Axis Bank Personal Loan Query

[PayKaroAbhi]

Hello TF members!

I was getting 12-14 calls everyday from Axis Bank Loan department. They said that I've a pre-approved personal loan offer upto 3.4L. I applied it today and after completing the process it's showing that Axis Bank will contact me within 72 hrs. Is it really pre-approved?

I'm holding Axis Prime account, and a 4 years old credit card. It didn't ask for any documents at the time of applying. Will I get this automatically or it's just the beginning of their new drama??

 

[RkrRkr is verified member.]

It sounds like its pre qualified offer...means after your consent and provided details and document, bank will decide whether they will approve your loan or vice versa..

because if its preapproved you have the option to choose loan ammount and tennure and afterthat instant disbursement in account.

 

[PayKaroAbhi]

It sounds like its pre qualified offer...means after your consent and provided details and document, bank will decide whether they will approve your loan or vice versa..

because if its preapproved you have the option to choose loan ammount and tennure and afterthat instant disbursement in account.

Yes I chose the max amount and tenure on my own. and only an OTP was required for giving consent. That's it. I received a SMS where it was written that the application is submitted successfully and they'll contact me within 72 hrs. Now really don't know. They were calling like my girlfriend. Daily 12-14 times.

 

[RkrRkr is verified member.]

An

Yes I chose the max amount and tenure on my own. and only an OTP was required for giving consent. That's it. I received a SMS where it was written that the application is submitted successfully and they'll contact me within 72 hrs. Now really don't know. They were calling like my girlfriend. Daily 12-14 times.

What they are asking on phone call ?
Have you applied through Axis app or somewhere else ?

 

[akshayhs]

Hello TF members!

I was getting 12-14 calls everyday from Axis Bank Loan department. They said that I've a pre-approved personal loan offer upto 3.4L. I applied it today and after completing the process it's showing that Axis Bank will contact me within 72 hrs. Is it really pre-approved?

I'm holding Axis Prime account, and a 4 years old credit card. It didn't ask for any documents at the time of applying. Will I get this automatically or it's just the beginning of their new drama??

Pre-approved offers result in immediate disbursal of funds. It looks like a pre-qualified offer where two-factor checks may happen.

 

[PayKaroAbhi]

An

What they are asking on phone call ?
Have you applied through Axis app or somewhere else ?

I applied it through the Axis App only. It was showing 'Get an instant disbursal upto 3.4L'. no documentation, no paperworks.

 

[PayKaroAbhi]

Pre-approved offers result in immediate disbursal of funds. It looks like a pre-qualified offer where two-factor checks may happen.

Two factor checks like?

 

[akshayhs]

Two factor checks like?

First factor was OTP.
Second is for income documents and KYC I guess. In my case Kotak didn't ask me anything and the amount was immediately disbursed.

 

[RkrRkr is verified member.]

Two factor checks like?

Mannual human intervention to process the application despite digital submission


In preapproved offer ..Digital disbursement by AI system itself...

 

[PayKaroAbhi]

Mannual human intervention to process the application despite digital submission


In preapproved offer ..Digital disbursement by AI system itself...

Do I have the option to cancel it in case of that ? Don't want to go through the documentation process and all.. I was interested only because it was pre-approved.

 

[PayKaroAbhi]

First factor was OTP.
Second is for income documents and KYC I guess. In my case Kotak didn't ask me anything and the amount was immediately disbursed.

Don't know how I forgot that it's Axis 🙃

 

[RkrRkr is verified member.]

Do I have the option to cancel it in case of that ? Don't want to go through the documentation process and all.. I was interested only because it was pre-approved.

Just dont submit/give documents...it will be treated as cancelled after some time automatically...

 

[romilq]

Can you tell what was the ROI ?

 

[PayKaroAbhi]

Can you tell what was the ROI ?

12.49%

 

[jivesh]

Hello TF members!

I was getting 12-14 calls everyday from Axis Bank Loan department. They said that I've a pre-approved personal loan offer upto 3.4L. I applied it today and after completing the process it's showing that Axis Bank will contact me within 72 hrs. Is it really pre-approved?

I'm holding Axis Prime account, and a 4 years old credit card. It didn't ask for any documents at the time of applying. Will I get this automatically or it's just the beginning of their new drama??

bhai pre approved loan me axis bank to 1 sec me account me loan amount credit kar deta ha. 7 lakh ka loan 11% me mila ha mujhe. han par axis se koe call nahi aaya. axis WhatsApp par msg bhej raha ha pre approved loan ka.

 

[PayKaroAbhi]

bhai pre approved loan me axis bank to 1 sec me account me loan amount credit kar deta ha. 7 lakh ka loan 11% me mila ha mujhe. han par axis se koe call nahi aaya. axis WhatsApp par msg bhej raha ha pre approved loan ka.

Bhai mere saath scam ho gya kya..🙄 instant disbursal,no paperworks dekhke hi apply kia then inka drama suruu!

 

[4uziaul]

Bhai mere saath scam ho gya kya..🙄 instant disbursal,no paperworks dekhke hi apply kia then inka drama suruu!

Why would it be a scam? Are you receiving messages from Axis Bank directly, or are they from a third party?

 

[PayKaroAbhi]

Why would it be a scam? Are you receiving messages from Axis Bank directly, or are they from a third party?

Rejected bro, btw it was from Axis Bank itself, not from third party