Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 785 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

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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 01 Feb 2015

Axis Bank Home Loan Details
Interest Rate (Monthly reducing balance) 10.15% to 10.40%
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 40 1 2 3 4 5
  • Validated User
    (1)

    Charges of AXIS bank in terms of home loan is quite good and competitive. The interest rate is 10.15% which is reasonable. Recently, I had taken up the loan where I get charged for pre closure.

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

    The customer service team response as well as the interest rate is the best with AXIS bank home loan services. There is also a part payment option with 0% pre closure charges. Overall I would say Excellent.

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

    In terms of home loan with AXIS, interest rate was quite reasonable and even the processing fees was waived off which is added advantage. Still now, the paper work as well as the processing was simple. Even received the documents on time.

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

    AXIS bank offered 10.15% interest rate for the home loan.I received the prompt response however the loan amount provided doesn't fulfill my requirements. I did request for more amount, however they were not able to provide it. There are no pre closure charges.

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

    Earlier, my home loan was with other bank which got transfered to AXIS bank. As the interest rate was higher with the previous bank, I approached AXIS for better interest rate. There are no pre closure charges as well. The charges were all reasonable.

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

    I am having a home loan for 1 year now with Axis bank which is good. The rate of interest was 10.25% which is reasonable. The services was good. The customer support and the response was good and there is no issues as of now. They resolve all the queries on time. I applied for the loan on 27th Dec and on 12th Feb I got the loan which was an awesome response. The processing fees was Rs.9000 approximately which was high and can be reduced.

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

    I am holding a housing loan with Axis bank. Service provided by them was really good. Response provided by them is also good. When I did not get any response from HDFC LTD AXIS bank responded me at the right time. They took around 10 to 15 days of time to respond . The only drawback is the rate of interest.

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

    Due to certain issues, I chose AXIS bank for home loan. The deal was better and good. The requirements was fulfilled and there are no additional charges levied. It would be helpful if pre sanction of loan procedures could be more faster.

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

    AXIS bank is very good in terms of home loan. They are keep on tracking me about the status. In terms of documentation, there is lot of support. Around 10.20% is the interest rate which is quite ok and overall services is great.

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

    I am having a home loan for more than 4 years now. It was simple to apply. Everything was fine and smooth. The rate of interest was high and it can be reduced. The charges they levy are as per market.

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

    Without verifying our documents and bank statements they have closed our loan. Without informing any information we received sms to your home loan is closed. Our's is a business. This business cannot be registered to any govt. So it is very disappointed for us. Govt. has provided lot if facilities to public but, with this small business govt. are not cooperating with us.

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

    AXIS bank home loan experience overall is good. The property was out of state and because of that, due to which I faced issues in terms of customer service team who were not trained and skilled. I was losing time due to these issues where I did get the loan very delayed.

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

    AXIS bank offered 10.15% as the interest rate for home loan. Processing fees is quite reasonable but can be lower.. In these services, I need not call them and they were much prompt. Overall services is good.& if in future i will require any such service i will definitely will prefer them.

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

    Services was really good and faster with AXIS in terms of home loan. They are providing lesser interest rate compared with other banks. Customer service executive did cooperate well till the disbursement. I need not visit the branch as everything was at doorstep.

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

    It was a good experience in availing home loan from AXIS bank. Services was totally good however disbursal was delayed which is quite disappointing but in the end everything was resolved quite nicely. Customer service executive Mr Vishal Amber did intimate everything and overall pretty fine.

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

    Availing home loan from AXIS bank was good. Customer service executive was too cooperative and interactive. I would say the rate of interest is quite the same offered in all the banks. Pre closure charges is been deducted which is affordable.It would be better if they stick to the commitment in terms of disbursing the loan.

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

    Regarding AXIS bank home loan, processing is very faster and quick. The person Rahul, from AXIS provided a very good support and guidance. The loan was disbursed within 15 days of time. I would say AXIS bank is so genuine and very good rate compared with other banks. As well as they are transparent.

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

    Experience with AXIS in availing home loan was good. The person who had been assigned was too wonderful and entire process was quite smooth. I had a very very good experience with AXIS overall. It was certainly competitive rate of interest.

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

    Overall experience is extremely good with AXIS in availing home loan. The person whom I contacted was too helpful and friendly as I did get a full support from him. Rate of interest is good and especially I would like to give a sense of appreciation for the customer service team. Entire processing is extremely quick which is unbelievable.

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

    I have availed home loan with Axis bank two times in a span of 6 years. The experience was smooth both times. Processing times, convenience of repayment , charges were good/ reasonable. Dont have any complaints. The only possible issue I can think is that interest is charged from the date the DD is made , not the time it is in customer's hands. This at best adds 1 days' interest( more if there is holidays/weekends in between). Something to watch out for when you are availing large loans. But that is common across the banking industry and definitely in control of the customer. All in all , it is a better bank than the rest lot.

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    santhosh took a Home Loan from AXIS BANK Reviewed on
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