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  • Axis Bank Home Loans Processing Fees & Charges

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  • 1%
    **1% of the loan amount (minimum of Rs.10,000)
    Interest Rate 8.90% onwards
    Maximum Tenure 30 years

    Types of Axis Bank Home Loans and their Processing Fees

    Axis Bank Home Loans Processing Fees
    Axis Bank Home Loan 1% of loan amount (minimum of Rs.10,000) Rs.2,500 + GST will be charged upfront at the time of application login
    Axis Bank QuikPay Home Loan
    Axis Bank Asha Home Loan
    Axis Bank Power Advantage Home Loan
    Axis Bank Shubh Aarambh Home Loan
    Axis Bank Fast Forward Loan
    Axis Bank Empower Home Loan
    Axis Bank Super Saver Home Loan
    Axis Bank Top-Up Home Loan

    * This fee will not be refunded in case the loan is rejected. The balance processing fee will be charged at the time of loan disbursement.

    Axis Bank Home Loan Processing Fees

    • Processing fees is 1% of the loan amount (minimum of Rs.10,000).
    • Loan amount: Minimum of Rs.3 lakh.
    • You can choose between floating or a fixed rate of interest.
    • Loan tenure: Maximum of 30 years.

    Axis Bank QuikPay Home Loan Processing Fees

    • Bank levied 1% of the loan amount or a minimum of Rs.10,000 as processing fee.
    • Pay higher principal amount earlier in the tenure, thereby reducing your EMI every month.
    • No repayment charges.

    Axis Bank Power Advantage Home Loan Processing Fees

    • Processing fee is 1% of the loan amount availed, subject to a minimum of Rs.10,000.
    • Interest rate during the initial two years will be fixed rate of interest and the balance of the loan tenure will be under the floating rate of interest.
    • You can choose to select the loan under the PMAY scheme.
    • Loan offered for the purpose of purchasing ready/ under-construction/resale/self-construction/plot + construction of home.

    Axis Bank Shubh Aarambh Home Loan Processing Fees

    • Bank charges 1% of the loan amount or Rs.10,000, whichever is higher, as processing fee.
    • By maintaining a clean track record, the bank offers to waive off 12 EMIs (4 EMIs every 4 years).
    • Loan amount: Maximum of Rs.30 lakh.
    • Lesser documentation.
    • Additional benefit of PMAY scheme.

    Axis Bank Fast Forward Home Loan Processing Fees

    • Processing fee under this loan is 1% of the loan amount (minimum of Rs.10,000).
    • No prepayment charges.
    • Loan amount: Minimum of Rs.30 lakh.
    • Get 12 EMI’s of your home loan waived at no extra cost.
    • Upon completion of 10 years of your home loan, you’re eligible for a waiver of 6 EMIs and the next 6 EMIs will be waived after the completion of 15 years.

    Axis Bank Asha Home Loan Processing Fees

    • Axis Bank charges 1% of the loan amount or a minimum of Rs.10,000 as processing fee.
    • Loan amount: Up to 90% of the property value (minimum of Rs.1 lakh and maximum of Rs.28 lakh).
    • 12 EMIs waiver benefit.
    • 4 EMIs waived off at the end of the fourth, eighth and twelfth year of the housing loan.

    Axis Bank Empower Home Loan Processing Fees

    • Bank levied 1% of the loan amount or a minimum of Rs.10,000 as processing fee.
    • Loan amount: Minimum of Rs.10 lakh and maximum of Rs.1.5 crore.
    • Subject to good payment records, the bank offers to reduce the three home loan rates of 24, 36, and 60 months.
    • Rate of interest: Starts at 9.25%.
    • No prepayment charges.

    Axis Bank Super Saver Home Loan Processing Fees

    • Axis Bank charges 1% of the loan amount or Rs.10,000, whichever is higher as processing fees towards the Super Saver Home Loan.
    • After the loan amount is disbursed, the principal amount reduces as you deposit any amount in the Super Saver account.
    • Rate of interest applicable only on the net principal outstanding amount.
    • You can also withdraw the excess funds from the Super Saver account.
    • Loan tenure: Maximum of 20 years.
    • No prepayment charges.

    Axis Bank Top-Up Home Loan Processing Fees

    • The processing fee is 1% of the loan amount, subject to a minimum of Rs.10,000.
    • Top-up loan of up to Rs.50 lakh against the mortgage of your house.
    • Loan can be availed for the purpose of construction of a house or commercial property, personal use or even for the purpose of business.

