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The Shubh Aarambh Home Loan offered by Axis Bank provides home loan services with minimum documentation and the disbursal process is easy and quick. By qualifying for the Pradhan Mantri Awas Yojana Scheme, individuals can take advantage of the subsidised interest rates that come with the Shubh Aarambh Home Loan.
Equated Monthly Instalments (EMIs) are waived for 12 months for individuals who have a clean repayment record. Individuals can apply for a loan online by completing a 3-step process.
The rate of interest for the Shubh Aarambh Home Loan provided by Axis Bank is mentioned in the tables below:
Type | Amount of loan (Rs.) | Effective interest rates (%) |
---|---|---|
Floating Rate | Up to Rs.30 lakh | 7.75% p.a. |
Floating Rate | In case existing customers wish to avail a top-up | Â |
Type | Amount of loan (Rs.) | Effective interest rates (%) |
---|---|---|
Floating Rate | Up to Rs.30 lakh | 8% p.a. |
Floating Rate | In case existing customers wish to avail a top-up | Â |
The eligibility criteria to avail a Shubh Aarambh Home Loan from Axis Bank are provided below:
The main features and benefits of the Shubh Aarambh Home Loan are mentioned below:
The documents that must be submitted to avail the home loan are mentioned below:
Salaried Employee
Self-employed individuals
The various fees and charges of the Shubh Aarambh Home Loan are mentioned below:
Description of charges | Charges (Rs.) |
---|---|
Processing charges | 1% of the loan amount that has been availed up to a maximum of Rs.10,000. |
Penal Interest Rate | 2% on a monthly basis |
Charges for cheque return | Rs.500 for every instance |
Issuing a duplicate statement | Rs.250 for every instance |
Issuing of credit report | Rs.50 for every instance |
Issuing a photocopy of the title documents | Rs.250 for a set of documents |
Prepayment charges | Nil |
Charges in case customer requests for a copy of the documents | Rs.250 for a set of documents |
No, under this scheme, a home loan is provided only under the floating rate option.
Yes, under the scheme, individuals are allowed to make prepayments that are completely flexible.
No, individuals cannot increase the tenure and reduce the EMI.
No, under this scheme, the EMI cycle will remain the fifth of every month. No changes in EMI cycle is allowed.
No, Non-Resident Indians are not allowed to avail a home loan under this scheme.
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Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.