Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 596 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

Axis Bank offers home loans with great features and benefits like: attractive housing finance rates, balance transfer facility, doorstep service, nil prepayment charges and quick and transparent processing. You can find your eligibility for an Axis Bank home loan by filling in a short form. Axis Bank also offers eligible customers instant e-approval on home loan applications on BankBazaar.com. View details below.


You’re probably eligible for an Axis Bank Home Loan if you are

01
02
03
04
Axis Bank Home Loan Minimum Age

At least 24 years old

 Axis Bank Home Loan Maximum Age

Less than 65 years old

Axis Bank Home Loan Eligible Employment Type

Salaried / Self-employed
with regular income

Axis Bank Home Loan Minimum Income

Earn more than the minimum
income required


Your Axis Bank Home Loan amount eligibility is based on these factors

01
02
03
Axis Bank Home Loan Minimum Salary

EMI limited to about 50%
of monthly income

Axis Bank Home Loan Maximum Loan to property value

Loan capped @ 85% of property value

Axis Bank Home Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible Axis Bank Home Loan amount by these steps

01
02
03
Axis Bank Home Loan Add Spouse as Co-applicant

Make your spouse a co-applicant,
and her income will add
to your eligibility

Axis Bank Home Loan Maximum Tenure

Choose longer tenure loan up to 30 years

Axis Bank Home Loan Add parents as Co-applicant

Alternatively add your parents


Documentation needed to apply for an Axis Bank Home Loan

  • 1. Signed application form with photograph
  • 2. ID and residence proof
  • 3. Processing fee cheque
  • 4. Last 6 months bank statements
  • 5. Documentation for salaried applicants:
    • Last 3 months salary-slips
    • Form 16 along with recent salary certificate
  • 6. Documentation for self-employed applicants:

    • Last 2 years Income Tax Returns
    • Last 2 years computation of income

Axis Bank Home Loan Interest RatesUpdated on 21 Oct 2014

Axis Bank Home Loan Details
Interest Rate (Monthly reducing balance) 10.25% to 11.00%
Processing Fees 0.25% to 0.50% of the loan amount or Rs.5,000 whichever is maximum
Loan Tenure 1 year to 30 years
Partial pre-payment Charges Nil
Pre-closure Charges Nil
"

Overview

Buying a home at the time of a financial crunch is one of the biggest concerns of the Indian middle class. However, with different types of home loans available in the market, it has become quite easy for people to buy their dream home.


Home Loans from Axis Bank

Axis Bank has always been known for its commitment to its customers. Hence, the home loan provided by Axis Bank is also known for its feasibility and different benefits. The maximum repayment period for an Axis bank home loan is 30 years.


The limits on the loan amount are as follows:


S.No. Loan Amount Margin
1. Minimum - Rs.3 Lakhs -
2. For Loan up to Rs. 20 Lakhs 15%
3. For Loan above Rs. 20 Lakhs to up to Rs. 75 Lakhs 20%
4. For Loan above Rs.75 Lakhs 25%

The documents required for applying for the loan are:


  • Properly filled application form with photograph.

  • ID proof, address and residence proof.

  • Income proof (for self employed copy of ITR for last 2 years and CA certification of last 2 years income and if salaried then Form 16 with a recent salary certificate or last salary slip, showing all deductions done).

  • Last 6 months bank statement.

Although a guarantor is not required for home loans, in some cases the bank may need a guarantor form to be signed.

The disbursement of the loan is done in installments after judging the amount of funds needed along with the progress of the construction. The disbursement can be done to the supplier of materials or builder or seller of property or local development authority.


Why apply for an Axis Bank home loan through BankBazaar?

Any customer can apply for an Axis bank home loan through BankBazaar. Being one the leading websites, BankBazaar is associated with the major players in the banking sector. The customer can easily compare the interest rates and different schemes available while looking for an Axis bank home loan on BankBazaar. Apart from this, it also saves a lot of time for the customer as he/she is able to get the required information with the click of a few buttons. Prospective home loan customers can easily check their eligibility and monthly EMI through the home loan EMI calculator on BankBazaar.


