Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 637 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 25 Oct 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

81 % of our customers would recommend this bank. (515 out of 637) Write Review
Customer Reviews
Page 1 of 28 1 2 3 4 5
  • Validated User
    (0)

    There was regular follow up and the executive was keep on updating the status while I approached Axis bank for Home loan. Actually I postpone the decision of taking home loan and time was bounced so the application got closed. The rate of interest is not much high and not much less, it is similar to other banks. Overall, I am satisfied with Axis bank and its services.

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  • Validated User
    (0)

    I have postponed ed the idea of taking a Axis Bank housing loan as, I as would require that only after 7 or 8 months its basically a under constructed property. I have to pay the amount first only after I would able to finalize the property and I am quite ok with the interest rate .

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  • Validated User
    (0)

    My experience was good with Axis bank while dealing with them for home loan. The executives coordinated well and even they helped me in property. They processed within 6 to 7 days and the process was faster. The rate of interest, fee and charges are similar like other banks however I am satisfied.

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  • Validated User
    (0)

    I traveled smooth with Axis bank when I approached them for home loan and they are good in response. Basis my experience the rate of interest is bit high thus Axis bank could reduce the rate. I was trying to buy one house but unfortunately I unable to deal thus I skipped home loan process but I would come to Axis bank in future if I do have requirements.

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

    As comparing with other banks the process is clear in Axis bank and the executive has mentioned the details explicitly without hiding. Actually I was contacted by two of the executives and felt some confusion on it thus I dropped home loan idea and gone for personal loan with Axis bank. Initially one of the Axis bank executive came my place for application process later another executive from Axis bank contacted me and informed that the application could no pre filled thus I skipped. It would be better if Axis bank message the details of executive in prior so that customer could avoid confusion.

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

    I did not face any problem with Axis Bank with regards to housing loan, even before I could start off with the process, I got a call from HDFC Ltd and HDFC Ltd approved the property and that is the reason why I gave up the idea of taking a loan from Axis . However Axis Bank was clear in explaining about the interest rates and other factors.

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

    I had plan to purchase a residential property due to certain personal reasons I am unable to finalized the property yet. Mainly because of the above mentioned reason I have dropped the idea of taking a housing loan. Services are good and I like their commitment level as well.

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

    Axis bank customer service is good and they given better response. According to me the rate of interest is moderate. The property which I was looking for did not work thus I was supposed to close the application. The rate of interest for home loan is fixed for tenor of two years so it would be convenient if they prolong it for 3 to 4 years.

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

    I am very much interested or I am very much eager to take a housing loan with Axis bank, as some of my documents are still pending, I am yet to get that from the builder that is why I have kept this application open. I guess, all these issues would get resolved in the next 10 or 15 days time post which I have planned to contact the Axis Bank executive once again.

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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 the housing loan however, I guess they always stick to their rules and regulations. They said they were unable to process my loan stating that they have certain legal issues. Same is not the case with HDFC LTD, as they approved it with the same documents, with the same details , even they have their service guidelines inspite of all that, they were able to process my loan application successfully.

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

    Due to official and personal commitments, I was unable to take a housing loan with Axis Bank. Customer service is really good, previously I was holding a salary account and I am really impressed with their services however due to certain issues I am unable to avail the services of Axis Bank.

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

    The Axis bank was ready to offer interest rat of 10.15% and their service was excellent. Unfortunately I was unable to go with Axis bank because I approached some other bank but I am highly satisfied with Axis bank. The executive has contacted me immediately and explained all details accurately. Axis bank is doing good already so I donâ??t have any suggestion.

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

    I did not face any issues with Axis bank when I had approached them for Home loan. In fact I dropped the plan of taking property thus I closed the home loan application. Axis bank was ready to provide 10.1% of interest rate which is satisfactory. I would come back to Axis bank post selecting property.

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

    I donâ??t have any complaints with Axis bank because the executive was good and they were proactive. I got couple of calls from them where they are good in interaction and mentioned all necessary details. Axis bank tried to fulfill my requirements but due to some policies they were unable process my home loan.

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

    I am having account in Axis bank and I got good service when I approached them for Home loan. Customer service is satisfactory and they offered the rate of interest 10.25%, which is reasonable like other banks. Actually the executive informed that there is some technical issue thus I could not avail home loan however I am satisfied.

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

    Actually I was unable to find the property and still is in progress thus I could not avail home loan with Axis bank. The rate of interest 10.25% is less while comparing to other banks. Customer service is good and I am satisfied with process. It would be great if the Axis bank give prior intimation before confirming the cibil score.

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

    Actually I was unable to submit the required documents to Axis bank thus I could not take home loan. My suggestion is that, the executive should visit the customer directly and they should explain the details rather calling the customer for discussion. The rate of interest 9.25% is less thus I am satisfied. Other than that there was regular updates and follow up.

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

    The rate of interest is less in Axis bank thus I preferred Axis bank for home loan and they contacted me timely and provided all kinds of details. They were keep on updating the status and the executive was very kind enough. They clarified my queries timely. Actually there was some issues in property thus I unable to take home loan. If I avail property sure I would come to Axis bank for home loan.

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

    I have arranged funds through another source, that is why I gave up the idea of taking a housing loan. The interest rate offered by them was around 10.5% which was quite less than other Banks. Customer service was awesome and I would recommend this bank to all.

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

    I am interested to go with Axis Bank very much, the only thing is I have not yet finalized the property I am yet to finalize it. I have planned to purchase a property at Hyderabad. once after everything is sorted out , I might approach them once again for the same.

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