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  • Axis Bank Home Loan

    Axis Home Loan
     3.5 / 5.0   by 1638 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Axis Bank offers home loans with great features and benefits like: attractive housing finance rates, balance transfer facility, doorstep service, nil prepayment charges and quick and transparent processing. You can find your eligibility for an Axis Bank home loan by filling in a short form. Axis Bank also offers eligible customers instant e-approval on home loan applications on BankBazaar.com. View details below.


    You’re probably eligible for an Axis Bank Home Loan if you are

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    Axis Bank Home Loan Minimum Age

    At least 24 years old

     Axis Bank Home Loan Maximum Age

    Less than 65 years old

    Axis Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Axis Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Axis Bank Home Loan amount eligibility is based on these factors

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    Axis Bank Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Axis Bank Home Loan Maximum Loan to property value

    Loan capped @ 85% of property value

    Axis Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Axis Bank Home Loan amount by these steps

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    Axis Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Axis Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Axis Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Axis Bank Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 months salary-slips
      • Form 16 along with recent salary certificate
    • 6. Documentation for self-employed applicants:

      • Last 2 years Income Tax Returns
      • Last 2 years computation of income

    Axis Bank Home Loan Interest RatesUpdated on 08 Feb 2016

    Axis Bank Home Loan Details
    Interest Rate 9.50% to 11.75% (Floating Rate)
    Processing Fees Processing Fees of Rs.10000 + Service tax
    Loan Tenure 1 year to 30 years
    Partial pre-payment Charges Nil
    Pre-closure Charges Nil
    Guarantor Requirement No Guarantor Required

    Overview

    Buying a home at the time of a financial crunch is one of the biggest concerns of the Indian middle class. However, with different types of home loans available in the market, it has become quite easy for people to buy their dream home.


    Home Loans from Axis Bank

    Axis Bank has always been known for its commitment to its customers. Hence, the home loan provided by Axis Bank is also known for its feasibility and different benefits. The maximum repayment period for an Axis bank home loan is 30 years.


    The limits on the loan amount are as follows:


    S.No. Loan Amount Margin
    1. Minimum - Rs.3 Lakhs -
    2. For Loan up to Rs. 20 Lakhs 15%
    3. For Loan above Rs. 20 Lakhs to up to Rs. 75 Lakhs 20%
    4. For Loan above Rs.75 Lakhs 25%

    The documents required for applying for the loan are:


    • Properly filled application form with photograph.

    • ID proof, address and residence proof.

    • Income proof (for self employed copy of ITR for last 2 years and CA certification of last 2 years income and if salaried then Form 16 with a recent salary certificate or last salary slip, showing all deductions done).

    • Last 6 months bank statement.

    Although a guarantor is not required for home loans, in some cases the bank may need a guarantor form to be signed.

    The disbursement of the loan is done in installments after judging the amount of funds needed along with the progress of the construction. The disbursement can be done to the supplier of materials or builder or seller of property or local development authority.


    Why apply for an Axis Bank home loan through BankBazaar?

    Any customer can apply for an Axis bank home loan through BankBazaar. Being one the leading websites, BankBazaar is associated with the major players in the banking sector. The customer can easily compare the interest rates and different schemes available while looking for an Axis bank home loan on BankBazaar. Apart from this, it also saves a lot of time for the customer as he/she is able to get the required information with the click of a few buttons. Prospective home loan customers can easily check their eligibility and monthly EMI through the home loan EMI calculator on BankBazaar.


    New Axis Home Loan Interest Rate:

    As one of India’s premier private sector banks, Axis Bank is committed to offering its customers the best interest rates that piggyback the best home loan products in India. Interest rates start from 9.55% p.a (floating rate) for salaried applicants, while the same starts from 9.70% p.a for self-employed individuals. Again, this applies for loan amounts upto Rs.28 lakhs- with amounts above this mark commanding an interest rate starting from 9.65% p.a and 9.75% p.a for the above two cases respectively. Home loans with fixed interest rates are offered at 11.75% p.a.

    Features of Axis Bank Home Loan

    • Balance Transfer: For any existing home loan customer, Axis bank provides the facility of balance transfer. Be it any bank, Axis bank will readily accept the transfer after the necessary formalities have been completed.

    • Attractive Interest Rates: The interest rate on Axis bank home loans is comparatively low in the market. This ensures that the customer has more to save even after paying the monthly EMIs.

    • Service on the Doorstep: Most of the times, the working class does not have time to visit the branch to inquire about a home loan. Understanding this issue, Axis Bank provides the facility of doorstep service, wherein a loan executive will visit your house at a convenient time given by you.

    • Flexibility Interest Rates: For any person who understands the financial market, Axis Bank provides the facility of choosing between floating and fixing rates. The customer can easily choose any one, depending on the movement of the interest rates in the market.

