Your Axis Bank Personal Loan is based on your credibility. So, if you earn more and have a credit score of more than 750, you could be eligible for a higher loan amount compared to someone with less earnings and a low score. While high income offers more repayment space, a good credit score shows you are a responsible borrower. Read this page and know more about it.

Factors That Help Determine Axis Bank Personal Loan Amounts

Axis Bank provides this unsecured loan to you based on your repayment capacity that will be estimated based on the below factors  –

Monthly Income

Axis Bank personal loan allows you to get a personal loan with a minimum income of INR 15,000. But this type of income won’t make you eligible for a higher loan amount. If you meet the minimum income criteria, you can borrow a minimum loan amount of INR 50,000 from Axis Bank. 

Credit Score

A three-digit number shows how capable you are of paying the loan. How? Well, a credit score is the representation of your credit history such as credit card and loan payments. The lowest score is 300 and the highest is 900. So, if you’ve got a score of 750 or more, it means you have your previous credits on time. It carves out a nice impression of yours and helps you borrow easily. 


If you’re barely meeting the loan requirements, add a co-borrower because it will help you increase your credibility. Because borrowing an Axis Bank Personal Loan jointly means there is more security. So, in case you’re not able to repay the loan, the co-borrower will step in and complete the loan repayment. 

Current Obligations

When you have no current EMIs or credit card bills, it will be easy for you to afford Axis Bank Personal Loan. But in case you have a baggage of credits, your income will decide whether you can afford the new EMI.

What if I am Eligible for a Maximum Axis Bank Personal Loan?

In that case, you can meet your financial needs without any trouble. And to manage the loan repayment, you could take help from the Axis Bank Personal Loan EMI Calculator. It helps you minimize interest payments and keep EMIs relatively affordable. Let’s see how this tool works.

Sameer needs lump sum money, so he can plan his next vacation. And after evaluating a bunch of offers, he came across Axis Bank Personal Loan. Sameer checks the eligibility criteria for a lowest personal loan interest rate and finds out that he can borrow up to INR 10 Lakh. And it has happened due to his clear credit history and regular flow of income.

Now, he uses Axis Bank Personal Loan EMI Calculator to choose a suitable loan tenure –

Loan Amount – INR 8 Lakh

Interest Rate – 11.75% per annum

Let’s check out the EMI and total payable interest for different tenures

For Two Years

EMI – INR 37,286

Interest – INR 94,870

For Three Years

EMI – INR 26,191

Interest – INR 1,42,875

For Four Years

EMI – INR 20,676

Interest – INR 1,92,468

For Five Years

EMI – INR 17,394

Interest – INR 2,43,636

As you can see above, the EMI calculator shows that if Sameer chooses a shorter tenure, his payable interest will be low but the EMI may not be manageable. On the other hand, in case of longer tenure, the EMIs are affordable but Sameer could end up paying more interest.

So, he chooses a tenure of three years where the interest component is not that high and EMIs are also affordable. 

You’ve now got an idea of how these calculators help you plan better.

Read Also –

Finance related articles

Leave a Reply