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There are several factors that make up a good personal loan package. Some lenders are known for giving high loan amount whereas some for charging a low interest rate. Some personal loan options even provide the option of prepaying the loan at zero charges. All these benefits are sold by the lenders as a unique selling proposition, but not as a whole. Axis Bank is a stand-out in the chaos and encompasses all the benefits into an outstanding personal loan package. Letu2019s take a tour of the features of Axis Bank Personal Loan which makes it a perfect personal finance option;
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In What Ways Axis Bank Personal Loan is One of The Perfect Loan Options?
There are several factors that make up a good personal loan package. Some lenders are known for giving high loan amount whereas some for charging a low interest rate. Some personal loan options even provide the option of prepaying the loan at zero charges. All these benefits are sold by the lenders as a unique selling proposition, but not as a whole. Axis Bank is a stand-out in the chaos and encompasses all the benefits into an outstanding personal loan package. Let’s take a tour of the features of Axis Bank Personal Loan which makes it a perfect personal finance option;
Affordable Interest Rates: This is something that all of us care about the most. Why shouldn’t we? Afterall, interest rates are what makes the loan expensive. But with the Axis Personal Loan, the interest rates don’t seem much of a burden. An applicant with a good credit profile, can procure the loan at the minimum rate of 16% per annum. High Loan Amount: Whether you want to pay off your outstanding credit card bill or want to finance your child’s education, be it whatsoever, Axis Bank Personal Loan helps you reach your goals with its high loan amount offering. The personal loan amount ranges from INR 1 lakh to INR 15 lakh.
Flexible Tenure: Everyone has different earnings, and so, there is a variance in repaying capabilities. Keeping in mind this diversity, Axis offers its customers the choice of flexible tenure for repaying their loan anytime between 12 months to 60 months. However, always remember that the longer the tenure, higher will be the interest rate you’ll be paying the loan at. No Prepayment Charges: If at any point you feel like you have enough funds to close your loan before the maturity period, you are free to do this without Axis Bank charging you any fees. Even if you want to make a part-payment of any amount, Axis won’t charge you any prepayment charges for that. And let me tell you, not many banks offer this privilege on personal loans.
How can I know the EMIs I’ll be Paying for Axis Bank Personal Loan? Knowing the EMIs well-in-advance is always beneficial in terms of planning and management. This is crucial because paying personal loan EMIs can put a dent on 10%-20% of your net monthly income. If you know your EMI beforehand, you can plan out your monthly expenses better. So in order to help you out with this, Axis provides you with the Axis Bank Personal Loan EMI Calculator through which you can determine the EMIs in no-time. All you got to do is just enter three values and it will do all the calculations for you.
How to use the Axis Bank Personal Loan EMI Calculator? Like I said, this calculator is very simple and easy to use. Enter three values and the Equated Monthly Installment will be on your screen within milliseconds. First, put it the loan amount you desire from Axis Bank. Then, chooses the interest rate best suitable for you, but it shouldn’t be lower than the minimum rate offered by the bank.And lastly, enter the tenure suit for you based on your repayment capability. Axis Bank Personal Loan EMI Calculator is easily accessible on the official website of Axis and it’s absolutely free of cost. Even some financial technology companies also offer the services of checking your EMIs on their websites.
