1. What is Axis Personal Loan Eligibility?

The Axis Bank Personal Loan Eligibility Calculator helps determine how much you can borrow based on your repayment capacity. Axis Bank offers personal loans starting at 10.49% p.a. interest rate.

2. How Does the Calculator Work?

The calculator uses the loan eligibility formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( PMT \) — Affordable monthly payment (INR)
• \( r \) — Monthly interest rate (decimal)
• \( n \) — Loan term in months

Explanation: The formula calculates the maximum loan amount you can take based on what you can afford to pay monthly, the interest rate, and loan duration.

3. Importance of Loan Eligibility Calculation

Details: Knowing your eligibility helps in financial planning and ensures you don't apply for amounts beyond your repayment capacity, avoiding loan rejection.

4. Using the Calculator

Tips: Enter your comfortable monthly payment amount, current Axis Bank interest rate (default 10.49%), and desired loan term in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is Axis Bank's personal loan interest rate?
A: Rates start at 10.49% p.a. and vary based on credit profile, loan amount, and tenure.

Q2: What is the maximum loan amount I can get?
A: Axis Bank offers up to ₹40 lakhs for personal loans, depending on eligibility.

Q3: What factors affect my loan eligibility?
A: Income, credit score, existing obligations, employment type, and relationship with the bank.

Q4: Is this calculator accurate for final approval?
A: This provides an estimate. Final approval depends on Axis Bank's full assessment.

Q5: What are the typical loan tenures available?
A: Axis Bank offers personal loans from 12 to 60 months (1-5 years).