Axis Bank offers Consumer Loan for the people in india at low interest rates in a speedy and simple process with easy documentation. The Axis Bank’s Consumer loan will help you acquire the consumer durables you need.
Loan Amount: You can apply for as little as Rs 25,000, or as much as Rs 2 lacs. The maximum loan amount cannot exceed 85% of the cost of the durable, or 12 times your net monthly salary (or equivalent of net annual income for self-employed persons), whichever is lower.
Repayment: You can choose to repay your loan in 12, 24 or 36 Equated Monthly Installments. If you are a salaried employee, your Equated Monthly Installments will be collected directly from your employer under the check-off facility. For others, post-dated cheques will be collected.
Eligibility Criteria:
1) Salaried Individuals: Any individual who is in permanent service in government or reputed companies with a net minimum salary of Rs 7,500
2) Self Employed Individuals: In case of self employed individuals, minimum net annual income of Rs 1 lacs.
3) The applicant in both cases should be above 24 years of age at the time of loan commencement and 55 years or less at the time of loan maturity.
Documents Required:
- Proof of Identity
- Proof of Income
- Proof of Residence
- Bank Statement or Pass Book where salary or income is credited Last 6 months
- Invoice
- Guarantor Form
