Axis Bank which is the third largest private sector bank in India provides home loans at attractive interest rates and offers a variety of housing loan schemes that the borrowers can choose according to their needs and requirements. The home loan process at Axis bank is fast and hassle-free by which the borrowers are not made to wait long for availing the home loan. However, the home loan eligibility criteria should met prior to applying for loan.
Axis Bank Home Loan EMI Calculator
You can easily Calculate Home Loan EMI online at our website by providing loan related details, such as loan amount to be availed, tenure for which you are going to avail the loan and the interest rate applicable to it. With the Axis Bank home loan calculator on paisabazaar.com, you can also check the different EMIs by inputting different repayment tenure.
Axis Bank Home Loan Interest Rates
|Axis Bank Home Loan Interest Rate 2020|
|Loan amount upto Rs. 30 Lakhs||8.90% onwards||8.95% onwards|
|Loan amount upto Rs. 75 Lakhs||9.05% onwards||9.10% onwards|
|Loan amount above Rs. 75 Lakhs||9.10% onwards||9.15% onwards|
- For salaried borrowers- The interest rate for the loans up to 30 lakhs is 8.90% per annum under the floating rate of interest and for the loans upto 75 lakhs, it is 9.05% per annum interest rate above 75 lakhs is 9.10% onwards.
- For Self-Employed borrowers- The interest rate for the loans up to 30 lakhs is 8.95% per annum under the floating rate of interest and for the loans upto 75 lakhs, it is 9.10% p.a. Interest rate above 75 lakhs is 9.15% onwards.
- Fixed rate of interest- The interest rate for these variant of loans is 12% per annum.
Axis Bank Home Loan Amount
The Home loan department of the Axis Bank provides different types of loans for different types of borrowers. Everyone’s need and capabilities are different so the homes loans are designed to match the requirement of every kind of borrowers. The minimum home loan amount for the Indian residents is Rs. 300000 but the maximum amount of the loan depends on the combined income of the borrower and co-applicant. It is the combined income and the repayment ability of the borrower/s which is analysed for the maximum amount of loan which can be provided to him or her. The borrowers can avail up to 90% of the property value as loan amount which is also known as Loan-To-Value (LTV) ratio.
Axis Bank Home Loan Eligibility Criteria
There are some definite criteria which the borrowers of home loan at Axis bank needs to meet to avail the loan amount. The criteria may vary from one kind of loan to another but the basics are almost same. The major criteria which every borrower needs to meet to avail the home loans are below –
- Age:For every borrower, the minimum age to purchase a home loan from Axis bank is 21 The maximum age varies according to the profession of the borrower. If he or she is a salaried person then the limiting age is 60 years. If he or she is a professional or self-employed then the maximum age to borrow a home loan is 65 years.
- Domiciliary Status:At Axis Banks, the NRIs can also avail loan as there is a special kind of loan for their requirement. It is specifically designed for the NRIs whereas all other types of home loan are for the residents of India.
- Occupation:At Axis bank, anyone who is either self-employed or professional or salaried can avail the home loan depending on the combined income.
- Income or Earnings:It is the criterion which is different for different types of loan and also depends on other factors. But this is the most important criterion to determine to limit the loan amount. So, accessing and analysing the income and the earnings of the borrower is one of the most important tasks while availing the loan.
Axis Bank Home Loan Eligibility Calculator
You can easily check whether you are eligible or not for availing the Axis Bank home loan on our site by using calculate home loan eligibility tool. Axis home loan eligibility calculator is specifically designed for letting you understand the eligibility criteria and whether you meet them or not. All you need to do is inputting the right information on the following columns –
- Mobile Number
- Email address
- Details of the Bank Account
- Monthly Income (Gross)
- City of Residence
- Residential Status
- Type of Occupation
- Tenure of the Loan
- Purpose of the loan
- Whether there is any co-borrower or not
- Loan amount required
When you fill all these details, your eligibility for the loan can easily be calculated. At paisabazaar.com you can check your home loan eligibility anytime from anywhere and free of cost.