Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 422 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 02 Sep 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

78 % of our customers would recommend this bank. (330 out of 422) Write Review
Customer Reviews
Page 1 of 22 1 2 3 4 5
  • Validated User
    (1)

    AXIS Bank Home loan to start with initially the documentation part , was a bit complicated as I was not much aware about that. I never have to go to the Bank, to get all the documents signed. Inti ally, there was no customer care, no toll free number. Later, they came up with the idea of toll free number , which made my life easier and its very easy for me to approach them now.

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

    Axis Bank Housing loan: When i applied for the housing loan and the customer service executive proactive involved in my housing loan process they collected the documents as per my convenience. They also connected with the builder to get the NOC certificate with out troubling me much. I got the loan amount approved with in twelve to fifteen days.

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

    I have taken a home loan from Axis bank in the year 2014. Service is very good, builder helped me a lot. With in a short time frame, I was able to get the loan amount. There was no hidden cost, its very transparent. I have started to pay my EMI have no issues with them, as there is no cost being added to it

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  • Validated User
    (0)

    Feedback for Axis Bank home loan iswhat ever is going on is good rate of interest the loan amount was given was good it was good according to my salary is good which was offered for me is good according to the market is also good tenure is good executives was calling me time to time when that was doing a correct jobry is good which was offered for me is good according to the market is also good tenure is good executives was calling me time to time when that was doing a correct job

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

    Am saying that I was not satisfied with the AXIS Bank Home loan response as there was a delayed response the issues I faced some problems, the facilites are good Axis Bank people were calling me after a long time mean while I contacted some where else.

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

    I am not very satisfied with Axis Bank Home loan the services the reason why because he is not picking up the phone and he is not returning my documents I have received the documents now but the executive is not responding he stopped pick up my calls and not responding through mail also the proposal is good processing fee is good but interaction is not good they should response to the customer whether its approved or not

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

    I would say the services are not that much good. There were lot of issues with this bank in terms of processing. My file was sent to head office branch due to miscommunication and its been since more 4 months, my loan amount was not sanctioned.When it comes to normal banking services, its quite good but when it comes to loan processing, its not up to my expectations. Interest rate offered was 10.25% and the processing fees was 11200.

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

    AXIS bank processing for the loan is too faster comparatively with other banks. They are charging 10.50% with processing fees of 0.5% of the home loan. It was around 5 days for sanctioning of the loan from the date of document submission. Mr. Chandrakant, the relationship manager who helped me in loan processing and wanted to appreciate him for his services.

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

    Axis Bank is a nationalized bank and no hidden charges when compared with other banks, the processing time taken by the bank in processing my housing loan it was very fast , the documentation was very simple and i got the loan amount approved with in ten days and i got the sanction letter in fifteen days.

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

    The overall experience with the Axis Bank when i applied for the Housing loan it was good, the support from the customer service executive was very positive and he helped me out in competing the whole process of the application. I got the loan amount sanction with in four to five days.

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

    Axis Bank Home Loan I have not taken a home loan with them, they asked for more documentation. I need at least 6 months time to arrange for those documents, that is why I have not taken a home loan and no other concerns and their customer support is ok .

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

    I don’t have any problem with Axis Bank Home loan what happen was i was parallel working with IOB Bank i got a very less interest rate in IOB that is the reason i went with that particular bank i opted for less interest rate when compared with Axis interest rate is very less with IOB not really i did not face any problem with axis meanwhile it hap pend with IOB when axis bank called me i said this is the situation

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

    Axis Bank Home loan its very experience, they took 6 days to sanctioned my loan, interest rate was 10.25% it was same they are considering standard rates with service charges, they are giving 85% loan amount which is best, documentation and charges was above 11,000/- including service tax, their is no issues, documentation was also easy. interest was bit high but loan amount is good.

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

    AXIS home loan through other representatives i have taken this and it was through one my friend i have taken this home loan but not through bank bazaar initially they said i am eligible later they have given some thing less than that amount its very difficult to chase them .

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

    i did not go for Axis Home loan its fine and quite ok and I have taken a loan with SBI as it is a Government Bank they are providing good interest rates bank and that why i taken loan with SBI they would have provided a better rate of interest dats about it

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

    Axis Bank Home Loan they are responding very well interest rate was 10.25% its quite same as other banks, i had approval straight way, i got loan approval in 8 to 12 days, i have already got the documents they contacted me and what i need to submit, the amount has been sanctioned i am waiting waiting to get credit in my account.

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

    The offer was better at SBI. Nothing much I can say about Axis Bank Home loan. I contacted HSBC, HDFC and CITI Bank and all the other banks as well. I would rate them average response was good in the beginning and that is why i have rated them as 2.5, but offering is not so good.

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

    Axis Bank Home Loan prompt response, it was fast with in 5 days i got the approval, they took 11000/- documentation and for interest rate was 8.25% it was less when compare to other banks, charges are same as other banks, interest rate was related to RBI so it was good.

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

    AXIS bank is good in terms of services. In terms of response, customer service is good. It was 10.10% interest rate with normal processing charges. They have told me 10-15 days to disburse the loan. They have collected the documents and its in process.

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

    Axis Bank Home Loan The executive told about few things at last moment like insurance policy and other details they should inform this earlier and made compulsory, the amount disbursed part all went as what they said, interest rate 10.25% my sister is working their so i have some benefit, documents i submit quick so they work accordingly loan approval done 10 days.

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