Axis Bank Loan Against Property

Axis Bank key benefits and features of Loan Against Property are:

• Attractive rate of interest starting from 10.50%
• Loans starting from Rs. 5 lakh
• Loan repayment period of 20 years
• No prepayment charges for loan taken at floating rates
• Loan balance transfer facility available
• Avail Lease Rental Discounting and Overdraft Facility against your property

Axis Bank LAP Interest Rate 

Axis Bank LAP Service Charges

*Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)

Axis bank offers Loan Against Property to salaried employees, self-employed individuals and self-employed professionals. To avail the loan, all they need to do is fulfill the following required LAP eligibility criteria:

Axis bank Loan Against Property Eligibility for Salaried Individuals

• The applicant must be in permanent service in the government or a reputed organisation
• The applicant should be between 24 and 60 years

Axis bank Loan Against Property Eligibility for Self-employed Individuals

• The applicant should be filing IT returns
• The age of the applicant should be between 24 and 65 years

Axis bank Loan Against Property Eligibility for Self-employed Professionals

• Only professionals including doctors, cost accountants, engineers, management consultants, chartered accountants and company secretaries can apply for the loan
• The age of the applicant should be between 24 and 65 years

The documents required to apply for Axis Bank Loan Against Property are:

• Duly filled Axis Bank Loan Against Property Application Form
• 2 passport size photographs of the applicants, guarantors and co-applicants
• Proof of Identity of the applicant and guarantor (copy of any 1- Passport, Aadhaar Card, PAN Card, Driving License, Voter ID, Govt. Employee ID or Government-issued Photo ID)
• Proof of Residence of the applicant and guarantor (copy of any 1- Passport, Aadhaar Card, Utility Bills, Driving License, Voter ID, Govt. Employee ID, Property Tax Receipt or Government-issued Photo ID)
• Proof of Age of the applicant and guarantor (copy of any 1- Passport, Aadhaar Card, Birth Certificate, Driving License, Voter ID, Govt. SSC Marksheet)
• Proof of Signature of the applicant & guarantor (copy of any 1 – Passport, PAN Card, Banker’s Verification or Notarized affidavit with ID & Address Proof)
• Proof of Income for Salaried:
  • 3 months’ pay slip or 6 months’ pay slip/2 yrs. bonus proof)
  • 6 months bank statement showing salary credits
  • 2 yrs. Form 16 or Employment Continuity Proof
• Proof of Income for Salaried NRIs:
  • 3 month pay slip
  • Appointment letter/contract letter
  • Continuous Discharge Certificate for Shipping cases
  • 6 month Domestic NRE/NRO a/c statement
  • 6 month international salary a/c statement
  • Overseas credit report
  • Valid visa copy/OCI card
  • Passport copy
  • POA details
• Proof of Income for Self Employed:
  • 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
  • For Asha HL – 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
  • Tax Audit Report (If Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)
  • 6 months bank statements of personal and business accounts
  • If ITR is filed without digital sign – CPC and tax paid challan
  • Business continuity proof (3 yrs for HL / 5 yrs for LAP)
• Other Important Documents & Checks:
  • Aadhaar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants
  • PAN card is mandatory for all financial applicants
  • Processing Fee and CERSAI cheques
  • Self-attestation of borrowers on all documents submitted

Loan against property includes a large amount of money and is a long-term commitment. Hence, it is important to plan your finances before applying for the loan. Without proper financial planning, timely repaying your loan can be task. To plan your budget, you must know approximately how much portion of your salary you need to keep aside every month. To know your Axis Bank Loan Against Property EMI, use Paisabazaar.com’s Loan Against Property EMI Calculator. This online tool will help you know the approximate loan EMI amount. The tool is easy-to-use and free of cost. To use the tool at Paisabazaar.com, follow these steps:

• Click here  to directly visit the Paisabazaar’s Loan Against Property EMI Calculator page.
• Enter these loan details:
• Loan Amount
• Rate of Interest
• Loan Tenure

On entering the above details, the results will appear.

Customers can apply for Axis Bank Loan Against Property through the following ways:

• Apply online through Paisabazaar.com:One of the easiest ways to apply for Axis Bank Loan Against Property is through Paisabazaar.com. The online lending marketplace has easy loan application process. On a single online platform, compare latest interest rates of loans by different banks and NBFCs.
• Visit the Nearest Bank Branch:To avail the loan, customers can also visit the nearest Axis Bank branch and request the bank representatives to take you through the application process.

Axis Bank Customer Care helps you find answers to your loan-related queries or raise a complaint. To clear out any Loan Against Property query, get in touch with the bank via any of the following channels:

• Call on the toll-free number: 1860-419-5555/1860-500-5555
• Send an Email: Click here to send a mail

Do Web Chat: Click here to chat with the Axis Bank customer support team

What is the Axis Bank’s Loan Against Property interest rate?

As per the prevailing MCLR, which is 8.45%, the current interest rate of Axis Bank Loan Against Property is 10.50% onwards.

What is the maximum loan tenure of Axis Bank Loan Against Property?

The maximum loan tenure of Axis Bank Loan Against Property is 20 years. The loan will be repaid on equated monthly instalments (EMIs).

What is the minimum or maximum loan amount that customers can avail on Axis Bank Loan Against Property?

Axis Bank offers loan against property starting from Rs. 5 lakh and upto Rs. 5 crore. The loan amount that the bank will sanction to an applicant depends on various factors including the market value of your property, age, credit score, etc.