Kuchh Baat Aapke Interest Ki Login
Apply Home Loan @8.35%* Get upto Rs. 5,000/- Cashback*

Axis Home Loan Interest Rate - Sep 2017

Last Updated 19th Sep 2017

Axis Bank Home Loan Interest Rates

Interest Rate 8.35% - 10.50%
Check Best Offers
Lowest EMI Rs. 758 per lakh
Max Tenure 30 years
Processing Fee Minimum Rs. 2,500 Maximum Rs. 5,000
Prepayment, Foreclosure Charges Allowed with Nil charges for floating rate loans
Age Min 24 and Max 60 years for Salaried
Min 24 and Max 65 years for Self Employed
Apply Home Loan @ 8.35%*
Rs.
Rs.
+91

Axis Bank Home Loan

Axis Bank offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. Taking a loan from Axis Bank has the following benefits:

  • Quick loan processing with complete transparency
  • Pay less EMIs for a longer tenure up to 30 years
  • Top up loan available at home loan rate

Axis Bank Home Loan Interest Rates

In addition to its regular loan products, bank also offers customized loans for special categories of borrowers. Bank offers lower rates to ladies borrowers. Click on the details to get slabwise interest rates.

Axis Bank Floating Rate Home Loans

Axis Bank Home Loan Interest Rates
Axis Bank Home Loan Floating 8.35% - 8.40%
Details+
Empower Home Loan 8.35% - 8.40%
Details+
Asha Home Loans Floating 9.75%
Details+
Happy Ending Home Loans 9.15% - 9.35%
Details+
Axis Bank Home Loan Balance Transfer 8.35%
Details+

Axis Bank Fixed Rate Home Loans

Product Interest Rates
Axis Bank Home Loan Fixed 12.50%
Details+
Asha Home Loans Fixed 12.50%
Details+

Axis Bank home loan interest rate depends upon

  • Loan amount: Housing loan rate in Axis Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
  • Your Salary: Income helps you in identifying your rate of interest. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate
  • Type of loan opted for: Axis Bank also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.

Interest Rate and its impact on Axis Bank Home Loan Eligibility

Axis Bank has detailed criteria to determine a potential borrower’s eligibility for housing loans. These eligibility criteria determine the loan amount you can avail. Interest rate offered by Axis Bank also impacts the amount of loan you can avail from Axis Bank.
Some of the key eligibility criteria are summarized in the table below:

Axis Bank Home Loan Eligibility Criteria
Interest Rate 8.35% - 10.50%
Age 24 - 60 years
Minimum Income Rs. 8,000
Job Stability in case of Salaried (in years) 2 years
Minimum Credit Score 650 and above
Loan Amount Rs. 1,500,000 to Rs. 50,000,000
Loan to Value Ratio Upto 85%
FOIR (Fixed Obligations to Income Ratio) Up to 0.65

Home Loan Charges Applicable (Other than Interest)

In addition to interest rates, home loan also carry some other charges which include:

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Axis Bank allows prepayment of house loan with Nil prepayment charges
  • Processing Fee - Axis Bank charges a processing fee of Minimum Rs. 2,500 Maximum Rs. 5,000 with applicable tax
  • Other Charges - Bank also charges technical and legal charges which are explained to the customer during the loan process.

Home Loan Products and Rates

Axis Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Happy Ending Home Loan

Description:
  • Easy loan processing.
  • Nil prepayment charges.
  • Hassle free home loan balance transfer facility available.
  • Simple EMI based loan for easy purchase of a ready made house. Borrowers are rewarded with free last 12 EMIs upon the regular payment of their EMIS on loan with no extra added cost.
Who is Eligible?
  • Salaried, professional, self-employed individuals.
  • Customers who want to purchase their first own house. Borrowers are rewarded by the bank for their regular repayment history by waiving off the last 12 EMIs.
Key Loan Terms
  • Home loan available at the age of 24 - 60 years
  • Loan amount that you can borrow ranges from Rs. 300,000 to Rs. 50,000,000
  • Option to apply for a maximum ltv of 85% of value of the property
  • Housing loan for a maximum period of 30 years

