Table of Contents
- What is Part Payment?
- Can I make part payment For Axis Bank Personal Loan?
- How to Make Prepayment For Axis Bank Personal Loan?
- Can I Make A Partial Payment To My Personal Loan?
- How To Avoid Prepayment Charges On Axis Bank Personal Loan?
- Conclusion
What is Part Payment?
Part payment is a facility that is used to make an early repayment of a loan. It allows the borrower to reduce the loan amount without having to close the loan. Part payment is also called prepayment and it is a great way to reduce the loan liability. The borrower can make part payment using cash, cheque or online transfer. The part payment can be made either in full or in installments.
Can I make part payment For Axis Bank Personal Loan?
Yes, you can make part payment for Axis Bank Personal Loan. You can make part payment for your loan amount to reduce your loan liability. Axis Bank allows you to make part payment for your Personal Loan.
How to Make Prepayment For Axis Bank Personal Loan?
How Can I Make A Prepayment?
You can make prepayment for your Axis Bank Personal Loan in the following ways:
- Cash or cheque payment
- Online payment
If you want to make prepayment using cash or cheque, you can visit the nearest Axis Bank Branch and make the payment.
How Can I Pay My Part Payment in Axis Bank Online?
You can make part payment for your Axis Bank Personal Loan online. You can make the payment using your Credit Card or Debit Card.
To make the payment, you need to login to the Axis Bank Mobile App or visit the Axis Bank website. Then, click on “Payments” and select “Prepayment”. Enter the loan amount, select payment mode and click on “Proceed”.
Can I Make A Partial Payment To My Personal Loan?
Yes, you can make a partial payment to your Personal Loan. The minimum amount that you need to pay is ₹500. You can make part payment online using your Credit Card or Debit Card.
How To Avoid Prepayment Charges On Axis Bank Personal Loan?
You should avoid making prepayment charges on your Axis Bank Personal Loan. Prepayment charges are usually levied when you make a part payment for your loan. Therefore, you should check the terms and conditions of your loan before making any prepayment.
Conclusion
Part payment or prepayment is a great way to reduce your loan liability. Axis Bank allows you to make part payment for your Personal Loan either in full or in installments. You can make the payment using cash, cheque or online transfer. You should avoid making prepayment charges on your Axis Bank Personal Loan.