Thank you for your response
Thank you for your response
Our representative will get in touch with you shortly.
Axis Bank, one of India’s renowned banks, offers home loans at an easy-going interest rate. The value of your property or budget, location, assets and liabilities, credit score, and many other factors will determine the loan amount granted to you.
|Home Loan Schemes||Special Feature||Loan Amount||Maximum Tenure|
|Axis Bank Home Loan||For both Indian residents and NRIs, salaried as well as self-employed applicants. No prepayment chargesOption to choose from fixed and floating interest rates.||Up to Rs.5 crore||30 years|
|QuikPay Home Loan||Reducing Monthly Instalments (RMI) to save interest and pay off more towards the principal component.||Up to Rs.5 crore||30 years|
|Shubh Aarambh Home Loans||Get 12 EMIs off on regular repayments, i.e. 4 EMIs waived off at the end of 4th, 8th, and 12th year.||Rs.1 lakh up to Rs.30 lakh||30 years|
|Fast Forward Home Loan||Get 12 EMIs off on regular repayments, i.e. 6 EMIs at the end of 10th and 15th year.||Rs.30 lakh up to Rs.5 crore||30 years|
|Asha Home Loan||Affordable home loan for families with a minimum combined family income of Rs.8,000 per month||Rs.1 lakh up to Rs.35 lakh||30 years|
|Top-Up Home Loan||Get a top-up on the existing home loan or balance transfer from another bank for personal or business requirements||Rs.1 lakh up to Rs.50 lakh||Same as the outstanding home loan|
|Super Saver Home loan||This scheme comes with an overdraft facility to save total interest payable. Invest surplus funds in the account to earn interest and access it whenever required.||Rs.50 lakh up to Rs.5 crore||20 years on fully-disbursed loans; 22 years on partially disbursed loans|
|Power Advantage Home Loan||Interest for the first 2 years will be fixed. Later, the floating interest rate will be applicable.||Rs.5 crore||30 years|
|Pradhan Mantri Awas Yojana||Interest subsidy on home loans for economically weak sections, low-income groups and medium-income groups.||Subject to applicant’s eligibility||30 years; subsidy provided up to 20 years|
The interest rates provided in the table below are effective from 1 October 2020. The repo rate (RR) applicable as of 3 February 2020 is 4%.
|Scheme||For Salaried Applicants||For Self-Employed Applicants|
|Regular Home Loans||Floating Rate: RR + 2.90% up to RR + 4.40%Fixed Rate: 12%||Floating Rate: RR + 3.00% up to RR + 4.55%Fixed Rate: 12%|
|Asha Home Loans||Floating Rate: RR + 6.05% up to RR + 7.00%||Floating Rate: RR + 6.30% up to RR + 7.50%|
|Documents||Salaried Applicants||Self-Employed Applicants|
|Proof of Identity||Valid Passport/voter ID/driving license with photograph/PAN card/Aadhaar card||Valid Passport/voter ID/driving license with photograph/PAN card/Aadhaar card|
|Proof of Income||Last 3 months’ salary slip/certificate for a fixed salary/latest Form 16Last 6 months bank statement/bank passbook of the salary account||IT Returns for the last 2 years along with computation of income certified by CALast 6 months’ bank statement for an operative account; both personal and business|
|Proof of Residence||Latest electricity bill/utility bill/gas bill/telephone bill (Not more than 2 months old)/Passport/Aadhar card/voter ID/driving license||Latest electricity bill/utility bill/gas bill/telephone bill (Not more than 2 months old)/Passport/Aadhar card/voter ID/driving license|
|Description of Charges||Amount (Rs.)|
|Processing Fee||Up to 1% of the loan amount subject to a minimum of Rs.10,000|
|Penal Interest Rate||@24% per annum, i.e. 2% per month|
|Switching Fees (Base Rate/BPLR to MCLR)||When the effective rate is to be kept the same – No feesWhen the effective rate is to be revised – 0.5% on outstanding principal; a minimum of Rs.10,000/-|
|Switching Fees (Floating Rate to Fixed Rate)||1% on the outstanding principal with a minimum of Rs.10,000/-|
|Switching Fees (Fixed Rate to Floating Rate)||2% on the outstanding principal amount|
|Switching Fees (Higher Floating Rate to Lower Floating Rate)||0.5% on outstanding principal with a minimum of Rs.10,000. The lower rate will be equal to the applicable carded interest rate only|
|Repayment Instruction/Cheque Return charges||Rs.500 per instance|
|Duplicate Amortization Schedule Issuance Charges||Rs.250 per instance|
|Issuance Charges of Credit Report||Rs.50 per instance|
|Charges on Customer-initiated Requests for Copies of Documents||Rs.250 per document set|
|Prepayment Charges for Floating-rate Loan||NIL|
|Prepayment Charges for Fixed-rate Loan||2% of the principal outstanding|
Our home loan calculator is a convenient tool to calculate, evaluate and plan your budget.
Follow these steps to get a hassle-free Axis Bank home loan:
Step 1: Visit the Axis Bank website or the loan relationship manager/executive at the nearest branch.
Step 2: Submit the application form with all supporting documents.
Step 3: The bank will process your application and send you the sanction intimation.
Step 4: The applicant needs to submit the property-related documents.
Step 5: The bank’s legal and technical teams will review them and confirm the home loan.
Step 6: Upon accepting the offered loan amount, the loan amount will be disbursed within the stipulated time.
The whole process of loan application through disbursal would take around 15-20 days.
In the Loan Against Property case, a floating rate of 9.50%-10% p.a. is applicable for term loans and 10%-10.25% p.a. for overdraft loans.
There are four schemes offered under Loan Against Property:
The bank decides whether you are eligible for a home loan or not based on the following criteria:
|SBI Bank||HDFC Bank||ICICI Bank||Indian bank|
|AXIS Bank||KOTAK Bank||Union Bank of India||Canara Bank|
|Bank of Baroda||IDBI Bank||Bank of India||Andhra Bank|
|Central Bank of India||Allahabad Bank||PNB|
|Syndicate Bank||Corporation Bank||RBL Bank|