Personal Loan · Bank review
Axis Bank Personal Loan
Axis Bank offers personal loans from ₹50,000 to ₹50 lakh with tenures up to seven years, among the longest of the banks we track. It publishes both a starting and a maximum rate, which helps you see the full range before you apply, and it lets borrowers prepay part of the loan each year without a charge. Below are Axis's published terms, a worked cost example and how its prepayment rules work.
By FinancePaisa Editorial Team · Research & editorialUpdated · 4 min read
Rates checked against the lenders' official pages on 28 September 2026. Your actual rate depends on your profile; confirm with the lender before you apply.
Official rate pages: Axis Bank
- Interest rate
- 9.99% – 22% p.a.
- Loan amount
- ₹50,000 to ₹50 lakh
- Tenure
- 12 to 84 months
- Processing fee
- 1.5% to 2% + GST
How it compares: a starting rate of 9.99% is 0.01 percentage points below the median of 10.00% across the 6 lenders we track for this product. Starting rates go to the strongest applicants; compare the rate you are actually quoted.
On this page (10 sections)
Key terms
| Term | Axis Bank |
|---|---|
| Interest rate | 9.99% – 22% p.a. |
| Loan amount | ₹50,000 to ₹50 lakh |
| Tenure | 12 to 84 months |
| Processing fee | 1.5% to 2% + GST |
| Part-prepayment | Up to 25% of the outstanding a year, free, after 12 EMIs (loans disbursed from 31 Dec 2024) |
| Foreclosure | 3% of the outstanding before 36 months; 2% after; plus GST |
| Penal charge on overdue | 8% a year above the loan rate on the overdue amount |
Interest rate
- Axis Bank
- 9.99% – 22% p.a.
Loan amount
- Axis Bank
- ₹50,000 to ₹50 lakh
Tenure
- Axis Bank
- 12 to 84 months
Processing fee
- Axis Bank
- 1.5% to 2% + GST
Part-prepayment
- Axis Bank
- Up to 25% of the outstanding a year, free, after 12 EMIs (loans disbursed from 31 Dec 2024)
Foreclosure
- Axis Bank
- 3% of the outstanding before 36 months; 2% after; plus GST
Penal charge on overdue
- Axis Bank
- 8% a year above the loan rate on the overdue amount
Worked example: what a ₹5 lakh loan costs
Take ₹5 lakh over 60 months. At the starting rate of 9.99%, the EMI is ₹10,621 and the interest ₹1,37,264. A 2% fee is ₹10,000, ₹11,800 with GST, which lifts the effective annual cost to about 11.03%.
Axis's published range runs up to 22%. At 13.99% the EMI is ₹11,632 and the interest ₹1,97,892; at the 22% ceiling the interest would be ₹3,28,567. Where you land in that range depends on your credit score, income and employer, so get the quote in writing before you accept.
Seven-year tenure: lower EMI, more interest
Stretching the same ₹5 lakh at 9.99% from 5 to 7 years cuts the EMI from ₹10,621 to ₹8,298, but raises the total interest from ₹1,37,264 to ₹1,97,033. The longer tenure is useful if it keeps your FOIR within limits or your budget comfortable; use the free yearly prepayment to bring the cost back down when you can.
Using the free 25% prepayment
For loans disbursed from 31 December 2024, Axis lets you prepay up to 25% of the outstanding each year, after 12 EMIs, without a charge. On the ₹5 lakh loan above, about ₹4,18,848 is outstanding after 12 EMIs, so you could prepay up to about ₹1,04,712 that year for free. A full foreclosure is different: it costs 3% of the outstanding plus GST before 36 months. Closing after 24 EMIs, with ₹3,29,208 outstanding, would cost about ₹11,654 and save ₹53,151 of interest. Spreading prepayments across years within the free 25% avoids the charge altogether.
How Axis compares with other banks we track
Starting rates and fees from each bank's own website. Compare the APR in each Key Facts Statement for your actual offer.
| Lender | Starting rate | Processing fee | Rate checked |
|---|---|---|---|
| HDFC Bank | 9.99% | Up to ₹6,500 + GST | 11 Oct 2026 |
| SBI (Xpress Credit) | 10.00% | Up to 1.5% (₹1,000 to ₹15,000) + GST | 28 Sept 2026 |
| ICICI Bank | 9.99% | — | 28 Sept 2026 |
| Axis Bank | 9.99% | 1.5% to 2% + GST | 28 Sept 2026 |
| Kotak Mahindra | 10.99% | — | 28 Sept 2026 |
| IndusInd Bank | 10.49% | 3.5% (1.5% to 2% during offers) | 28 Sept 2026 |
HDFC Bank
- Starting rate
- 9.99%
- Processing fee
- Up to ₹6,500 + GST
- Rate checked
- 11 Oct 2026
SBI (Xpress Credit)
- Starting rate
- 10.00%
- Processing fee
- Up to 1.5% (₹1,000 to ₹15,000) + GST
- Rate checked
- 28 Sept 2026
ICICI Bank
- Starting rate
- 9.99%
- Processing fee
- —
- Rate checked
- 28 Sept 2026
Axis Bank
- Starting rate
- 9.99%
- Processing fee
- 1.5% to 2% + GST
- Rate checked
- 28 Sept 2026
Kotak Mahindra
- Starting rate
- 10.99%
- Processing fee
- —
- Rate checked
- 28 Sept 2026
IndusInd Bank
- Starting rate
- 10.49%
- Processing fee
- 3.5% (1.5% to 2% during offers)
- Rate checked
- 28 Sept 2026
Who an Axis personal loan suits
- Borrowers who need a long tenure to keep the EMI low.
- Borrowers who expect to prepay in instalments, such as from annual bonuses, using the free 25% a year.
- Axis salary-account and existing customers, who may see pre-approved offers in the Axis Mobile app.
Watch out for
- The range is wide, up to 22%; a weaker credit profile can be priced near the top.
- The percentage processing fee costs more on a large loan than a flat fee would.
- Full foreclosure is charged for the life of the loan (3%, then 2%); it never falls to nil.
How to apply
Existing Axis customers can check pre-approved offers in internet banking or the Axis Mobile app. New customers apply on Axis Bank's website with PAN, Aadhaar, salary slips and bank statements. Check the Key Facts Statement for the rate, fee, any insurance premium and the foreclosure terms before you e-sign.
Frequently asked questions
Is Axis cheaper than HDFC or ICICI?
On published starting rates they are close: Axis and ICICI start at 9.99%, and HDFC at 9.99%. Your actual offer depends on your profile, so compare the APR in each Key Facts Statement.
Does Axis charge for part-payment?
For loans disbursed from 31 December 2024, part-prepayment of up to 25% of the outstanding a year is free after 12 EMIs. Larger amounts or earlier prepayments may be charged; check your Key Facts Statement.
What does foreclosing an Axis personal loan cost?
3% of the outstanding before 36 months and 2% after, plus GST.
What is the longest tenure?
12 to 84 months.
Sources & references
- Axis Bank — Personal loan interest rates and charges — Axis Bank
- Axis Bank — Charges for personal loan foreclosure or pre-closure — Axis Bank
- RBI — Key Facts Statement (KFS) for loans and advances — Reserve Bank of India
Rates, fees, eligibility, and product terms cited on this page reflect the sources above at the time of publication and may have changed since. Always verify directly with the lender or regulator.
Advertisement