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Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 808 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 Mar 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 41 1 2 3 4 5
  • Validated User
    (0)

    Interest rate was too high in Axis bank where they mentioned like 10.4% in monthly reducing basis. By hearing interest rate, I did not discuss about further details of processing charge and other charges. However experience was good during home loan process. Suggesting Axis bank to give competitive interest rate to customers. No issues in customer service as the executive gave all information.

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

    I was expecting loan amount of 18lakhs and also requested the same to Axis bank but basis my eligibility they were only ready to provide 14.50lakhs, which is not sufficient for me so the deal got closed. I donâ??t want to mock Axis bank because atleast they were ready to give 14.50lakhs but other banks were ready to give less than this. Executives were good and they handled politely. Comparing to other banks, interest rate is less and charges are normal for home loan.

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

    Property which I was ready to buy did not come under list of Axis bank and moreover it was not registered property so they could not process home loan. I got good feedback from Axis bank and they fulfilled all our queries. On the whole I am much happy about Axis bank.

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

    Home loan experience was good but rate of interest was high thus I planned not to go with Axis bank and transferred to some other bank. Now a days services are not that much good from Axis bank so they have to work on that. I am existing customer of Axis bank so feeling satisfactory.

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

    Axis bank is good but unable to go with them for home loan because builder came with better offers with different bank. Actually the bank which offered by my builder showed me the offer in EMI. To say in concise, till I get the portion of flat I no need to pay EMI for twelve months. However I not yet finalized so the deal got canceled. I stopped the deal with Axis bank before submitting all documents so not sure about interest rate and charges. Interaction and communication was good with Axis bank. Though the online service is good, Axis can improve a bit.

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

    I have account already with Axis bank so my overall experience was good. Nothing went wrong with Axis bank. Actually the builder whom I associated was in connection with some other bank so I could not take home loan with Axis bank. Not satisfied with customer service of Axis bank because for inquiry I asked the executive to come my home but they did not come on committed time.

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    pramit took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Better!!!
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , bangalore
    Recommend Recommended by user
    Validated User
    (0)

    The thing is that, Axis bank was not ready to reduce the rate of interest thus unable to avail home loan with them. Interest rate is not competitive with other banks where it is high. Apart from that the executives were approachable. Axis bank should reduce the rate of interest and have to process home loan without processing charge.

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

    Axis bank is good and satisfied with home loan department. They took near about a month to credit the loan amount. I just availed this home loan to construct home. Offered interest rate is 10.15% and processing charge is 1%. I have no idea about partial payment option. Employees of Axis bank is good and I have good relationship with them. I took this loan in my spouse name.

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

    I had discussed with executives of Axis bank for home loan where they informed that the property that I have chosen is old and location of property is not under the list. I informed the officers that the property is MCF approved and I were ready to provide electricity bills and other bills but they were unable to process the loan. Processing charge for home loan is very high in Axis bank than other banks.

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

    I applied home loan with Axis bank and received call from them but at that time I informed the executives to call in month of January but they did not approach thus I planned to take home loan with some other bank. In beginning approach was good from Axis bank and they gave good service but not discussed about interest rate. Now I cannot recall the fee and charges but it should be nominal. Axis bank is doing good but great if they remain the customer on correct time.

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

    I did not have any issues with bank as Axis bank is wonderful. Frankly speaking the documentation process on home loan was too heavy as the sales executive asked to submit the documents for several times. He did not collect the document in one goal. Whenever I do contact him, he asks for documents, which irritated me. Truly the person had no clarity on the required documents and he gave false commitments. Apart from this fee structure is quiet good in Axis bank. The exact picture of processing charge is 10,000 but at that time some offer was going on so they just collected 1000 for the loan amount of 20lakhs. My suggestion is, the executive should be knowledgeable about the product.

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

    There was some communication gap between the builder and the Axis bank so it took a long period to get disbursement. Like in 21st of November I submitted the home loan application but I got the amount only during 2015 of January. I did not get proper status of the application so I have contacted them personally to understand the things that going on. Other than that the interest rate is normal where it is 10.25% and it is floating. If I maintain payment regular without any back log, the last 12 months EMI will be waived off. Suggesting Axis bank to give proper status of the application to the customers.

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

    Personal experience with AXIS bank in availing home loan is too good. Services was too quick however there was more intervention from my side to continue the services as faster as possible. The sales executives needs to get trained about the overall process.

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

    Experience with AXIS bank in availing home loan was good. The disbursement was done within 20 days and even the loan amount was credited pretty much soon. The deal was up to my expectations. I liked the processing which was easier and comfortable.

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

    I approached AXIS bank on my own and I got the home loan. AS the builder had a contract with AXIS, I was about to go there. Everything was done very neatly and clearly. I received the sanction documents through courier within 45 days. Everything was convenient however rate of interest is the concern which is at higher end.

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

    Minimal rate of interest as it is 10.15% and this is floating for the whole tenure. I did not do anything to get home loan with Axis bank as I submitted all documents and the process was fast, followed that in a week period they disbursed the loan amount. They always responding good and I do have separate contacting person where he is responsive.

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

    Interest rate is 10.45% and it is floating for entire tenure of 15 years. They do have some charges for home loan but that is affordable. There was some issue in verification part as they asked for lots of documents but all the banks will ask for the same documents so no problem. Loan process was smooth with Axis bank and quiet good with the processing time as they processed in 15 days.

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

    AXIS provides good offer for home loan. They provide a good support and I would like to appreciate their customer service team. Documentation process is flexible and inquiry officer is too polite and providing all information in detail.

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

    AXIS bank provides better customer service when compared with other banks. In terms of follow up as well as the response, they are quite better. There are no excess charges for home loan and they did charge only for the sanction letter. The way they deal with the customers as well as treat them is the best.

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

    It was good but the only one thing is that inspite of submitting all documents, it took 3 weeks for home loan processing with AXIS. Interest rate is 10.15% which is attractive and there are no pre closure charges. They could be more transparent in terms of processing time.

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