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Axis Bank Home Loan

Apply Axis Bank Home Loan

Max Tenure

30 yrs

Processing Fee

Rs. 10,000/-*

Best Rate

8.65%

Features

  • Catering to all customer segments i.e. From HIG to LIG, Salaried to Self-Employed, NRIs
  • Home Loans up to Rs.5 crores and an online loan approval in 5 minutes
  • Tailor made products for different customer segments
  • Attractive Rate of Interest & transparency in fee & charges
  • Door Step Service

Pricing

  • Interest rate – 8.65%
  • Processing Fees – 0.5% of loan amount or Rs. 10,000/- (self-employed), starting from Rs. 10,000/- for salaried

Documents Required

  • Application form with photograph
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Utility bill, Ration card, Employers letter, Bank statement, office address proof (self employed)
  • Salaried - Salary slip and bank statement for 3 months, Self employed - Office address proof, Last 2 years IT return attested by CA, bank statement for 6 months
  • Property related documents, Processing fee cheque
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What Is a Home Loan?

Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt either for floating type of interest or fixed interest rate. Home loan provides tax benefits to the borrowers.

An Introduction to Axis Bank Home Loans

Axis Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. Packed with exclusive benefits, Axis Bank Home Loans are tailor made, catering to the needs of various customers. With small EMIs for longer tenure, Axis Bank home loans are much easier to repay when compared to other home loans.

Advantages of Axis Bank Home Loans

  • Attractive interest rates with floating and fixed type based on your preference
  • Low processing fees
  • Less paperwork
  • No prepayment charges in floating interest rate type
  • Easy home loan balance transfer
  • Transparent application process
  • eDGE Loyalty Points

Features of Axis Bank Home Loan

Key Highlights

Eligibility CriteriaSalaried and Self-Employed
Loan TenureUp to 30 years
Loan Amount8.20% – 8.75%
Processing Fees1% of the loan amount
Prepayment ChargesNo prepayment charges for floating interest type

Objective:

Axis Bank home loan aims to help millions of people achieve their dream of owning a house.

Loan Amount:

Minimum of INR 3 Lakhs and maximum limit depends on the combined income

Loan Tenure:

Repayment period depends on your financial situation. You can opt for longer tenure with small EMIs.

Prepayment Charges:

No penalty is levied on prepayment for floating interest type. 2% of the outstanding loan amount is charged as prepayment fee for fixed interest type.

Processing Fees:

Up to 1% of the loan amount subject to minimum of INR 10,000

Interest Type:

Floating and Fixed

Home Loan Transfer:

You can transfer your home loan from other bank to Axis Bank at ease.

eDGE Loyalty Points:

Earn reward points on home loan transactions

Eligibility Criteria:

To avail the home loan from Axis Bank, you need to have the following eligibility criteria.

  • You should be above 21 years of age and 65 or below at the time of loan maturity.
  • Permanent government or reputed companies’ employees

Interest Rates

Following are the home loan interest rates and charges. 

Housing interest rates & charges, are divided into salaried & self-employed individuals.

For salaried individuals

Sr. NoTypeLoan amount (Rs.)MCLR + Mark UpEffective Rate of Interest
1 Floating RateLoan amount up to Rs 30 lacsMCLR + 0.20%8.35% p.a.
Loan amount up to Rs 75 lacsMCLR + 0.50%8.65% p.a.
Loan amount above Rs 75 lacsMCLR + 0.55%8.70% p.a.
Top Up for existing customersUp to 30%- Same rate at which the home loan is running. 30%-100%- LAP rate shall be applicable

For Self Employed

Sr. NoTypeLoan amount (Rs.)MCLR + Mark UpEffective Rate of Interest
1 Floating RateLoan amount up to Rs 30 lacsMCLR + 0.25%8.40% p.a.
Loan amount up to Rs 75 lacsMCLR + 0.55%8.70% p.a.
Loan amount above Rs 75 lacsMCLR + 0.60%8.75% p.a.
Top Up for existing customersUp to 30%- Same rate at which the home loan is running .30%-100%- LAP rate shall be applicable

Features of Axis Bank Asha Home Loan

Objective:

Axis Bank Asha home loan can be used to construct a home or purchase a property that is under construction.

