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Axis Bank Home Loan Eligibility Calculator

Axis Bank Home Loan Eligibility in India 2021

Last Updated 07th Apr 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 calculated based on your age, income, property value and repayment capacity.
  • Increase your Axis Bank housing loan eligibility 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 based on Salary

Axis Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Axis Bank:

  • Net income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting 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 (assuming you have no other EMI’s to pay) would be ₹ 28,30,416 to ₹ 50,10,807 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 56,60,832 to ₹ 1,00,21,614 for same property at same rate depending on your age at the time of loan application.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years50.11 Lakh75.16 Lakh1 Cr
30 years50.11 Lakh75.16 Lakh1 Cr
35 years47.04 Lakh70.56 Lakh94.08 Lakh
40 years42.74 Lakh64.11 Lakh85.49 Lakh
45 years36.73 Lakh55.09 Lakh73.45 Lakh
50 years28.30 Lakh42.46 Lakh56.61 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.

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. Axis Bank home loan age limit to get the loan is 24 years of age at the time of loan commencement. 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 30 years for salaried borrowers and 30 years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:
Your current age Max tenure for salaried Max tenure for self employed
25 years30 years30 years
30 years30 years30 years
35 years25 years30 years
40 years20 years25 years
45 years15 years20 years
50 years10 years15 years

Home Loan Eligibility Axis Bank based on Value of Property

  • Value of property: Axis Bank will 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%
  • Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.

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

Minimum CIBIL Score for Axis Bank Home Loan

  • CIBIL Score: Your credit behaviour and track record from your past lenders and credit card providers gets captured in your CIBIL score. Banks consider this 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. When checking eligibility for home loan, Axis Bank will look at the complete CIBIL report, which also includes all past running loans and your payment track record on loans and credit cards. Higher credit score increases your chances that your loan application to Axis Bank will get approved. However, low CIBIL score will decrease your eligibility to get home loan. Axis Bank requires a minimum credit score of 650 to be eligible for a home loan.

There are few factors which affect your credit score -

  • Late payments – If you have delayed in payments on your existing or past loans, it negatively affects your CIBIL score and reduces your chances of getting a loan from Axis Bank.
  • High number of unsecured loans – Always keep a balance between secured and unsecured loans. More number of unsecured loans can adversely affect your credit score.
  • Usage of credit limit – Credit card bills and use of credit limit shows your credit behaviour. Outstanding credit card balance close to 30% of credit card limit reflects a potential financial stress, indiscipline on your part and may adversely impact your credit score.
  • Multiple loan applications – If you apply for loan in multiple banks at one time, it can affect your score negatively and reduce your CIBIL score. In case of application rejection from Axis Bank, improve your credit worthiness to get a good score.

You can use the housing loan eligibility calculator Axis Bank for quick calculation of your home loan eligibility.

Axis Bank Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter that Axis Bank uses to determine your Axis Bank 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 home loan from Axis Bank is 0.65. Calculate your eligibility with Axis Bank home loan calculator and apply for eligible loan amount hassle free.

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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.

Is Axis Bank good for home loan?

The lowest interest rate provided by Axis Bank is 6.75% 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.

Axis Bank Home Loan News - Apr 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.
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-01-28 : Axis Bank Q3 net profit down 36%
    Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore
  • 2020-10-30 : Axis Bank reported a net profit of ₹1,623 crores in Q2
    Axis Bank reported a net profit of ₹1,682.67 crores in the Q2 of FY21, as against a loss of ₹112 crores in the same period last year. The net interest income increased 20% y-o-y to ₹7,326 crore and its net interest margin (NIM) stood at 3.58%. Further, retail loans which include home, personal, gold, two-wheeler, gold and car loan grew 12% y-o-y to ₹3.05 trillion, accounting for 53% of the net advances of the bank.
  • 2020-10-23 : Axis Bank announced festive benefits
    Axis Bank announced Dil se Open Celebrations that will offer deals and discounts on more than 1 lakh branded products on purchase through Axis Bank credit and debit cards. Further, the bank is also offering some key benefits to customers who are in need of a loan, offering home loans starting at 6.90% as well as car loans at 7.99% and up to 100% road funding.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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