A "low interest" loan shouldn't mean you have very little interest in paying it back!

Axis Bank Home Loan

Axis Bank Home Loan
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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% to 90% 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 27 May 2015

Axis Bank Home Loan Details
Interest Rate 9.95% to 12.05% (Floating Rate)
Processing Fees Upto 1% of the loan amount subject to minimum of Rs.10,000/-
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.


New Axis Home Loan Interest Rate:

If the axiom that ‘no home loans are created equal’ holds right, then Axis Bank Home Loan is definitely one of the privileged leaders of the pack, offering interest rate starting from 9.95% to 12.05% (floating rate), a definite cost-conscious option, and commanding massive homegrown interest.

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.



News About Axis Bank Home Loan

  • Axis Bank, Lakshmi Vilas Bank Follow Suit, Trim Base Rates

    The recent directive by the RBI instructing banks to lower base rates has been met with almost instant compliance. Soon after the regulator issued its monetary policy statement for the ongoing fiscal year, major banks like SBI, HDFC and ICICI slashed their interest rates with immediate effect. Next to follow suit was Axis Bank, who snipped its base rates by 20 bps and is currently offering a revised interest rate of 9.95%. Lakshmi Vilas Bank too trimmed its base rate by 15 basis points and will bring a new rate of 11.10% into effect by April 14, 2015.


    Given that deposit growth is currently at an all-time low, at 11.4%, and with small savings offering an interest rate of 8.75%, attracting deposits has already become a challenge for banks. Considering this reason, analysts are predicting further rate cuts to be highly improbable in the near future.

    28th April 2015

  • Axis Bank aims at Affordable Housing Segment with Fixed Home Loans

    Axis Bank, the third largest private sector lender in India, has introduced a fixed interest rate home loan scheme in a view to increase its focus on the affordable housing segment. This fixed home loans plan can be availed for loans up to Rs.65 lakhs in metros and Rs.50 lakhs in other locations. This is for a tenure of 20 years at 10.4% interest. Axis Bank also has another comprehensive home loan product that can be accessed for amount more than Rs.50 lakhs with 11.75% interest.


    After recently raising Rs.5700 crores by selling infrastructure bonds, Axis bank has planned to concentrate on affordable housing segment. Because interest rates can unpredictably swing upwards in coming years, locking in to fixed rate loan schemes would give a great financial edge to the borrower.

    27th February 2015

  • 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

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Axis Bank Home Loan Reviews

Customer Reviews
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  • Validated User
    (0)

    My home loan through axis bank took months time for the disbursement. The representative helped me a lot in terms of the documentation process as he was very cooperative. The charges are very high. The service is convenient with the Axis bank.

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

    I took the home loan from the axis bank. the process was quite good. The representative came to my place and collected the required documents. The processing of the loan was good with all the intimation. They approved the loan within 3 days. The charges were competitive.

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

    This is the worst bank with zero customer support and one-way communication. They just have one customer care number who just take your complaints with no solution and a mail will separately come with no recourse... raise fresh request again. never ending cycle.

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

    I have taken a home loan from axis bank. The service of the bank is very good as if we have any issues and walk directly to the bank it will be solved soon. The interest charges were slightly high but later it was revised and it became competitive with other banks.Overall nice bank.

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

    I am really disappointed with the service provided by Axis Bank while getting a home loan.They are really nice to the customer until he is trapped and he doesn't have any other option for loan but once he got trapped and depends on the Bank they are making customer to run behind the bank for loan process.The interest rate offered was good and I wont recommend others to get service from Jaya Nagar Branch because they provide poor service.

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    ashish took a Home Loan from AXIS BANK Reviewed on
  • Validated User
    (3)

    I got the home loan with Axis bank for the rate of interest as 10.15%.I am very happy with that.They provided good response , quick turn around time, good customer service, no hidden charges.The only sad part is their processing charge is little bit high.

