How much CIBIL score required for personal loan in Axis Bank 2024

How much CIBIL score required for personal loan in Axis Bank – Axis Bank Limited is India’s third largest private sector bank headquartered in Mumbai, Maharashtra. Axis Bank offers a full range of financial services to its customers.

A customer can apply for an instant personal loan of up to Rs 40 lakh at a rate of 10.99%, with flexible tenure, and no collateral.

But to get a personal loan from Axis Bank, one has to fulfill the eligibility criteria, and the important criterion is the CIBIL score.

CIBIL score is a three-digit numerical summary of your credit history. This score ranges from 300 to 900. which means, a higher score indicates better creditworthiness.

How much CIBIL score required for personal loan in Axis Bank

To avail of an instant personal loan from Axis Bank, the applicant needs to have a minimum CIBIL score of 750 or more. This maximizes the chances of loan approval and favorable terms. A CIBIL score of 750 and more is generally considered good by Axis Bank and indicates to the bank that the borrower is low-risk and has responsible credit behavior.

Applicants with a CIBIL score below 750 or above 600 can also apply for a personal loan from Axis Bank. However, applicants in this category may be viewed as medium-risk borrowers by Axis Bank.

It is difficult for an applicant with a CIBIL score below 600 to get a personal loan from Axis Bank, as it indicates that the applicant is a high-risk borrower. Hence, the loan approval for such a borrower is very low. Applicants with scores in this range are usually advised to improve their credit score before applying for a loan.

Important links – Axis Bank Personal Loan Apply

Axis Bank Personal Loan Eligibility Criteria/Other Factors

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

Proof of Identity: PAN card, Aadhaar card, passport, voter ID, or driving license.

Proof of Address: Utility bills, rental agreement, passport, or Aadhaar card.

Income Proof:

  • Salaried: Latest salary slips, Form 16, and bank statements.
  • Self-Employed: Income Tax Returns, and bank statements.

Proof of Employment/Business Continuity:

  • Salaried: Employment certificate or appointment letter.
  • Self-Employed: Business registration certificate, trade license, or professional degree certificate.

Photographs: Recent passport-sized photograph.

Conclusion – CIBIL score for Axis Bank 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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