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Axis Bank Home Loan Eligibility Calculator

Home Loan Eligibility Calculator Axis Bank 2022

Last Updated 11th Jan 2022

Eligibility CriteriaAxis Bank Home Loan
Eligible Age of Borrower24 - 60 years
Minimum Eligible Income ₹ 25,000 and above
Work Experience for Salaried2 years
Business Stability for Self Employed5 years
Home Loan Eligibility Calculator

What is Axis Bank Home Loan Eligibility?

Axis Bank offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Axis Bank home loan eligibility is defined as a set of parameters that determines the creditworthiness of the borrowers based on factors like age, salary, occupation, property type and credit score. You can get details about the eligibility for a Axis Bank home loan using the Axis Bank home loan eligibility calculator. It is an online tool that uses mathematical algorithms to check if you are eligible for a home loan or not. In addition, you can know about the amount that you are eligible for.

How is Home Loan Eligibility Calculated by Axis Bank?

Axis Bank Housing loan eligibility is primarily dependent on income and repayment capacity. Other factors that may impact the eligibility of home loans are age, financial position, credit history, credit score, other financial obligations etc.

Axis Bank Home Loan Eligibility Based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum Axis Bank home loan age limit to get a Axis Bank home loan is 24 years at the time of loan commencement and maximum age limit is 60 years. Axis Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

Axis Bank Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much Axis Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at an interest rate of 6.70% offered by Axis Bank, the loan amount that you will be eligible for would be ₹ 28,43,079 to ₹ 50,62,582 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 56,86,159 to ₹ 1,01,25,165 for the same property at the same rate depending on your age at the time of loan application. However, Axis Bank asks for a net monthly income of ₹ 25,000 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years50.63 Lakh75.94 Lakh1.01 Cr
30 years50.63 Lakh75.94 Lakh1.01 Cr
35 years47.47 Lakh71.21 Lakh94.94 Lakh
40 years43.08 Lakh64.62 Lakh86.16 Lakh
45 years36.96 Lakh55.44 Lakh73.92 Lakh
50 years28.43 Lakh42.65 Lakh56.86 Lakh

You may consider repaying any loans with short tenure and high EMI to increase your Axis Bank home loan eligibility.

  • Nature of employment: Axis Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Axis Bank requires minimum income history and job stability of more than 2 years for salaried individuals and of 5 years for self-employed individuals.

Home Loan Eligibility Axis Bank based on Value of Property

  • Value of property: Axis Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Axis Bank's legal team.

The housing loan eligibility calculator of Axis Bank can be a useful tool to assess your eligibility for the loan.

Axis Bank Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by Axis Bank to determine your home loan eligibility. Axis Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. The minimum FOIR required to be eligible for an Axis Bank home loan is 0.65. Calculate your eligibility with the Axis Bank home loan calculator and apply for the eligible loan amount hassle-free.

Axis Bank Home Loan Eligibility for Women

Axis Bank offers the same rates to women borrowers starting at 6.70% with similar eligibility criteria for home loan. In the case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

Minimum CIBIL Score for Axis Bank Home Loan

Axis Bank considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from Axis Bank. However, a low CIBIL score reduces your chances to get a home loan. Axis Bank requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance Axis Bank Home Loan Eligibility?

You can enhance the Axis Bank home loan eligibility using the tips mentioned below:

  • Add an earning family member as a co-applicant.
  • Ensure a steady income flow, regular savings and investments.
  • Provide details of your regular additional income sources.
  • Track your variable salary components.
  • Take actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short term debts.

How to Use Axis Bank’s Home Loan Eligibility Calculator?

To check Axis Bank home loan eligibility perform the following steps:-

  • Go to the Axis Bank website
  • Now navigate to the option Axis Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also, you can contact the bank by calling on their customer care number 1860-419-5555/ 1860-500-5555.

FAQs

What is the criteria to get Axis Bank home loan?

The basic criteria to get a home loan from Axis Bank are as following:

Age24 - 60 years
Income ₹ 25,000
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Axis Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Axis Bank?

The minimum salary required to avail home loan from Axis Bank is ₹ 25,000.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Axis Bank.

Is Axis Bank good for home loan?

The lowest interest rate provided by Axis Bank is 6.65% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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Axis Bank Home Loan News - Jan 2022
  • 2021-12-15 : Axis Bank Witness Credit Growth in 18-24 Months
    Axis Bank has seen double-digit growth in GDP and Credit in FY 2024. At the same time, the GDP and credit are seen at 9.5% and 7% in FY 2022. Therefore, the bank aims to achieve GDP and Credit Growth at 8.2% and 8%, respectively.
  • 2021-10-27 : Axis Bank Reports A Growth Of 86 percent
    Axis Bank has reported a growth of 86 percent in net profit at Rs 3,133 crore in the second quarter ended Septe­mber 2021, predominantly on robust growth in fee income and sharp fall in provisions. Last year the bank posted a net profit of Rs 1,683 crore in Q2 of FY21.
  • 2021-10-20 : Axis Bank Introduces Festival Offer
    Axis Bank has announced a waiver of 12 EMIs on selected home loan products under the festival offer Dil Se Open Celebrations kyunki Diwali roz roz nahi aati. Also, two-wheeler loans are offered at an on-road price and without processing fees.
  • 2021-10-14 : Axis Bank Slashes Home Loan Balance Transfer Rate
    Indian private sector bank, Axis Bank has revised home loan balance transfer rates. Now, the lender is offering a rate of 6.60%, earlier the rate was 6.90%. Also, processing fees are decreased to Rs 2021+GST.
  • 2021-10-12 : Axis Bank Has Launched Open API For Customers
    Axis Bank unveils open APIs (Application Programming Interface), these APIs will help retail and corporate customers/ partners to use banking services integrated across partner platforms. This banking portal has retail as well as corporate products like loans, accounts, deposits, payments, trade, collections and bills.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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