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    Axis Bank Happy Ending Home Loan

    We found 2 Axis Bank Happy Ending 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

    Axis Bank Happy Ending Home Loan is Rated as "Great!" by 1964 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Axis Bank Happy Ending Home Loan Overview

    Axis Bank’s home loans are affordable and customer-friendly. One of the home loan schemes the bank has is the ‘Happy Ending’ home loan, which comes with special benefits on Equated Monthly Instalments (EMIs). This is a scheme specifically to reward customers who pay their EMIs regularly and on time.

    Axis Bank Happy Ending Home Loan Features and Benefits

    The Happy Ending home loans are available under the floating rate plan, for purchasing a house under construction, buying a ready-to-occupy house or an existing house, or purchasing a plot to build your own house. This facility can also be availed if you are transferring the home loan from another bank to Axis Bank. The benefits that make this scheme special are:

    • Waiver of last 12 EMIs: If your repayment record is clean – with a maximum of 3 instances where dues are pending for 30 days or more but never over 90 days during the loan period – then you will be able to avail this 1 year-EMI waiver. This scheme is only available for loans with a tenure of 20 years or more. Partial repayment of loan can be done while availing this “happy ending” if the repayment is made after 180 months (15 years).
    • No hidden charges or higher interest: The Happy Ending home loan scheme does not have any additional or hidden charges. It also comes at the price of the normal home loan with no extra premium or interest.
    • Doorstep service: You don’t have to go to the bank for anything during the tenure of your loan. You can ask for doorstep banking if you ever need Axis’s services.
    • Zero foreclosure charges: There are no pre-payment charges if you are paying off your loan after a period 15 years.
    • Loan-to-value ratio: the loan-to-value ratio, or the amount of loan you can get based on the value of the property, is as follows:
    For loans up to Rs. 20 Lakh 85% of Documented Cost or Market Value (whichever is lower)
    For loans between Rs. 20 lakh and Rs. 75 lakh 85% of Documented Cost subject to 80% of the Market value
    For loans above Rs. 75 lakh LTV up to 85% of the Documented cost subject to 75 % of the Market Value

    Axis Bank Happy Ending Home Loan Eligibility Criteria

    The eligibility criteria of the Happy Ending Home Loan is similar to the normal home loan in terms of age and income requirements, except with regard to the EMI payment terms.

    • The minimum age is 24 years and the maximum, 60 years.
    • You should have paid all your EMIs regularly and on time.
    • The maximum delays you are allowed to have made in EMI payments is – 3 times with EMIs pending due for 30 days and never more than for 90 days.
    • Your loan tenure has to be at least 15 years.

    Axis Bank Happy Ending Home Loan Documentation

    You need to present the following documents at the bank to avail the Happy Ending Home Loan from Axis Bank.

    • Proof of identity and address: A copy of any one of these – Passport, Voter’s ID, Driving License, MNREGA Job Card or Aadhaar Card. PAN card is accepted only as identity proof.
    • Proof of income: Payslips of the last 3 months and Form 16/16A (for salaried persons), and for self-employed persons, IT returns for the previous 2 years and computation of income for the last 2 years certified by a chartered accountant.
    • Bank statement or Pass Book for the past 6 months of the bank account in which salary or income is credited.
    • Filled-up application form: Ensure that you fill up the application form with correct information and without making an inky mess on the sheet.

    Axis Bank Happy Ending Home Loan MCLR

    Axis bank’s current Marginal Cost of Funds-based Lending Rate (MCLR) are as follows:

    Loan Tenor MCLR Rate
    Overnight 8.95%
    1 month 9.05%
    3 months 9.25%
    6 months 9.3%
    1 year 9.35%
    2 years 9.45%
    3 years 9.5%

    For floating-rate home loans, Axis Bank takes the 6-month MCLR as benchmark and adds a premium or mark-up to the MCLR to arrive at the actual lending rate. The interest rates will be reset every 6 months based on change in this rate. Fixed-rate loans are not based on MCLR rates.

