Axis Home Loan EMI Calculator

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Axis Bank Home Loan EMI Calculator

Last Updated 17th Oct 16

Axis Home Loan - Lowest EMI is Rs. 830 per lakh

  • Get monthly EMI as low as Rs. 830 per lakh with Axis Bank now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by Axis Bank is 9.35%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,035 for a 15 year loan and Rs. 922 for a 20 year loan. Check the EMI for other tenures using the Axis Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Axis Bank

Axis Bank Home Loan EMI Calculator

Axis Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Axis Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Axis Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 830 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Axis Bank on Home Loan is 9.35%. You can check EMI for other tenures using our Axis Bank Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 25,88023,05920,748
    5,000,000 51,76046,11841,497
    7,500,000 77,63969,17762,245
    10,000,000 103,51992,23682,993
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Axis Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Axis Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 100,000,000
r = Rate of interest per month. Current rate is 9.35%, which is linked to 6 Month MCLR, last revised on 18th Oct 16
n = tenure in month. For Axis Bank, this can be 360 months

Will the Axis home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by Axis Bank subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, Axis Bank will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Axis Bank, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • Axis Bank allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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Axis Home Loan EMI Calculator News - Oct 2016
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank cuts it benchmark MCLR by 5 bps with effect from Tuesday. The bank has reduced down its rates across tenures, effectively reducing the overnight rates to 8.80 per cent while their three year lending rate is 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra, and Indian bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.
15th Oct 16 Axis, Kotak Mahindra Banks tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology, now other private sector banks gear up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances, while HDFC is still assessing the opportunity.
12th Sep 16 Freecharge, Axis Bank tie-up to launch UPI payments for consumers, merchants
Freecharge has tied up with Axis Bank to start Unified Payments Interface (UPI) enabled payment on its Android app. This app will enable consumers to make instant seamless transactions from their smartphone using a virtual payment address (VPA). Consumers can create a virtual address on the Freecharge Android app and link it to their bank account to register on the UPI app. This feature will allow consumers to pay on Freecharge in a secure way for transactions and bill payments.
27th Aug 16 Axis Bank launches NFC payments on GoQii devices, opens innovation lab for startups
Axis Bank launches NFC payments on GOQii fitness wearable devices and also opened an innovation lab called Thought Factory that would focus on developing innovative tech solutions which can improve customer experience in banking. This is the first time that health and fintech are working together in the Indian startup network. The bank has identified 120 startups for this scheme for a three month mentorship program. The lab will also host accelerator programs for startups who will work closely with intrapreneurs from Axis.
27th Aug 16 Axis Bank partners Amazon, Visa to help Indian fintech startups
Axis Bank has entered into a strategic partnership with Amazon Internet Services to setup a co-working center at its Thought Factory in Bengaluru. With this collaboration, Amazon will be hosting sessions with AWS technical experts for startups along with offering AWS credits, conducting thought leadership talks, bootcamps and startup pitches among others. Apart from Amazon, Axis Bank is also associating with Visa to co-create digital trade solutions for startups under its Innovative Lab Facility Thought Factory. Axis Bank is also collaborating with OverseasChinese Banking Corporation fintech unit The Open Vault at OCBC for information sharing and offering mentoring to startups