Below is a Representative Example of a Top Up Axis Bank Personal Loan.
Existing Personal Loan Details
| Loan Amount |
₹2 lakhs |
| Tenure |
36 months |
| EMI |
₹ 6,835.53 |
| Principal Balance Post 15 EMI'S |
₹ 1,26,663.69 |
| Top Up Amount Approved |
₹ 1 Lakhs |
| The New Loan Amount Constituted |
₹ 2,26,663.69 |
| Tenure |
48 months |
| EMI |
₹ 6,193.90 |
Get a Top Up on Your Personal Loan From Axis Bank.
Axis Bank is synonymous with stability & security. Financial options offered by Axis Bank are designed for customer convenience & comfort.
A
Personal Loan from Axis Bank has the best features compared to the market availability. Individuals already running a
Personal Loan From Axis Bank can apply for additional amounts when needed, rather than going in for another loan, get the amount conveniently as a Top Up to the existing loan
What is an Axis Bank Personal Loan Top Up?
A
Top Up Loan is simply an addition to an existing loan.
Personal Loan holders of Axis Bank can now ask for funds when needed as a Top Up to the current
Personal Loan.
The requirement for funds in an emergency or for personal usage can be received conveniently via a Personal Loan Top Up From Axis Bank the amount will be processed as per the customer’s need within the shortest period.
What are The Benefits of a Top Up Personal Loan Axis Bank?
Axis Bank offers the facility of a Top Up to customers in need of funds for an emergency or personal uses, so why look elsewhere? Axis Bank enables its customers to use Personal Loans at the convenience of their customers.
Pay a Single Installment
Funds disbursed as a
Personal Loan Top Up will be added to the existing loan and a new loan amount with an increased EMI will be issued. The applicant thus has the comfort of paying a single EMI. However, following and managing multiple installments can take time and effort. With a
Personal Loan Top Up From Axis Bank, the individual can conveniently pay back the total amount under a single umbrella.
Axis Bank Top Up Personal Loan Offers Better Terms & Conditions
Axis Bank offers a better interest rate to applicants with an improved profile with a
Personal Loan Top Up. Previous loan holders needing funds can get an extra amount as a Top Up the terms and conditions of the
Personal Loan with the Top Up will be assessed per the current salary, designation, and employer. For example, with an increased salary or an employer featuring in the preferred company list of the Axis Bank, a lower
Rate of Interest will be applicable for the balance of the previous loan amount with the Top Up.
Quick Process
The requirement for funds must be fulfilled within the designated period, and the process for a
Personal Loan Top Up from Axis Bank is completed quickly so the applicant can get the amount when needed. Having a relationship gives the Bank the confidence in the applicant to disburse the funds required. The applicant’s details being verified previously by the bank will hasten the approval process. The regular monthly EMI being paid by the applicant gives the reason that the applicant will repay the loan successfully.
The Benefit of a Pre-existing Relationship With Axis Bank.
A Personal Loan is unsecured and forwarded without any security. The bank will like to be assured about the loan repayment: as a Top Up is given based on the existing loan with Axis Bank, the Bank will review the current loan status before approving a Top Up. For a customer who has an on-time repayment track, the Bank is likely to be forthcoming in giving the loan amount desired as a Top Up
What are The Axis Bank Personal Loan Top Up Eligibility Criteria?
CIBIL Score Should Be Above The Required Benchmark
A healthy repayment track & a good CIBIL Score is necessary for additional funds to be granted as a Top Up. The existing Personal Loan of the applicant’s EMI should be paid regularly for a Top up: the CIBIL Score of the applicant must be above the required benchmark of 720 points. This will verify that all credit used is being repaid timely by the applicant.
Applicant Must Have The Eligibility To Repay The Extra Amount of an EMI
The loan amount approved as a Top Up will be added to the existing personal loan, and the EMI will be recalculated as per the tenure allotted. Should the installment increase, the applicant should be able to pay the surplus. The EMI can be calculated with the Axis Bank Top Up Loan Calculator. When approving the Top, Up, Axis Bank will first check the total obligations of the applicant all current EMIs and credit card obligations will be considered. Therefore, the applicant must be able to conveniently pay all dues as per the current income to be eligible for a Top Up.
Axis Bank Must Approve The Current Employer of The Applicant.
