Information about Personal Loan from Axis Bank
The lifestyle of urban Indian is rapidly changing. The burgeoning Indian middle class is now the target customers of the major multinationals. With the increase in disposable income in the hands of young India, changes have been noticed in the expenditure pattern. What was the luxury in the nineties, in the 21st century that becomes the necessity. With the increase of sales of brown, white and grey goods, the consumers appliances sectors is also witnessing an unprecedented growth. Needs and dreams come as a part of every-body’s life. You want to buy a refrigerator and you have to save for months to get it. You want to go for a holiday vacation, but then you don’t have enough money to reach your dream destination. You might feel the need to utilise all your savings in buying a new house and now there is nothing left for furnishing it. But nowadays financial institutions can fulfil all your needs by providing loans. Personal Loans in India alleviate most of the hassles that come with conventional loans – delay in sanctioning and disbursement, lots of paper work, necessity of a guarantor and hypothecation of the asset financed.
A personal loan is an all-purpose loan for one’s own personal use. In fact this kind of loans can be used for any legitimate purposes whatsoever. This type of loan is unique retail loan product offered by a number of banks. In India the personal loans can be of two forms – secured and unsecured. Both secured and unsecured loans are provided by banks to its esteemed customers. The main purpose of such a loan is to meet any kind of need or expenses.
- Personal Loan from Axis Bank
Personal Power from Axis Bank
Axis Bank’s personal Loans. Go on your dream holiday, buy the latest lifestyle gizmo, gift your wife a lovely diamond ring, renovate your house or just squash a temporary cash crunch. Let us give you a helping hand. Our personal loans will meet all your personal requirements.
* Loans for salaried and self employed individuals
* Special loans for doctors, chartered accountants, engineers, architects, CS and ICWA
* Loans are available from Rs 1 lac to Rs 20 lacs
* Repayment tenures from 12 to 60 months
* Attractive interest rates
* Loans can be used for any purpose with no questions asked regarding the end use of the loan
* A balance transfer facility available for those who want to retire any higher cost debt
* Loans available against repayment track record of any existing auto, personal or home loan
* Loans available against proof of life insurance policy or premium receipts
* Zero balance SB account facility for personal loan customers
* Simple procedure, minimal documentation and quick approval
Eligibility
Salaried Employees Salaried doctors, CAs, employees of select MNCs, public and private limited companies, government sector employees including public sector undertakings and central and local bodies:
* Minimum age of applicant: 21 years
* Maximum age of applicant at loan maturity: 60 years
* Minimum employment: 2 years cumulative experience or 6 months for salaried professional
* Minimum net monthly income: Rs 7,000 per month
* Maximum loan available: Rs 10 lacs
* Special offer for salaried professional applicant
Self-employed Doctors Self-employed doctors include self-employed MBBS or BDS and doctors with higher qualification.
* Minimum age of applicant: 24 years to 65 years at the time of loan maturity
* Experience (doctors): 2 years continuous employment
* Minimum annual income: Rs 2.40 lacs per annum gross receipts (Rs 1.80 lacs per annum for select locations)
* Maximum loan available: Rs 20 lacs for self employed doctors
Self-employed Professionals Self-employed Professionals include self-employed chartered accountants, engineers, MBA consultants, architects, company secretaries, cost accountants.
* Age of applicant: from 24 years to 65 years at the time of loan maturity
* Minimum employment: 3 years continuous employment
* Minimum annual income: Rs 75,000 per annum (Rs 60,000 per annum for select locations)
* Maximum loan available: Rs 15 lacs for self-employed professional
Self-employed Normal Self-employed Normal include self-employed sole proprietors, partners and directors in the business of manufacturing, trading or services.
* Age of applicant: from 24 years to 65 years at the time of loan maturity
* Minimum employment: 3 yrs continuous employment
* Minimum annual income: Rs 1,00,000 per annum
* Maximum loan available Rs 10 lacs for self employed applicant
Documents for Salaried Individuals
Identity proof Passport or voter’s card or driving licence or PAN card and photograph
Income proof Latest salary slip showing all deductions or Form 16 along with current dated salary certificate (for salaried) or ITR (last 2 years) and computation of income (last 2 years) certified by a CA, balance sheet, profit and loss statement (for self-employed)
Residence proof Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements
Proof of telephone Latest bill of landline or mobile or WLL stating name of borrower or address of borrower employment proof or business continuity proof
Employment proof or Business continuity proof
* Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers
Sources : http://www.axisbank.com/