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

    We found 2 Asha Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.65% - 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 1967 Users

    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.

    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
      "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? 0
      , hyderabad
      Reviewed on May 19, 2017
    • Axis Bank Home Loan
      "Need Improvent"
      0.5 1.0/5 "Really Bad"
      I got the home loan with axis bank for past 3 years ago. The response was very poor because I was trying to reach Axis customer support and executives but none of them has responded for my home loan , after that I have decided to close the loan. The rate of interest is high , when compared with others. Overall I would say, they can improvise their service with customer support.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2017
    • Axis Bank Home Loan
      "Good Customer Support"
      0.5 4.5/5 "Excellent!"
      First of all, AXIS employees and their staffs are good, they are very informative. AXIS is guided me on my home loan. Loan process is also good, from my end documents got delayed, but once I submitted the documents they have done the process within 15 days of time. AXIS charged 10.5% on my home loan.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 16, 2017
    • Axis Bank Home Loan
      "Interest rate has to be reduced"
      0.5 4.0/5 "Great!"
      AXIS housing loan interest rate was too high, Before doing balance transfer from AXIS bank, I requested for the revised interest rate but they asked me to pay Rs.7000 and also they said will reduce upto 9% only. But now a day home loan interest rate became around 8.65% hence I done the balance transfer to other bank. My loan with Axis was Rs. 28 lakhs with the tenure of 25 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 15, 2017
    • Axis Bank Home Loan
      "Bad experience part payment "
      0.5 2.0/5 "Expected more"
      Worst bank I have taken a loan from.... I had enquired on part payment to reduce my tenure and the executive replies would take 10 days to reply for which she already took 5 days. I wanted to know what happens to the tenure if I make a part payment. The 1st reply was only your principal reduced whereas your interest amount remains same and won't change even if the principal has reduced coz of part payment .... It was a straight forward question where I wanted to know their above calculation for this, and it is more than 10 days I am waiting to seek their calculation.
      Was this review helpful? 0
      , pune
      Reviewed on May 12, 2017
    • Axis Bank Home Loan
      "Fablous experience"
      0.5 5.0/5 "Blown Away!"
      Before I could avail Axis service, I heard their interest rate was very high for the loan product, but in my case Axis charged the interest rate of 8.3% for home loan, which is actually lowest rate in the market. AXIS documentation process was simpler they collected all the documentation on time and disbursed my home loan . More than all, they are no charges for foreclosure too.
      Was this review helpful? 0
      , nagpur
      Reviewed on May 05, 2017
    • Axis Bank Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Axis bank have provided me the best rate of interest with less processing charges, also they have offered me around 8.5% for my home loan, which is floating. Response was good one with the Axis bank and their executive have helped me in every way regarding the total process.
      Was this review helpful? 1
      , vadodara
      Reviewed on Apr 26, 2017
    • Axis Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had taken my home loan from Axis bank and because of the delay I had to pay a penalty of 21K to the housing board as I was taking the loan through them. I had submitted my documents 15 days earlier and still the bank delayed. The interest rate and charges was average too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 24, 2017
    • Axis Bank Home Loan
      "Satisfied with the services"
      0.5 4.5/5 "Excellent!"
      I had taken my home loan from Axis bank and the services from them was excellent. They were clear about the process and the details concerned to the loan. The disbursement was also completed on time and the interest rate and processing charges was also very much satisfactory too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2017
    • Axis Bank Home Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      I applied for a home loan with Axis Bank and it has not been a satisfactory experience. The executive who came over to my place was not responsive and not cooperative in providing details. The bank is overall good. It is the executive who was not up to the mark.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 18, 2017
    • Axis Bank Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from Axis bank and the rate of interest was around 8.16%. The services and response has been really good and the process was quick and they were supportive by disbursing the funds at the right time. The processing charges was normal.
      Was this review helpful? 1
      , nasik
      Reviewed on Apr 18, 2017
    • Axis Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan is from Axis bank. The services was very good from them. The response is good too. I received the loan amount in 1 months. And the loan was processed smooth. The rate of interest was also normal. 8.65% They also offered a reasonable processing fee was less than 2k and the loan charges is 1% EMI is 30k for 20 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 18, 2017
    • Axis Bank Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      Overall AXIS housing loan process was good. The executive came to my place and they took all the details and they have processed with the loan. They have offered the loan within ten days of time and everything was finalized.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 17, 2017
    • Axis Bank Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      Axis bank had provided me with 8.5% as interest rate for the home loan and the customer service is very good and I used to get the call from them for followups too. Processing fees and charges are around 5k EMI is around 6500 rupees for 20 years and documents were all collected by the bank executives and verification was also done on time.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 17, 2017
    • Axis Bank Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had applied for a home loan with Axis bank and I also got a response from them with the details of the documentation and process Interest rate offered by them was in line 10.25% and processing fee is 2% and it was for 15 years The customer services was also quick, the process was smooth and it was on time. It was on time when I needed it. I also did not have much of struggles when it comes to documentation.
      Was this review helpful? 0
      , kochi
      Reviewed on Apr 13, 2017
    • Axis Bank Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      I approached Axis bank for my home loan through online source. They were very responsive on my home loan application. Interest rate is good and satisfactory. But I would like to point out something on their customer service which is, they suppose to disburse the loan on 10th of Mar'17 but I received it on 14th of Mar'17, there was a dealy of 4 days . So I just raised a request to waive off interest rate for 4 days but they waived off for 3 days. Other than that, it is a better service.
      Was this review helpful? 0
      , vadodara
      Reviewed on Apr 13, 2017
    • Axis Bank Home Loan
      "Not happy "
      0.5 1.0/5 "Really Bad"
      It is totally disappointing with Axis bank. I am not at all happy with their home loan service. They are not fulfilling their commitments. Actually I refused to take a home loan with them as I am getting the same interest rate with HDFC bank, so they said that there will not be any issues. But I received a mail that my EMI has been deducted for the loan which I have not taken. Again I received a mail that they triggered ECS for EMI payment. It is very much disappointing and I am not happy with Axis bank.
      Was this review helpful? 1
      , new delhi
      Reviewed on Apr 13, 2017
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