Axis Bank Home Loan

Note: The facts and figures provided above are illustrative are subject to periodic change.

Axis Bank home loan interest rate is 7.75% – 8.55% p.a. under the floating rate regime and 12% p.a. under the fixed-rate regime. The loan tenure of Axis Bank home loan can extend up to 30 years under the floating rate regime and up to 20 years under fixed-rate regime. The bank offers various home loan schemes to both self-employed and salaried professionals. The housing loan can be availed for buying a new home/plot or renovating/expanding an existing property.

Axis Bank Home Loan Features & Benefits

• Axis Bank offers a variety of home loan schemes to cater to every individual’s home loan requirements
• Axis Bank offers attractive home loan interest rates starting 7.75%
• It offers longer loan tenure, extending up to 30 years
• Offers various repayment options
• Offers home loan EMI calculator for customers to compute their loan EMIs beforehand so that they can plan their finances in advance
• Axis Bank also offers home loan to NRIs.
• Tax Benefits

Axis Bank Home Loan Interest Rates

The current Axis Bank floating rate home loan interest rate starts from 7.75% p.a. The bank’s floating rate home loans are linked to an external benchmark rate, which is the RBI Repo Rate (currently 4.40%). For Axis Bank borrowers who are currently servicing home loan under Marginal Cost of funds based Lending Rate (MCLR) lending regime, the current MCLR is 7.75%.

Compare Axis Bank home loan interest rates of various loan schemes

Note: Besides the home loan schemes mentioned in the table, Axis bank offers various other home loan schemes the rates of which can be requested at your nearest bank branch.

Axis Bank Home Loan Processing Fees & Charges

*In case of Part Disbursal, the charges will be calculated on total outstanding principal + undisbursed portion of sanctioned amount.
Note: GST will be levied on charges and fees, wherever applicable.

Axis Bank Home Loan EMI Calculator

Home loans involve a huge amount of money and are a long-term commitment, with loan tenure extending up to 30 years. Availing home loans without prior financial planning might lead to financial burden and subsequently defaults. To avoid such a scenario, potential borrowers must know the amount they are going to pay for their loan repayment. Knowing your home loan EMI before applying for the loan helps in planning the finances better. Paisabazaar’s Home Loan EMI Calculator can help you get the approximate value of the EMI for free. It is easy to use and also provides results instantly.

Axis Bank Home Loan EMI Calculation

The table below shows Axis bank home loan EMI calculation for different interest rates, loan amounts and loan tenures:

In the table above, one can notice that home loan EMIs decrease as the loan tenure increases. While choosing longer tenure reduces your monthly liability but it also increases your total interest payout. Hence, choose your home loan tenure wisely.

Axis Bank Home Loan Eligibility Criteria

Axis Bank offers several schemes to suit home loan requirements of their various customer segments. Each scheme has its own eligibility criteria. However, let us look at the basic eligibility to apply for Axis Bank home loan.

1. Axis Bank Home Loan Eligibility for Salaried:

   • The applicant should have a permanent service in a government or a reputed private organisation
   • The minimum age of the applicant should be above 21 years at the time of loan commencement
   • The maximum age of the applicant can be 60 years or superannuation, whichever comes earlier at the time of loan maturity

2. Axis Bank Home Loan Eligibility for Professionals:

   • Professionals such as doctors, dentists, architects, engineers, cost accountants, company secretary, chartered accountants and management consultants are eligible to apply for home loan
   • The minimum age of the applicant should be above 21 years at the time of loan commencement
   • The maximum age of the applicant at the time of loan maturity should be 65 years

3. Axis Bank Home Loan Eligibility for Self Employed:

   • Any individual filing income tax returns can apply for Axis Bank home loan
   • The minimum age of the applicant should be above 21 years at the time of loan commencement
   • The maximum age of the applicant at the time of loan maturity should be 65 years

Check Your Home Loan Eligibility

Axis Bank Home Loan Documents Required

• Duly filled in and signed Axis Bank Home Loan Application Form
• Proof of Identity
• Proof of Address
• Proof of Age
• Signature Proof
• Proof of income
• Lease Rental Discounting
• Loan Agreement & Annexures
• Sanction letter
• TDS challan or bank statement reflecting the same
• Processing fee cheque in the name of the bank
• National Automated Clearance House (NACH) mandate/SI form and SPDC

Note: Original documents are required for verification purpose only. Also, the above list is indicative. Additional documents may be asked by the lender on a case-to-case basis.

Complete List of Home Loan Documents

Axis Bank Home Loan Scheme

Compare Best Axis Bank Home Loan Offers

1. Axis Bank Home Loan

Axis Bank Home Loans come with a host of benefits, such as longer tenure, attractive interest rates, no prepayment charges, etc. The loan can be used to buy a new house/plot, construct a house on a plot and remodel/renovate/extend an existing property.

2. Axis Bank QuikPay Home Loan

Axis Bank QuikPay Home Loan helps borrowers to repay higher principal amount earlier in the loan tenure. With this, the monthly instalments decrease every month, helping to make huge savings on the interest amount.

