A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 2 Asha Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 11.75% Fixed/Floating
    0.50% (min. ₹10000) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.25% Floating
    0.50% (min. ₹10000)
    1Cr - 5Crs
    1-20 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Asha Home Loan is Rated as "Great!" by 1983 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Overview of Asha Home Loan:

    “A home is never small” ~ Axis Bank”

    One of the key hurdles to purchasing a home of your own is amassing the pile of cash required for a down payment. By some guesstimates, it can take at least a few years to get your hands on a decent 10 to 15 percent. As the Reserve Bank of India introduced several new guidelines like lowering of interest rates and EMIs for housing loans, potential home buyers with less bucks in their account to put down for that hefty first payment, are now spoilt for reasonable choices.

    Asha Home loan is a customized financial product explicitly made for Axis bank clients to fulfil their dream of owning a house. With a bunch of tailored options including the ambitious Asha Home Loan Scheme, it didn’t take the bank long to become one of the biggest players in the House Loan Business. And the reason why this scheme hit off with customers is that it plays to the tune of your career and monthly income purely based on your banking history and credit score.

    Home Loan Offers

    Features & Benefits:

    • Purpose of Asha Home Loan: Asha home loan is your ticket to purchase a ready home or construct your own house. You can use it to buy a property under construction or a one put up for resale. Loan is also offered for plot purchasing and renovation of your current house.
    • Loan Term: 30 years with a higher eligibility.
    • Loan Sum: Minimum loan amount granted by Axis bank as per the Asha home loan scheme is one lakh. But you can avail up to ninety percent of the property price for loans up to twenty lakhs. You can apply for a maximum of 28 lakhs.
    • Affordable Interest Rates: Asha Scheme doesn’t believe in draining the borrower to the point of ‘peace of mind vs owning a house’.
    • Transfer your balance without stress: If you had already taken another house loan from another financier, you can easily consolidate it with the Asha home loan if you have an impeccable repayment track record.
    • Security: Rightful mortgage of the house or land to be bankrolled by way of depositing the title deeds.
    • Payout Procedure: The entire loan amount will be paid either in one go or partially, considering the requirement of funds for construction or purchase, as evaluated by Axis Bank. The money will be transferred directly to builder, seller (of house, materials etc.) or local development authority.

    Asha Home Loan Eligibility & Documentation:

    To avail Asha Home Loan, your joint family income need be only INR 8000 per month based on where you live. This is really nominal when compared to schemes offered by other banks.

    Purpose Salaried Self-employed/ Freelance Professional
    Identity Proof Passport/ Driving License/ Employment Id Card (NREGA)/ Voters Id/ Adhaar Card/ PAN Card Passport/ Driving License/ Employment Id Card (NREGA)/ Voters Id/ Adhaar Card/ PAN Card
    Address Proof Passport/ Driving License/ Employment Id Card (NREGA)/ Voters Id/ Adhaar Card/ Rental Agreement Passport/ Driving License/ Employment Id Card (NREGA)/ Voters Id/ Adhaar Card/ Rental Agreement
    Income Proof Salary Slips, Income Tax Return Papers IT Returns, P & L accounts & B/S, Bank Statements for the last 6 months

    Asha Home Loan Rate of Interests:

    Fixed Rate of Interest for Asha Housing Loan is at 11.75 percent per annum.

    Floating Interest Rate Base Rate + Mark-up Effective Rate of Interest Per Annum
    Salaried Base Rate + 0.60% 10.45%
    Entrepreneurs/ Freelance Professionals Base Rate + 0.85% 10.70%

    Fees & Charges:

    Charge Description Sum (INR)
    Processing Charges or Admission Fee One percent of the loan amount, not less than INR 10,000
    Repayment Instruction/Instrument Return charges INR 500 per case
    Cheque/Instrument Substitution charges INR 500 per case
    CERSAI Charges INR 500
    Charges for issuing Copy of Statement INR 250 per case
    Charges for issuing Copy of Amortization Schedule INR 250 per case
    Charges for issuing Copy of Interest Certificate (Provisional/Actual) INR 250 per case
    Charges to get copy of title documents INR 250 per document set
    Charges levied for requests for copies of documents by the client INR 250 per document set
    Charges to issue Credit Bureau Report INR 50 per case
    Advance Payment Penalty for Fixed Rate Loan Two percent of remaining principal sum that is prepaid
    Fine for Late EMI Payment INR 500 per cheque bounce and a punitive interest at the rate 24% annually i.e. 2% per month on the unpaid installment/s
    Converting Fees (Floating to Fixed Rate) 1% on the remaining principal (not less than INR 10,000)
    Converting Fees (Fixed to Floating Rate) 2% on the due principal sum
    Converting Fees (Higher Fixed rate to Lower Fixed Rate) 0.5% on due principal with minimum INR 10,000
    Converting Fees (Higher Floating Rate to Lower Floating Rate) 0.5% on due principal with a minimum of INR 10,000

