Axis Credit Card Loan: Interest Rate, Eligibility & Loan Amount

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An Axis credit card loan is a pre-approved, unsecured loan offered to existing Axis Bank credit card holders, letting them access funds instantly against their card without submitting fresh paperwork.

According to Axis Bank:

• Called the Instant Loan on Credit Card, designed for medical emergencies, a large planned purchase, or debt consolidation.
• No paperwork required, since it's unsecured and pre-approved for eligible cardholders.
• Processing and verification time is significantly reduced compared to a traditional loan.

What is the Interest Rate on an Axis Credit Card Loan?

The interest rate on an Axis credit card loan starts from 9.99% per annum, going up to a maximum of 21.00% per annum, depending on your specific credit profile.

A stronger repayment history on your existing card improves your chances of landing closer to the lower end of this range.

Who is Eligible for an Axis Credit Card Loan?

Existing Axis Bank credit card holders, with eligibility determined by the bank's own internal policy guidelines.

According to Axis Bank:

• Eligibility is defined by Axis Bank's internal policy guidelines, revisable at the bank's discretion.
• No collateral is required to qualify.
• Since it's pre-approved, your existing card usage and repayment behaviour directly affect whether you're offered this loan.
• Your individual credit profile decides the exact loan amount and interest rate offered.

How Much Can You Borrow Through an Axis Credit Card Loan?

You can borrow up to ₹25 lakh, with the exact amount depending on your specific credit card account and profile.

How Do You Apply for an Axis Credit Card Loan?

Check your pre-approved offer through Axis Bank's official channels and select your preferred loan amount and tenure.

Here's the process, according to Axis Bank:

1. Check your eligibility and pre-approved offer through Axis Bank's official banking channels.
2. Choose the loan amount you need, up to your eligible limit.
3. Select your preferred repayment tenure, ranging from 12 to 48 months.
4. Confirm the loan request.
5. Alternatively, call Axis Bank's 24 Hour Customer Care to avail the loan.

How is the Loan Disbursed?

The loan is disbursed directly into your Axis Bank Savings Account, or through NEFT if you hold your savings account elsewhere.

How is an Axis Credit Card Loan Repaid?

Axis Credit Card loan is repaid through EMIs added directly to your monthly credit card statement, rather than a separate loan account.

• The loan instalment merges into your regular credit card billing cycle.
• No additional repayment schedule to manage outside your usual statement.
• A shorter tenure, closer to 12 months, reduces total interest cost.
• A longer tenure, up to 48 months, keeps your monthly EMI lower.
• Staying current on your regular credit card payments automatically keeps your loan repayment on track.

Axis Instant Loan vs EMI Conversion Compared

Axis Bank also offers EMI conversion on existing purchases, a related but distinct way to manage larger expenses beyond the Instant Loan facility.

What Happens When You Actually Take This Loan?

Take an Axis Bank credit card holder needing ₹2,00,000 for a medical expense.

Since no branch visit or paperwork was involved, the entire process, from checking eligibility to receiving funds, wraps up within the same day.

Conclusion

Axis Credit Card Loan provides the borrower an opportunity to get an immediate loan against his/her card without documentation up to ₹25 lakh with an interest rate of between 9.99% and 21.00%. The eligibility criteria depend solely on the policies of Axis Bank, unlike other banks that have a publicly available checklist. Therefore, the only option is to get a pre-approved rate through the bank.

FAQs

What is an Axis credit card loan?
An unsecured and pre-approved loan provided to the current credit card holder of Axis Bank, enabling them to avail themselves of an instant loan using the same credit card without requiring any new documents.

What is the interest rate on an Axis credit card loan?
It fluctuates from 9.99% to a high of 21.00% per annum based on the creditworthiness of the individual.

How Much Can I Borrow Under an Axis Credit Card Loan?
You can borrow up to ₹25 lakh, with the exact amount depending on your eligibility as assessed by Axis Bank.

Who is eligible for an Axis credit card loan?
Existing Axis Bank credit card holders, with exact eligibility defined by the bank's internal policy guidelines rather than fixed income or document requirements.

Do I need collateral for an Axis credit card loan?
No, an Axis credit card loan is an unsecured loan and does not require any collateral.

How do I apply for an Axis credit card loan?
Check your pre-approved offer through Axis Bank's official channels, select your loan amount and tenure, and confirm the request, or call Axis Bank's 24 Hour Customer Care.

How is the Axis credit card loan amount disbursed?
The amount is disbursed directly into your Axis Bank Savings Account, or through NEFT if you hold your savings account with another bank.

How is an Axis credit card loan repaid?
Axis credit card loan is repaid through EMIs that get added directly to your monthly credit card statement.

What tenure options are available for an Axis credit card loan?
The tenure available for an Axis credit card loan is 12 to 48 months, giving you flexibility between a shorter tenure with lower total interest and a longer tenure with a smaller EMI.

Is documentation required for an Axis credit card loan?
No, since an Axis credit card loan is a pre-approved, unsecured loan facility, no paperwork is required, which speeds up processing considerably.