Personal loan EMI calculator – AXIS

Taking a personal loan unlike a house or a car loan allows you the freedom to use it in any way you see fit. However, the most important part even before you apply for a loan is to calculate the EMI payable every month.

You can calculate EMI in two ways:

  1. Do the calculations by hand
  2. Use the Axis personal loan EMI calculator

Why should you choose the Axis bank personal loan EMI calculator?

Doing calculations by hand has several problems listed below:

  1. Slow process: Calculating EMI without using the Axis bank EMI calculator is quite a slow and tedious process.
  2. Human Error: Apart from it being a slow process, calculating EMI on pen and paper leaves room for human error which can be quite risky as not knowing how much EMI is payable every month can leave a person financially vulnerable.
  3. Comparisons are difficult: To figure out the EMI for a different loan amount, you have to start the calculations all over again.

How the Axis EMI calculator overcomes these issues:

    1. Fast: Using the Axis Bank Personal loan EMI calculator can let you know how much EMI is payable within minutes.


  • Accurate:  The Axis Bank EMI calculator leaves no room for errors. You can find out exactly how much EMI is payable every month.
  • Easy comparisons: Given the simplicity and accuracy of the Axis EMI calculator, you can easily compare between separate loan amounts and loan tenures.
  • Simple to use: The Axis personal loan EMI calculator does all the work for you. It is very simple and easy to use.


How does the Axis bank personal loan EMI calculator work?

The EMI calculator takes several inputs from the potential loan borrower such as:

  1. Loan Amount: This is the principal amount that you intend to borrow
  2. Loan Tenure: This is the number of years over which you intend to repay the loan
  3. Interest Rate: The Axis Bank personal loan interest rate is also factored in.

It uses formulas to calculate the monthly interest rate and the EMI payable.

To calculate EMI, there is a mathematical formula.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where

P stands for the loan amount or principal,

R is the interest rate per month [if the interest rate per annum is 18%, then the rate of interest will be 18/(12 x 100)], and

N is the number of monthly instalments.

Features of Axis Personal Loan EMI Calculator

  • Axis Bank personal loan calculator tool available online on the bank’s website. It can help you calculate how much EMI you can pay without putting a financial burden on yourself.  
  • All you need to do is enter the loan amount needed, bank interest rate and tentative tenure to get the EMIs. You can try different figures to zero in on the most suitable EMI for you .
  • It could be used for anything from buying electrical appliances, children’s higher studies, going for a dream vacation and so on.
  • There are two types of loans provided by Axis Bank. One is called protected (with a collateral/ guarantee) and the other is known as unsecured loans (without any kind of security).
  • You can compare the rates offered by Axis bank with other banks using the calculator.
  • Once you calculate the EMI, getting the personal loan approved comes down to eligibility.


Axis bank personal loan eligibility:


The Axis bank personal eligibility criteria is as follows:

Individuals who can take a Personal Loan

  • Salaried Employees
  • Salaried doctors
  • Public and private limited companies and their employees
  • Employees belonging to the Government sector as well as Public Sector Undertakings and central and local bodies
  • The minimum age to apply for the loan is 21 years
  • At loan maturity, the maximum age of loan borrowed should not be more than 60 years
  • The minimum net monthly income should be at least Rs. 15,000

Documents required:

  • Application form
  • Photograph
  • Age proof
  • ID proof
  • Income proof
  • Bank statement
  • Residence proof
  • Signature verification proof


Post-sanction / pre-disbursement documentation

  • Loan Agreement duly signed
  • Standing Instruction (SI) Request / ECS Form.
  • Qualification or registration proof required varies from customer to customer


Fixed Rate Loan 1 year MCLR Spread over 1 year MCLR Effective Interest rate Reset
Personal Loan 8.60% 6.90%-15.40% 15.5%-24% No Reset





    1. What is the Axis bank personal loan interest rate?

The interest rate changes every year so the current Axis bank personal loan interest rate should be verified with the bank.

    1. What is the minimum loan amount?

The minimum loan amount is Rs 50,000 and the maximum is Rs 15,00,000

    1. Is there a processing fee?

Yes, the bank charge a non-refundable processing fee for every Personal Loan application. The processing charge can be anywhere in the range of 1.5% to 2% plus GST to avail of an Axis Bank Personal Loan.

    1. What are the different methods for making the EMI payment?

You may repay your Personal Loan in any of the following three ways:

  • Standing Instruction(SI): If you have an existing bank account such as Savings ,Salary or current account with Axis Bank, you can use this method. To use this option, you can open an Axis bank account. The EMI amount gets debited automatically at the end of every month from the Axis bank account specified by you.
  • National Automated Clearing House(NACH): If you do not have an account with Axis bank, this mode is preferable. You can get your EMI debited automatically at the end of every month from this account.
    1. Can one make part-payments?

Yes, a part-prepayment can be made by visiting the nearest Axis Bank Loan center. There are no charges levied by Axis Bank for part prepayment.

    1. Is there any GST applicable?

From July 1st, 2017  GST of 18% is applicable on personal loans.