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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 835 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

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02
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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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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 27 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 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


Axis Bank Home Loan Reviews

Customer Reviews
Page 1 of 42 1 2 3 4 5
  • Validated User
    (1)

    I have taken a housing loan with Axis bank. The rate of interest offered by them was really high . They have tried to provide the maximum loan amount. I was in need of 14.5 lakhs however they have offered me around 13.95 lakhs. I have planned to take a top up loan shortly. The rate of interest offered by them was 10.75%. Processing fee charged by them was 1%. Every thing else is fine and they took about a weekâ??s time to process the loan.

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

    Customer service provided by Axis bank for the housing loan is really nice. They were able to provide full support. I was able to get the interest certificate. I purchased a property at Ahmedabad. When RBI reduces the interest rate, they will immediately reduce the interest rate as I am a salaried person they offered me an interest rate of 10.15%.

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

    Axis Bank housing loan is good, there was a proper co -ordination between the bank executive named Prashanth and Axis bank Manager named Raja Mani. They were also very interactive and co-operative. Overall its good. The loan was already approved and the best part is, this is the only Bank which was able to provide the loan with very less documents. Axis bank was able to provide me what ever loan amount I wanted overall Axis bank is co-operative.

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

    Axis bank provided home loan without any issues than any other banks. Interest rate is good and it is floating with the processing charge of 1%. Executive who assisted me was not that much aware about the product thus he was unable to resolve my queries as always he asked his senior officer. Nice if executive be more knowledgeable.

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

    I am holding a housing loan with Axis bank. The rate of interest offered by them was 10.30%. They provide the fastest service. The total turn around time was 20 days. Registration process was very simple and its not complicated. Processing fee charged by them was ok which is rs 5000.

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

    My experience with Axis bank was good for the home loan I have taken. It was through my brothers friend I approached the bank and everything went on smooth .The rate of interest and the processing fee charged was nominal when compared to other banks. My loan got disbursed within 6 to 7 days. Overall the service provided by Axis Bank was excellent

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    riyaz took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • (4)

    I applied for Home Loan. They received all financial documents for me in haste. But there was no proper response after that on the loan processing status. The executive did not even Pick my call (Name : Thiyagarajan - Sales). And I cancelled the loan due to poor service. They did not return back the documents (Jeevan & Vadivelan). Very very poor service. Please do not opt for Axis Bank

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

    My housing loan is with Axis bank. Its been 3 years now since I am holding this loan. After 1 year any time I can foreclose or pre-close the loan. Interest rate and processing fee charged by them is in line with other Bank. Adding up to that, they have also added insurance to the loan amount.

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

    My home loan application with Axis bank could not processed to the next level because they informed that my office have no branch in India. They directly informed that I am not eligible and they did not guide me with alternate options. They could have been informed that I can take loan with co-applicant. I am not that much impressed with Axis bank. Other than that rate of interest is similar to other banks. Response was not up to the mark.

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

    Not at all satisfied with Axis bank because for one week I did not receive any response from the executive so I went with other bank for home loan. Response and customer service was very poor. In respect to interest rate no problem because it is standard. No idea about processing charge as we did not discuss about it.

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    monojit took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (3)

    I am holding a housing loan with Axis bank. Overall I would like to rate them 3. They took around 3 months of time to process the housing loan. In spite of me giving the correct documents on time they took more than 3 months of time to process the loan. They took about 1.5 months to complete the survey. I am dis satisfied with their response and approach.

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

    Service that I got from Axis bank is average because the required documents for home loan were not mentioned accurately and response was not that much good thus I quit. Interest rate is nominal across the market. First time I approached for loan so at that time I did not know the required documents as suggesting Axis bank to inform the customers about documents clearly in affront so that they can arrange it without issues.

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

    I inquired Axis bank for the loan amount of 15lakhs but they were only ready to give 12lakhs so I moved out to alternate choice. I asked the executive atleast of 14lakhs but he informed that, would try for 13lakhs however they could not give requested amount. In comparison with all other banks the interest rate for home loan is less in Axis bank. Before the approval of loan, they collected processing charge of 3500 so I am suggesting this should not happen and they should inform the customers about the loan amount transparently in prior instead of dragging and closing the deal.

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

    Nothing went wrong as the application could not processed to the next level with Axis bank because I was unable to submit IT return form on stipulated time period. I am satisfied with the way that the executives approached me for home loan and they were good. The deal got closed at the initial level so no idea about fee structure.

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    manohar took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (3)

    Axis bank representative was not interested to process the home loan. I have submitted entire documents more than twice but also they did not give any status. I tried calling the executive but no response from him, eventually they told that the application got rejected. I asked the executive to return my documents but still no revert from him.

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    sowmya took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (3)

    I havenâ??t finalized the property due to some personal issues thus I could not take home loan from Axis bank. I will turn back to Axis bank later I have any requirement. That time Axis bank offered less rate of interest but of course now it would have increased. Just applied first time and the executives assisted well. I interacted with the executive only one time as donâ??t have much experience.

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

    Actually for next two months I postponed the plan of taking home loan thus unable to go with Axis bank for loan. In future, if I plan for home loan, by sure will come to Axis bank. I think that Axis bank informed rate of interest as 10.25%. I found Axis bank as good because they are best in services. Communicated registration charges and processing charges are high so suggesting to process home loan with nil charges.

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

    I am not sure that why Axis bank was unable to process my home loan application and they did not disclose the reason. I am eligible for home loan and I had all documents with me but they did not process the loan. Axis bank informed directly that the interest rate for home loan will be 13-14% if I want to take the loan, which I am dissatisfied. I did not discuss about charges but surely it would be on higher side.

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

    Rate of interest is fine and response that I got was average. Axis bank is providing nice opportunities but there was no transparency in sharing loan details. Executive of Axis bank was not much knowledgeable about the product. At the start they informed that there would be no processing charge for home loan but later they informed as charges applicable. As per norms no banks are charging for pre closure but Axis bank says some percentage and later they says as no. Overall they did not give correct information.

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

    The person who was following was good and he helped me better. Actually I applied for DDA flats wherein name did not appear in the lottery so I could not buy this home loan with Axis bank. So next time surely would come back to Axis bank. Executive came to my place to collect documents but communication was poor as I paid something around 6000 for processing charge. Executive did not mention that paid charge is not refundable. The executive should mention transparently about the charges in prior. Rate of interest was higher by 0.5 difference from other banks. Some banks are not charging for processing charge but here the charges are high in Axis bank.

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