Availing personal loan helps in meeting any immediate financial need. But most of the time, you end up taking personal loan from bank with higher rate of interest. To lower your interest rate, you can opt for personal loan balance transfer.

Using personal loan balance transfer, you can transfer your outstanding balance amount from one bank to another. 

Personal Loan Balance transfer to Axis Bank helps in getting better loan terms with a reduced interest rate. When you avail personal loan balance transfer to Axis Bank, you are benefitted with lower interest rate and reduced financial liability.

Features of Personal Loan Balance Transfer to Axis Bank

Following are the features of Personal loan balance transfer to Axis Bank-

• Very easy and simple paperwork is involved for personal loan balance transfer to Axis Bank.
• Reduced rate of interest is offered for personal loan balance transfer to Axis Bank.
• Balance transfer procedure is transparent and simple.
• Minimum part-payment and processing fees are charged for personal loan balance transfer to Axis Bank.
• No security or mortgage is required to keep for personal loan balance transfer to Axis Bank.
• Lower EMI payment for personal loan balance transfer to Axis Bank.

Axis Bank Personal Loan Balance Transfer Online

In order to reduce your personal loan liability, you can opt for personal loan balance transfer to Axis Bank. This will help you to reduce the interest rate. After the personal loan balance transfer to Axis Bank, you can pay a lower EMI with extended loan repayment tenure.

Eligibility for Personal Loan Balance Transfer To Axis Bank

• Age– 21 to 60 years
• Employment– Salaried or Self-employed individual.
• Income- Rs. 25,000
• Status of Employment– Minimum of 2 years experience with no break in the salary credits
• Amount of loan to be transferred– Rs. 50,000 (minimum)
• Credit Score– 750 or above
• No delayed Payments- There should be no delay in payments or bounces while repaying the loan.

Documents required for personal Loan Balance Transfer To Axis Bank

• Application form and passport size photo.
• KYC Documents- Voter ID Card,  AADHAR Card,  PAN Card,.
• Current Residencial Proof- Agreement of Rent, Driving License, Passport, Utility bills- Gas, Water, or Electricity bill.
• Income Proof- Pay Slip of last 3 months, Last 1 year FORM 16, bank a/c statement of last 3 months which shows your credited salary.
• Balance Transfer Proof- Prevailing Personal loan proof, Transfer request letter from the existing bank to Axis Bank, Pre-closure request letter of the existing personal loan.

Axis Bank Personal Loan Balance Transfer Interest Rate

• If the existing bank offers an interest rate lower than 16%, then Axis Bank offers 1.5% lower interest rate with the external financer rate (as subject to the ROI 14.5% which is minimum). In this case, the processing fee is 1.50%
• If the prevailing bank offers interest rate higher than 16%, then Axis Bank offers 3% lower rate of interest with the external financer rate (as subject to the ROI 14.5% which is minimum). Here, 1.50% processing fee is charged

Benefits of Personal Loan Balance Transfer to Axis Bank

Here are some of the benefits of personal loan balance transfer to Axis Bank-

• Repayment loan tenure starts from 12 to 60 months for personal loan balance transfer to Axis Bank.
• Avail 2% lower rate of interest from the prevailing interest rate when you opt for personal loan balance transfer to Axis Bank.
• As per your convenience, you can close or prepay the loan when you go for personal loan balance transfer to Axis Bank. 
• Enjoy nil prepayment charges for personal loan balance transfer to Axis Bank.
• No extra charge for the request of personal loan balance transfer to Axis Bank.
• Enjoy the facility of increasing the loan repayment tenure for personal loan balance transfer to Axis Bank.