Axis Bank personal loan balance transfer| comes with abundant benefits such as higher rates of interest, extended loan term, high loan amount, etc.
The Axis Bank Personal Loan Interest Rate on balance transfer starts from 10.40% p.a., while the loan term ranges between 1 year and 5 years. Have a look at the vital elements of Axis Bank personal loan balance transfer.
Benefits Axis Bank Personal Loan Balance Transfer
Following are the benefits that you can enjoy if you consider availing of the personal loan balance transfer facility from the Axis Bank:
- Axis Bank offers a lower interest rate on personal loan balance transfers. Low-interest rates will help you to scale back the interest load.
- Axis Bank Balance transfer provides you with the opportunity to negotiate on the element of the loan term as per your requirement.
- The longer repayment term mitigates the EMI load whereas shorter loan tenure facilitates to scale back the interest load.
- The balance transfer facility also helps you to avail the highest facility and meet your cash needs.
- There are odds that you won’t feel satisfied by the services offered by your existing bank, in such a case, you can transfer your personal loans to the Axis Bank and enjoy better facilities.
- Axis Bank offers additional features like waiver of last EMI, zero processing fees, lower interest rates, etc. based on the repayment history and income stats.
Axis Bank Personal Loan Balance Transfer Eligibility Criteria
The eligibility criteria of Axis Bank personal loan balance transfer is dependent upon your repayment history, credit score, and income dynamics. Some basic eligibility criteria of the Axis Bank Personal Loan balance transfer are mentioned below:
- You must be a salaried or self-employed individual.
- You can apply for the loan if you are above the age of 21 years.
- You can’t apply if your age surpasses 65 years.
- You should have an existing personal loan in another bank.
- You must hold a good experience of at least 2 years.
- Your CIBIL score should be 700+.
Axis Bank Personal Loan Balance Transfer Documents Requirement
If you want to avail of Axis Bank Personal Loan balance transfer, the following are the fundamental documents that you will need to attach with your application:
- For Salaried Individual
- PAN Card
- Last 6 months’ salary slips
- Identity proof
- Address proof
- Self Employed Individual
- PAN Card
- Applicant’s bank account statements
- Last 6 months’ accounting statements
- Last 3 years’ record
- Statements of profit and loss account
Axis Bank Personal Loan Balance Transfer Calculator
- You should take the decision of transferring your personal loan balance to Axis Bank after considering the rate of interest of your current Bank and Axis Bank.
- The personal loan balance transfer fee, EMI paid and the profit gained from the balance transfer must be considered.
- You can step ahead with the Axis Bank Personal Loan balance transfer only if the gains take place on it.
- Axis Bank Personal Loan balance transfer calculator is an online calculator which helps you to calculate the savings on your potential personal loan EMI and the interest payable.
- You’ll have to input the details such as the total loan amount, interest rate in the current bank and Axis Bank, total loan tenure, and the number of EMIs successfully paid to the prevailing moneylender to calculate the savings on EMIs.
- You can also calculate the personal loan balance transfer eligibility at Afinoz and identify appealing personal loan offers with low-interest rates as contrasted with your existing personal loan interest rates.
Conclusion
To conclude, choosing Axis Bank is a wise decision for a personal loan balance transfer. Yet, you must not neglect to carry out substantial research before finalizing.
Moreover, you can dial Axis Bank Customer Care Number too so as to get information related to the same, i.e., Axis Bank Personal Loan status, etc.