    • Hassle free Documentation: The biggest fear among any loan applicant is the documentation involved in the procedure. However, this is one of the easiest parts of availing an Axis Bank home loan as there is very less documentation involved. The processing of the loan also does not take much time, which ensures better satisfaction.

    Eligibility

    The eligibility criterion for Axis bank home loan is based on income and age. For salaried persons, they should be working in a reputed firm or government organization. In the case of self employed, any person filing ITRs for the past 2 years can apply. The age for all individual applying should be above 24 years and less than 60 years for salaried and 65 years for professionals (doctors, CAs, management consultants) and self employed.



    News About Axis Bank Home Loan

    • Axis Bank unveils fixed home loan for housing within means

      Home loans with fixed interest rate have made a dramatic comeback in the arena. This is thanks to Axis Bank, the third biggest private bank in India, who recently rolled out such a plan. The bank has launched a fixed home loan scheme with a term of up to 20 years, priced at an affordable 10.4 percent. But here is the hitch. This ‘Fixed for Life’ interest housing loan is accessible only for loans up to INR 50 lacs for house/ apartment/ plot costing INR 65 lacs in metro cities and for availing up to INR 40 lacs for property costing INR 50 lacs in other regions. This financial product comes with the support of INR 5700 crore that was raised after trading some infrastructure bonds lately. With this, the bank intends to enhance the emphasis on infrastructure lending and on reasonable housing segment. Yes, Axis Bank is leaving no stone unturned to make the dream of affordable housing a reality.

      10th December, 2015

    • Readjusting home loan rates- Axis Bank Launches New Slab

      Axis Bank, India’s third biggest private bank in terms of assets, has recently launched a new slab for its home loan debtors with irresistible offers beginning at 9.55 percent. This is for those house loans that are less than INR 28 lacs as informed by the bank’s representative. If you are a salaried employee, you can avail Axis Bank home loans not exceeding INR 28 lacs at 9.55 percent. This is a mere .10 percent more than its currently reviewed key lending rate of 9.50 percent. And if the housing loan amount is more than INR 28 lacs, there will be a rate of 9.65 percent attached to it. These rates compare favorably with the likes of other top banks such as ICICI and HDFC, but is slightly pricier than what SBI offers.

      28th October 2015

    • Axis Bank, Lakshmi Vilas Bank Follow Suit, Trim Base Rates

      The recent directive by the RBI instructing banks to lower base rates has been met with almost instant compliance. Soon after the regulator issued its monetary policy statement for the ongoing fiscal year, major banks like SBI, HDFC and ICICI slashed their interest rates with immediate effect. Next to follow suit was Axis Bank, who snipped its base rates by 20 bps and is currently offering a revised interest rate of 9.95%. Lakshmi Vilas Bank too trimmed its base rate by 15 basis points and will bring a new rate of 11.10% into effect by April 14, 2015.


      Given that deposit growth is currently at an all-time low, at 11.4%, and with small savings offering an interest rate of 8.75%, attracting deposits has already become a challenge for banks. Considering this reason, analysts are predicting further rate cuts to be highly improbable in the near future.

      28th April 2015

    • Axis Bank aims at Affordable Housing Segment with Fixed Home Loans

      Axis Bank, the third largest private sector lender in India, has introduced a fixed interest rate home loan scheme in a view to increase its focus on the affordable housing segment. This fixed home loans plan can be availed for loans up to Rs.65 lakhs in metros and Rs.50 lakhs in other locations. This is for a tenure of 20 years at 10.4% interest. Axis Bank also has another comprehensive home loan product that can be accessed for amount more than Rs.50 lakhs with 11.75% interest.


      After recently raising Rs.5700 crores by selling infrastructure bonds, Axis bank has planned to concentrate on affordable housing segment. Because interest rates can unpredictably swing upwards in coming years, locking in to fixed rate loan schemes would give a great financial edge to the borrower.

      27th February 2015

    • Axis Bank Home Loan interest rate at 10.50 for next 20 years

      Axis Bank home loan is now available at an unbelievable offer of 10.50 percent interest rate for home loan of twenty 20 years tenure. The offer is only for a limited period of time and is looking to shake up the affordable home loan segment which is applicable for all home loans up to 50 lakhs. The dhamaka offer is just a shade of 25 bps, or 0.25 per cent above its current lending rates.


      Axis Bank President for Retail Lending Jairam Sridharan said the decision behind the offer was taken in consideration with principles. Yes, the company had to choose between bearing the cost on its own or passing it on to the customer.


      The one of a kind loan offers also has the flexibility of switching from fixed to floating rate of interest for a nominal fee and also has foreclosure benefits at the cost of 2 percent of the balance loan amount. Axis bank also clarified that the RBI mandate for zero pre-closure charges is only applicable for floating rate home loans and not fixed rate home loans.


      10th December 2014

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