    Axis Bank Home Loan Other Charges

    Particulars Charges
    Penal Interest Rate 24% p.a.; 2% per month
    Switching Fees (BPLR/Base Rate to MCLR) If the effective rate is the same: Nil If the effective rate differs: 0.5% on the outstanding principal, subject to a minimum of Rs.10,000.
    Switching Fees (Floating to Fixed Rate of Interest) 1% on the outstanding principal, subject to a minimum of Rs.10,000.
    Switching Fees (Fixed to Floating Rate of Interest) 2% on the outstanding principal amount.
    Switching Fees (Higher Floating to Lower Floating Rate of Interest) 0.5% on the outstanding principal, subject to a minimum of Rs.10,000.
    Cheque Return/Repayment Instruction Rs.500 per instance.
    Instrument/Cheque Swap Rs.500 per instance.
    Duplicate Statement Issuance Rs.250 per instance.
    Duplicate Amortisation Schedule Issuance Rs.250 per instance.
    Duplicate Interest Certificate Issuance (Provisional/Actual) Rs.250 per instance.
    Credit Report Issuance Rs.50 per instance.
    Photocopy of Title Documents Rs.250 per set of documents.
    Customer Initiated Photocopies of Documents Rs.250 per set of documents.
    Prepayment including Part-Prepayment for Floating Rate of Interest Nil
    Prepayment Charges for Fixed Rate of Interest 2% of the outstanding principal amount.
    Equitable Mortage Creation As applicable in the respective State.
    CERSAI Rs.50 for loans up to Rs.5 lakh Rs.100 for loans above Rs.5 lakh
    Duplicate No-Objection Certificate Issuance Rs.500 per instance + GST
    Insurance/Loan Cover Property insurance is mandatory.

    FAQs

    1. Can I part-prepay my home loan with Axis Bank? What will be the charges towards part-prepayment of the housing loan?
    2. Yes. You can prepay the Axis Bank home loan. As for the charges, if you’re Axis Bank home loan is on a floating rate of interest, the bank does not charge any prepayment fee; however, if the loan is under the fixed rate of interest, the bank levies 2% on the outstanding principal amount as prepayment charges.

    3. Can I foreclose my Axis Bank home loan? What will be the charges?
    4. Yes, you can foreclose the home loan availed from Axis Bank; however, the bank will process the foreclosure upon clearing all outstanding dues. Upon clearance of all dues, you’ll have to submit a request at the Axis Bank Loan Centre, and they’ll start processing your request. As for the foreclosure charges, it’s the same as the charges towards prepayment. That is, 2% of the outstanding loan amount plus applicable taxes.

    5. What are the ways I can apply for an Axis Bank home loan?
    6. Axis Bank offers home loan application through online or you call their customer care or walk into one of the bank’s branches to apply for a home loan.

    7. What criteria Axis Bank investigates to be eligible for a home loan?
    8. Below are the criteria to be eligible for an Axis Bank home loan:

      • Income.
      • Age.
      • Dependents.
      • Assets and liabilities.
      • Stability and continuity of all applicants.
    9. What are the types of home loan interest rates offered by Axis Bank?
    10. Axis Bank offers housing loans with a floating or fixed rate of interest. While a fixed rate of interest remains static throughout the tenure of the loan, a floating rate of interest changes when Axis Bank revises its Base rate/MCLR.

    11. When and how does the floating interest rate change?
    12. The floating rate of interest on Axis Bank home loan changes when any one of the rates listed below changes:

      • The Marginal Cost of Lending Rate (MCLR) changes on the reset date for loans extended from 1 April 2016.
      • Mortgage Reference Rate (MRR) changes for a loan extended from 1 July 2010.
      • Base Rate (BR) changes for loans extended from 1 July 2010.

      Axis Bank revisits the MRR and BR on a regular basis by considering factors such as cost of funds, prevailing rate of interest, cost of operation, and provisioning needs.

    13. Can I apply for a home loan with Axis Bank along with a co-applicant?
    14. Yes, you can apply for an Axis Bank home loan along with a co-applicant, especially if the co-applicant is also the co-owner of the property. If you’re the sole owner of the property, then any immediate family member can become your co-applicant.

    15. Are there any tax benefits on my Axis Bank housing loan?
    16. Residents of India are eligible for tax benefits on both the interest and the principal amount of the housing loan under the Income Tax Act.

    17. What’s Axis Bank’s MCLR?
    18. The Marginal Cost of Lending Rate (MCLR) is tenure linked and Axis Bank revisits the rate and publishes it every month on a pre-determined date. The current Axis Bank MCLR is 8.75% and the frequency of the reset of home loans is half-yearly.

    19. What’s pre-EMI interest?
    20. Pre-EMI is the interest component of your EMI which also includes the principal amount. This is payable every month from the time the loan is disbursed until the start of the EMI.

    21. Can I begin paying my EMIs even if the bank has disbursed partial amount?
    22. Yes, you can. The EMI includes interest and principal components. Since only a partial loan amount has been disbursed, the interest component of the EMI will be much lower than the actual EMI.

      

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