Axis Bank Loan Against Property
Axis bank allows you to avail loan against your properties. Availing loans against property is the best way to monetize on your property. The loan provided against property by Axis bank is applicable for both residential and commercial properties. The loan comes at a competitive rate of interest and allows refinancing with a takeover of an existing loan.
Features of Axis Bank Loan against Property (Mortgage Loan)
Listed below are the features of Axis Bank loan against property
- The loan comes at an attractive rate of interest
- Available for both residential and commercial properties
- Loans granted for purchase of commercial property under the scheme
- Take-over of existing loans along with the option of refinancing
- Flexible tenure period
- Lease rental discounting available
- Offers edge loyalty points on the loan
- Minimal documentation
- Doorstep service
- Easy and hassle free application process
- Can be applied for online
Benefits of Axis Bank Loan against Property
Listed below are the benefits of Axis Bank loan against property.
- Take-over of existing loan- The loan allows the take-over of an existing loan along with the option of refinancing if needed.
- Loyalty points- Loyalty points are awarded on loans depending on the disbursal amount.
Eligibility criteria for Axis Bank Loan against Property
Listed below is the eligibility criteria for Axis Bank loan against property (Mortgage Loan).
- The loan is available for salaried individuals, professionals and self-employed individuals.
- Minimum age is 24 years
- Maximum age at the time of maturity is 65 years
Fees and charges applicable on Axis Bank Loan against Property
Listed below are the fees and charges applicable on Axis Bank loan against property.
- Processing charges- 1% plus service tax
- Pre-payment charges- 2%
Interest rate for Axis Bank Loan against Property
The current rate of interest on Axis Bank loan against property is as follows.
- Interest rate on loan against self-occupied residential property- 11.75%
- Interest rate on loan against residential and commercial property- 12.75%