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  • Axis Bank Home Loan Calculator

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  • Updated as per Latest Rates on 18th June 2019

    You can calculate the home loan EMI easily using the Axis Bank Home Loan EMI calculator. Apart from letting you know the amount that needs to be paid every month you can also get the loan repayment details. The minimum EMI that you need to pay for every lakh is Rs.797

    To use the calculator, you need to know the Axis bank home loan interest rates, loan amount, and tenure. Enter the values and you’ll get a full break-up of your monthly repayments.

    Axis Home Loan EMI Calculator 2019

    Calculate Your Axis Bank Home Loan Monthly Repayment

    The table below gives you an idea of the EMIs for various tenures and loan amounts:

    Amount→
    Tenure↓
    Rs.10 Lakh Rs.20 Lakh Rs.40 Lakh Rs.50 Lakh
    10 years Rs.12,133 Rs.24,266 Rs.48,531 Rs.60,664
    20 years Rs.8,364 Rs.16,729 Rs.33,458 Rs.41,822
    30 years Rs.7,338 Rs.14,675 Rs.29,351 Rs.36,688

    Suppose you are applying for the Axis Bank Home Loan scheme at an interest rate of 8% p.a. and a loan amount of Rs.30 lakh, Rs.50 lakh, Rs.70 lakh or Rs.1 crore. Using the Bankbazaar Home Loan EMI Calculator, you can find the EMIs, processing fee and total interest payable on various tenures. In the above example, we’ve kept the processing fee as 0.35% and selected ‘No’ for pre-payments.

    Axis Bank Home Loan Interest Rates: As of 17 Oct 2019, Axis Bank charges the following interest rates (floating) for its home loans:

    • For salaried persons: From 8.9% p.a. to 9.1% p.a.
    • For self-employed persons: From 8.95% p.a. to 9.15% p.a.

    The bank also offers a fixed interest rate of 12% p.a. across all loan amounts for a period of 20 years.

    Axis Bank Home Loan Processing Fee: The bank charges a fee to process your loan and disburse it. This is either up to 1% of your loan amount or Rs.10,000, whichever is higher. The fee you have to mandatorily pay at the time of application is Rs.2,500 plus any taxes that apply. This fee is non-refundable, even if your application is rejected.

    Axis Bank Loan amount and tenure: The minimum amount of loan you can take is Rs.3 lakh and the maximum amount is Rs.5 crore. The shortest tenure available is 1 year and the longest is 30 years.

    Repayment schedule of your Axis Bank Home Loan: Now let’s look at an illustration to understand how repayment works.

    Let’s say you want to take a loan of Rs.10 lakh for a tenure of 10 years. Assuming the bank charges you an interest rate of 9.1% p.a. and a processing fee of Rs.10,000 (10,00,000 x 1%), you’ll pay an EMI of Rs.12,722. Here’s how your loan will be repaid:

    Year Principal Paid (A) (Rs.) Interest Paid (B) (Rs.) Total Payment (A+B) (Rs.) Outstanding Loan Balance (Rs.)
    2019 53,173 74,044 1,27,217 9,46,826
    2020 69,348 83,316 1,52,664 8,77,481
    2021 75,927 76,735 1,52,662 8,01,556
    2022 83,130 69,531 1,52,661 7,18,426
    2023 91,018 61,642 1,52,660 6,27,408
    2024 99,653 53,007 1,52,660 5,27,752
    2025 1,09,112 43,550 1,52,662 4,18,640
    2026 1,19,466 33,194 1,52,660 2,99,174
    2027 1,30,802 21,857 1,52,659 1,68,372
    2028 1,43,215 9,447 1,52,662 25,157
    2029 25,157 287 25,444 0

    Axis Bank Housing Loan EMI Calculator FAQs

    1. Do all EMI calculators function in the same way?
    2. Yes, every EMI calculator that uses the principal amount, interest rate, and tenure for calculation works in the same manner. However, BankBazaar’s calculator also gives you the repayment details so that you know how much of each EMI goes towards repaying the principal and how much is charged as interest.

    3. Is the result displayed accurately?
    4. Every EMI calculator works based on the inputs you give it. However, there sometimes may be a slight difference between your result and the figures the bank gives. This is because the bank may also include other fees and charges.

    5. What is the advantage of calculating my Axis Bank loan EMI?
    6. Calculating your EMI can help you in various ways, some of which include:

      • You can have better control over your monthly budget. By knowing exactly how much you must pay every month, you can plan the rest of your expenses accordingly.
      • The principal-interest ratio will give you an idea of the cost of your loan. That is, you get to know how much interest you have to pay during your loan period.
      • BankBazaar’s tool also allows you to include prepayment details when calculating your monthly repayment schedule.
    7. Do prepayments or part payments help in the long run?
    8. When you make payments before they are due, they reduce the outstanding principal amount. Because the interest is charged on a reducing balance method, making prepayments help reduce your interest charges. This way, you can clear your loan faster.

    9. I see that the interest charges in the repayment table are higher during the initial months of the loan. Why is this?
    10. Since the interest rate is applied based on the principle of reducing balances, the interest charges are slightly higher during the initial phase (since the principal outstanding is higher). As this reduces, the interest charges also reduce proportionately.

      

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