Year tenure |
3-Year tenure |
5-Year tenure |
₹1 Lakh |
₹8,838 |
₹3,274 |
₹2,174 |
₹5 Lakhs |
₹44,191 |
₹16,369 |
₹10,871 |
₹10 Lakhs |
₹88,382 |
₹32,739 |
₹21,742 |
Your EMI or equated monthly instalment is due on a fixed date every month for the entire tenure of the loan. It can be repaid using any one of the following methods
Using this facility, repayments can be made automatically as the EMI gets auto-debited from the linked bank account.
Using ECS, you can make EMI payments in the same way you make payments for other utilities.
Post-dated cheques are made out for a future date and can be used to make EMI payments. The cheque cannot be deposited or cashed prior to the date that is written and signed for on the cheque.
A standing instruction or a debit mandate for fixed expenses can be given to your bank to be executed at fixed intervals.
The charges applicable on Axis Bank Personal Loan EMI in case of prepayment of the loan are as under (charges exclusive of GST):
5% for 0 to 12 months
4% for 13 to 24 months
3% for 25 to 36 months
2% for more than 36 months
Calculating the personal loan EMI will help you plan your personal finances better, pay your EMIs on time, and preserve your creditworthiness.
The prepayment charges applicable on Axis Bank Personal Loans (exclusive of GST) are as under:
5% for 0 to 12 months
4% for 13 to 24 months
3% for 25 to 36 months
2% for more than 36 months
Yes, a processing fee of up to 2% of the loan amount is applicable on Axis Bank personal loans.
A credit score of 700 and above is required to become eligible for a personal loan from Axis Bank.
You can pay your Axis Bank Loan EMI by NACH/ECS, post-dated cheque, or by giving standing instructions to your banking partner.