Do you want to apply for a personal loan from Axis Bank, but don’t know How much CIBIL score required for personal loan in Axis Bank?
Axis Bank Ltd. is India’s third largest private sector bank headquartered in Mumbai, Maharashtra. It offers a full range of financial services to its customers.
Eligible customers can apply for an instant personal loan of up to Rs 40 lakh at affordable interest rates without any collateral from this bank.
The important eligibility criteria are the minimum CIBIL score for personal loan in axis bank.
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How much CIBIL score is good for personal loan?
No lender specifies a minimum or maximum CIBIL score requirement for personal loan applications. However, most lenders prefer a score of 750 and above for loan applications.
This score indicates the borrower’s creditworthiness and is considered a good CIBIL score by lenders for personal loans.
How much CIBIL score required for personal loan in Axis Bank
To apply for a personal loan from Axis Bank, the applicant must have a minimum CIBIL score of 750 or above. This score maximizes the chances of Axis Bank personal loan approval and favorable terms.
A borrower with a CIBIL score of 750 or above is generally considered good by Axis Bank, as the applicant is a low-risk borrower for them and has responsible credit behavior.
However, applicants with a score of around 600 can also apply for a personal loan from Axis Bank. Applicants in this category may be viewed as medium-risk borrowers by Axis Bank.
However, it is difficult for an applicant with a CIBIL score of less than 600 to get a personal loan from Axis Bank, as the borrower is a high-risk person. The personal loan approval for such a borrower is very low from Axis Bank.
Quick links – Axis Bank Personal Loan Apply
Axis Bank Personal Loan Eligibility Criteria:
To be eligible for a personal loan from Axis Bank along with the minimum CIBIL score, applicants must fulfill specific eligibility criteria related to age, income, employment, and credit score. Here are the detailed eligibility criteria for Axis Bank personal loan:
- The applicant must be a resident of India.
- Minimum age of 21 years and a maximum age of 65 years.
- Must be Salaried, Self-Employed, or Self-Employed Non-Professionals.
- Minimum work experience of 2 years.
- Minimum monthly net income should generally be ₹15,000.
- A minimum CIBIL score of 750 is preferred.
Document for Axis Bank Personal Loan:
Here is the list of documents required for an Axis Bank personal loan:
- PAN card
- Aadhaar card
- Voter ID
- Utility bills
- Bank statements
- Proof of Employment/Business
- Recent Photographs
Conclusion – Axis Bank CIBIL score for personal loan
Axis Bank prefers a CIBIL score of 750 or more for instant personal loan approval. Moreover, borrowers with a higher CIBIL score are more likely to get access to better loan terms. We hope you got the information (How much CIBIL score required for personal loan in Axis Bank). Give your opinion in the comment section below.
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