Know Your EMIs in advance with Axis Bank Personal Loan EMI Calculator

Personal loans are unsecured loans and might sound a little expensive but that is just not true! Axis Bank personal loans give you the chance to choose the loan amount that you can afford and the tenure that would be suitable. However, the interest rate that you will get will depend on your repayment capacity and hence is directly proportional to your income. But the first and foremost important thing that you should do before you seal the deal with the bank is to be prepared for the future payment. To help you know the EMIs you will have to pay, you can use an EMI calculator.

Personal Loan EMI Calculator

EMI calculator is the best way to calculate the EMI, the total interest outgo and the total payment for your personal loan. The only details that you must mention in the calculator are the interest rate, the loan amount, and the tenure. For example, if you are taking a loan of ₹15 lakhs from Axis Bank Personal loan for the tenure of 5 years and have been offered the interest rate of 15.50% per annum, the payment will be as follows:

EMI- ₹36,080

Total Interest Outgo- ₹6,64,787

Total Amount (Interest + Principal)- ₹21,64,787

Parameters on which Personal Loan EMI is calculated

Let us have a look at the functioning of the EMI calculator to understand the process:

Loan Amount- The monthly installment or EMI of a loan is dependent on the loan amount. The loan amount depends on your repayment and if you have a higher income, you are most likely to get the maximum loan amount from Axis Bank. However, it is always suggested to make sure that the amount you choose should not hamper your other financial liabilities only then the bank will grant the approval. The maximum loan amount you can get is ₹15 lakhs.

Interest Rate- Be it any loan, the interest rate would decide the EMI that you will have to pay. You are aware of the fact that the rate of interest offered to you is the annual rate and the EMI is calculated on the basis of the monthly interest rate. The personal loan interest rate at Axis Bank ranges from 15.50% to 24% per annum.

Tenure- The loan tenure directly affects the EMI as the longer the tenure will be, the lesser you will have to pay. At Axis Bank, the maximum tenure is 5 years.

Eligibility Criteria

The Personal loan eligibility at Axis Bank is subject to change from one person to another as it depends on the credit history, the category of your employer and how your relationship is with the bank. However, the general eligibility criterion is different for a salaried individual and for a self-employed individual which is as follows:

For Salaried:

• Maximum age of the applicant must be 58 years
• Minimum Net Monthly Income should be ₹15,000
• Maximum loan amount is ₹15 lakhs
• Minimum service period with current employer should be 1 year
• Good CIBIL score

For Salaried:

• Minimum age of the applicant should be 24 years
• Maximum age of the applicant must be 65 years
• Minimum Net Annual Income should be ₹2 lakhs
• Maximum loan amount is ₹15 lakhs
• Minimum work experience in current Business or Profession should be 3 years
• Good CIBIL score

How to Apply

Being one of the best banks in India when it comes to personal loans, Axis Bank makes sure you get the best deal. The bank gives you the maximum credit facility to help you manage your finances in a better way. So, if you are looking for a bank that can give you a desirable deal, you can apply at this bank. To apply, you need to follow the below-given steps:

• Check Eligibility- You can calculate your eligibility with the help of the personal loan eligibility calculator. You have to mention the category of your employer, your salary, and other details. However, young professionals are generally given higher rate as they are mostly free from any other financial liabilities.
• Apply Online- Since everything is now a click away, applying for a personal loan is also simple and quick. With the online process, you choose the secure way.
• Apply Offline- If you are not able to apply online, the offline process is also there for you. You can visit your nearest bank branch along with the documents checklist and apply for it.

Credit Cards Apply Online is Easy & Fast: Know Here How

Which is that one thing you can’t imagine to live without? Well, the answer of this question varies from person to person. But I am sure many of you will surely agree on the fact that credit card is one such magical thing without which imagining a life for many is next to impossible. Yes, these beautifully looking magical masterpieces come handy for all your lifestyle needs. Be it shopping, travelling, movies, dining, grocery or anything else, this plastic money serve all your needs in the best way. Not only this, what is more rewarding is the fact that it allows you to buy anything instantly and paying for the same later via easy monthly installments. This is the reason that credit cards apply online is highly in demand these days as applying for the same is quick and easy.

