Axis Bank Home Loan

Axis Bank Home Loan
 4.0 / 5.0   by 143 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 25 Jul 2014

Axis Bank Home Loan Details
Interest Rate (Monthly reducing balance) 10.25% to 10.75%
(I-Base – 10.25%)
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

Customer Reviews
Page 1 of 8 1 2 3 4 5
  • Validated User
    (0)

    I got my Home loan disbursed two months ago and still now I haven't faced any discrepancies and the processing was pretty fine as I had account with this bank. Initially based on my salary slip, i was intimated that the whole loan amount would be given but later on it was quite less which was not satisfactory. EMI date is flexible and their on line banking needs to get updated to know about my monthly payments information, due date etc.

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

    I really had a nice experience of availing a home loan from AXIS bank last month. Very simple & easy documentation and the process was completed within 2 weeks. Rate of interest is good however the processing fee was quite higher than other banks.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Good experience
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    LOKESH HARIKRISHNAN, bangalore
    Recommend Recommended by user
    Validated User
    (0)

    I had to post pond my plan of availing a home loan from AXIS bank as there was some confusion in the documentation of buying a new property. Documentation with AXIS bank is fine and the processing time was average. Rate of interest & processing fee are quite higher than nationalized banks. Best part is the last one year is interest free. Overall experience was good.

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

    I am having AXIS bank housing loan . I can say it was just an average in service . It would be nice if they can talk nice and pleasant to customers in customer care. And they haven't provided the interest rates which has promised. Floating rates also should be more and more transparent. When I enquired about the charges they are not able to justify it. I have offered 9.25% initially and finally when it was 9.75% in initial month. And it drastically increased to 11.25% finally I closed that loan. Now I am taking 4 months to transfer this loan and took long time to get my documents. They should really work on their service towards charges and proper communications.

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

    It was a nice experience of applying a home loan with AXIS bank through bank bazaar website. I feel comfortable banking with AXIS bank and the services are prompt. Documentation was common among all the banks and the processing time was around 7 - 10 days. Rate of interest was little higher than other banks.

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

    I have approached AXIS Bank for a home loan they have not given me a proper reason for the decline , they initially contacted me for the home loan and they sent their executives to collect the documents from me and post which there was no reply from and their tracking number too is incorrect and as there was no reply for them for quite some time I presumed that its been declined.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Very Good
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    SACHINKUMAR NARSINH BHAI DARJI, vadodara
    Recommend Recommended by user
    Validated User
    (3)

    I am overall satisfied with the housing loan with the Axis Bank the processing and the documentation was very easy and the customer service executive Mr Manish who took the initiative in completing the process in very quick time and the whole process got completed in ten days. The bank bazaar web site i had a great experience and it was very easy access the customer service executive are very quick in respond they are excellent.

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    Fees & Charges
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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Good
    /images/customer_review/default-unknown-person.png
    MADASAMY RAJA, chennai
    Recommend Recommended by user
    Validated User
    (3)

    I applied for the housing loan from Axis Bank the processing and the documentation was very good an the customer service executive Mr Karthikeyan who took the initiative and guided me in completing the process and the whole process got completed in twenty days and the EMI was affordable.

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    Fees & Charges
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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (4)

    I applied for the housing loan from Axis Bank i would say that the initial process was very good but it took too long time and every week they came up with some issue asking for new documents and the customer service executive are not flexible to the customers need and the whole process got completed in one and half month that was really a disappointing service.

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    Fees & Charges
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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Good
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    SANKET PRADEEP KUMAR SHAH, surat
    Recommend Recommended by user
    Validated User
    (3)

    Axis Bank housing loan the processing and the documentation was very easy and it was very transparent and Mr Darshan who helped me in completing the process and the whole process got completed in twenty days and little disappointing thing is that the processing fee was little high and schedule repayment chart is not yet been delivered from the bank.

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    Fees & Charges
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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User

    AXIS bank home loan processing was quite good. It took around 1 week for processing and all the documentation, verification was taken care by the executive who supported and guided, communicated well. He came to my office and collected all documents and i would surely appreciate the bank executive. I would tell them to maintain their consistency and all the on line information was good.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Amazing
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    JATIN KOCHHAR, ghaziabad
    Recommend Recommended by user
    Validated User

    I applied for the Housing loan from Axis Bank the processing and the documentation was very quick and good , the customer service executive who took initiative in completing the whole process till my loan amount got approved and was updating on my status, the EMI was affordable.

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

    I am holding a Axis Bank home loan , the processing fee is very less and there was no prepayment charges and they are very clear in providing the information about documentation procedure and it would be really good if they can revert back to me through written communication about the status.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Very Good
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    ABHISHEK TIWARI, indore
    Recommend Recommended by user
    Validated User
    (0)

    I am overall happy with the processing and the documentation of Housing loan with the Axis Bank it very nice and it was done in a proper manner and executive Mr Tiwari who was helping me in the loan process till my loan got approved the whole process got completed in eight working days and the EMI was affordable.The Bank bazaar web site was good and it was pretty much easy in the navigation process and the customer service executive was quick and prompt in their response.

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

    I had a very disappointing experience with the Axis Bank housing loan the processing and the documentation was very late and customer service executive was not responding for the any required details and the it took three months for the loan to get processed and there where many hidden charges. Needs a improvement on the overall service.

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

    Axis bank home loan is really quick it is the fastest one as I got the loan amount within one week . I have no issues with the customer service team, process was very fast they gave the promised interest rate and fees and charges are also quite nominal

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

    Speedy process done by Axis bank home loan they have completed the loan process within in 10 days . I got the loan amount on time which was very quick, the customer service is good and they provide excellent service The overall process was really smooth.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Very good
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    MAHENDRA MADDHUSUDAN RAUT, mumbai
    Recommend Recommended by user
    Validated User

    I applied for home loan in Axis bank after applying in the next 15 to 20 days I got the loan approved and the loan amount was disbursed, also the interest rate and processing fee provided by them is the best in the market and it cannot be compared with other Banks.

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

    My experience with Axis bank home loan is not up to the mark it took about 30 days time for me to get the loan and the customer service executive did not guide me clearly what all documents is required to process the request and towards the end they asked for too many documents which is truely not acceptable.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Good
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    NILESH CHANDRAKANT JADHAV, hyderabad
    Recommend Recommended by user
    Validated User
    (0)

    Axis bank home loan is good, they made a number of attempts to contact me regarding the loan, they explained me about the complete process, they gave me the next steps clearly they gave me a clear picture about the documentation, although they tried a lot to me help me in documentation I was unable to get the loan but its a good try, they have tried to do things in my favour so I am happy with their overall service they have rendered

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