Weddings are a milestone in one’s life and to make it the best day of your life, you need to spend more. And if there has been a shortage of money to meet wedding expenses, fill the gap with Axis Bank Personal Loan. The bank allows you a maximum of INR 15 Lakh to borrow. Using this amount you can cover the remaining cost of the wedding and pay this borrowed amount in equated monthly instalments. So, with such ease, you can enjoy the wedding experiences to the fullest. With its Axis Bank Personal Loan Calculator, you can easily manage money for your wedding. Check out this article for more information on this online tool of Axis Bank.
Tools from the Axis Bank
When you’re applying for an Axis Bank Personal Loan, you can see various calculators on the bank’s page. Well, these tools are there to help you. Using them you can plan your repayment, know your loan limit, etc.
Let’s learn about each of the Axis Bank Personal Loan Calculators one after another.
EMI Calculator
The calculator generates an EMI amount for your loan. Using this you get the idea of coming repayment, so you can plan them to avoid non-payment issues. To learn more about this, check out the example below.
Rohan’s wedding is in about two weeks, but the lack of money is deterring all the preparations. So, he decides to borrow a loan for the same. After going through several searches, he came across Axis Bank where he got an offer of INR 3 Lakh at an interest rate of 16.00% per annum. He hasn’t decided on the tenure, so he uses the Axis Bank Personal Loan Calculator.
After inserting his loan details and selecting a tenure of 24 months, he gets an EMI of INR 14,689. Well, the EMI is easy to manage for Rohan, so he applied for the loan to meet his wedding expenses.
Eligibility Calculator
This is an Axis Bank Personal Loan Calculator that helps you find the amount you’re eligible for. To find out the loan amount, you need to insert details like income, ongoing EMIs (if any), and date of birth. When you insert these details, the calculator will generate the amount. This way, you can find whether an Axis Bank Personal Loan helps you in the wedding preparation process.
With the example below, you’ll know the calculator working better.
Samar is getting married in two months and he doesn’t have any savings to prepare for the wedding. As per his calculation, he needs at least INR 6 Lakh to plan the wedding. His friend suggested that he borrow a personal loan. At first, he was worried about the interest payout, but he came across Axis Bank where he saw the interest rate starts from 12.00% per annum.
So, he checked his loan amount using the Axis Bank Loan Calculator. According to the calculations, he can borrow up to INR 9 Lakh from the bank. Well, this amount is offered to him based on his income, no current obligations, etc.
Note – The actual loan amount may differ from that of the calculator result as the bank considers other factors like a credit score to compute the applicant’s eligibility. And getting a loan amount using the calculator doesn’t mean you’re approved for the loan. There are several steps that you need to take to get the loan amount for your wedding.
What to do When I Get an Axis Bank Personal Loan?
Get the money you need, plan your wedding and repay the sum later in equated monthly installments. This way, you won’t feel the burden of the payment.
Also Read: To Whom SBI Pre Approved Personal Loan is Provided