    Asha Home Loan New MCLR:

    Fixed Rate of Interest for Asha Housing Loan by Axis Bank is at 11.75% per annum. Floating rate of interest is dependent on the Marginal Cost of Funds-based Lending Rate (MCLR) from April 1, 2016. The 6-month MCLR, which is the rate on which Axis Bank home loans are based, is 9.3% currently. The spread above MCLR on home loans is as below:

    Customer type Floating interest rate
    Salaried 9.95% (MCLR + 0.65%)
    Entrepreneurs/Freelance Professionals 10.15% (MCLR + 0.90%)

    FAQs:

    1. Can I apply for a Home Loan at fixed rate with term of 25 years?

      Under this scheme, fixed rate loans are usually offered only if the loan is taken for a term period that does not exceed 20 years.

    2. I work at a private company and I get my salary in cash. Am I eligible to apply for Asha?

      Certainly. Axis bank is liberal in its outlook and does not hesitate to extend Home Loans to salaried people who receive their payment in cash.

    3. How can I get my next pay out?

      You can get your next pay out by submitting a duly filled and signed Disbursal Request Form (DRF), letter from the builder and other building-related bills.

    4. How long will Axis Bank take to make the disbursement?

      Properties (plot, under-construction houses, resalable house etc.) are categorized into two- Approved Project Facility or APF and Non APF. It will take 5 working days if the project is approved and 7 working days if it is not.

    5. How can I know if the property I want to avail loan for comes under Approved Project Facility or not?

      You can check the bank’s Home Loan Page under which you will find the list of all Approved Projects.

