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    We found 2 Axis Bank Happy Ending 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

    Axis Bank Happy Ending Home Loan is Rated as "Great!" by 1983 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.

    Home Loan Offers

    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
      "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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