Features of Axis Bank Home Loan

  • Balance Transfer: For any existing home loan customer, Axis bank provides the facility of balance transfer. Be it any bank, Axis bank will readily accept the transfer after the necessary formalities have been completed.

  • Attractive Interest Rates: The interest rate on Axis bank home loans is comparatively low in the market. This ensures that the customer has more to save even after paying the monthly EMIs. Depending on the loan amount, the rate varies from 10.25% to 10.75% p.a.

  • Service on the Doorstep: Most of the times, the working class does not have time to visit the branch to inquire about a home loan. Understanding this issue, Axis Bank provides the facility of doorstep service, wherein a loan executive will visit your house at a convenient time given by you.

  • Flexibility Interest Rates: For any person who understands the financial market, Axis Bank provides the facility of choosing between floating and fixing rates. The customer can easily choose any one, depending on the movement of the interest rates in the market.

  • Hassle free Documentation: The biggest fear among any loan applicant is the documentation involved in the procedure. However, this is one of the easiest parts of availing an Axis Bank home loan as there is very less documentation involved. The processing of the loan also does not take much time, which ensures better satisfaction.

Eligibility

The eligibility criterion for Axis bank home loan is based on income and age. For salaried persons, they should be working in a reputed firm or government organization. In the case of self employed, any person filing ITRs for the past 2 years can apply. The age for all individual applying should be above 24 years and less than 60 years for salaried and 65 years for professionals (doctors, CAs, management consultants) and self employed.



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Axis Bank Home Loan Reviews

80 % of our customers would recommend this bank. (477 out of 596) Write Review
Customer Reviews
Page 1 of 30 1 2 3 4 5
  • Validated User
    (0)

    The offered rate of interest is 10.1% which is reasonable. Axis bank executive has contacted me once for Home loan process and informed that he would come to collect documents but he never came. I dropped the plan of purchasing land and moreover the executive from Axis bank never turned back, they would have contacted me and updated the status but did not do so, which I am not much satisfied. In general I am satisfied with customer service of Axis bank and I would like to recommend to my friends.

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  • Validated User
    (0)

    I would say the response as well the customer service team is quite good with AXIS bank in availing home loan. One concern is my email address as well as my residential address was not registered which was a delay, however finally it was resolved. The interest rate is as per the market standard and even the processing fees is lower as there was an offer.

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  • Validated User
    (0)

    The executives of Axis bank has contacted me several times and they addressed my queries properly. Response was good from Axis bank for my home loan. The rate of interest is 10.25%. I felt fees and charges to be high however one of the Relationship Manager promised me to offer processing fee of 5,000 instead of 10,000. I got opportunity to go abroad in a couple of weeks thus I dropped the home loan application with Axis bank.

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  • Validated User
    (0)

    Axis bank is providing more loan amount while comparing to other banks. The home loan process was simple and easy, they sanctioned the home loan in a short period of time. My house did not have BRF plan thus they rejected my home loan application. I got a call from Axis bank executive and they provided enough details about loan. It would be great if Axis bank approve loan also for BRF plan housing.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My experience with Axis bank was good and I am satisfied with customer service. Home loan application with Axis bank got closed due to some document issues but I am happy with service they provided. The rate of interest 10% is not much high and not much low, it is reasonable and I am satisfied with the processing fee as well. Everything has been explained better.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The executives of Axis bank is very good and they mentioned all the things about Home loan exactly. They were helpful and I never faced any issues with the team. I am interested in investments thus I planned to get property but unfortunately I could not get the property which I am actually looking for thus I closed the Home loan application. If I get correct property sure I will come to Axis bank. I am very much satisfied with Axis bank and with their customer services. The rate of interest is bit high according to me.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Entirely my experience with Axis bank was good. While comparing to other banks, Axis bank is good and their customer service is better. After I applied home loan from Axis bank they contacted me and explained all requirements. Actually my friends helped me financially thus I canceled the application.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    When I did approach Axis bank executive for the home loan they had responded on time and explained all details in precise. The lay out which I intended to avail has approved by some other bank thus my Home loan application with Axis bank got canceled. I just spoke once with the executive thus I have no much experience to share however I am happy with Axis bank.