Loan Amount:

Up to 28 Lakhs or 85% value of the property

Loan Tenure:

Repayment period depends on your financial situation. You can opt for longer tenure with small EMIs. Generally, it is up to 30 years.

Prepayment Charges:

No penalty is levied on prepayment for floating interest type. 2% of the outstanding loan amount is charged as prepayment fee for fixed interest type.

Processing Fees:

Up to 1% of the loan amount subject to minimum of INR 10,000

Interest Type:

Floating and Fixed

Home Loan Transfer:

You can transfer your home loan from other bank to Axis Bank at ease.

eDGE Loyalty Points:

Earn reward points on home loan transactions

Eligibility Criteria:

To avail the home loan from Axis Bank, you need to have the following eligibility criteria.

  • You should be above 21 years of age and 65 or below at the time of loan maturity.
  • Minimum combined income of INR 8000 per month

Interest Rates

Floating Rate of InterestMCLR plus Mark-upEffective Interest Rate (p.a)
Salaried customers (Vanilla Variant)MCLR + 1.60%9.75% p.a
Self Employed customers Vanilla Variant)MCLR + 1.80%9.95% p.a
Salaried customers (All other variant)MCLR + 2.35%10.50% p.a.
Self-Employed (All other variant)MCLR + 2.35%10.50% p.a.

Documents Required to Apply for Axis Bank Home Loans

Important documents to be submitted while applying for home loans with Axis Bank

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals
  • Property tax receipt
  • Proof of business address for non-salaried individuals
  • Personal assets and liabilities statement

For guarantor (wherever applicable):

  • Personal Assets and Liabilities Statement
  • 2 passport size photographs
  • Proof of identification as above
  • Proof of residence as above
  • Proof of business address as above
  • ignature identification from his/her present bankers
Axis bank Home Loan
Apply for Axis bank Home Loan

EMI Payment Methods

Your Axis Bank home loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with Axis Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Axis Bank account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.

How to Apply for Axis Bank Home Loan?

You can either apply online or visit a nearby Axis Bank branch for the application. You can also download the home loan application form from the Axis Bank official website, complete the form and submit it the bank representative.

Alternatively you can also check your eligibility for a home loan through dvweek and apply for it.

Summary of Axis Bank Home Loans

With attractive interest rates, the bank caters to the needs of various sections of people. With small EMIs and longer tenure, even the people having low income can benefit from Axis Bank Home Loans. Floating and fixed type of interest rate are available according to the preference of the customers.

Axis Bank Home Loan FAQs

1. What are processing fees on Axis Bank Home Loans?

1% of loan amount is charged as processing fees.

2. Is there penalty for prepaying the Axis Home Loan?

No penalty is levied for prepaying the Axis Bank Home Loan on floating interest rate type and 2% of the loan amount is charged for fixed interest rate type.

3. Can I get Axis Bank Home Loan without a Guarantor?

Axis Bank home loans require a guarantor.

4. What is the maximum loan repayment period for Axis Bank home loans?

The maximum repayment period is 30 years; however, some home loans have lesser repayment duration.

5. How Can I apply for an Axis home loan?

You can either apply online or visit a nearest Axis Bank branch and take the help of the bank’s representative.

6. Does Axis Bank facilitate balance home loan transfer?

Yes, you can transfer your existing home loan to Axis Bank.

7. Can I get tax benefits from Axis Home Loan?

As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to INR 150,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.

Customer Reviews

Overall Rating: 5.0 / 5 (1 Reviews)

14 Feb 2017

"Got Home Loan at low Interest rate I had applied for a home loan through dvweek. I would first of all thank dvweek for helping me get a home loan with such ease. Everybody knows how difficult and confusing it is to get home loans these days. I did not face an issue during the entire process. Axis Bank executives came to my place and collected all the required document to complete the process. I had some issues with my address proof, but got it resolved through dvweek. The whole process was done within two weeks. Kudos to Axis bank for support to their customers, and kudos to dvweek for coming up with such an innovation to help customers in need! It’s awesome"

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