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# Axis Bank Personal Loan Eligibility

Axis Bank Personal Loan Eligibility Calculator is one of the most finest tool to calculate your Axis Bank Personal Loan Eligibility in a second before you go for Axis Bank Personal Loan apply online. As per Axis Bank Personal Loan Eligibility Calculator you have to input key things like your company name, salary amount or if you are a self-employed your yearly turnover and if you are currently paying any EMI with all these data’s Axis Bank Personal Loan Eligibility Calculator will help you to calculate your Axis Bank Personal Loan Eligibility. Axis Bank Personal Loan Eligibility Cibil Score is 650 minimum to go for an Axis Bank Personal Loan Apply Online.

## How to calculate Axis Bank Personal Loan Eligibility?

Axis Bank Personal Loan Eligibility Calculator uses two methods to calculate the Axis Bank Personal Loan Eligibility. They always try to give the maximum amount as per that person’s eligibility. So the methods of Axis Bank Personal Loan Eligibility Calculator is- Multiplier Method, and FOIR. There is also another method FOIR which depends on the monthly installment expected to be paid as compared to the NET income of that person.

• ### Multiplier Method

Axis Bank Personal Loan Eligibility Calculator also follows the multiplier method it is one of the easiest method. The formula for Axis Bank Personal Loan Eligibility Calculator is- Axis Bank Personal Loan Eligibility = (Your net salary) * (a number from 9 to 18). Your Axis Bank Personal Loan Eligibility Calculator also depends on the company you are currently working, basically its stability, growth and turnover also helps to make your Axis Bank Personal Loan Eligibility higher.

• ### FOIR

If you are someone who pays monthly fixed payments like personal loan EMI, Credit Card bill or any kind of EMI. The formula for calculating FOIR is FOIR= (Sum of existing obligations/ Net Take Home Monthly Salary)*100

The ratio of your net take home monthly salary and your fixed obligations is FOIR. The maximum FOIR which the financial institutions consider is up to 75%, and that too when the take home monthly salary is high. The FOIR is calculated in a way that, if your current loan application is approved, your FOIR should not go beyond 75%. In the case of normal earning range, the FOIR should not go beyond 50-60% of the take home salary.

## Factors that affects Axis Bank Personal Loan Eligibility Calculator

Axis Bank Personal Loan is an unsecured loan which means you don’t have to mortgagee anything to get this loan so the Axis Bank Personal Loan Eligibility is higher than the car loan o home loan. Though they always try to give the maximum amount. Axis Bank Personal Loan Eligibility Calculator calculates based on your inputs which affect your Axis Bank Personal Loan Eligibility Calculator.

• ### Applicant’s Age

The applicant’s age is also important on Axis Bank personal loan eligibility. To avail an Axis Bank Personal Loan you need to be in the age group from 21 to 65 years old. The younger you are there are more chance that your Axis Bank personal loan eligibility is high and you will get a loan in lowest interest rate. You will even avail offers as you are younger.

• ### CIBIL Score

Your CIBIL Score matters a lot on your Axis Bank personal loan eligibility. If you have high CIBIL Score that means your Axis Bank Personal Loan Eligibility is high and if you have low CIBIL Score your Axis Bank Personal Loan Eligibility is low. Your CIBIL Score depends on how you pay your personal loan. To make your CIBIL Score high you need to repay your personal loan on time.

• ### Employment

Which company you are working and in which post and how much is your current income that matters a lot, as if you are in top notch company with high salary and high position which means you will have a bright career and your Axis Bank Personal Loan Eligibility is high. And if you are running a business you should stick with it at least for five years so your Axis Bank Personal Loan Eligibility will be high. Also, if you are salaried and your employer belongs from CAT A company list your Axis Bank Personal Loan Eligibility will be high.

• ### Debt

If you have existing debts which means if you are currently paying any kind of EMI for Credit card, home loan or personal loan your Axis Bank Personal Loan Eligibility will be lower but if you don’t have any kind of debts your Axis Bank personal loan eligibility will be high.

• ### Geographical Location

Geographical locations matters a lot on your Axis Bank Personal Loan Eligibility as if you are from metro city you have higher Axis Bank Personal Loan Eligibility than someone from rural areas. Axis Bank has red marked on some places so if you are from one of those places your Axis Bank Personal Loan Eligibility can be lower.

• ### Housing Situation

If you have your own house there are maximum chances that your Axis Bank Personal Loan Eligibility is high and your personal loan will be approved but if you are living in a rental house your Axis Bank Personal Loan Eligibility is low as your monthly income gets lower for that.

## Axis Bank Personal Loan Eligibility Criteria

 Axis Bank Personal Loan Eligibility Criteria Salaried Profession Working in government or private sector or MNCs. Working Experience 2 year at the same firm he/she is working. Age 23-60 years Minimum Income Rs.25,000/month House In the case of rent he/she has to stay there minimum 1 year.
 Axis Bank Personal Loan Eligibility Criteria Self- Employed Professionals Age 25-65 yeras Business Tenure At least 4 years Minimum Income 4.8lakh/ year
 Axis Bank Personal Loan Eligibility Criteria Self- Employed Age 25-65 years Business Tenure At least 5 years Minimum Income 4.8lakh/ year

*Interest rate and Loan approval are subjected to band discretion and approval.

## FAQ’s

The minimum amount for Axis Bank Personal Loan is Rs.50, 000
The formula of FOIR in Axis Bank Personal Loan Eligibility is FOIR= (Sum of existing obligations/ Net Take Home Monthly Salary)*100.
The tenure for Axis Personal Loan is 1 to 5 years.
The minimum CIBIL Score for Axis Bank Personal Loan is 650.
The interest rate of Axis Bank Personal Loan is 15.50%*- 24%*.
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