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

    I had a good experience with Axis Bank while getting this home loan and the customer service provided was very good.The interest rate offered was 0.5% different from the nationalized bank and I feel they are customer oriented Bank so I will surely recommend this Bank

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

    I availed home loan from Axis bank. They called me very immediately. follow up was good on a punctual time they responded me. The only thing is processing fee is high compared to the other banks hence can be improved. Within 15 days my loan got disbursed. Over all it is good experience.

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

    Since it is my home bank so availed home loan. At the initial stage I was informed that they just collect 5k for processing fee but before disbursement, they asked me to pay 5k stating as some charge. Actually I was unable to do anything at that moment so had to proceed further. On whole I paid around 11k only for processing charge. Axis bank don't have margin on interest rate as they gave 10.15%. Sales executive who visited me at first was not at all knowledgeable and later I contacted manager to complete the deal.

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

    I did not find any difficulties with Axis bank for my Home loan. As I havenâ??t dealt with the bank directly where as I went through an agent. There was a confusion initially in my loan amount as the loan was reduced after the survey was taken for the property and I was approved a lesser amount. Later the loan was sanctioned on the basis of property.

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

    I got my house with the loan of Axis bank as 9.95% as rate of interest.Its the pre approved loan with tenure of 25 years.There is fore closure also available that can be done even after a day the loan got disbursed.Its the simple and very good bank.

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

    The documentation process was very easy for the home loan which I have taken from Axis Bank. It took some time for the developer to submit few documents and within a month it got registered and my loan got disbursed within 15 to 20 days. One drawback about the Bank is I have to visit the Bank each and every time for all my queries as there is no proper customer care service

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

    It is the worst bank. Don't ever opt for housing loan from Axis. They are unethical. Recently I opted for housing loan and I asked them to process with 15 days time and they have agreed for it. So, on the date of registration , they didn't turn up with DD. They said system is down. This shows how professional they are. This is not the only incident. Un knowingly, they have processed insurance that I haven't opted for. I had to fight for 2 months to cancel the premium. Finally, It got cancelled. Now I have asked them to pay the remaining amount , they did not agree for it. they said , it will get adjusted to premium amount., I have escaled to Sandeep ( He is the axis bank home loan head in Bangalore). He don't know how to treat the customer to have meaningful conversation. Overall I would say, it is not worth to take loan from Axis, Even I heard people are complaining about extra money getting deducted from their Account.

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

    I had sanction loan from Axis Bank. But it is taking 11+ days to disbursement. I was told that it will be done in 3 days. Everybody work as govt org. I am surprised that a private emerging bank is so slow. I am bearing all pressure from seller. This has to be communicated to customer clearly that disbursement will take 10+ days. Pls don't misguide anyone. Also very important----- All the charges taken from bank are not clear and not in written format. This is very irritating and unprofessional. Hope Axis bank will take these points seriously.

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

    Home loan application from axis bank was closed as the bank asked to provide the pay slip which i was not able to give. But the axis bank executive helped me a lot to process the application.Axis bank has made the banking very easy now a days!!!!

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

    The Builder of the house instructed me to take the loan form the LIC thats why the home loan application form axis bank got canceled. They are quirk in response and also approaching the customer. Documentation part was very simple with mandatory and common proof.

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

    I was not able to finalized the property which i have to purchase. So, i closed the application of the home loan from axis bank.The approached of the bank was good and also gave a good response towards my loan application. I already have an saving account with axis bank.

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

    The home loan amount offered by the axis bank was not sufficient so, i closed the application. Axis bank is good as i was previously holding a salaried account.The main facility is that Axis bank has many atm centers within kolkata trough which we are benefited more.

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

    The home loan application from axis bank got canceled a as my salary was very low. Axis bank did not calculated my extra income for the process of the loan which might have fulfilled my requirements. Axis bank has a very good response and service. I have recommended this bank of for some of my relatives to get the loan.

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

    As i got a better option form other bank with the low interest rate so i rejected the home loan application from Axis bank.In the service sector axis bank does the best job.If i get a chance to refer any bank for the loan i will go ahead with axis bank.

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    amit took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
Customer Reviews
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