Axis Bank Home Loan Eligibility Calculator
|Eligibility Criteria||Axis Bank Home Loan|
|Eligible Age of Borrower||21 – 60 Years|
|Work Experience for Salaried||Minimum 2 Years|
|Work Experience for Self-employed||Minimum 5 Years|
|Processing Fee||Up to 1% of loan amount (Min. Rs. 10,000)|
|Loan Amount Eligibility||Max. depends on combined income|
|Tenure||Upto 30 Years|
|Interest Rate||7.75% Onwards|
|Pre-payment Charges||Nil on floating, Upto 2% for fixed on principal outstanding|
Note: The facts and figures provided above are illustrative and subject to periodic change.
Axis Bank provides home loans at competitive interest rates under different options in order to fulfill various home related requirements of its customers. Axis Bank offers a wide variety of home loan schemes which can be summarized under the broad category of home loan provided by Axis Bank that includes Axis Bank Home Loan, Asha Home Loan, Fast Forward Home Loan, Shubh Aarambh Home Loan, Empower Home Loan, Super Saver Home Loan, and Top-up Home Loan.
Let’s get familiar with Axis Bank home loan eligibility and related aspects while understanding the importance of using home loan EMI calculator before applying for Home Loan with Axis Bank.
Below mentioned are the eligibility criteria for the Axis Bank Home Loan:
Axis Home Loan Eligibility Criteria for Salaried Applicant
- The applicant must have been permanently employed for minimum 2 years with recognized and renowned private or Government organizations.
- The applicant needs to be 21 years or above at the time of loan approval. In addition, the maximum age of the applicant by which the superannuation of the Axis housing loan must occur is 60 years. However, the home loan from Axis bank may end before the applicant reaches the age specified as well.
Axis Bank Home Loan Eligibility for Self-Employed Professionals
- Self-employed professionals, including chartered accountants, doctors, dentists, engineers, architects, management consultants, company secretaries and cost accountants are also eligible to apply for Axis bank home loans.
- Self-employed professionals must be at least 21 years old while applying for the home loan. However, they cannot exceed 65 years by the time of loan maturity.
Eligibility Criteria Specific to Self-Employed Applicants
- Any self-employed individual who has regularly submitted his/her income tax returns can apply for the Home Loan with Axis Bank.
- The maximum age of applicant at the time of home loan maturity is 65 years. While, the minimum age of eligibility for home loan application with Axis bank is 21 years.
Axis bank Home Loan Eligibility on the Basis of Income
For Example: Applicants salary is Rs. 35,000 and the value of house he wants to buy is Rs. 50 lakh, then at interest rate of 7.75% offered by Axis Bank, the loan amount that the borrower will be eligible for would be upto Rs. 45 Lakh as Banks may provide 90% of the property value. But the final amount will depend on the many factors like your age, other EMIs, You buying individually or jointly etc. etc. So, majorly home loan eligibility depend on the Income, but to know the exact amount one is eligible for he/she must check with the bank.
Eligibility Calculator and its Importance
The Home Loan Eligibility calculator helps you to understand your home loan eligibility depending on your income and repayment capacity. Your age, credit history, credit score, financial position, creditworthiness and other financial liabilities, are also affects your home loan eligibility.
On the basis of your requirements that include loan tenure, loan amount and interest rates, Home Loan EMI calculator provides you an estimate of your home loan EMIs. At paisabazaar.com, you can check your home loan eligibility free of cost and also can check and compare best available home loan deals from almost all the leading lenders.
Documents Required for Salaried Professionals
- Proof of Identity: PAN Card, driving license, Voter’s ID card, valid passport, and photographs.
- Proof of Residence: Latest telephone bill, electricity bill, utility bill, valid passport, driving license and Voter’s ID card.
- Income Proof: Latest 3 months’ salary slips, Form 16, Last 6 months’ bank statement and passbook of the salary account.
Check Also: Checklist of home loan documents required
Documents Required for Self-Employed
All the documents mentioned for the salaried people remains the same for self-employed. The Proof of Income which signifies:
- Last two years’ Income Tax return certified by Chartered Accountant.
- Last 6 months’ bank statement applicable for both personal and business purposes.