Empower Home Loan

Description:
  • Loan for purchasing a ready made house or house currently under construction.
  • Pay your home loan with Nil prepayment charges.
  • Availability of affordable interest rates. Hassle free home loan balance transfer facility available.
  • Loan for purchasing a ready made house or house currently under construction. The loan can also be used to renovate your exiting house property.
Who is Eligible?
  • Resident individuals, self-employed customers, professionals and non-professionals individuals.
  • Customers who want to purchase a new house or house currently under construction.
Key Loan Terms
  • Home loan available at the age of 24 - 60 years
  • Loan amount that you can borrow ranges from Rs. 100,000 to Rs. 15,000,000
  • Option to apply for a maximum ltv of 65% of value of the property
  • Housing loan for a maximum period of 20 years

Asha Home Loan

Description:
  • Loan for purchasing a ready made house or constructing your own house. Loan up to 85% of the property value.
  • Customized loan settlement options for better loan eligibility.
  • Attractive and affordable interest rates. Hassle free home loan balance transfer to the bank.
  • Loan for purchasing a ready house or constructing your own house. The loan can also be used to buy a under construction property or the property put up for resale.
Who is Eligible?
  • Salaried, Professionals and self employed individuals with a minimum combined income of Rs. 8,000 per month or above.
  • Customers who want to purchase a new house or wants to construct their first dream house.
Key Loan Terms
  • Home loan available at the age of 24 - 60 years
  • Loan amount that you can borrow ranges from Rs. 100,000 to Rs. 2,800,000
  • Option to apply for a maximum ltv of 85% of value of the property
  • Housing loan for a maximum period of 30 years

Super Saver

Description:
    • Loans that gives the option to park your additional funds which will reduce the interest payable on home loan to the level of fund parked with an ease to withdraw the amount anytime.
    Who is Eligible?
      • Customers who want to save interest on their loan amount that they pay towards their loan by depositing the surplus amounts into their Super Saver Account which helps the borrowers to reduce their outstanding principal.
      Key Loan Terms
      • Home loan available at the age of 24 - 60 years
      • Loan amount that you can borrow ranges from Rs. 1,500,000 to Rs. 50,000,000
      • Option to apply for a maximum ltv of 85% of value of the property
      • Housing loan for a maximum period of 30 years

      Axis Bank Home Loan Eligibility Calculator

      Axis Bank Home Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as the value of property. It is important to calculate eligibility for housing loan from Axis Bank. You can use eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

      SBI Home Loan EMI and Interest Calculator

      Further, you can also use the Axis Bank Home Loan EMI Calculator online to calculate your house loan EMI. EMI is a fixed amount that you pay each month towards the repayment of yourloan till the end of tenure

      • EMI calculator of Axis Bank helps you to calculate your monthly EMI at different rate of interest and also check and compare lowest EMI per lakh on home loan
      • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
      • Rate of interest is an important factor which affects your EMI. Higher the rate, higher will be the EMI. You can also estimate the interest amount you pay over the tenure of the loan at various loan tenure as well as interest rates
      • Loan tenure matters equally as higher tenure reduces your EMI

      What are the benefits of calculating Axis Bank Housing Loan EMI?

      • EMI calculator helps you to calculate your monthly EMI at different rate of interest
      • Axis Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
      • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

      Housing Loan Axis documents required

      For Salaried employee

      • Filled up loan application form
      • 2 Passport Size Photo
      • ITR of last 2 years
      • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
      • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

      For Self-Employed

      • Filled up loan application form
      • 2 Passport Size Photo
      • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
      • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

      Frequently Asked Questions

      Why to take home loan from Axis Bank?

      Axis Bank offers housing loan at 8.35% rate with the lowest EMI of Rs. 758 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Axis Bank.

      What is the maximum loan tenure I can opt under Axis Bank house loan?

      Axis Bank offers you a longer tenure of 30 years to repay your loan with a benefit of paying less EMI per month.

      Do I get tax benefit on home loan from Axis Bank?

      As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

      Can I foreclosure my home loan? What are the charges applicable?

      Yes, you can foreclose your loan with Nil charges.

      Can I transfer my house loan from another bank to Axis Bank?

      Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to Axis Bank offers you to pay lower EMIs and save money.

      Can I club the income of my spouse with mine and apply for joint home loan?

      You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

      What is the benchmark applicable for housing loan?

      The benchmark applicable for home loan in Axis Bank is 6 Month MCLR.