Yes, if we talk more about how to apply for the cards, there is no denying the fact that applying for the same online is surely one of the easiest way to become a proud owner of your favorite car. Well, as there is an offline way as well through which you can get the same. But it is not as easy as applying for the same online! Moreover, through this way, you are exposed to more benefits and features to have an enjoyable experience. Let’s just discuss more about this topic and try to understand how you can apply online for your favorite card.

Let’s just go step by step…

Step 1: Research

First and foremost step research you need to do in order to find the best card. There are many banks at present that offer you these masterpieces, but depending upon your needs, you need to figure out which card will suit you well. Is it travel, shopping or entertainment card?

Step 2: Compare

Now that you know which type of card you want. The next step involves is to compare other bank’s card in that category. Suppose you are looking for a travel card, now compare the cards offered by all banks in that category so that you can pick the best. You should compare a card on the basis of:

Fees, Charges, Features, Privileges, Cash Back, Rewards, Interest-free Period, etc.

Well, after following these steps, finally you picked a card that best suits your needs, hence you want to apply online for that. So, here comes the big question,i.e. How to avail the same? What is the right process? What all things one should keep in mind?

Just go through the article further to get the answers of all your questions:

• Now, here the first step involves is to open your bank’s site. Yes, it is the first and foremost thing you need to follow because without doing the same you won’t be able to apply. Just visit your bank’s site and open the credit card section from where you can avail the card.

• After that, you are required to fill in your personal and professional details such as age, income, experience, gender, financial liabilities, etc. After all the required details, you need to click on the submit button.

• The moment you click on that button, you will be redirected towards a page, where an applicant needs to submit his/her documents. Yes, documentation is also an important part of the process here. So you should always be ready with that in order to get a card of your choice.

• After doing all this formality online, the customer care executives of the bank will get in touch with you and confirm the other formalities. The moment you click on that apply now button, your query immediately reaches to the bank and just for their assurance, the credit cards apply online team call the applicant to do the further proceedings.

• It is absolutely easy to track your application online as you just need to have the application number. By submitting this number, you can easily know whether your application is approved, pending or rejected. Well, whatever the case maybe, with an online facility, everything is just so easy, simple and quick.

So, these are the steps that will take you closer to your favorite Credit card, giving you a hassle-free experience!  

Assess Your SBI Car Loan Eligibility for Securing your Quick SBI Car Loan

Going for SBI Car loan, but have you checked your eligibility for availing SBI Car loan? As eligibility is the key indicator of examining the worth of your capability for availing car loans. It is the eligibility which assesses your repayment capacity. After all, you have to shell out a certain portion from your net salary intake for affording your dream car. You should take a look that your EMI shouldn't go beyond 40% of your net salary intake.

The make and model of car you decide along with your net salary intake are the main indicators for denoting your worthiness towards SBI Car loan.To cater to the specific needs of the customers, SBI offers different options such as SBI New Car Loan scheme, SBI Combo Loan scheme, Certified pre-owned car loan and SBI Loyalty car loan scheme  where customers can pre-determine in advance the scheme of their choice that best accommodate their repayment capacity. Let's take a quick look at the eligibility criteria of SBI Car loan:

SBI Car Loan Eligibility

• For availing SBI Car loans, borrowers should fall in the category of salaried employee, self-employed professionals, and agriculturists.
• The age limit for such borrowers should be 21-65 years.
• The income criteria for salaried, self-employed and agriculturist need to fall in the range of the following :
• For Salaried employees : Net Annual Income of applicant and/or co-applicant if any, together should be ₹ 2,50,000/-.
• For self-employed professional and agriculturist:  Net Profit or Gross Taxable income of ₹ 4,00,000/- p.a. (income of co-applicant can be clubbed together).

• The permissible loan amount for the applicants need to come under the following range:

• For salaried employees: 48 times of the Net Monthly Income.
• For self-employed professionals: Upto 4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all the existing loans running in your account.
• For agriculturists: Up to 3 times of Net Annual Income.

SBI Car Loan Eligibility Calculator

Check your eligibility for availing SBI Car loan by entering the following details in SBI Car Loan Eligibility Calculator:

• Monthly Income
• Savings
• Age
• Car Value
• Car Model Type
• Credit History
• Employment Status for Salaried
• Longevity in the business for self-employed
• Accommodation
• Category of your employer

For example : You wish to check your Car loan eligibility on the basis of 'per lakh EMI' . State Bank of India will be interested to know your savings you keep aside from your net salary intake which you bring home every month. Let's say, from your net salary of ₹ 80,000, you save 40%  i.e. ₹  32,000. SBI will consider your savings as a criterion of repaying your EMI. So, taking these inputs in SBI Eligibility calculator, check out your loan amount eligibility by using the following formula:

Loan amount eligibility =₹ 1,00,000 x savings/per lakh EMI

As a men borrower, know the loan amount eligibility at an interest rate 9.15%-9.25% p.a.

