When it comes to availing a personal loan, it would not be wrong to say that there are plenty of lenders available in the marketplace. And, with many options comes the confusion of selecting the best lender. But not anymore as Axis Bank personal loan is here to cater all your needs. Yes, this renowned and reputed lender with its exclusive range of financial products and services ensures to fulfill all your needs in the best way.
This is the reason that why most of the borrowers prefer to avail this unsecured credit facility from this lender. But before you decide to avail a loan, it is important that you should know the key parameters of the same. And, in order to let you know the same, today we are going to talk about the two most important factors such as Interest Rates and Credit Score that play a significant role in your overall loan journey. So, without wasting any time further, let’s just come to the point straight and let you know those factors in the article below…
Personal Loan Interest Rates: Before we start discussing another factor, it would not be wrong to say that interest rates come directly into the picture. And, why not because they play such an influential role in an individual’s financial journey that can either make or break the situation for you. Talking about Axis, currently, this lender is offering the credit at a rate that ranges between 15.50%-24% per annum just to ensure that you can enjoy the pocket-friendly EMIs and Interest Outgo.
Moreover, with lowest personal loan interest rates, you can have the privilege to enjoy the affordable monthly installments and the smaller EMIs you have, the easier it is for you to repay the loan in the future. However, most of the borrowers neglect this factor while availing the credit and they just pay attention to the current repayment capacity while ignoring the future possibilities of loan repayment. Here, a personal loan EMI Calculator comes into the picture allowing you to know the exact and accurate calculations of your EMIs in just a few seconds. With the help of using this device, it would be easy for you to know whether you can afford to repay the loan in the future or not.
Credit Score: This three-digit numeric summary is no doubt one such critical aspect that can work in your favour, allowing you to grab the best deal. Before offering the Axis Bank personal loan online to the borrowers, the first and foremost thing which most of the lenders do is to check the score. On maintaining a score of 700/750 out of 900 is considered to be good enough in availing the best deal as most of the lenders prefer the same. This three-digit numeric summary of yours has always been on a radar and lenders always keep an eye on the same, thus then decide whether to give away the loan or not.