Pre closure means that a customer wants to close the entire principal outstanding amount at one go. Whereas part payment means that a customer wants to repay only a certain portion of the outstanding amount. Please ask our advisor for more details on this when you loan is being processed.

Generally, the minimum amount loan amount is Rs 50,000 and maximum amount is Rs 30,00,000. Higher loan amounts are dependent on a personal discussion that a bank may want to have with the borrower and then take a call on the loan amount.

The bank will levy certain ECS bounce charges/penalties. In addition it will get reported in your credit report. Depending on the severity of the default it can have serious impact on your future credit possibilities like a home loan, car loan etc. In addition, the banks can also take legal action against the borrower.

The EMI can be paid through various modes: Post dated cheques: You can submit post dated cheques by your due date of the EMI at the nearest Axis bank loan centers. Electronic Clearing Service: By this option, non Axis bank account holders can pay their EMIs automatically at the end of the month. Standing Instruction: If you have a savings, salary, or current account with AXIS Bank then your EMI can be automatically deducted from your account at the end of your monthly cycle.

Yes you can foreclose your loan by clearing all the dues. Charges are applicable.

Loan amount x Interest/12) x [(1+ interest rate/12)^loan tenure in number of months] / ([(1+ interest rate/12) ^ loan tenure in number of months]-1