The current employer must be included in the company category list if the applicant has changed employment since Axis Bank granted the initial Personal Loan. This is because the
Rate of Interest issued to the applicant will be per the current company category. For example, suppose the customer was working in a company listed as category C when the previous loan was taken and is now working in a category A company. In that case, a lower rate will be applicable for the entire loan amount post the
Top Up Loan Axis Bank.
The Personal Loan Policy of Axis Bank Must Adhere To The Axis Personal Loan Top Up Policy
The applicant must comply with the personal loan policy of Axis Bank:
- The applicant must be gainfully employed with a regular income.
- The salary of the applicant must be above the required benchmark and should be transferred to the salary account month on month.
- The applicant should be readily contactable at the given residential address.
What are The Reasons For Applying For a Axis Top Up Personal Loan?
A salaried applicant may Apply For a Personal Loan Top Up From Axis Bank for personal or professional reasons. In contrast, self-employed persons can use the funds for personal or business usage.
Personal Uses For a Personal Loan Top Up Include The Following:
For a Wedding or a Family Celebration
A wedding or celebration in the family calls for getting together, great food, and buying new clothes and Jewelry planning a budget for the above is necessary to ensure all goes as planned. A
Personal Loan can be availed speedily to cover up any shortfalls.
For Travel and Holiday Expenses
A Top Up to a Personal Loan is readily available, so plan the much-needed holiday & take a break from the mundane. Visit your dream destination or relax to spend quality time with your family.
For Emergencies and Medical Expenses
An emergency or an illness always comes unannounced funds are needed for treatment, medicines, and overhead costs. Suppose running a personal loan from Axis Bank and getting funds as a Top Up is the best option.
For Home Renovation or Buying New Gadgets
Having a comfortable home to return to after the day’s hard work makes it all worth the while. Furnishing it well & buying the latest gadgets to make it relaxing for yourself and the family is money well spent. So why wait to renovate and redecorate your home? Instead, apply for a Top Up on your existing personal loan from Axis Bank.
For Education Expenses
A good education is a key to a successful future, whether for you or the family a degree or instruction from a top institution will enhance the prospects for a secure career. It all comes with a cost; finances must be planned well. A Top-Up Loan from Axis Bank is handy to overcome any shortfalls.
To Pay Overdue Credit Card Bills
If not paid on time, spending on a credit card will incur an interest rate of 36% per annum. If not cleared soon, the interest will multiply and the cardholder will find it difficult to get out of the debt cycle. Clearing the bills via a
Personal Loan Top Up From Axis Bank is the solution for the shortage of funds.
Top Up's Interest Rate for a Personal Loan is less than half of what is charged for credit card dues the amount taken can be repaid conveniently over the monthly installment.
For Business or Professional Usage
A self-employed individual can use the funds received as a personal loan Top Up from Axis Bank for funding an existing business the funds can be used for any business purposes applicants practicing professionally can get a Personal Loan for working expenses, or to buy equipment.
How a Personal Loan Top Up Axis Bank Works.
Convenient foreclosure & part payment options make the Top up from Axis Bank a good choice.
An applicant needing funds for urgent personal needs with an existing personal loan from Axis Bank can apply for a Top Up. The Axis Bank Personal Loan Top-Up procedure is similar to a fresh loan. The Applicant can submit hard copies or Apply for Axis Bank Personal Loan Top Up Online.
The Required Documents are To Be Submitted, Which Will Be Verified as Per The Following Details:
- The authenticity of the documents submitted.
- The net salary of the applicant is above the required benchmark.
- The company, the applicant, is employed with is included in the Axis bank company category list.
- The applicant’s salary is being transferred to the Bank account monthly.
- There is no bouncing of EMI, or any cheque has been returned due to a shortage of funds in the past six months.
The CIBIL of The Applicant Will Be Assessed.
The CIBIL Score of the applicant will be reviewed, and other loan tracks will be checked to ensure that the applicant is paying all dues timely.
Physical Verification Will be Conducted.
A physical verification will be conducted at the applicant’s current residence address to establish contact ability; if the applicant has a self-owned house and lives in the same address the same will be skipped.
Application is Forwarded For The Underwriting of The Top Up Request.
Axis bank is keen to forward additional loan amounts to its existing customers who are paying the EMI on time. Therefore, the underwriter will re-evaluate all the above data and finally decide on the request.
On approval of the request, the applicant will be asked to sign the agreement accepting the terms and conditions of the loan.
