Axisbank Net Banking
Are you planning to go on a holiday? Or you to gift your wife a lovely diamond ring? All you need to do is grab a personal lend for all these needs. Acquisition of a personal loan is not as unmanageable as it is thought to be. AXIS bank offers personal loan for up to 20 lakhs with a long quittance period ranging 12 to 60 months. The main advantage is that the loanword needs no guarantee or security from your side which means that it has minimum documentation and thus easy acquisition of loan.
It provides special loans for engineers, chartered accountants, doctors, architects. If you are married, you can make your spouse as a co-borrower and increase the amount of loan that you can borrow for your needs. Prepayment options ar available at no cost on the principal amount only after 6 months of repayment. In addition there are no charges of switching from fixed to floating rates of interest or vice-versa. AXIS Bank scores over its competitors by providing a Zero Balance Savings Account. You can repay the loanword in Equated Monthly Installments (EMI’s) through post-dated cheques favouring AXIS Bank Limited, or if you have an AXIS Bank account you can mandate the bank to directly debit the same.
However, if for some reasons, you fail to pay the EMI Rs 500 + taxes per cheque bounce and a penal interest @24% per annum would be levied. To acquire the loan, all you need to be is a resident of the Indian soil. If you ar 25 years old and have a net annual income of Rs.1,80,000 (for salaried employee) your eligibility criterion completes with a passport sizing photograph, an identity proof and a proof of your official address. In addition you need to give a 6 months bank statement and a qualification statement. If you are self-employed, you need an additional proof of Business persistence with a higher net annual income of Rs.2,00,000 With pros of servicing there are cons too. The company does not encourage providing lend in rural areas by keeping its net annual income lower, which many government banks does. Comparatively, the amount of documentation is higher as compared to other banks. Plus, the minimum net annual income for salaried and self-employed is higher too in this bank.