      What is the effect of part payments on Axis Bank housing loan EMI ?

      Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

      How to increase my eligibility on Axis Bank housing loan?

      If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

      How will interest rate on Axis Bank housing loan change in future?
      • Floating rate on Axis Bank housing loan is linked to its 6 Month MCLR Rate, which is currently at 8.15%. When Bank offers a home loan at 8.35%, it applies a premium of 0.2% to its MCLR Rate to arrive at this home loan rate.
      • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.
      How much margin would I have to pay on home loan?
      S. NO. Loan Amount Margin
      1 Up to Rs. 20 Lacs 15%
      2 Above Rs. 20 Lacs to upto Rs. 75 Lacs 20%
      3 Above Rs. 75 Lacs 25%
      Do I need a co-applicant to apply for a home loan? If yes, who can be a co-applicant for my home loan?

      Yes, it is obligatory to have a co-applicant to apply for a home loan. If you are the single owner of the property, then any other member from your family can be your co-applicant but if someone else is co-owner of your property then that person needs to be the co-applicant for your home loan.

      Can I convert my loan rate from fixed rate to floating rate or vice-versa? What are the charges applicable?

      Yes, you can convert your home loan rates from fixed rate to floating rate and vice- versa. The charges applicable are as following:

      • On conversion of loan from fixed rate to floating rate, charges are 2% of the outstanding loan amount
      • On floating rate to fixed rate loan conversion, you will be charged 1% on the outstanding principal with minimum amount of Rs. 10, 000
      Am I eligible for top up on my existing home loan?

      Axis bank allows you to top up your existing home loan on more than 30% of the current amount at home loan rates only.

      Axis Home Loan in India

      Axis Bank Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

      City Customer Care Number
      Agra 0522-2230857
      Ahmedabad 079-26563232
      Ambala 0172-2620489
      Anand 079-26563232
      Aurangabad 022-25260501
      Bangalore 080-25317830
      Bhilai 1800-209-5577
      Bhilwara 1800-209-5577
      Bhiwadi 022-25260501
      Bhopal 0755-2579009
      Bhubaneswar Cuttack 0674-2572955
      Bikaner 1800-209-5577
      Chandigarh 0172-2620489
      Chennai 044-28123888
      Cochin 1800-209-5577
      Coimbatore 044-28123888
      Dehradun 1800-209-5577
      Delhi 011-23736555
      Durg 1800-209-5577
      Faridabad 0124-2309447
      Gandhinagar 079-26563232
      Ghaziabad 0522-2230857
      Goa 022-25260501
      Greater Noida 011-23736555
      Gurgaon 0124-2309447
      Guwahati 0361-2341818
      Gwalior 0755-2579009
      Hyderabad 040-23418888
      Indore 0755-2579009
      Jabalpur 0755-2579009
      Jaipur 0141-2228866
      Jalandhar 0172-2620489
      Jodhpur 1800-209-5577
      Kanpur 0522-2230857
      Karnal 0124-2309447
      Kolhapur 022-25260501
      Kolkata 033-22839971
      Kota 1800-209-5577
      Kozhikode 0471-2558588
      Lucknow 0522-2230857
      Ludhiana 0172-2620489
      Madurai 044-28123888
      Meerut 0522-2230857
      Mehsana 079-26563232
      Mohali Sas Nagar 0172-2620489
      Mumbai 022-25260501
      Mussoorie 1800-209-5577
      Nagpur 022-25260501
      Nashik 1800-209-5577
      Noida 011-23736555
      Noida Extn 011-23736555
      Panipat 0124-2309447
      Patna 0612-2205810
      Pondicherry 1800-209-5577
      Pune 022-25260501
      Raipur 1800-209-5577
      Rajkot 079-26563232
      Ranchi 1800-209-5577
      Rohtak 0124-2309447
      Roorkee 1800-209-5577
      Salem 044-28123888
      Shimla 0177-2627711
      Sonepat 0124-2309447
      Surat 079-26563232
      Trichy 044-28123888
      Udaipur 1800-209-5577
      Vadodara 079-26563232
      Varanasi 0522-2230857
      Vijaywada 1800-209-5577
      Vizag 1800-209-5577
      Axis Bank Home Loan Interest Rate
      Check
      Lowest EMI
      Check
      Home Loan Eligibility
      *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. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.