How to Close an Axis Bank Personal Loan Online

Step 1: Log In to Your Axis Bank Account To begin the process, visit the official Axis Bank website and log in to your account using your credentials. If you haven’t registered for online banking, you’ll need to do so by following the bank’s registration process.

Step 2: Navigate to the Loan Section Once logged in, locate the section dedicated to loans. This is usually found under the ‘Loans’ tab or a similar menu. Click on this section to view details of your active personal loan.

Step 3: Select the Loan to be Closed In the loan section, select the personal loan you wish to close. You will see an option to view details of the loan, including the outstanding balance, interest rates, and repayment history.

Step 4: Request Loan Closure Look for an option labeled ‘Close Loan’ or ‘Prepay Loan’. Clicking on this option will initiate the loan closure process. You may be asked to confirm your decision and provide additional details if necessary.

Step 5: Review Outstanding Amount The system will display the outstanding amount on your loan, including any prepayment penalties or charges. Review this information carefully to ensure that you are aware of the total amount required to close the loan.

Step 6: Make the Payment Proceed to make the payment for the outstanding amount. You can typically do this through your bank account using an online transfer, net banking, or any other payment method supported by Axis Bank.

Step 7: Confirm Payment and Closure After making the payment, confirm the transaction and check for a confirmation message or receipt. This will indicate that your payment has been processed and the loan is officially closed.

Step 8: Obtain a No Dues Certificate After the loan closure, you should request a No Dues Certificate from Axis Bank. This certificate serves as proof that you have repaid the loan in full and there are no outstanding dues. It is a crucial document for your financial records.

Step 9: Check Loan Closure Status Monitor your Axis Bank account to ensure that the loan closure status is updated. You may also receive an email or SMS confirmation regarding the closure of your loan.

Additional Tips:

• Clear Any Outstanding Dues: Ensure that all dues, including any prepayment penalties or fees, are cleared to avoid any issues with the loan closure.
• Contact Customer Support: If you encounter any issues or have questions, contact Axis Bank’s customer support for assistance. They can provide guidance and help resolve any problems you might face during the loan closure process.

By following these steps, you can efficiently close your Axis Bank personal loan online without having to visit a branch. This process not only saves time but also ensures that your loan closure is handled smoothly and accurately.