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  • Asha Home Loan Reviews

    • Axis Bank Home Loan
      "Satisfied"
      0.5 2.0/5 "Expected more"
      I had not taken the home loan with the Axis bank because of the huge processing charges and also they have delayed for some time. Customer service was not really good after the document collection process, also they have not provided the proper feedback too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Axis Bank Home Loan
      "Better"
      0.5 4.0/5 "Great!"
      Process and everything was a good one with the Axis bank and I don't have any issues with them till now. Response was very much delayed , also the process lapsed with the Axis bank. In the mean time, I had got the better offer from the Axis bank..
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Axis Bank Home Loan
      "Better "
      0.5 3.0/5 "Satisfactory"
      I have not made the balance transfer to the Axis bank because of some other like I am okay with the existing bank itself. 8.6% was the interest rate with the Axis bank and the customer service was also good one. For any future requirement, I would like to go ahead with the Axis bank.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2017
    • Axis Bank Home Loan
      "They should be transparent"
      0.5 1.0/5 "Really Bad"
      I am not happy with AXIS service because there was no response from their end, They didn't call or message me, Till now I am not aware why my home loan got rejected the application. Finally I checked my credit score at the time, I could see AXIS have inquired my credit score I hope based on that they have closed. Whatever it may be AXIS should give transparent information.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 14, 2017
    • Axis Bank Home Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      There was a delay in the Axis bank response and they took too much time to reach me and after reaching me they have explained me about the product and they told they need more time to process my home loan. I would suggest axis to to give response quick and fast in future. The rate of interest is similar to other banks. The service which axis gave was average.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2017
    • Axis Bank Home Loan
      "Need Improvement"
      0.5 2.0/5 "Expected more"
      Axis bank is good at banking service, because I also hold Axis salaried and savings account, but as far as the loan is concerned AXIS Bank didn't provide a satisfactory service.They gave a call and explained about the product and after that I didn't receive any calls from Axis bank. They need to be improve a lot when it comes to customer support.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 13, 2017
    • Axis Bank Home Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I have got a home loan with Vijaya bank and I was planning to transfer my home loan to Axis bank, but unfortunately I can't do it, because with Vijaya bank it was a joint account so that was the reason I can't proceed with Axis bank home loan. The rate of interest is nominal with Axis bank and the customer support helped me in concern to my home loan application. I would say, It was a better service with Axis bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2017
    • Axis Bank Home Loan
      "Dissatisfied service"
      0.5 1.0/5 "Really Bad"
      When I applied for the home loan, there was no response from the AXIS end. They never concerned about the customer, I am very much disappointed with their service. Then I took loan from Bajaj finance. Axis should give good response to the customer's request.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2017
    • Axis Bank Home Loan
      "Delayed Process"
      0.5 2.0/5 "Expected more"
      There was no timely service or response from Axis bank. Their services are not satisfactory. Actually I had applied for the housing loan with Axis bank but since I did not get the response on time, I just switched over to HDFC Ltd where I got a fast service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2017
    • Axis Bank Home Loan
      "Response time should be faster"
      0.5 3.0/5 "Satisfactory"
      Axis bank didn't contact me, they reached me after three days of my request, meanwhile I approached some other financial institution and they gave better offer that is TATA Capital, it would be great if, Axis provide quick response to the customer and that would be very much helpful.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2017
    • Axis Bank Home Loan
      "Response part should be improved"
      0.5 1.0/5 "Really Bad"
      It got very late reply from AXIS Bank, hence I lost the property deal. I got a response from AXIS after ten to fifteen days. It is not fair, AXIS response time needs to be improved, they should revert back immediately on the customer queries without any delay.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 12, 2017
    • Axis Bank Home Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      AXIS interest rate is quite good compared to other competitor. They gave me 8.5% on the home loan. I had taken amount of 90 lakhs, this is for a tenure of 15 years process was hassle free. they had done a part payment too according to the property construction.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 12, 2017
    • Axis Bank Home Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      The home loan got sanctioned with Axis bank for 50 lakhs. Axis bank is good in responding. They continuously calling and telling me that the loan got sanctioned and they are asking me to collect the sanctioned letter. Though the interest rate is high with Axis bank, they are fulfilling their commitments. I never taken any loans yet but the service is really good with Axis bank
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 10, 2017
    • Axis Bank Home Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I had taken the housing loan and bought the flat. The flat promoter referred Axis bank for the loan. So I submitted the loan application with the bank. I do not remember about the interest rate. In another three years, the loan process would get completed. However I am dissatisfied with Axis bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 10, 2017
    • Axis Bank Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I am happy with Axis bank in terms of my housing loan. I do hold a savings account with the same bank for the last 10 years. For the housing loan, the interest rate was around 11.50% which is a little higher when compared with other banks. But the service offered was really good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2017
    • Axis Bank Home Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      Axis bank has also offered me a home loan and this experience is pretty good. The disbursement was good andit happened as needed. I did not have to follow up much to get updates as the bank was supportive and pretty responsive. I also got a reasonable deal on the charges too.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 01, 2017
    • Axis Bank Home Loan
      "Interest rate should be flexible as per the market"
      0.5 5.0/5 "Blown Away!"
      AXIS home interest rate is fluctuated compared to other banks. However their loan process is good. I have requested 30% of amount on the property value. AXIS disbursed the amount on time. Documentation process is very convenient. If they reduce the interest rate that would be best.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • Axis Bank Home Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      Last year I had taken a housing loan from Axis bank. The interest rate is of 9% and I am comfortable with the bank. If I get lesser interest rate than this with any other bank, I will transfer my loan. Customer service provided by them is wonderful
      Was this review helpful? 0
      , thrissur
      Reviewed on May 24, 2017
    • Axis Bank Home Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Axis bank would get a five stars for the home loan as they had good offers for me. The charges and interest rate was lesser than other banks since I bank with them as a corporate customer. The process in getting the loan was also smooth and hassle free.
      Was this review helpful? 0
      , pune
      Reviewed on May 22, 2017
    • Axis Bank Home Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      AXIS process is good, they had done a very good job, Only from my end there was a delay because I am not aware about the balance transfer process, that I should have taken a DD, if Axis would have inform earlier that would have been great. AXIS offered an interest rate of 8.5% which is simply great.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 19, 2017
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