    Axis Bank Happy Ending Home Loan Interest and Fees

    Given below is the table with rate of interest for Axis Bank Happy Ending Home Loans (floating rate). The rates are slightly different for salaried persons and self-employed persons due to the variation of risk in both the categories.

    Type of customer Loan Amount Interest Rate Top-up Loan Rates
    Salaried Up to Rs. 28 lakh 9.45% (MCLR + 0.15%) 11.6% (MCLR + 2.30%)
      More than Rs. 28 lakh 9.5% (MCLR + 0.20%)  
    Self-employed Up to Rs. 28 lakh 9.55% (MCLR + 0.25%) 11.6% (MCLR + 2.30%)
      More than Rs. 28 lakh 9.6% (MCLR + 0.30%)  

    These rates are available to new customers who take loans after April 1, 2016. Other applicable charges are:

    Processing Fee: Up to 1% of the loan amount, with a minimum of Rs. 10,000.

    Service Tax: A service tax of 12.24% is applicable on the loan processing fee.

    Prepayment Charges: There is no foreclosure charge, even if you are making a partial pre-payment on floating-rate home loan.

    Default Interest Rate: 2% per month, 24% annually.

    Switching Fees: If you need to move from a higher floating rate to lower floating rate, a fee of 0.5% on outstanding principal loan amount will be charged. The minimum switching fee is Rs. 10,000.

    CERSAI Charges: Rs. 50 for loans up to Rs. 5 lakh, and Rs. 100 for loans above Rs. 5 lakh

    FAQs on Axis Bank Happy Ending Home Loan:

    1. Is the Happy Ending scheme available on fixed-interest loans?

      No. This scheme is only available under the floating rate home loan plans.

    2. Can I club any builder-benefit schemes or other Axis Bank schemes with the Happy Ending plan?

      No, you cannot club any subvention scheme or any other kind of benefit plan with the Happy Ending scheme.

    3. Can I convert my fixed-rate loan to floating rate plan and avail this scheme?

      Even with a switch, this EMI-waiver scheme is available only to original floating-interest home loan customers. If you are an existing customer with a floating-rate loan subject to base rate instead of MCLR, you can pay the switching charges and move to the new MCLR regime.

    4. Am I allowed to increase or decrease my EMIs under this plan?

      You can revise your EMI payments for faster repayment, but you will not be able to enjoy the benefits of Happy Ending plan of you do so. But if the EMIs are increasing or decreasing because of change in MCLR, you can still be part of the Happy Ending plan as long as your tenure is more than 180 months (15 years).

    5. If at the end of 180 months I have only 7 EMIs pending, how will the waiver scheme work?

      The basis of the scheme is not waiver of 12 EMIs, but completion of 15 years. So if at the end of that period you have only 7 EMIs due, those 7 EMIs will be waived off, and not 12.  

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  • Axis Bank Happy Ending Home Loan Reviews

    • 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
    • Axis Bank Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      When I took my home loan from Axis bank, they had offered me a rate of interest of 10.25%. Fortunately the rate dropped down and I current have a rate of 9.3%. The processing charges were nominal and the process was on time. The bank disbursed the funds as needed.
      Was this review helpful? 1
      , pune
      Reviewed on Apr 12, 2017
    • Axis Bank Home Loan
      "Better service"
      0.5 4.0/5 "Great!"
      Overall the service was very good with Axis bank on my home loan application. Axis bank people came to my office and collected the documents, which was very helpful. They took around 2months to disburse my home loan. The process got delayed from my side. The rate of interest, charges are nominal with AXIS. The hidden charges must be informed in prior. The response is really good with AXIS.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 11, 2017
    • Axis Bank Home Loan
      "Need to provide exact information to the customers"
      0.5 5.0/5 "Blown Away!"
      To begin with , I had approached Axis bank for the housing loan which is actually a balance transfer from HDFC LTD. Though Axis bank was ready to do a balance transfer they were ready to disburse a part of the amount and the rest I had to manage it seems. The exact information was not conveyed in the beginning I got to know about this at a later stage hence I had can celled it at the last stage.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 11, 2017
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