Hello,

Guest!

Axis Bank Personal Loan Preclosure

If you have availed of a personal loan from Axis Bank, you have the option to prepay the loan whenever you wish to. You have to pay foreclosure charges for Axis Bank personal loan preclosure. You can close your loan account by paying the balance amount as calculated by the bank. You will have to contact the Axis Bank personal loan customer care to know about and initiate the Axis Bank loan closure process.

Updated:

Axis Bank Personal Loan Preclosure Charges

Below are the Axis Bank personal loan foreclosure charges as per the tenure when you close the loan:

  • Foreclosure between 0 to 12 months: 5%
  • Foreclosure between 13 to 24 months: 4%
  • Foreclosure between 25 to 36 months: 3%
  • Foreclosure after 36 months: 2%

GST as applicable will be charged extra on the Axis Bank personal loan preclosure charges mentioned above.
The Axis personal loan part payment charges are the same as foreclosure charges.

Also, know about the Axis Bank Balance Check Number service.

Documents Required to Pre-close Axis Bank Personal Loan

Whether you opt for Axis Bank personal loan foreclosure online or offline, you will need to submit the following documents:

  • Axis Bank closure form
  • Preclosure statement
  • Cheque book 
  • A photo ID, like Driving License, Passport, Voter’s ID, or PAN Card. 

Process of Preclosure Axis Bank Personal Loan

If you are wondering how to foreclose Axis Bank personal loan, here is the complete process. The facility of Axis Bank personal loan prepayment online is not available currently. You will have to follow the offline process as mentioned below: 

  • Locate the nearest branch of Axis Bank Loan Centre. You can use the ‘Loan centre Locator’ available on the official website of the bank for this purpose.
  • Visit the loan centre Axis Bank loan repayment.
  • Request for an Axis Bank loan repayment schedule or personal loan preclosure statement to know the exact outstanding amount you have to pay.
  • When you get the foreclosure statement, pay off the outstanding amount through cash or cheque as per your convenience.
  • After you clear all the outstanding dues, you have to submit the Axis Bank personal loan closure request at the concerned loan centre of the bank.
  • If the foreclosure request is not processed within 15 days from placing the request, you can follow up with the bank to know the status of Axis Bank personal loan foreclosure .

Navi Personal Loan @9.99% p.a

Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

Axis Bank Personal Loan Preclosure FAQs

When can I pre close my Axis Bank personal loan?

image

You can opt for Axis Bank personal loan repayment whenever you wish to by paying the stipulated Axis Bank foreclosure charges.

What are pre closure charges for personal loans?

image

Axis Bank personal loan pre closing charges range from 2% to 5% of the outstanding loan amount, depending on the tenure within which you pre-close the loan account.

Can we pay part of the Axis Bank personal loan?

image

Yes, you can opt for Axis Bank personal loan part payment. The charges for part prepayment are the same as foreclosure charges.

Can we close personal loans online for Axis Bank?

image

If you are wondering how to close Axis Bank loan account online, the answer is “this facility is not available”.  You cannot complete the process of Axis Bank loan foreclosure online. Also, Axis personal loan part payment online is not available. You will have to visit the Axis Bank loan centre to close or part prepay your loan.

Is it a good idea if we pre-close our Axis Bank personal loan?

image

Yes, it is financially beneficial to make Axis Bank personal loan payment before the loan matures. You can use the Axis Bank personal loan preclosure calculator available online to know how much you can save on prepayment. If you are satisfied, you can opt for account closure Axis Bank by visiting the nearest loan centre of the bank. The facility of Axis Bank loan closure online is not available. If you are wondering how to close Axis Bank personal loan, you can check the foreclosure process in the above sections.

Can I close my personal loan account before 1 year?

image

If you are wondering can we close personal loan before 1 year, the answer is “YES”. You can close your Axis Bank personal loan account anytime you wish to.