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Home Loan

Axis Bank offers Home loans to individuals so that they can own their dream house without worrying about the necessary finances. Axis offers home loans under different types which are suitable to a large group of individuals. Here are the following types of loans and their respective details:
 

Axis Bank Home Loan Interest Rate 2017

Interest Rate 8.35% onwards
Processing Charges Upto 1% of loan amt.
Loan Tenure Upto 30 years
Loan Amount Rs. 10 crores
Cheque Bounce Charges Rs.500 per instance
Cheque / Instrument Swap Charges Rs.500 per instance
Prepayment or Foreclosure Charges Nil if floating, upto 2% for fixed rate 

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

Axis Bank Home Loan

  1. Axis Bank Home Loans

Home loans offered by Axis Bank have great features like flexible tenures, transparent processing and quick service. The home loan from Axis bank has various features which are as follows:

  • The interest rates charged by the bank under its housing loan scheme are fair and reasonable making them attractive and popular among customers because they can afford the interest rates charged by the bank.
  • Both fixed and floating rates of interest are available under the Home Loan schemes and the applicant can choose either of the two based on his or her perception about the movements of the interest rates.
  • A minimum amount of 3 lakhs can be borrowed under the Axis Bank Housing Loan scheme. However, there is no upper limit on borrowing and it depends on the borrower’s repayment capability.
  • The bank offers balance transfer scheme under the Axis Bank Housing Loan which means that if an applicant already has a home loan from a bank and is not satisfied with the charges and EMIs of that bank, he or she can transfer the existing home loan to Axis Ltd. Home Loan without any additional hassles.
  • This Axis home loan offers doorstep loan service so that the customer does not need to visit the bank branch. The bank comes to the applicant’s doorstep to complete the loan processing formality
  • If the applicant wishes to pay off the Axis Home loans earlier than the stipulated tenure, it is possible and there are no charges for prepayment. However, the prepayment facility is only available to customers who have chosen a floating rate of interest.
  • Premium banking customers like Priority, Wealth or Burgundy, are given special benefits in the rates and charges of the Axis Home loans
  • Availing of a longer tenure of 30 years results in lower EMIs making the Axis Home loan affordable to the customers, you can pre-plan EMI by calculating with home Loan Calculator.
  • eDGE Loyalty Points Program enables earning of eDGE Reward points when the customer avails the Axis Home loans or takes a top-up home loan and on every anniversary year of the availed Axis Ltd. home loan.

 

  1. Axis Happy Ending Home Loans

A unique home loan available at Axis bank where if the borrower pays the EMIs regularly, the last 12 EMIs are waived off by the bank. The other features and benefits are:

  • Home loans sanctioned under this category are for purchasing a house which is under construction or ready or for resale, construction of your house, purchase of plot, etc.
  • A minimum amount of 3 lakhs can be borrowed under the Axis Limited Home loan scheme. However, there is no upper limit on borrowing and it depends on the borrower’s repayment capability.
  • The last 12 EMIs are waived off if the earlier EMIs have been paid on time. There are certain conditions to be fulfilled to avail of this benefit like – there should be only 3 instances of EMIs pending for 30 days or above but always below 90 days during the loan tenure, the minimum opted tenure should be 20 years and the customer can part pay the loan amount as long as the tenure does not fall below 180 months or 15 years.
  • The waiving of EMIs does not involve any extra charges and is free of cost.
  • The rates of interest applicable on the scheme are standard without any additional interest
  • The bank offers balance transfer scheme under the Home Loan which means that if an applicant already has a home loan from a bank and is not satisfied with the charges and EMIs of that bank, he or she can transfer the existing home loan to axis bank without any additional hassles.
  • The bank provides doorstep loan service so that the customer does not need to visit the bank branch. The bank comes to the applicant’s doorstep to complete the processing formality
  • If the applicant wishes to pay off the loan earlier than the stipulated tenure, it is possible and there are no charges for prepayment. However, prepayment is allowed only if the loan tenure does not fall below 180 months
  • The loan processing method is quick and easy and loan is disbursed at the earliest

 

  1. Axis Empower Home Loans

Home Loans specifically offered to self-employed individuals who can avail the loan instantly if they have a good banking track record. The other features of the loan are as follows:

