You may place a request for Statement of Account or Repayment Schedule or Interest Certificate in either of the following ways:
- By calling our Call Centre. To find the numbers, click here.
- Write to us at Online: www.axisbank.com/support.
- In person at any Axis Bank Loan Centre.
Thereof, can I pay EMI after due date?
Paying your EMI’s on or before the due date is always advisable. … Banks/NBFCs normally charges a penalty rate of 1-2% of your EMI if it remains unpaid for 30 days after the due date.
Hereof, can I reduce my personal loan EMI Axis Bank?
Once you have a fix on the EMI, you can decide the amount of the Axis Bank Personal Loan you can take. You could reduce your EMI by opting for a longer tenure for your loan. … This way you will be able to choose an optimum balance between the tenure of your Axis Bank Personal Loan and the EMI you will pay.
How can I prepay my personal loan in Axis Bank?
Visit the loan centre and request for a personal loan preclosure statement to know how much outstanding amount you need to pay. When you get the preclosure statement, pay the remaining amount through cash or cheque as per your accessibility.
How is EMI interest calculated?
N = Number of monthly instalments. The aforesaid variables along with the processing fee are needed to determine your EMI. The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 10% per annum, then R= 10/12/100 = 0.0083.
How is personal loan EMI calculated monthly?
The Equated Monthly Instalment (or EMI) consists of the principal portion of the loan amount and the interest. Therefore, EMI = principal amount + interest paid on the personal loan.
Is EMI deducted on Sunday?
Banking transactions will now also take place on Sundays and other holidays. The Reserve Bank of India has decided to continue the National Automated Clearing House System 7 days a week. … Moreover, the EMI of the loans will also be deducted on holidays.
What is an amortization schedule?
What Is a Loan Amortization Schedule? A loan amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.
What is personal loan?
A personal loan is a loan that does not require collateral or security and is offered with minimal documentation. You can use the funds from this loan for any legitimate financial need. Like any other loan, you must repay it accordance to the agreed terms with the bank.
What is the EMI for 3 lakhs personal loan?
Calculated Monthly EMI for 300000 of loan amount for 3 years at various rate of Interest :
| Loan Amount | Rate of Interest | Per Month EMI |
|---|---|---|
| 3 Lakh | 15.00% | Rs.10399.6 |
| 3 Lakh | 16.00% | Rs.10547.11 |
| 3 Lakh | 18.00% | Rs.10845.72 |
| 3 Lakh | 20.00% | Rs.11149.08 |
Which private bank is best for personal loan?
Top Private Sector Banks Offering Personal Loans
| Bank | Interest Rate (p.a.) | Repayment Tenure |
|---|---|---|
| ICICI Bank | 11.25% onwards | 12 months to 60 months |
| Axis Bank | 16% to 24% | 12 months to 60 months |
| HDFC Bank | 15.50% to 21.50% | 12 months to 60 months |
| Kotak Mahindra Bank | 10.99% to 24% | Up to 60 months |