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  • Validated User
    (0)

    Until and unless I finalize the property I will not take a housing loan. I have just initiated the request thatâ??s it nothing much. I will opt for this after selecting the property, its a very good and nice experience I had with AXIS Bank as they were able to clarify my queries then and there itself with a very less documentation.

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  • Validated User
    (1)

    I have approached Axis Bank for the housing loan, If I recall correctly I remember getting too many calls from them. I was getting a better deal from Punjab National Bank and HDFC Ltd also. As far as I observed Axis, is good in their good way , as I got a better deal outside I switched over.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Initially my home loan application with Axis bank got closed thus I approached the nearest branch and got sanctioned the loan. They had offered rate of interest 10.25%, which I feel it as base rate. I never faced any issues and Axis bank is offering good service. I donâ??t say customer service as very good thus they should improve on it and what I suggest for them is, instead of verbal communication they could forward a written communication like mail. As my documents were with the bank already they did not ask for further documents and I yet to receive the amount.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have kept my application for Axis Bank housing loan on hold, as I have postponed the idea of taking a housing loan. I am very much happy with the services of Axis Bank . Rate of interest offered by them was very reasonable. Nothing much to comment about their services, perhaps after availing the loan I would be in a better position to comment.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Axis bank customer service is good. I did not identify the property and it would take four to five months to look on to it thus Home loan application with Axis bank got canceled. I feel the rate of interest 10.5% as high. In addition to that AXIS bank was not ready to approve my home loan request as the property is B-Khatta. As per thier norms, they do approve home loan if the property is A-Khatta.Hence, I would suggest them to process loan for B Khatta property as well.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have taken a Axis Bank housing loan its really good, because the executives of Axis bank are very responsible. They respond fast , actually the property is not finalized, it might take some time and after experiencing that I might move to Axis bank completely.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    There was an issue with regards to Axis Bank for the housing loan . I unable to finalize the property yet and that is the reason why I have kept that on hold. Executives came to my place for documents collections and overall its been great experience.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I applied for Axis Bank housing loan, after availing the housing loan I got a very poor response from them. Their charges are very high when compared with SBI and HDFC Bank. I was promised that it will take only few days to set up a savings account with the same bank, to facilitate the payment. However it took about 3 months to open an account in spite of me submitting the documents on time.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had a good experience of availing a home loan from AXIS bank in the month of Apr'2013. The processing was quite fast and my loan was disbursed within 4 to 5 days of time at a rate of interest of 10.25%. I think the rate of interest was quite high when compared to other banks.

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    took a Home Loan from AXIS BANK Reviewed on
  • Validated User
    (0)

    I am looking out for 100% funding for my housing loan. I guess Axis bank is providing 100% funding to DDA only, not for any other city. It could be better, if Axis Bank could provide such things for other cities also and interest rate offered by them is pretty normal.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I am happy with Axis bank customer service but I did not find much offers while I approached them for home loan. The executive has explained all details clearly in prior. However I felt the rate of interest high comparing with other banks so I canceled home loan. It would be great if Axis bank provide better package in respect to rate and benefits.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I have shortlisted a property, however the property what I have chosen had some domestic issues due to which I was unable to finalize that property. As a result, I was not very keen in negotiating about the rate of interest and processing though it is on the higher side. Simultaneously , I am also getting a better deal from SBH and ICICI as well.

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Customer Reviews
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