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User reviews
  • When I applied for Axis bank housing loan, it was so unfortunate my mother expired, that is why I was unable to proceed with the concerned Bank. I also hold a salary account with Axis Bank that is why I have approached Axis bank. I would certainly approach Axis Bank for the housing loan as I was banking with them and love to bank with them forever.
    05:27 PM - Oct 20, 2014

    VIJAY SINGH GUSAIN, new delhi
    5.0/5 "Blown Away!"
  • Axis bank executive was good and explained all necessary details to me when I approached them for Home loan. Actually I am having several loan with different banks thus I was informed that I am not eligible for home loan. Customer service of Axis bank is really good. The owner of property could not provide required documents that Axis bank asked for and that too a reason for closing of home loan application. However, I am happy about Axis bank. I felt the rate of interest to be high in Axis bank while comparing to other banks.
    04:39 PM - Oct 20, 2014

    ANURAG RANJAN DAS, patna
    4.0/5 "Great!"
  • I previously had my interaction with Axis Bank with regards to housing loan, I have asked them to check whether it is possible for the Axis bank to do a balance transfer from India bulls as I already hold a personal loan with them and also from HDFC Ltd as, I hold a housing loan with them, so jointly I was requesting them to do a balance transfer . So that I can close both the loans and take a fresh loan from Axis as there was no revert from them I did not take the loan.
    02:17 PM - Oct 20, 2014

    SURESH BHATTI, chandigarh
    5.0/5 "Blown Away!"
  • As not finalized with property, I haven't got the home loan from HDFC limited. My experience with them is not much good. There are lot of hidden charges which is not intimated. I felt inconvenient to go with HDFC limited. Regarding the interest rate, its almost the same offered by others. Mostly, customer delight is more important.
    05:21 PM - Oct 20, 2014

    PRAVEEN KUMAR SRIVASTAAV, delhi
    3.0/5 "Satisfactory"
  • No issues from tata capital for my home loan application. Whenever I put any query these customer service people responded very properly. Rate of interest was quite competitive for me . Within a day they resolved for any query. They need to focus on the documentation part to be and make it simple
    04:36 PM - Oct 20, 2014

    ALI ASGER, indore
    4.0/5 "Great!"
  • I have visited Axis bank branch for Home loan and they processed the loan amount in 15 days. The rate of interest they offered is 10.25% and processing fee is 15,000, which is reasonable. Initially I have dropped the application because they are not giving details accurately. I have received call from two executives and they were providing different details in regards to eligibility criteria. Apart from that I am satisfied with the customer service.
    01:40 PM - Oct 20, 2014

    VINAY ARORA, noida
    3.0/5 "Satisfactory"
  • Axis bank executive has called me and they guided properly. Even I got call from local branch of Axis bank where response was good. Actually I have planned to buy house which belongs to my relatives but they dropped the plan of selling thus the home loan application with Axis bank got closed. I am much satisfied with the customer service. Initially there was some communication gap but the follow ups were good. I am not very sure about the offered rate but I am satisfied with the offered rate.
    05:16 PM - Oct 20, 2014

    SRIDATTA N D, mysore
    3.0/5 "Satisfactory"
  • AS of now, I don't have any plan of availing home loan, hence not availed the home loan from ICICI. Inspite of me not availing home loan, customer service team did approach me well. Interest rate was quite higher which could be reduced. Overall satisfactory.
    04:22 PM - Oct 20, 2014

    SUNIL A, bangalore
    3.0/5 "Satisfactory"
  • I was having some property and and I have some issues on that thus I dropped the home loan application with Axis bank. The executives are good and they were keep on following me for home loan application. Customer service is good. The interaction with the executive was good and they were friendly. I am not very sure about the rate of interest but the processing fees said like 11,000. If I find property sure I would come back Axis bank for home loan.
    01:00 PM - Oct 20, 2014

    SABAREESWARAN MARIMUTHU, pondicherry
    5.0/5 "Blown Away!"
  • I was holding my home loan with HDFC bank for last 5 years , It was totally a good experience with them, Customer care executive was pretty good with their service initially while I approached they given me proper response they guided me very politely. I approached Rs 25 lackh they approved the same amount what I approached with them, I am really happy with their service.
    05:01 PM - Oct 20, 2014

