Axis Bank Loan Against Property

Axis Bank Loan Against Property Highlights
Interest Rates	9.25%-10.00% p.a.
Loan Amount	Rs 5 lakh – Rs 5 crore
Tenure	Up to 20 years
Processing Fee	1% or Rs 10,000 (whichever is higher)

Axis Bank Loan Against Property Interest Rates

Product	Interest Rates (p.a.)
Floating Rate PSL Category	9.25%-10.00%
Floating Rate Non-PSL Category	9.50%-10.00%

While the bank has not disclosed differential LAP interest rates based on the credit score, loan amount, loan tenure, occupation profile, etc. many lenders consider these factors while setting their Loan Against Property interest rates.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	9.20-10.50	Apply Now
Bank of Baroda	10.85-18.35	Apply Now
PNB Housing Finance	9.25-15.00	Apply Now
IDFC First Bank	9.00-16.50	Apply Now
HDFC Bank Limited	9.50-11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50-11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
ICICI Bank	10.85-12.50	Apply Now
Tata Capital	9.00 onwards	Apply Now
Axis Bank	10.50-10.95	Apply Now
Punjab National Bank	10.15-14.00	Apply Now

Axis Bank Loan Against Property Fees and Charges

Processing Fees	1% or Rs 10,000, whichever is higher An upfront processing fee of Rs 5,000 will be collected at the time of application submission
Duplicate issuance charges	Rs 250
Penal interest	8% p.a. above the applicable interest rate on the overdue amount (Maximum 24% per instance)
Cheque bounce charges	Rs 339
CERASI	Rs 50 for loans up to Rs 5 lakhs Rs 100 for loans above Rs 5 lakhs
CERSAI charges	For loan amount up to Rs 5 lakh- Rs 50 For loan amount above Rs 5 lakh- Rs 100
Part payment	Up to 25% of the principal outstanding repaid in the quarter – NIL Charges More than 25% of the principal outstanding repaid in a quarter -3% charges on excess amount repaid For non-individuals: 3% part prepayment charge on outstanding principal For individuals with end use as business: 3% on outstanding principal For individuals with end use other than business: NIL
Foreclosure charges	For non-individuals: 3% foreclosure charge on outstanding principal is applicable. For individuals with end use as business: 3% foreclosure charge on outstanding principal For individuals with end use other than business: NIL

Types of Axis Bank Loan Against Property

Loan Against Property

• Purpose: To fulfill personal or business requirements
• Loan Amount: Rs 5 lakh-Rs 5 crore
• Tenure: Up to 20 years
• Processing Fee: 1% or Rs 10,000, whichever is higher

Lease Rental Discounting

• Purpose: Loan against rental receipts from leased contracts of corporate tenants
• Loan Amount: Rs 5 lakh-Rs 5 crore
• LTV Ratio: Up to 50% of property value or 85% of the net present value of the future rentals
• Tenure: Up to 9 years
• Processing Fee: 1% or Rs 10,000, whichever is higher

Overdraft Facility Against Property

• Purpose: Overdraft facility on loan against property to balance cash flow mismatches and meet working capital requirements
• Loan Amount: Rs 5 lakh – Rs 5 crore
• Tenure: Up to 10 years
• Processing Fee: 1% or Rs 10,000, whichever is higher
• Renewal: Every 12 months as per repayment schedule

Eligibility Criteria for Axis Bank Loan Against Property

• Age: 24-65 years
• Permanent employees of Government/reputed companies
• Individuals filing Income Tax returns
• Doctors/engineers/lawyers/CA/CS/dentists/architects/management consultants/cost accountants

For Lease Rental Discounting

• The lessee should be a company as defined under Companies Act 1956
• Loan is sanctioned only against ready commercial property.

In addition to the above-mentioned eligibility criteria, Axis Bank may also consider the credit score, monthly income, EMI/NMI ratio, etc. of its applicants while evaluating their Loan Against Property eligibility, just like many lenders do while evaluating the eligibility of their LAP applicants.

Documents Required for Axis Bank Loan Against Property

The list of loan against property documents required by Axis Bank based on the applicant and product types are as follows:

• PAN card (mandatory)
• ID Proof (Aadhar card/Driving license/passport/voter ID/Government employee ID/Photo ID issued by Government of India)
• Address Proof (Electricity bill/gas bill/telephone bill/driving license/Aadhaar card/property tax receipt)
• Date of Birth Proof (Birth certificate/SSC certificate/Passport/PAN card/Driving license/Aadhaar card)
• Signature Proof (Notarized affidavit with ID and Address proof/Banker’s verification/PAN card/Passport)
• Income Proof:

For Salaried:

• Pay slip for last 3 months
• In case of variable pay, salary slip for 6 months
• Salary account statement for last 6 months
• Form 16 for 2 years

For NRI:

• Pay slip for 3 months
• Appointment letter
• Domestic NRE/NRO statement for 6 months
• 6 months account statement for international salary
• Passport copy
• POA details
• Valid VISA copy
• Overseas credit report

For Self-Employed:

• ITR for 2 years with income computation, P&L, balance sheet, signed and sealed by CA
• Tax Audit Report
• Personal and business account statement for 6 months
• CPC and tax paid challan for ITR filed with manual sign
• Business continuity proof for 5 years
• Processing fee cheque

For Lease Rental Discounting

• 6 months’ bank statement showing the credited rent
• Valid registered lease agreement
• 26AS for 1 year
• ITR for 2 years with income computation, balance sheet signed and sealed by CA, P&L
• Partnership deed, audited financials for 2 years, KYC, operative account, partnership authority letter

FAQs On Axis Bank Loan Against Property

What is the current rate of interest of Axis Bank Loan Against Property?

Ans. Axis Bank Loan Against Property interest rates range between 10.50% to 10.95% p.a. The lender offers differential interest rates depending on the product variant and credit assessment of the applicant.

How can I apply for Axis Bank Loan Against Property?

Ans. You can apply for Axis Bank Loan Against Property directly through the official website of Axis Bank. You can also apply for Loan Against Property through offline mode by visiting any Axis Bank branch.

What are the eligibility requirements for availing Loan Against Property from Axis Bank?

Ans. Salaried and self-employed individuals above 24 years of age at the time of loan application are eligible for availing Axis Bank Loan Against Property. All the salaried individuals filing income tax and all the self-employed professionals, such as doctors, engineers, architects, dentists, CAs and company secretary can apply for Axis Bank LAP.

What is the processing fees of Axis Bank Loan Against Property?

Ans. Axis Bank charges a processing fees of 1% of loan amount or Rs 10,000 (whichever is higher) from its Loan Against Property applicants. The lender also charges an upfront processing fees of Rs 5,000 at the time of application login.