Amount =₹ 1,00,000

Loan Tenure= 7 years

Interest Rate=9.15%-9.25% p.a.

Per Lakh EMI=₹1,617-₹1,622

₹ 1,00,000 x 32000/1,617=₹ 19.78 lakhs

₹ 1,00,000 x 32000/1,622=₹ 19.72 lakhs

Hence, SBI can finance your dream car within the range of ₹ 19.72-₹ 19.78 lakhs.

As a women borrower, know the loan amount eligibility at an interest rate 9.10%-9.20% p.a.

Amount =₹ 1,00,000

Loan Tenure= 7 years

Interest Rate=9.10%-9.20% p.a.

Per Lakh EMI=₹1,614-₹1,619

₹ 1,00,000 x 32000/1,614=₹ 19.82 lakhs

₹ 1,00,000 x 32000/1,619=₹ 19.76 lakhs

Hence, SBI can finance your dream car within the range of ₹ 19.76 -₹ 19.82 lakhs.

SBI Car Loan Documents

The salaried, self-employed businessmen and agriculturists are required to furnish the following documents as follows:

1. Statement of bank account for last 6 months

2. Two passport size photographs

3. Proof of identity(Any 1):  Passport/ PAN Card/ Voters ID card/ Driving License etc.

4. Address Proof (Any 1) : Ration card/Driving License/Voters ID card/Passport /Telephone Bill/ Electricity bill/Life Insurance policy.

5. Income proof : latest salary slip, form 16 for salaried employees; ITR for last 2 years for self-employed businessmen and direct agricultural activity (crop cultivation) evidence required for Khasra/Citta Adangal(showing crop pattern), Patta/Khatoni(showing land holding) with a photograph. All land should be on a free-hold basis and ownership proof is required in the name of the borrower.

6. Agriculturists need to provide documentary proof of running the activities like allied agricultural activity (such as Dairy, Poultry, Plantation/Horticulture).

7. Self-employed businessmen are required to submit documents such as audited balance sheet, P&L statement for 2 years, shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.

Bajaj Finserv Personal Loan Eligibility: Personal Loans made easy!

Bajaj Finserv Personal Loan Eligibility is the criteria of issuance preferred by Bajaj Finserv so as to judge the aptness of the applicants before approving their application for Bajaj Finserv Personal Loan.

This criteria allows the financial institution to set certain parameters which need to be fulfilled by the applicants in order to prove their worth and Personal loan eligibility for availing the credit. Bajaj finserv is one of the largest and most efficient financial institutions in the country with a major fan following. The financial institution has never failed to provide its customers with nothing but the best products and services. Read on to know more!

Bajaj Finserv Personal Loan Features

Take a look at the following features of this product:

• Quick approval: Bajaj Finance provides for quick credit approvals which makes it easy and convenient for the customers to avail credit facilities.
• Online assistance: The financial institutions provides for complete online assistance and acts prompt to all the queries and grievances of its customers.
• High range credit facility: Bajaj Finance  allows its customers to avail credit facility up to ₹ 25 lakhs so as to cover financial emergencies with huge fund requirements.
• Quick disbursal of credit: The financial institution makes sure that the customers do not have to wait too long for the credit amount. With quick disbursal of credit amount, the financial institution makes sure that your financial urgencies are taken care of. Bajaj Finserv claims to take not more than 72 hours for the loan disbursal.
• Online access: They allow its valued customers to have an online access to their loan status and account. This makes the process of loan application and repayment more transparent.
• Preapproved offers: The institution provides its existing customers with preapproved offers which includes special interest rates repayment options to improve the banking experience.

Bajaj Finserv Personal Loan Eligibility

Bajaj Finserv Personal Loan is a private finance loan which can be availed by applicants from different professional backgrounds. However, the following criteria is used to judge the aptness of the applicants. Take a look!