3. Axis Bank Power Advantage Home Loan

Axis Bank Power Advantage Home Loan offers several benefits, including PMAY benefit, home loan balance transfer facility and 2-yr fixed rate & floating rate advantage. Customers can avail the fixed-rate benefit for the initial two years and then the floating rate for the remaining loan tenure.

4. Axis Bank Shubh Aarambh Home Loan 

Axis Bank’s Shubh Aarambh Home Loan allows customers to take benefit of interest subsidy on qualifying under Pradhan Mantri Awas Yojana Scheme. Under the scheme, the bank also waives off 12 home loan EMIs of customers with a clean track record. The EMIs will be waived off at the end of 4^th, 8^th and 12^th year. To get the waiver benefit, customers should have a clean repayment track record, i.e. there should only be 3 instances where dues are pending for 30 – 90 days. Also, the minimum loan tenure should be 20 years. Even after the prepayment of the loan, the home loan tenure must not be below 4 years.

5. Axis Bank Fast Forward Home Loan

Fast Forward Home Loan by Axis Bank provides quick and easy loan disbursals with minimal documentation. The home loan scheme also waivers 12 EMIs for loans serviced for more than 10 years, provided you pay your EMIs regularly. Customers are eligible for 6 months’ EMI waiver after they complete 10 years of loan repayment and another 6 months on the completion of 15 years from the first disbursement. The loan prepayment is allowed but the tenure should be below 10 years after pre-payment.

6. Axis Bank Asha Home Loan

Axis Bank’s Asha Home Loan offers loan amount up to Rs. 28 lakh along with other benefits such as funding of up to 90% of property value and waive off on 12 EMIs at no extra cost on regular EMI payments. The EMIs will be waived off at the end of 4^th, 8^th and 12^th year. To get the waiver benefit, customers should have a clean repayment track record, i.e. there should only be 3 instances where dues are pending for 30 – 90 days. Also, the minimum loan tenure should be 20 years. Even after the prepayment of the loan, the home loan tenure must not be below 4 years.

7. Axis Bank Empower Home Loan

Axis Bank Empower Home Loan scheme offers customers assured rate reductions provided they maintain a good loan repayment record. On maintaining a good repayment track record for 24, 36 and 60 months from the date of first disbursement, customers can avail 1^st, 2^nd and 3^rd home loan rate reductions, respectively.

8. Axis Bank Super Saver Home Loan

Axis Bank’s Super Saver Home Loan scheme helps customers save on their total home loan interest amount. After home loan disbursal, customers can deposit any amount in the Super Saver Account to reduce their principal outstanding and subsequently the interest amount. The excess funds parked can be withdrawn as and when required by the customer.

9. Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY/CLSS)

Pradhan Mantri Awas Yojana – Credit Linked Subsidy (PMAY CLSS) is a government scheme started with an aim to provide affordable home loans for economically weaker sections (EWS), low-income groups (LIG) and middle-income groups (MIG – I & II). Under the scheme, beneficiaries can avail a subsidy of up to Rs. 2.67 lakh.

How to Apply for Axis Bank Home Loan

Apply for Axis Bank Home Loan online at Paisabazaar.com. The steps to apply for the loan are:

• Visit the Home Loan page at Paisabazaar.com
• Fill the required details and accept the terms and conditions
• Click on the View Best Offers button to proceed
• The best home loan offers according to your eligibility will appear
• Compare and select the offer that best suits your requirements

Once customers have applied for the loan offer, they will receive an acknowledgement message and a reference number on their device screen. They will also receive a call from Paisabazaar’s home loan experts to take the home loan application process forward.

Axis Bank Customer Care

Get your Axis Bank home loan related queries resolved by calling at their toll-free number 

– 1860 419 5555/1860 500 555.

You can also visit bank’s official website for live web chat or send an email to them explaining your issue.

Read More

Axis Bank Home Loan FAQs

What are the minimum and maximum loan amount one can get from Axis Bank?

The minimum loan amount offered by Axis Bank is Rs 1 lakh. The maximum loan that Axis Bank offers is Rs. 5 crores. However, the loan amount, which you will get depends on your repayment capacity and credit history.

Who is eligible to apply for Axis Bank home loan?

Indian Residents as well as NRIs are eligible to apply for Axis Bank home loan. The applicants can either be salaried or self-employed. The minimum age of the applicant should be above 21 years at the time of Axis bank home loan application. Besides these points, there are several other factors that determine your home loan eligibility such as your income, credit history, existing financial liabilities, etc.

Does Axis Bank allow home loan for home improvements or home extension?

Customers can take home loan from Axis Bank for the following purposes:

• Purchase of a home or plot
• Construction of a home
• House repairs
• Home improvements
• Home extension
• Plot construction

What are the different options available for making EMI payments?

Axis Bank borrowers may repay their home loan through any of the following two ways:

• Standing Instruction (SI): You can use this mode if you have an Axis bank Savings, Salary, or Current Account. You can also use this option if you wish to open a Savings account with Axis Bank. Your EMI will debit automatically at the end of the monthly cycle.
• National Automated Clearing House (NACH): If you have a non-Axis Bank Account then this mode is useful for you. In this mode, your EMIs will debit automatically from your non-axis account.