    AKHILESH KANHAYALAL MISHRA, pune
    4.0/5 "Great!"
  • I had good experience with Axis bank while I approached them for Home loan. Actually I postpone the plan of getting property thus I closed the home loan application. They were ready to offer the interest rate of 10.5% and better processing fee. There is no pre closure charges which is satisfactory. The executive has just contacted me once and mentioned the required details apart from that I did not go in depth. However the executive was good. Probably I would start for real estate in future thus I approach for home loan.
    03:54 PM - Oct 20, 2014

    LENIN ANTONY, kochi
    3.0/5 "Satisfactory"
  • The application got approved as faster in Axis bank while I approached them for Home loan. I did not face any issues with Axis bank and customer service is good. As comparing to other banks, the rate of interest 10.25% is less. The processing fee is Rs.5000 and we did not proceed to next level because we canceled the application. The reason to cancel the home loan application is that we dropped the idea to take home.
    11:56 AM - Oct 20, 2014

    PRAJNA SATHYANAND SHETTY, mumbai
    4.0/5 "Great!"
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BankBazaar Home Loan is Rated as "Pretty good" by 3132 Users
 3.5 / 5.0   by 3132 users
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Responsiveness

Home Loan BYTES FROM OUR KITCHEN

You're eligible for a Home Loan if you:

01
02
03
04
That's 21 years old, same time that everything besides milk becomes legal too

Are legally adult enough to handle it

Less than 65 years of age, because sanguine golden years are for playing golf

Have still got it

Salaried or self-employed - whatever puts food on your table

Get a regular pay check

There's a minimum amount for that regular pay check

Make more than a basic buck


Your eligibility depends on

01
02
03
So you'll have enough for life's other goodies

EMI limited to about 50%
of monthly income

So you have something to call your very own from the get go

Loan capped @ 75% - 85% on property value

So you don't bite off more than you can chew. Trust us, it's less painful this way

EMIs of other loans lower
your eligibility


Boost your eligibility by

01
02
03
Her income will bolster your eligibility and make good on your wedding vows of sharing, caring and avoiding doing the dishes.

Making your spouse a co-applicant

We've all learned that haste makes waste

Choose longer tenure loans of up to 20 - 30 years

They will always remain older, wiser and more credible than their offspring.

Alternatively add your parents as co-applicants


Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Processing fee cheque
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Home Loan Interest RatesUpdated on 21 Oct 2014

Home Loan Details
Interest Rate (Monthly reducing balance) 10% - 10.5%
Processing Fees 0.5% of Loan
Loan Tenure 1 year to 20-30 years
Partial pre-payment Charges Nil
Pre-closure Chargest Nil

Wondering What a Home Loan is? – An Overview:

Home or housing loans are advances made to borrowers who require funds to purchase houses/flats/land. They can also be availed of for construction, extension and renovation of houses. Lenders can be banking or non-banking financial institutions.

Features of Home Loan:

The salient features are outlined below:
  • They are secured advances.
  • Collateral is usually the property that is being funded. Existing property can also be put up as security.
  • Interest rates are flexible being either Fixed, Floating or a combination of fixed and floating.
  • Home loan interest rates are lower when compared to unsecured personal advances.
  • The advance can be used to fund property for residential or investment purposes.
  • Amounts offered are higher than under other types of loans; up to 85% of the property value.
  • Repayments are made in EMIs (Equated Monthly Instalments).
  • Pre-payments are allowed, to reduce liability.
  • They are long-term in nature; tenors usually vary between 5 - 30 years
  • Non-interest charges include processing fees, pre-payment charges, inspection fees, documentation fees etc.
  • Co-applicants/joint-applicants are allowed.
  • They qualify for tax benefits as per provisions of the IT Act, 1961 (subject to changes).

Home Loan Eligibility - Getting In On the Deal:

Every lender assesses a customer differently but, by and large, the basic criteria a borrower should satisfy to be eligible for a home loan are outlined below:
  • Age: The minimum age at the time of application should be 21 years. Repayments have to be completed before the age of 60 or 65.
  • Employment: Ability to service interest charges, as reflected in the borrower’s earning capacity, is important. Borrowers should:
    • Be salaried employees or self-employed persons (professional/non-professional)
    • Have been in employment/business for at least 3 years of which current employment should account for at least 1 year.
  • Income: A minimum income varying between Rs.5 - 7 lakhs would be required. This depends on the nature of employment i.e. salaried or self-employed.
  • Residence: At least one year of stay at the current residence is required to display stability.
  • Credit Rating: A good credit score is required (a score of 750-900 from CIBIL is considered good). Besides this, a healthy financial background is vital for approval and to determine the interest rate and loan amount.

