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.

Axis Bank QuikPay Home Loan helps borrowers repay higher principal earlier in the loan tenure. The monthly instalments decrease every month helping in making huge save on the interest amount.

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

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 waivers 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. To get waive off 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.

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 waive off 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.

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. To get waive off 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.

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.

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.

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. For further details on the scheme, click here.

Home loans involve a huge amount of money and are a long-term commitment that may stretch up to 30 years. Availing home loans without prior financial planning may lead to financial burden and subsequently defaults. To avoid such a scenario, potential borrowers must know the amount they are going to pay for loan repayment. Knowing your home loan EMI before applying for the loan will help you in planning your finances accordingly. Paisabazaar’s Home Loan EMI Calculator can help you estimate the home loan EMI for free. It is easy to use and provides quick results.

Following documents are required for Axis Bank Home Loans:

• Duly filled 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.

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 out the required details and accept the terms and conditions
• Click 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.

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.

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 amount depends on the combined income.

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.

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