Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 727 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 23 Dec 2014

Axis Bank Home Loan Details
Interest Rate (Monthly reducing balance) 10.15% 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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News about Axis Bank Home Loan

  • Axis Bank Home Loan interest rate
    at 10.50 for next 20 years

    Axis Bank home loan is now available at an unbelievable offer of 10.50 percent interest rate for home loan of twenty 20 years tenure. The offer is only for a limited period of time and is looking to shake up the affordable home loan segment which is applicable for all home loans up to 50 lakhs. The dhamaka offer is just a shade of 25 bps, or 0.25 per cent above its current lending rates.


    Axis Bank President for Retail Lending Jairam Sridharan said the decision behind the offer was taken in consideration with principles. Yes, the company had to choose between bearing the cost on its own or passing it on to the customer.


    The one of a kind loan offers also has the flexibility of switching from fixed to floating rate of interest for a nominal fee and also has foreclosure benefits at the cost of 2 percent of the balance loan amount. Axis bank also clarified that the RBI mandate for zero pre-closure charges is only applicable for floating rate home loans and not fixed rate home loans.


    10th December 2014


Axis Bank Home Loan Reviews

Customer Reviews
Page 1 of 37 1 2 3 4 5
  • Validated User
    (0)

    The quoted loan amount was 22lakhs and as per my expectation Axis bank delivered. Interest rate is good and the paper works were easier. Verification part was smooth for home loan process and charges are normal. Whole process was smooth and the interest rate is 10.15%.

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    muralidar took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (2)

    AXIS bank home loan services was quite ok however documentation process kept on dragging. They had kept on calling and was asking the documents which was not a single shot. Rate of interest is as per the market rate. It would be better if the documentation process happens at a single point of time.

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

    Approach was nice and all descriptions were mentioned by the executive clearly but actually I did not find the property so I unable to take home loan. Interest rate they said as 12% but Axis bank needs to improve their communication as it lacks.

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

    Customer service of Axis bank is quiet impressive and they called me frequently to give the status. Still they are calling me so I feel happy. Axis bank people gave time for me to analise which is good part. The only concern is that the rate of interest is fixed for fixed tenor, which I am not satisfied and I felt the rate of interest 11.75% to be high thus I dropped the home loan application with Axis bank. Other than that I am very glad about Axis bank.

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

    I got better feedback from one of my friends thus I too recommend Axis bank. My experience with Axis bank was good and the executive has properly provided required information. The required documents were mentioned clearly in prior. Actually we are relocating to some other place thus we planned to stop Home loan with Axis bank. The rate of interest is 10.4% but I feel as bit high because all other banks providing best than this. However, I am satisfied with Axis bank.

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

    Axis bank took 20 to 25 days to process the home loan, which I felt a long process when compared with other banks. The executives did not clear the matters of home loan in precise. I am not much satisfied with the follow up from Axis bank thus they could improve on it. I never got a call from Axis bank for to give the status whether they can process or not.

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    amit took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (2)

    AXIS bank home loan services was good. Within a months time, I did get the loan handy and response was quick. Comparative with other banks, interest rate is great. There is no pre closure charges which is quite attractive option.

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

    Services was fine and the executive of AXIS did followed up on regular basis. The only concern with this bank in availing home loan was that as the existing customer, I didn't have any discounts in terms of processing fees, however it was not done as the offer got closed. Rate of interest is more competitive.

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

    Services of AXIS bank in disbursing home loan was fine. However, I was not much happy in terms of processing time which was quite delayed and it was due to the dragging of documentation process. Rate of interest is quite ok and almost the same like other banks. AXIS bank started Pre-EMI option where the principal amount could also be added.

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

    Nice experience in availing home loan from AXIS bank. The executive Rahul Kanna from AXIS was too cooperative and interactive in the overall processing. Rate of interest is quite affordable. Overall I liked the services.

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

    Everything was quite smooth with AXIS bank in availing home loan. It took 20 days of time to disburse the loan. It was prompt services rendered. Am quite happy about their terms and conditions as well as customer service and response too.

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

    The biggest drawback with AXIS bank home loan services is the processing time which was longer. Initially, it was committed one week of processing whereas it took 3.5 weeks which is quite disappointing. Rate of interest is pretty awesome with 0% pre closure charges which is a good option.

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

    It was a very good services from AXIS bank in availing home loan. The executive Dhananjay and Manager Mr.Vikram Thakur was especially good and did help me a lot in availing loan. I like to appreciate them for the entire support provided.10.15% is the interest rate which is comfortable.

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

    AXIS bank is very prompt in services when it comes to home loan part. It was less than 48 hours and it was pre approved loan. Whatever the amount I requested, I got it with 0% pre closure charges. Overall happy with AXIS bank services in terms of customer service as well.

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

    Customer service was very good when I availed my home loan from axis bank. The loan approved for 24 lakhs whereas they reduced for 22 lakhs due to some reasons. Response was not that much perfect from them. They collected some cash for some charges without any clarification . They told it is for pranking charges. I still feel that the money should taken as a cheque not cash . It would be nice if they bit more transparent in their charges

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    lionel took a Home Loan from AXIS BANK Reviewed on
  • Validated User
    (1)

    I availed home loan from Axis bank by visiting my Relationship officer. Actually RM shared my number to the loan officer and followed that they processed in 2 days. Executives collected documents in couple of days and the entire process was completed in a week time. At the initial stage I been informed the rate as 10.25% and the executives suggested me to wait for sometimes to get lowest rate than the offered rate. Thus they revised interest to 10.15%. I am highly satisfied with Axis bank. Even the processing charge has waived off.

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

    Post loan, Axis bank is very poor in providing service to customers. Specially when it comes to reduction of rate of interest, they simply keep on delaying your request. They neither answer your emails properly nor schedule any call backs. By doing this they try to earn the more profit at higher rate of interest. To increase RoI, they just drop one way communication but to decrease when customer challenges their RoI with market, they set a process which takes more time than taking a fresh loan outside. Given a chance, better look in market for lower interest and change you loan to other providers.

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    mahan took a Home Loan from AXIS BANK Reviewed on
  • (1)

    The main reason why I have taken a loan from Axis Bank is because of the less rate of interest and processing fee. Also they dont charge any foreclosure charges, its an added advantage and they only took a weekdays time for process the request. More than all , they did not ask for more documents and they asked for very minimal documents to process the request.

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    sumit took a Home Loan from AXIS BANK Reviewed on
  • Quite average
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , bangalore
    Recommend Recommended by user
    Validated User
    (0)

    AXIS bank home loan services is quite average. The executive assigned was cooperative however the bank had requested for unnecessary documents. Personally, I felt there was lot of documents which was requested whereas legally, its not required. After document submission, it was around 1 week to confirm the status of physical verification. Other than that, pre approval part was all good and service charges was higher due to my property.

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

    My home loan got disbursed from axis bank within 15-20 days of time . They offered me the better interest rate which was quite competitive as per the market . Documentation part was very easy in axis bank. I amvery much happy about their services

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    balakrishnan took a Home Loan from AXIS BANK Reviewed on
Customer Reviews
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