The process for disbursal is as follows:
- The loan amount approved as a Top Up will be credited to the applicant’s Bank account.
- The existing personal loan will close, and a new loan will be created. The new loan amount will comprise the principal balance of the current loan, with the new loan amount added as a Top Up.
- A fresh tenure will be applied, and a new EMI will be instated as per Axis Bank Personal Loan Top Up Interest Rate Applicable.
What are The Features of a Top Up Personal Loan in Axis Bank?
The Loan Amount Disbursed as a Top Up.
Axis Bank forwards loan amounts from ₹ 50k up to ₹ 15 lakhs as a top to the existing personal loan. The applicant must be financially eligible for the total loan amount per Axis Bank’s criteria.
What is The Tenure For a Personal Loan Top Up From Axis Bank?
The tenure applied for a Personal Loan With the Top Up From Axis Bank is from 12 months to 60 months. The tenure is issued post the Top Up as per the applicant’s financial eligibility to pay the EMI.
What are the Charges For a Personal Loan Top Up From Axis Bank?
Personal Loan charges from Axis Bank for a Top Up include the following:
Rate of Interest: The Rate of Interest is the cost at which the personal loan is forwarded Axis Bank charges interest for a Top Up at a rate similar to the charges for a new personal loan. The applicant’s current employer governs the interest rate charged for a Personal Loan. Suppose the applicant has worked with the same organization since the previous personal loan was granted. In that case, the rate of interest for the Top Up will be the same: if the applicant has changed employment, the rate of interest charged will be as per the category of the company as per the Axis Bank.
Processing fees: The process fees for the Top Up will be charged at 1% for the loan amount approved as a Top Up.
Pre-closure and Part payment: As per the policy of Axis Bank, the applicant can fully pre-pay the loan amount appended or make part payment towards the principal, there are no restrictions on the amount and no additional charges are applicable for the same.
The Axis Bank Personal Loan Charges With a Top Up are Listed Below.
NAVOCH OFFER FOR AXIS BANK SALARY ACCOUNTS HOLDERS
| Company |
Rate of Interest |
| Net Salary |
>=25K - <35 K |
>=35k - <50k |
>50k-<75k |
>=75k |
| Super A/A |
14.99% |
14.25% |
12.25% |
11.49% |
| CAT B/C/CX/GOV |
15.99% |
15.99% |
12.75% |
11.49% |
| Processing Fees |
1.49% |
1.25% |
0.99% |
1.49% |
SARVOTTAM OFFER FOR FRESH LOAN
| Company |
Rate of Interest |
| Net Salary |
>=25K - <35K |
>=35k - <50k |
>50k-<75k |
>=75k |
| Super A/A |
15.25% |
14.49% |
12.49% |
11.49% |
| CAT B/C/CX/GOV |
16.25% |
15.49% |
12.99% |
11.49% |
| Processing Fees |
1.99% |
1.49% |
1.25% |
1.25% |
| Charges Applicable |
Details |
| Cheque Bounce Charges |
Rs. 500 per cheque bounce + Service Tax as applicable |
| Cheque/Instrument Swap charges |
Rs.500 per instance + Service Tax as applicable |
| Prepayment/Foreclosure Charges |
Nil |
| Default Interest Rate |
@24.00% per annum, i.e., 2% per month on the overdue installment |
| Duplicate Statement Issuance Charges |
Rs 250 per instance + Service Tax as applicable |
| Duplicate Amortization Schedule Charges |
Rs 250 per instance + Service Tax as applicable |
| Duplicate Interest Certificate issuance Charges |
Rs 250 per instance + Service Tax as applicable |
| CIBIL Report Issuance Charges |
Rs. 50/- per instance per set+ service tax as applicable |
| Stamp Duty Charges |
As per State Stamp Act |
| Issuance Charges for Photocopy of Loan Agreement/Documents |
Rs 250 per instance + Service Tax as applicable |
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Below is The Documentation Required To Process a Personal Loan Top Up from Axis Bank.
KYC Documents
Proof of Identity - Passport / Driving License / Voters ID (anyone)
Proof of Residence - Leave and License Agreement / Utility Bill (not more than three months old) / Passport (anyone).
Aadhaar Card Copy.
2 Passport Size photographs
For Income Proof
Pan Card Copy
Latest 3 months’ Bank Statement (where salary/income is credited).
Salary slips for the last three months.
Form 16 (latest).
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