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

Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 858 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 28 Apr 2015

Axis Bank Home Loan Details
Interest Rate (Monthly reducing balance) 9.95% to 10.45%
Processing Fees 0.50% of the loan amount or Rs.10,000 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.



News About Axis Bank Home Loan

  • 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
Page 1 of 43 1 2 3 4 5
  • Validated User
    (0)

    Axis bank people were good and they responded all my questions promptly. Specially, the executives cooperated well during the documentation process. There is no difference in the interest rate of home loan because Axis bank is similar to other banks. Axis bank need to focus and attract the customer by introducing special offers in terms of interest rate.

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

    During first interaction Axis bank communicated the interest rate as 10.15% and processing charge as 5500 but during the time of disbursal they changed as 10.75% and collected 11k for processing charge. Whatever the things, that should be informed clearly to customers in the first interaction. Twice the executive visited me for paper works and thereafter I followed them to complete the process. Customer service is not up the mark for home loan process but the satisfactory thing is that they disbursed high amount.

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

    Axis bank housing loan is really good. They are doing a good job. They are very interactive they always focus on customerâ??s needs. Its an on going loan. I have been holding this for the past 3 years. I used to get correspondence from them regularly like statements, certificate of interest . When ever I want I can order for the statement and I can get that free of cost.

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

    hai , because of i am unable to find property i have canceled my home loan . till now they did't refund my amount i have paid Rs.11000 cheque to axis bank people . i am followed al most 1 year through mail and phone line also they are not responding they said we will deposit money ASAP but till now they have not deposited my amount

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

    The customer service of AXIS housing loan is not that good. I would like to suggest AXIS to be more ethical. And there must be changes of their interest rate by giving more offers. And they should give more options for the customers to choose the interest rates voluntarily . I would like to say AXIS to work more on customer satisfaction and should be customer oriented.

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

    I am overwhelmed with the proceedings followed by axis bank and Team, really appreciate the fast approval and sanctioning process with minor hiccups in disbursal but in comparison to other banks proceedings the services provided by Axis Bank is above par.

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

    I have taken a home loan from Axis Bank before 3 years and my experience was very good. The best part about this Bank is there is no processing fee and no hidden charges. In addition there is part payments facilities available. The documentation process was tough as they take much time and also the verification takes much time. The customer service offered by the Bank is very good.

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

    I have taken a home loan from AXIS Bank and I would say their services and processing is very fast compared to any other bank and the disbursal of the loan happened within two weeks. It was a one time document collection as they had explained me clearly of what documents to be submitted and their expectations. Overall it was a super fast processing. Kudos for the job well done.

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

    I actually settled the home loan by pre closing. Processing charge was there but for first five EMI they collected five thousand rupees of EMI bouncing charge. Actually ECS mandate was not sent on time from their end but I had enough balance on my account. When I was going to settle the loan amount the employees of Axis bank were not much pleasing. Infact I raised query to close the loan on 18th but they dragged to next month of 10th and for this 18 to 10 I paid interest with ECS bouncing charge.

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

    The process was really smooth and got everything as per the expectation from Axis bank. The representative who interacted with was amazing as he was cooperative. Axis is one of the banks offering less rate of interest for home loan and there were no hidden charges. Satisfied about the insurance along with the home loan as they offered as optional but really I liked to take that.

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

    Axis bank has delivered that what they promised during the initial stage. When I started with them there was some hiccups but later it's been resolved and got the amount. Axis bank was the only bank ready to consider the constructed area where they are not ready to include corridor, car parking and etc., however everything was fixed eventually. As of above said reasons there was a bit delay of 20 days in availing home loan.

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

    Axis bank was cooperative during the home loan process and it was amazing experience. The builder received the loan amount in the next day of documentation and overall it took only couple of days. Rate of interest 10.15% is floating starts from first year. EMI date is comfortable to make premium. Axis bank can reduce the rate of interest.

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

    No proper response from the executive of Axis bank during the home loan process and every time I have to visit them. The executive made me to visit him for several times to complete paper works, which made me to feel unhappy. Almost I was waiting for five months to get things done and to receive the amount. No issues with Axis bank but the issue is with the executive so satisifed with bank.

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

    I had a very good experience with Axis Bank in the process of availing this home loan. The customer service provided was very good and they were able to provide solution for all my queries.I felt the documentation process was very smooth and I didnt face any problem through out the loan process.The interest rate offered was nominal which is 10.25% but the fee which they deducted was little high its near 7000.The loan was disbursed within 10days and I feel the service was very fast and quick.

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    saravanakumar took a Home Loan from AXIS BANK Reviewed on
  • (2)

    Firstly, I would like to thank AXIS Bank for the housing loan. As other banks were not willing to offer me housing loan. Axis bank managed to offer me this loan in spite of my property was under gram panchayat whereas other banks refused to offer the loan. Also they have offered me maximum amount of loan. The only downside is the interest rate which is high. Otherwise I love it.

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

    Firstly, I would like to thank AXIS Bank for the housing loan. As other banks were not willing to offer me housing loan. Axis bank managed to offer me this loan in spite of my property was under gram panchayat whereas other banks refused to offer the loan. Also they have offered me maximum amount of loan. The only downside is the interest rate which is high. Otherwise I love it.

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    karuppasamy took a Home Loan from AXIS BANK Reviewed on
  • Very good
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , navi mumbai
    Recommend Recommended by user
    Validated User
    (3)

    My housing loan is with Axis bank. Axis bank has not reduced the interest rate so far. Interest rate offered by them was floating rate though, they have not given any consideration for that they have not reduced the rate so far where as all other banks has reduced the rate. When I enquired about that they said they are charging as per bank norms. I am getting all my correspondence from them on time .

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

    Axis Bank Housing Loan facility is very good because you can apply for it online. They are providing flexible interest rate depending on you i.e. Fixed interest rate and Floating interest rate which way rate are changing. You can also avail a home loan with up to 30 years tenure and also give you the benefit of paying less EMI per month. The rate of interest is also low as compared to other bank i.e. 10.15%. Processing time is also less, it took around 6 to 7 days to give the loan.

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    gaurav took a Home Loan from AXIS BANK Reviewed on
  • Validated User
    (2)

    Axis bank housing loan process is really good. I am employee of Axis bank they took around 6 to 7 days of time to offer this loan. For other customers they take around 14 to 15 days of time to offer the loan. The rate of interest offered for others was around 10.15% and for me its hardly 6%. Processing fee charged by me was rs 2030 for others is 2500 and these were the major difference.

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

    I have got a housing loan with Axis bank. They offer outstanding customer service. Its a hassle free loan. Even at the time of processing the loan they did not ask for many documents unlike other banks. It is an ongoing loan. I used to get statements and all correspondence on time.

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