Frequently Asked Questions
What is a Personal Loan?
Personal loan is direct cash transfer into your savings account. Personal loan can be used to fund any expenses including marriage, education, home renovation, travel, medical needs, managing day to day expenses etc.
What are the steps to avail Personal Loan?
We are offering a fully digital journey for you to apply for Personal Loan.
You just need to enter your PAN & DOB
Setup auto repayment - Keep your account details like account number, net banking or debit card details handy.
Set-up KYC (Aadhaar number and PAN card will be required)
And you're done..... Loan if approved will be credited in you bank account post successful completion of KYC
Where can I use the Personal Loan?
Personal loan is direct cash transfer into your savings account. Personal loan shall be used to fund any expense including marriage, education, home renovation, travel, medical needs, manage day to day expenses etc.
How can I calculate the EMI for Personal Loan?
Approval Amount, Rate of Interest, Loan Tenure and EMI amount will be displayed during the loan journey.
What is the minimum and maximum amount for Personal Loan?
You can get a Personal Loan from Rs. 50,000 to Rs. 10,00,000. Some of the factors considered by the banking partner when deciding a loan amount are:
- Your existing relationship with the banking partner
- Your requirement and eligibility
- Your income
- Your repayment capacity
How much time does it take for Personal loan to be disbursed?
Post successful Video KYC, the loan will be disbursed to your bank account within 12 hours
Is there any collateral/security to be provided for availing Personal Loan?
No, you don’t have to provide any security/ collateral to avail Personal loan.
What are the interest rates & charges of Personal loan?
Personal Loan interest rates are very competitive. The offer is generated basis individual customer profile
What is the tenure for which I can avail a Personal Loan ?
We offer you a flexible tenure ranging from 6 to 60 months.
What are the eligibility criteria for a Personal loan?
Your Personal loan eligibility from banking partner depends on various factors, including a fixed income, age, nature of employment, CIBIL score, professional experience, etc
Minimum eligibility of for salaried individuals
• Borrower should be an Indian National
• Age – 21 to 55 Years at the time of loan maturity
• Minimum Monthly Income - Rs. 20,000
I did not get any OTP via SMS for the Aadhaar confirmation, what should I do?
Your mobile number should be seeded with Aadhar in order for you to receive OTP. You can try again after some time. If your mobile no is not registered with Aadhar then request you to get the same done.
Why is my PAN card number not getting accepted?
Please enter the correct and valid PAN Number as per your PAN card.
What is E-NACH? For how long is my E-NACH valid?
E-NACH stands for Electronic National Automated Clearing House. This enables recurring payments made towards Financial Institutions like NBFCs/Banks from customers towards repayments. The amount gets withdrawn for months depending on the EMI repayment tenure selected.
Can I change the repayment date of my Personal loan?
EMI repayment date cannot be changed for Personal Loan.
What do I do when my bank is not appearing in the list of banks for E-NACH?
E-NACH is mandatory for completing the loan process. In case your bank is not listed, request to have an alternate bank account from the available options only.
How do I keep track of my Flipkart Personal Loan powered by Axis Bank?
You can reach on the following details:
Axis Bank Call Axis Bank at: 1860-419-5555 / 1860-500-5555 (Local charges applicable)
OR
click: https://www.axisbank.com/contact-us?
Write to us at: https://www.axisbank.com/support
You can reach out to Flipkart on “Help Centre” within “My Accounts” section on the Flipkart App
What are Minimum and maximum periods for repayment?
The repayment tenure of the product can range from 6-36 months for non Axis Bank customers and 12-60 months for Existing Axis Bank customers.
What is Maximum Annual Percentage Rate (APR)?
APR generally includes interest rate plus fees and other costs for a year, or similar other rate calculated consistently with local law. This depends on the maximum loan amount , maximum tenure, rate of interest and all the charges against the loan amount.
Below is a representative example of the total cost of the loan, including the principal and all applicable fees.
Loan Amount |
2,00,000 |
|---|---|
ROI |
13.90% |
Tenure (Months) |
24 |
EMI |
9593 |
Processing Fee |
2.00% |
GST |
18.00 % |
Processing Fee (including GST) |
4,720 |
Stamp Duty |
20 |
Net Disbursal Amount |
1,95,260 |
Personal Loan on Flipkart is powered by which lender?
Axis Bank Ltd is the lending partner for Personal Loan on Flipkart
Who do I contact for any grievance redressal?
FAPL Grievance Redressal Details
Name: Mr. Shremanth M
Designation: Senior Manager
Address: Flipkart Internet Pvt Ltd Block B (Begonia), 8th Floor Embassy Tech Village, Outer Ring Road, Devarabeesanahalli Village, Varthur Hobli, Bengaluru East Taluk Bengaluru District, Karnataka: 560103, India
Contact us:
Email: grievances@flipkartadvanz.com
Phone: 044-45614700
Time: Mon-Sat (9:00-18:00)
Axis Bank Grievance Redressal Details
Level 1: Front End Channels
Personal loan customers can connect to the bank through calls, email or by visiting branch / loan centres. Axis bank has set a maximum 10 days response time period and if the concerned customer is dissatisfied with the response received, he / she can escalate the complaint to Level 2.
- Call Centre numbers: 1860-419-5555, 1860-500-5555
- Email: email.services@axisbank.com
- Axis Support: Click here https://application.axisbank.co.in/webforms/axis-support/index.aspx
- Branches/Loan Centres: Customers can visit the “Locate Us” section of the website (www.axisbank.com) to get the details of the nearest branch or loan centre)
Level 2: Circle Nodal Officer/Nodal Officer at HO
The concerned customer can communicate with Nodal officers of the bank if he/she is not satisfied with the solution provided at Level 1. The bank claims to reply within 10 days and if the response received is unsatisfactory, he/she can escalate the matter to Level 3.
The customer can send an email/write a letter/call the Nodal Officer:
Write |
Call |
|
|---|---|---|
Name: Mr. Ashok Sunar Designation: Asst Vice President Address: Axis Bank Limited, NPC1, 5th Floor, Gigaplex, Plot No I.T.5, MIDC, Airoli Knowledge Park, Airoli, Navi Mumbai - 400708 |
Ph. 080-61865200 Timings: 9.30 am to 5.30 pm Monday to Saturday (except 2nd and 4th Saturdays and bank holidays) |
Level 3: Principal Nodal Officer
If the concerned customer still feels dissatisfied with the solution provided at Level 2, he/she can connect with the bank’s Principal Nodal Officer using the below-mentioned channels.
Write |
Call |
|
|---|---|---|
Name: Mr. Parag Deshpande Designation: Senior Vice President - II Address: Axis Bank Limited, NPC1, 5th Floor, Gigaplex, Plot No I.T.5, MIDC, Airoli Knowledge Park, Airoli, Navi Mumbai - 400708 |
Contact no: 08061865098 Timings: 9:30 am to 5:30 pm Monday to Saturday |
"If your query/complaint is not addressed/resolved within 30 days, you can lodge a complaint over the Complaint Management System (CMS)4 portal under the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS)5."
Who can I reach out for any other queries?
You can reach on the following details:
Axis Bank Call Axis Bank at: 1860-419-5555 / 1860-500-5555 (Local charges applicable)
OR
click: https://www.axisbank.com/contact-us?
Write to us at: https://www.axisbank.com/support
You can reach out to Flipkart on “Help Centre” within “My Accounts” section on the Flipkart App