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Axis Bank Home Loan Eligibility Calculator

Axis Bank Home Loan Eligibility in India 2021

Last Updated 14th Jul 2021

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
  • Axis Bank home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • Axis Bank calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from Axis Bank by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

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 housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

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 age limit to get 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 interest rate of 6.75% offered by Axis Bank, the loan amount that you will be eligible for would be ₹ 28,41,809 to ₹ 50,57,367 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 56,83,619 to ₹ 1,01,14,733 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 years50.57 Lakh75.86 Lakh1.01 Cr
30 years50.57 Lakh75.86 Lakh1.01 Cr
35 years47.43 Lakh71.14 Lakh94.86 Lakh
40 years43.05 Lakh64.57 Lakh86.09 Lakh
45 years36.93 Lakh55.40 Lakh73.87 Lakh
50 years28.42 Lakh42.63 Lakh56.84 Lakh

You may consider repaying any loans with short tenure and high EMI in order 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.

Minimum CIBIL Score for Axis Bank Home Loan

  • CIBIL Score: Axis Bank considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from Axis Bank However, 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.

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. Minimum FOIR required to be eligible for Axis Bank home loan is 0.65. Calculate your eligibility with Axis Bank home loan calculator and apply for eligible loan amount hassle free.

Axis Bank Home Loan for Women Eligibility

Axis Bank offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In 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.

How can I Check my Axis Bank Home Loan Eligibility ?

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.

Axis Bank Home Loan Schemes Eligibility

Empower Home Loan

  • Resident individuals, self employed customers, professionals and non professionals individuals. He/she must be in business for atleast 3 years.

Asha Home Loan

  • Salaried, Professionals and self employed individuals with a minimum combined income of ₹ 8,000 per month or above.

Super Saver

  • An applicant must be above 21 years and below 60 years at the end of the tenure.
  • Any person filing ITR can apply.

Axis Bank Home Loan Top Up

  • For existing borrowers, loan is taken after 6 months of clear repayments and there should be minimum 1 EMI bounce in last 1 year.
  • Home Loan with balance transfer from other bank is approved after checking 1 year clear repayment record and for exisitng borrowers, 1 EMI bounce in last 1 year.

Other Loan Calculators

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 6.66% 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 - Jul 2021
  • 2021-07-09 : Axis Bank Q1 Net Profit seen up 95.2% YoY to Rs. 2,171.1 crores
    Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects Axis Bank to report a net profit of Rs. 2,171.1 crores up 95.2% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Two-wheeler Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 12.4% Y-o-Y to Rs. 7,851.8 crores.
  • 2021-06-18 : Axis Bank revised its MCLR
    With effect from 18 June 2021, Axis Bank revised its MCLR. The overnight and one-month MCLR is 7.15%. The MCLR for three months, six months and one year is 7.25%, 7.30% and 7.35% respectively. The MCLR rate for long tenors of two years and three years is 7.45% and 7.50%.
  • 2021-05-20 : Axis Bank revised the marginal cost of lending rates
    With effect from 18 May 2021, Axis Bank revised its MCLR. The overnight and one-month MCLR is 7.15%. The MCLR for three months, six months and one year is 7.15%, 7.25% and 7.30%, respectively. The MCLR rate for long tenors of two years and three years is 7.30% and 7.35%. The revised rates will impact MCLR based home loans.
  • 2021-05-04 : Axis Bank reduced its home loan balance transfer rates to 6.70%
    Axis Bank in a quest to attract home loan buyers reduced its balance transfer rates. The new rates start from 6.70%. The revised rates will be effective from 1 May 2021.
  • 2021-03-05 : Axis Bank launches WhatsApp banking
    Axis Bank launched banking services on WhatsApp. The new facility will enable its retail customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time.
*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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