• Age Limit: The age limit prescribed by Bajaj Finance is from a minimum of 25 years onwards.
• Monthly Income: The applicant must earn a monthly income of ₹ 30,000 to ₹ 40,000, depending upon the city of residence.

Bajaj Finserv Personal Loan Interest Rate

Bajaj Finserv Personal Loan Interest Rates depend upon various factors. Currently, the financial institution is providing credit at an interest rate of 12.75% onwards. They also charge a processing fee for this product which ranges from 2.25% to 3% of the loan amount. Also, in case of a prepayment, the applicant is charged with a prepayment fee which is about 2% of the outstanding loan amount along with the applicable Service tax.

Bajaj Finserv Personal Loan Login

Bajaj Finserv Personal Loan Login is the unique login ID provided by Bajaj Finance to its valued customers. This is a highly beneficial facility provided by the financial institution as it allows the customers to be in touch with the progress of their credit account. The customers can access their loan account anytime and anywhere with this facility. They have ensured maximum transparency and involvement of the customers so as to allow them the best banking experience.

Bajaj Finserv Personal Loan Customer Care

Bajaj Finserv Personal Loan Customer Care is a robust and efficient division of the institution which takes care of all the queries and concerns of the customers. This division can be reached out via multiple channels. The Personal Loan Customer Care numbers are 020-3957-5152 and 020-3957-4151. One can also use their customer portal to reach them and register their queries. Also, you can write to them at wecare@bajajfinserv.com so as to avail any help. Alternatively, you can visit the nearest Bajaj Finance branch to get personalised help and assistance from the bank executives.

Car Loan Interest Rates - Plan your Repayment Before

The only hindrance that prevents us from purchasing a car is the finance. The huge amount required to buy a car refrain us. But with the availability of loan products it has become easy to buy the car first and pay for it later. A unique loan product that makes it possible to own up a car is a car loan. The lender on the behalf of customer pay to the car dealer and redeems the same later in installments. It becomes convenient for the borrower to settle the debt via small payments. The repayment we make involves interest as well.

So, our EMI constitutes a part of the principal loan amount and interest amount. Therefore, in order to keep the EMI amount low, we need to search for the lender who provides the credit at lower rates. Lower the Car loan interest rates, lesser the burden of repayment. Low rates make your loan journey smooth and comfortable. It puts less pressure plus lets you fulfill your dream.

There are various lending institutes that offer the credit facility. This facility can be used for the purchase of both old and new cars. However, the lending rates differ on both. The factors that determine the rate of interest is the condition of the car. On new car loan, the rates are lower in comparison to the rates offered on the used car loan. However, there are several factors that play a crucial role in the determination of interest rate.

Factors Affecting Car Loan Interest Rate

1. Credit Score - The lenders take high interest in the credit score of the applicant. It plays a crucial role in finalising the deal. It is an important factor that determines whether the individual is eligible to avail the facility or not.
2. Income is to Debt Ratio - The other factor that controls the interest rate is the amount of money the applicant owes to others. The lender views the amount of money that the applicant has earned in that specific period. Through this, the lender realizes how much time the borrower will take to repay the loan.
3. Credit Size and Repayment - The amount of down payment is indirectly related to car loan interest rate. Higher the down payment, lower will be the lending rate.  
4. Age of Vehicle - It is the most important points with respect to used cars. If the car is new it will attract low interest charges. Whereas, on the used car, the charge would bear direct relationship with your car’s age. The older the car higher the rates.
5. Loan Repayment Tenure - The duration also acts as a deciding factor while determining the rate. If the tenure is long then the borrower has to pay interest at high rates and vice-versa.

For the potential car buyers, it is advisable to keep the loan tenure short. Though the installment amount on longer tenure may be less, but ultimately the borrower ends up paying high interest. If capable, one should always avail for short term loans. Taking a Car loan is not bad. But the problem is not repaying it on time. This affects your CIBIL score. And in future the lender averse from giving you the loan. Maintaining a good CIBIL is important for you to avail any credit facility in future.

If you have a dream of owning a car don’t sit back thinking of unavailability of funds. As it is said, “ Where there is will, there is a way “. If you are determined to have your own car, without giving a second thought apply for the loan. To take the benefit of same you need to fill the application form. The form comprises of the following sections:

1. Personal Details
2. Income Details
3. Loan Details
4. Details of car model
5. Details of co-applicant
6. Signature

Apart from this, for verification, you need to attach certain documents. These documents include proof of identity, address proof and income proof. You also need to provide the bank statement and pro-forma invoice or rate list. Once these are submitted the application is registered and after the qualification check and thorough verification the application is approved or rejected accordingly.

