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User reviews
  • 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.
    05:18 PM - Oct 23, 2014

    BHAVNEET BHOOSHAN BODH, indore
    4.0/5 "Great!"
  • 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.
    04:26 PM - Oct 23, 2014

    NAVEEN SAMANTRI, bangalore
    3.0/5 "Satisfactory"
  • I am yet to finalize the property , mostly by this week end I would be finalizing the property. Rate of interest offered by them is 14% which is high when compared with others, as others were offering 12%. Axis Bank customer service team were able to assist guide me appropriately and I wish I should take a housing loan from Axis bank.
    12:21 PM - Oct 21, 2014

    MUTHU KUMAR S, chennai
    5.0/5 "Blown Away!"
  • 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.
    05:17 PM - Oct 23, 2014

    HARSHAL SUDHAKAR CHAUDHARI, thane
    3.0/5 "Satisfactory"
  • SBI is giving facility of mexgin so using that we can do repayment option and also we can withdraw the amount easily. Other than that the rate of interest and other charges are similar like other banks. Actually my father is having account with SBI and he is promoter thus I approached SBI for Home loan. SBI could improve their customer service.
    01:08 PM - Oct 23, 2014

    JIGAR MANUBHAI PATEL, vadodara
    5.0/5 "Blown Away!"
  • I dont have much interactions with Axis Bank for the housing loan , I have can celled the application due to personal reasons nothing much. I have planned to re-apply shortly the interest rate and processing fee offered by them is quite reasonable and I have absolutely no other issues with them and overall its fine.
    11:40 AM - Oct 21, 2014

    VASANTHA KUMAR, tiruchirapalli
    5.0/5 "Blown Away!"
  • 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.
    04:55 PM - Oct 23, 2014

    DINESH TALWAS, chandigarh
    4.0/5 "Great!"
  • 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.
    01:07 PM - Oct 23, 2014

    JIGAR MANUBHAI PATEL, vadodara
    5.0/5 "Blown Away!"
  • I am yet to finalize the property that is the reason why I have not taken this housing loan with Axis bank. Probably, it might take a monthâ??s time to finalize the property. Rate of interest offered by Axis bank is on the higher side which is 11% where with other Banks its 10.2% only, could be better if they reduce it and overall its been good.
    11:21 AM - Oct 21, 2014

    ASHOK BEDI, ghaziabad
    2.5/5 "Just OK"
  • Related to my home loan application with HDFC limited, there was no single call or SMS received from them. On a major basis, every customer would expect the faster response needs to be there from the bank so that could avail the services, however in terms of HDFC limited, response needs to be more better. Even the rates and charges are not much satisfied.
    04:47 PM - Oct 23, 2014

    PRABU M, chennai
    1.0/5 "Really Bad"
  • I am satisfied with Axis bank and my experience was good with them while I approached for Home loan. Customer service is really good. Actually I requested Axis bank for high amount because I planned to extend the size of my house. The executive informed that he has to confirm with the higher officer for high loan amount however the builder also informed as not possible to extend thus the application closed. The rate of interest is high according to me.
    01:04 PM - Oct 21, 2014

    M V MUTHU KRISHNAN, chennai
    3.5/5 "Pretty good"
  • HDFC Limited has helped me lot and they processed my home loan as faster thus I am satisfied with their services. The offered rate of interest is 10.15% which is quiet reasonable as compared to other banks. They approved my home loan in 7 days but disbursement took some delay that too from my side however no issues. Though the processing fee is bit high I am satisfied with the services of HDFC Limited. Also I am satisfied with the EMI date which is 1st of every month.
    10:47 AM - Oct 21, 2014

    MANU PRATAP SINGH, bhubaneshwar
    4.0/5 "Great!"
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BankBazaar Home Loan is Rated as "Pretty good" by 3149 Users
 3.5 / 5.0   by 3149 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 23 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.

rated 3.5 /5.0
by 3149 users
Over 5,00,000 Happy Customers with loans & cards
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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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