Documents Required for Home Loan - For the file!

Documents to be submitted differ according to the eligibility requirements. The following, however, are commonly requested for:
  • The application form which has to be signed and affixed with the specified number and size of photographs.
  • Proof of identity, address, employment, income and tax paid as per KYC requirements. This usually includes:
    • Passport/Voter ID//Driving License/Ration Card/Utility Bills/Lease Agreements/Property Deeds/Salary Slips (3 most recent months)/Salary Certificate/Bank Statements (3-6 most recent months)/Audited financial statements/Form 16/ITR/Business deeds e.g. MOA, Partnership Agreement etc./Appointment Letter
  • Documentary evidence of the property to be funded.
  • Cheques for payment of fees charged to process the application.
In case of a joint application, the co-applicant will also be required to furnish similar paperwork.

Beat the Heat - Apply Online:

The trials and tribulations one has to go through in order to figure out where to get the best offer from can be truly taxing to the mind, body and spirit.
Performing the age-old task of going to each financier, finding out what offers are available, collating the information, calculating EMIs, submitting the required documents and following up on applications can take a toll on any potential borrower.
The best way to save on time, money and effort is to go online. Applying for home loans online is gaining popularity in India and fast becoming the mode of choice for many borrowers.

Why BankBazaar? Check it out!

BankBazaar is India’s leading portal for financial services where different home loan offers can be compared at one place and applied for without having to visit any lending institution.
Here’s what users can do:
  • Define loan parameters to receive free quotes, instantaneously, in an easy-to-understand manner.
  • Compare offers to identify the right lender to deal with.
  • Make real-time home loan comparisons to find the lowest rates in the market. At BankBazaar, interest rates are constantly monitored and updated to reflect the latest changes made by financiers.
  • Avail exclusive discounts and deals for huge savings through BankBazaar’s active collaboration with leading financial institutions.
  • Check eligibility online using BankBazaar’s home loan eligibility calculator and get immediate e-approvals.
  • Determine repayments using BankBazaar’s home loan EMI calculator which also provides amortization tables.
  • Browse user reviews to gain insights on service provided by various institutions.
  • Apply online for the chosen product directly through the site.
  • Receive end to end guidance from a dedicated customer care team for smoother processing leading to quick disbursal of money.
  • Get regular status updates.
Obtaining the right home loan is crucial to proper financial planning. It all begins with a successful search process that facilitates quick receipt of funds and guarantees peace of mind.

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by 3132 users
Over 5,00,000 Happy Customers with loans & cards
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Compare multiple options and choose the one that best suits you

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Offers to Compare
Over 25 offers to compare!

This is our forte- helping you compare the finest deals. Additionally, we'll handpick offers that suit your profile and present the best rates from several banks, so you can make a thoroughly-informed decision.

Breaking Down Offers
Breaking down offers

We're obsessed with giving you a 365 degree view of offers. So, we'll break it down for you - EMIs, eligibility, maximum amount that can be borrowed, fees, hidden charges... no more getting fooled by the fine print!

Why Apply Online
Preferred over builder

There's a good reason by thousands of customers choose BankBazaar - we support you in many more ways than a builder would through the process - multiple options & timely handheld support.

Cheaper then Dealer
Why apply online?

You don't have to fight for parking space! Jokes apart, applying online will help you save time and money; plus, you'll be able to use the services of our super-friendly customer service team at anytime and get all your queries answered.

Comparing Best Car Loans
Done comparing! Now what?

We showcase the best loan offers and help you compare them... what next? Well, we'll aid you in applying to the bank of your choice and work with you right up to the delivery of the loan!

Still have a gazillion questions?
Still have a gazillion questions?

Think of BankBazaar as your loan-savvy buddy! Our customer support team is at your service to clear doubts on eligibility, offers, procedures and documentation, and help you apply. They'll even co-ordinate with the bank to get you your loan on time.

Connect to the Bank
We'll connect you to the bank

We know the bank guys really well! So, if you want to talk to a bank representative or get help on your loan application, we won't just connect you to them; we'll also do the follow-up on your behalf.

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