Axis Bank Home Loan

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

Axis Bank Home Loan Features & Benefits

• Different home loan schemes to cater every individual’s home loan needs
• Available at both fixed and floating interest rates
• Longer and flexible loan tenure
• Multiple preapproved residential projects to choose from
• Multiple repayment options
• No prepayment charges on floating rate home loans

Check Also: Home Loan Tax Benefits

Axis Bank Home Loan Interest Rates

Note: Rates as on 19th October 2021. The interest rate above is subject to change without prior notice. The final rate of interest for the customer shall depend on their credit assessment and the product variant.

Transfer Your Home Loan at the Lowest Interest Rate of 6.45% p.a. Apply Now

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.

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 housing 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 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.

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

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

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

Also Read: How to Check & Improve 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.

Read: Complete List of Home Loan Documents

Axis Bank Home Loan Schemes

1. Axis Bank Home Loan – For Resident & Non Resident Indians

Axis Bank Home Loans come with a host of benefits, such as longer tenure, low interest rates, no prepayment charges, etc. The loan can be availed to buy a new house/plot, construct a house on a plot and remodel/renovate/extend an existing property. Salaried and self employed Resident Indians and Non Resident Indians can apply for axis bank home loan. Check Eligibility

2. Axis QuikPay Home Loan – For Saving on Interest Payable

Axis Bank offers QuikPay Home Loan that allows borrowers repay higher principal amount earlier in the loan tenure; thus, reducing monthly installments and helping borrowers save huge on the interest amount. This home loan product can help borrowers save up to Rs. 11 lakh interest on a Rs. 50 lakh home loan taken for a tenure of 20 years. The loan can be availed to buy a new house, construct a new house on an already owned plot, buy a new plot and construct a house on it and extend or improve an existing residential property. Check Eligibility

3. Axis Shubh Aarambh Home Loan – For EMI Waivers

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 EMIs. 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. Loan can also be part paid, as long as the loan term does not fall below 4 years. Check Eligibility

4. Axis Fast Forward Home Loan – For EMI Waivers

Under this scheme, get 12 EMIs waived off at no extra cost and on regular EMI payment. 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 minimum loan term at the time of loan disbursement should be 20 years. Loan can also be partially paid as long as the loan does not fall below 10 years, to avail waiver. Check Eligibility

Get Home Loans @ 6.75% Onwards with Zero Processing Fees Apply Now

5. Axis Asha Home Loan – For People with Family Income of At least Rs. 8,000 p.m.

Features & Benefits:

• Funding of up to 90% of property value on home loans up to Rs. 30 lakh
• 12 EMIs waived off 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
• Avail benefits of up to Rs. 2.67 lakh under PMAY Credit Linked Subsidy Scheme
• Avail home loans for properties starting at 300 (saleable) sq. ft. area
• Large database of approved projects to choose from

Eligibility:

• Should have a clean repayment track record
• The minimum loan term at the time of loan disbursement should be 20 years
• The minimum combined family income required to apply for this home loan product is Rs. 8,000 or Rs. 10,000 per month, depending on the location Check Eligibility

6. Axis Super Saver Home Loan – For Saving on Interest with Overdraft Facility

Axis Bank’s Super Saver Home Loan scheme helps customers save on their total home loan interest amount. This home loan product is similar to an overdraft facility as it allows borrowers to deposit surplus amount in the Super Saver Account to reduce their principal outstanding and subsequently the interest amount account. The excess funds parked can be withdrawn as and when required by the customer. Borrowers will be charged interest only on the net principal outstanding i.e. loan amount outstanding minus any excess funds parked in the account. Check Eligibility

7. Axis Power Advantage Home Loan – For Fixed & Floating Interest Rate Benefit

Axis Bank Power Advantage Home Loan offers several benefits, including PMAY interest subsidy benefit, home loan balance transfer facility and fixed rate & floating interest rate advantage. In this home loan product, borrowers will get fixed rate for initial two years and floating rate for the remaining loan tenure. Check Eligibility

8. Axis Bank Top Up Home Loan – For Axis Bank Home Loan Customers

Under Axis bank top up home loan, existing Axis Bank home loan customers can avail extra financing of up to Rs. 50,000 against the mortgage of their property. The top up loan can be availed for any personal or business related purposes. Check Eligibility

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

Pradhan Mantri Awas Yojana – Credit Linked Subsidy (PMAY CLSS) is a government scheme wherein eligible beneficiaries belonging to the Economically Weaker Section (EWS), Low-income Groups (LIG) and Middle-income Groups (MIG – I & II) get interest subsidy of up to Rs. 2.67 lakh on housing loans taken for construction or purchase of their first homes.

Save Up to Rs. 2.67 Lakh on Home Loan Interest Under PMAY CLSS Apply Now

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.

Read Also: How to Check Axis Bank Home Loan Status & Axis Bank Home Loan Statement

Axis Bank Home Loan Customer Care

Get your home loan related queries, requests and concerns resolved through the following channels:

• Live Chat: Click here to Raise a Query / Request / Complaint by selecting specific Product to Raise a Query / Request / Complaint by selecting specific Product & Issue type
• Call: To know the status of your existing complaint, call Axis Bank Home Loan Customer Care at:
  • 1800 419 0068 (Toll free number) (Call between 8:00 A.M. to 8:00 P.M.)
  • 1860 419 5555 (Charges as per the service provider)
  • 1860 500 5555 (Charges as per the service provider)
• Email: Click here to write an email
• Branch / Loan Centre: Visit bank’s official website for live web chat or send an email to them explaining your issue

Know More: Axis Bank Home Loan Customer Care

Get Your Free Credit Report with Monthly Updates Check Now

Axis Bank Home Loan FAQs

What type of interest rate is offered on Axis Bank home loans?

Axis bank offers home loans at both fixed and floating rate of interest. The Axis bank housing loan rate of interest linked to floating rate regime starts at 6.75% p.a. And the Axis bank home loan rate linked to fixed rate regime is 12% p.a.

What are the minimum and maximum loan amount one can get on Axis Bank Home Loan?

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.

What is Pre-EMI Interest?

Pre-EMI interest is the interest on the loan amount disbursed by the bank. It is payable every month from the initial date of disbursement until the commencement of the EMI payments.

Who is eligible to be a co-applicant when applying for Axis bank housing loan?

Co-owner of the concerned property must be added as a co-applicant in the home loan application. In case of single ownership of the property, any immediate family member such as parents, son, spouse, etc. can be included as a co-applicant in the Axis bank home loan application form.

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.