Axis Bank Home Loan

Axis Bank Home Loan
 3.5 / 5.0   by 663 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 01 Nov 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. (534 out of 663) Write Review
Customer Reviews
Page 1 of 34 1 2 3 4 5
  • Validated User
    (0)

    Banking with Axis bank is good. I got good offers from here as my friend is working with the same Bank and he referred me. Now my application is under process. They took minimum time to collect my documents when I applied for this loan ten days before.

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

    I never finalized the property so I unable to take home loan with Axis bank. Processing fee and other charges are high when relating to other banks. The executive was good and customer service was also quiet good. If I would have gone with Axis bank for home loan I might have experienced a lot but the home loan application got closed thus I had no chance to go in depth. However, I am happy with Axis bank.

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

    I am bit dissatisfied with Axis bank, the reason is that I did not get calls from the executive and no one has returned back for the process of home loan. My suggestion is that the Axis bank individuals should give proper response and they should follow the customer in regular basis.

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

    Experience with Axis bank was good and the plan that available is good. The executive who assisted me has clarified all my doubts and mentioned everything accurately. The rate of interest should be competitive because I felt the rate as high for home loan. Actually I was delayed the requirement and also due to high rate I did not take home loan with Axis bank.

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

    Rate of interest is very good in Axis bank when we compare with market. Overall experience was good but I struggled a lot for two days. Executive was suppose to meet me around 3pm but he did not come on committed time. So the executives should be more proactive and they should take ownership. I wonâ??t blame bank for anything because the issue will happen because of individuals so the representative should be more responsible in what they doing. I am satisfied with home loan process with Axis bank.

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

    I did not visit Axis bank directly, the Axis bank executive contacted me over phone at first. Actually I was out of country at that moment and when I returned from abroad I came to know that the home loan application got closed. The executiveâ??s follow up was good. Comparing with other banks rate is moderate in Axis bank. According to my personal point of view, the executive could visit directly the customer so that there would be transparent and customer could understand exact details. Since this would avoid delay in process and relationship will be increased.

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

    The executive who contacted me from Axis bank was helpful and mentioned the plan clearly. I planned to get land first and to construct later but Axis bank informed that they wonâ??t give loan to purchase land. Hence, I stopped there the home loan application. Anyway I am going to construct new house in my land so they could have been considered but no issues.

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

    Experience was great with Axis bank and I did not face any issues when I went for Home loan. Customer response was good and the executives visited my place to collect documents. The executive was ready to help us without any delay so I am glad. I was asking for the rate of 10.25% but they given 10.75% so I was not interested to move further. Other than that the rate of interest, I am satisfied with Axis bank.

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

    Axis bank is good in customer service. The rate of interest is high slightly in relating to other banks. The executive has explained all information in precise. There are some hidden charges and they been charged for insurance so I stopped going with Axis bank for home loan. Insurance should not be mandatory for home loan thus Axis bank should take care of it.

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

    Axis bank executives gave constant follow up during the home loan process. The rate of interest 11% is high when comparing to other banks because other banks are offering less than that. My suggestion is that Axis bank could keep the documentation less. I had postponed my requirements thus the home loan application got closed.

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

    Response was good with Axis bank when I went for home loan. The reason to stop home loan application is that, I had some financial problem at that time but next month I would come back again for home loan. Whatever the rate they mentioned to me for home loan is similar with other banks but the charges are too high. My interaction with the executives were good.

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

    The Axis bank executives called me over phone and mentioned all necessary details. I had requested them for the amount of 50lakhs and they were ready to offer rate like around 10% but it is bit high according to me. They replied all my queries promptly. My property was not ready so the bank peoples informed that they would call me after six months for home loan.

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

    My experience with Axis bank was good. They had provided good response when I was asking them for home loan but the rate of interest is high in my point of view. Pre closure and other charges are also bit high. But in general I am satisfied with Axis bank.

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

    I had finalized the property but there was some issues thus I skipped home loan application with Axis bank. I just received a single call from executive and the executive explained necessary information like rate of interest, other charges exactly. The executive was polite and courteous during the interaction. Anyway I am satisfied with the rate of interest.

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

    Axis bank executives were helpful and they cooperated well. I did not find any issues with them but due to my personal issues I had closed home loan application with Axis bank. I would definitely visit Axis bank again if I have necessity of home loan in future. Overall, I am satisfied with Axis bank services.

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

    On the month of September I approached Axis bank for Home loan and I got good response. The executive was good and they were performing good. I got timely response and documentation process was smooth. I am happy about offered rate and charges.

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

    Axis bank was prompt in processing and they were pretty good in customer service. In fact I got best deal with some other bank with respect to interest rate thus I closed the Home loan application with Axis bank. 10.2% was the rate of interest but coming to charges, it is high while comparing with other banks. Therefore they could reduce the charges like other banks.

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

    The property selected by me is not approved by Axis Bank. That is the reason why I was unable to take a housing loan with Axis. The executive who spoke with me in connection with this , was really nice . He has got a indepth knowledge about the process and he gave step -by step information about all the product

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

    Whenever I call them for any queries Axis bank is responding well and clarifying my doubts. I am being with Axis bank since 2001 but the rate of interest and charges they offered me was bit high. Initially they came with rate of 10.5% later they approached me for the rate of 10.25% however I am not interested to take home loan due to rate of interest. Therefore the home loan application with Axis bank got closed.

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

    Overall I am satisfied with Axis bank home loan process. I never interacted much with the executive but they responded well and cooperated better. Axis bank asked me to construct house using the loan amount but actually I planned to take property, thus the reason home loan application got closed. The rate of interest is bit high however I am satisfied.

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