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  • The loan is available for purchasing a house which is under construction or ready or for resale, construction of your house, purchase of plot, etc.
  • A minimum loan of Rs.10 lakhs is available under the scheme and a maximum of 50-150 lakhs depending on the city of borrowing
  • A unique benefit of 3 rate reductions if the applicant maintains a good track record with bank for 24, 36 and 60 months after the date of loan disbursement for availing the 1st, 2nd and 3rd rate reduction respectively
  • The rates of interest applicable on the scheme are attractive and affordable suiting the pocket of the borrower.
  • The bank offers balance transfer scheme under the Home Loan which means that if an applicant already has a home loan from a bank and is not satisfied with the charges and EMIs of that bank, he or she can transfer the existing home loan to axis bank without any additional hassles.
  • The bank provides doorstep loan service so that the customer does not need to visit the bank branch. The bank comes to the applicant’s doorstep to complete the loan processing formality
  • If the applicant wishes to pay off the loan earlier than the stipulated tenure, it is possible and there are no charges for prepayment. However, prepayment is allowed only if the loan tenure does not fall below 180 months
  • The method of processing the loan is quick and easy and loan is disbursed at the earliest

 

  1. Axis Asha Home Loans

A tailor-made home loan for small time borrowers. The features are:

  • The loan is available for purchasing a house which is under construction or ready or for resale, construction of your house, purchase of plot, etc.
  • The tenure for loan repayment is up to 30 years making the EMIs lower and thus affordable
  • Loan value ranging from 1 lakhs to 28 lakhs
  • For loan amounts up to Rs.20 lakhs, the bank funds 90% of the property value leaving the customer to meet only 10% of the value
  • Loan is available for a small house also which is about 300 sq.ft.
  • The loan can be applied for if the combined income of the family is Rs.8000 or Rs.10, 000 thereby enabling the family to contribute towards Axis Home loan repayment
  • The products can be customized and there is a large range of approved projects across the country.
  • The rates of interest applicable on the scheme are attractive and affordable suiting the pocket of the borrower.
  • The bank offers Axis Home Loan transfer scheme under the Home Loan which means that if an applicant already has a home loan from a bank and is not satisfied with the charges and EMIs of that bank, he or she can transfer the existing home loan to axis bank without any additional hassles.

 

  1. Axis Super Saver Home Loans

A loan facility which helps the borrower to save the interest payments on his borrowings. The loan promises the below mentioned features which are:

  • Under this loan, the borrower can park his surplus cash in the Super Saver Account which would effectively reduce the outstanding balance of the loan and the subsequent interest. This surplus amount can also be withdrawn by the applicant whenever required.
  • A cheque book, an ATM card, phone and internet banking facilities are provided with the account.
  • A floating rate of interest is charged on the Axis Bank Home loan account and the rate is low.
  • The Axis Bank Home loan can be taken up to a maximum tenure of 20 years for a minimum amount of Rs.1 crore
  • Any outstanding balance of the Axis Bank home loan with other banks or financial institutions can be transferred under this loan scheme
  • The Axis Bank Home loan can be prepaid without subject to any prepayment charges. Though prepayment is allowed, it is better to maintain a higher surplus fund in the Super Saver account so that it would reduce the outstanding liability of the loan and the consequent incidence of the chargeable interest.
  • The Axis Bank Home loan is provided at the applicant’s doorstep and the service is quick and transparent.

Axis Bank Eligibility Criteria

Check Eligibility

The following individuals matching the respective criteria are eligible to avail the Axis Home loan:
 

Home Loan Eligibility Criteria for Salaried Applicant

  • The applicant must have been employed in permanent capacity with recognized private or Government enterprise
  • The prospective borrower needs to have completed 24 years of age at the time of loan application. Additionally, the maximum age of applicant by which the superannuation of the Axis housing loan must occur is 60 years. However, the home loan from Axis limited may be ended before the applicant reaches the age specified as well.

 

Home Loan Eligibility for Self-Employed Professionals

  • Self employed professionals such as management consultant, CA, dentists, doctors, cost accountants, doctors etc. are also eligible to apply for a Axis bank home loan.
  • Such individuals must be at least 24 years old when applying for the home loan, while they cannot exceed 65 years when the home loan from Axis matures.

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Eligibility Criteria Specific to Self-Employed Applicant

  • Any self-employed person who has regularly submitted his/her income tax returns may be considered for a Axis Home Loan.
  • The maximum age of applicant at the time of home loan maturity is fixed at 65 years, while the minimum age of eligibility for home loan application with Axis bank is 24 years for self employed.  

 

Salaried Individuals with the following criteria

  • Individuals in reputed companies of Government in permanent service.
  • Applicants should be above 24 years while applying for Axis housing loan and the maximum allowable age is 60 years or up to superannuation whichever is early at the time of maturity of the Home loan from Axis limited.

 

Professionals with the following criteria

  • Engineers, architects, dentists, management consultants,doctors, chartered accountants, company secretaries, cost accountants, only can apply for a Axis Home loan
  • Applicants age should be above 24 at the time of home loan application and 65 years or less at the time of loan maturity.