Check Bajaj Finance Personal Loan Eligibility for fulfilling your Instant requirements

Are you looking for a reliable lender who can fulfill your immediate financial necessities? Go for Bajaj Finance, a non-banking financial company which guarantees you to sanction your personal loans instantly once your personal loan application gets approved. The company disburses personal loans directly in your bank account within 72 hours.

 Ascertain your eligibility criteria before submitting your application form. Your eligibility indicates the quantum of loan amount which you will be granted with Bajaj Finance. Use Bajaj Finance Personal eligibility calculator in this regard for getting accurate details in order to start processing your loan amount quickly. The age criterion, the borrower's profession/occupation, net monthly income are some of the essential details that play an active role while sanctioning you the desired loan amount.

Personal loans are unsecured loans which can rescue you in the times of your immediate financial necessities. Whether it is related to organizing a wedding in the family, pursuing higher education, paying school fees of your son/daughter, affording an expensive medical treatment or planning a vacation and much more. With personal loans, you can even plan out for your bigger purchases like buying heavy electronic items like LCD, iphone, washing machine, refrigerator etc.

It becomes your moral responsibility to clear all your past track record of financial commitments so that you can successfully earn a good CIBIL score. The better your CIBIL score is, the fairer will be your chances of availing a higher amount of personal loans.

  

Bajaj Finance Personal Loan Interest Rates

There are certain factors which are necessary to be considered while obtaining personal loans. Such factors are :

• Your Credit History
• Your salary
• Your existing monthly installments(if any)

These factors determine whether you have maximum chances of getting the personal loans or not.

The lowest Personal loan interest rate starts from  12.75% p.a. for loans upto ₹  25 lakhs. There are additional charges which are required to be paid as well. Such charges include:

• Processing fees
• EMI bounce charges
• Penal Interest
• Security fee(only for online)

These charges are mandatory to be paid towards processing of your personal loan.

Bajaj Finance Personal Loan Eligibility

• The borrower's age should fall in the range of 25-55 years.
• The borrower should be a salaried employee of either an MNC, public or private company.
• The net monthly intake of the borrower should be dependent upon the residing location as follows:
• The minimum net salary need to be ₹ 40,000 per month for cities such as Bangalore, Chennai, Coimbatore, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Surat, Thane
• The minimum net salary needs to be ₹ 35,000 per month for cities such as Ahmedabad, Chandigarh, Cochin, Jaipur, Kolkata, Nagpur
• The minimum net salary needs to be ₹  30,000 per month for cities such as Aurangabad, Baroda, Bhubaneswar, Indore, Madurai, Mysore, Nasik, Trivandrum, Vijayawada, Vizag, Bhopal, Raipur.

 Bajaj Finance Personal Loan Eligibility Calculator

Now determine your eligibility online, by entering the below details as required :

1. Your Date of Birth

2. Your Current City of Residence

3. Your Company/Employer Name

4. Your Net Salary

5. Your Combined Monthly Loan EMIs

6. Your Combined Outstanding amount on Credit Card

7. You need to mention whether you are availing Home Loan or not

Once you have completed with all the above details, proceed further to ascertain whether you are eligible for personal loans or not.

Bajaj Finance Personal Loan Apply Online

• Log in to the Personal Loan section of Bajaj Finserv website.
• Click on the button 'Apply Online'.
• Specify your complete and accurate details such as reference Pin code, residence city, residence state, PAN Card, Mobile number, Date of Birth, your First Name, Middle Name, Last Name, your official email address, select your company name(employer name) and enter the net salary credited for the last two months.
• Finally, click the 'Submit' button to submit your online application.
• Later on, the representative from Bajaj Finance will contact you for document collection. Afterward, your bank account will get directly credited with the personal loan amount.

Documents Required for Bajaj Finance Personal Loan

1. KYC Documents:

• Identity Proof(Any one of the below)

• Passport / Voters ID card / Driving license / PAN card

• Address Proof(Any one of the below)

• Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR / Admin sign)

2. Salary slips of the last 2 months

3. Salary account bank statement of the last 3 months

4. Employee ID card to furnish as employment proof