 

Self-employed Individuals with the following criteria

  • Any individual filing Income Tax Returns is eligible for applying to Axis Home loans
  • Applicants should be above 24 years of age at the time of Axis Limited home loan application and 65 years or less at the time of loan maturity.

Axis Home Loan Interest Rate and Charges

Axis Bank Home Loan Interest Rates

Type

Axis Limited Home Loan Amount

Effective rate of interest

Floating Rate

 

 

Up to  Rs 30 lacs

8.35%

Rs 30 - 75 lacs

8.65%

Above 75 lacs

8.70%

 

 

Axis Bank Home Loan Charges

Processing Charges

Up to 1% of the Home loan amount

Repayment Instruction return charges

Rs.500 per instance

Cheque or Instrument Swap charges

Rs.500 per instance

CERSAI charges

Rs.500

Duplicate Statement Issuance charges

Rs.250 per instance

Issue of Amortization Schedule in duplicate

Rs.250 per instance

Duplicate interest certificate (Actual/Provisional)issuance charges

Rs.250 per instance

Issuance charges for photocopy of title documents

Rs.250 per instance

Charges on customer initiated request for copies of documents

Rs.250 per document set

Equitable mortgage creation charges

As applicable in the state

Credit Bureau report issuance charges

Rs.50 per instance

Prepayment charges for floating rate

NIL

Prepayment charges for fixed rate

2% of outstanding principal/amount prepaid

No Due certificate

NA

Solvency Certificate

NA

Charges for late payment of EMIs

Rs.500 per cheque bounce and penal interest @24% per annum

Documents for Axis Home Loans

The following documents are required when you apply for an Axis limited home loan:
 

Purpose

Salaried

Self-employed

Identity & Address Proof

Passport or Voter’s ID Card or Driving License or Job Card issued by NREGA or Aadhar Card or PAN Card or any other document as acceptable to the bank

Income Proof

Latest 3 months’  salary slip showing all deductions and Form 16

Last 2 years’  IT returns and computation of income for the last 2 years certified by a CA

Bank statement or Passbook where salary or income is credited

Last 6 months’ 

Last 6 months’ 

Guarantor Form

Optional

Optional

 

Axis Bank Home Loan EMI Calculator

Check Eligibility

The bank provides the facility of calculating the Axis Home Loan EMI online by specifying the loan amount, the tenure opted and the applicable rate of interest. The calculated EMI will be displayed to the applicant who can proceed to apply for Axis Bank Home Loans or decide on affordability.

 

Read more at Rate Cut- Should You Lower Your EMI Or Reduce The Loan Tenure?

 

Apply Axis Bank Home Loan Online

Apply Online

An applicant who is desirous of availing Axis Housing Loans first needs to be eligible for the loan as per the bank’s requirements. Checking the eligibility has been simplified by the bank where the prospective client can simply log on to our website and check his eligibility. If he decides to apply for the Axis Bank Home loan, the same can be done online too.Axis Bank Offer many other services like loan against property, Mutual funds, and other investment services 



Axis Bank Home Loan Applying Online
 

Applying for Axis Bank Home loans can be done online through our website by following two simple steps:
Log on to our website www.paisabazaar.com – click the ‘Home Loan’ tab – fill up the information asked for checking the eligibility and applying for the Axis Bank Home loan.


After doing the necessary check like credit worthiness, eligibility, etc. the bank will issue the loan. So the applicant needs to provide his personal details like name, age, address, occupation, income, etc. which is used to generate a quote for EMIs with respect to the  Axis Housing Loans. If the applicant decides to apply for a home loan, all the documentation process is required to be completed and the applicant is required to submit the necessary documents as mentioned. After the bank satisfies itself with the eligibility criteria and after all required documents are submitted and successfully verified, the Axis Bank Home loan is granted.

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Axis Bank Home Loan
(4.4/5 ) 11 Reviews
Home LoanHome Loan
5/5

Very helpful site

Paisabazaar is a really nice and helpful. I selected Axis Home Loan and I am really happy with my loan scheme. The processing fee is zero and there are no additional charges. The loan scheme has very low interest rates. It took me just 1 minute to ap..Read more...

Male Profile Pic
Posted on: Jan 20 , 2017
Home LoanHome Loan
3/5

Just Fine

I was searching for good home loan schemes online and I came across Axis home loan offers. The interest rates applicable on the loan schemes are variable on different scenarios. My loan scheme got approved at 8.6% annual rate. Overall the loan scheme..Read more...

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Posted on: Jan 15 , 2017
Home LoanHome Loan
4/5

Decent loan schemes

Axis bank has good loan schemes with decent interest rates. My loan scheme has 9.20% p.a. only. The bank charges no additional charges and the customer support is also very good. This is a highly recommendable bank for ay loan schemes and other produ..Read more...

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Posted on: Dec 29 , 2016
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