Axis Home Loan Interest Rate Calculator - Dec 2016

Axis Bank Home Loan Interest Rates

Last Updated 16th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 9.10% - 9.15%
Check Special Offers
Lowest EMI Rs. 812 per lakh
Max Tenure 30 years
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 Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Axis Bank Home Loan

Axis Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. There are some features of taking home loan from Axis Bank:
  • 100% top up at home loan rate
  • Last 12 EMI waiver
  • Special products - Asha, Saksham

Home Loan Axis

Home loan interest rates offered by Axis Bank depends upon MCLR.
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in MCLR rate and should be chosen only if you believe that the rates will not hike in future.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
Axis Bank offers home loan based on 6 Month MCLR rates which is currently 9.00%.
Axis Bank home loan interest rate depends upon
  • Loan amount: Home loan rate in Axis Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Axis Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Axis Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • 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 home loan with Nil prepayment charges
  • Processing Fee - Axis Bank asks for a processing fee of 0.00% of loan amount with applicable service tax
You can even earn eDGE points on Axis bank home loan
On new home loan:
Loan Disbursal Amount eDGE Points
Up to Rs. 25 Lakh 500 points
Above Rs. 25 Lakh and up to Rs. 75 Lakh 1,000 points
Above Rs. 75 Lakh 2,000 points
On home loan top-up:
Loan Disbursal Amount eDGE Points
Up to Rs. 25 Lakh 250 points
Above Rs. 25 Lakh and up to Rs. 75 Lakh 500 points
Above Rs. 75 Lakh 1,000 points

Axis Home Loan EMI Calculator

    Home Loan EMI of Axis Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of Axis Bank helps you to calculate your monthly EMI at different rate of interest and also check 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 interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Axis Bank Home Loan EMI?
  • EMI calculator of Axis Bank 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

Axis Home Loan Eligibility Calculator

Home Loan eligibility criteria Axis Bank
Eligibility of House loan in Axis Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. Axis Bank offers Home loan to salaried at the age of 24 to 60 years and self employed individuals at 24 to 65 years
  • Income: In case of salaried person, Axis Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Axis Bank. In case you are salaried, you must be in a full time job for at least 2 months. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Axis Bank eligibility. If you are working with a reputed company, probability of getting home loan from Axis Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Axis Bank gives you Home loan depending upon your income. Axis Bank gives you an amount ranging from Rs. 1,500,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.
    Popular Products
    Axis offers you different type of loans.

    Happy Ending Home Loan

    • The principal benefit of availing happy ending home loan is that you get your last 12 EMIs waived off by just paying your EMIs regularly. The minimum tenure to get the benefit needs to be 20 years. You can also part pay your home loan within 5 years of loan disbursement.

    Empower Home Loan

    • Empower home loans are made for self employed class only. If they maintain a good repayment track with the bank for 24, 36 and 60 months from the date of loan disbursement then the bank will offer them 3 rate reductions correspondingly

    Asha Home Loan

    • This type of housing loan is for the customers who want to own their first house. In this type of loan your monthly income and profession is not any criteria to avail the loan. The loan is given on the basis of your banking performance or previous repayment track
    • You can even borrow Rs. 1 lakh under this scheme
    • Depending upon the location, your combine income with your spouse should be 8000 p.m. or 10000 p.m. and you need to pay only 10% of the property value rest 90% the bank will fund you

    Super Saver

    • This type of home loans gives you the option to park 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
    • You can apply for a minimum loan amount of Rs. 1 Crore for a tenure of 20 years
    • The bank will also give you services like ATM card, cheque book, phone banking and internet banking to make the most of it

    Axis Bank Floating Rate Home Loans

    Axis Bank Home Loan Floating
    Upto Rs. 2,800,000 - 9.10%
    Rs. 2,800,001 - 7,500,000 - 9.10%
    Rs. 7,500,001 - 50,000,000 - 9.15%
    Above Rs. 50,000,000 - 9.15% linked to 6 Month MCLR
    with Super Saver Home Loan Facility
    Upto Rs. 2,800,000 - 9.60%
    Above Rs. 2,800,001 - 7,500,000 - 9.60%
    Above Rs. 7,500,001 - 50,000,000 - 9.60%
    Above Rs. 50,000,000 - 9.60% linked to 6 Month MCLR
    Asha Home Loans Floating
    Upto Rs. 1,000,000 - 10.25%
    Rs. 1,000,001 - 1,500,000 - 10.25%
    Rs. 1,500,001 - 2,000,000 - 10.25%
    Above Rs. 2,000,000 - 10.25% linked to 6 Month MCLR
    Happy Ending Home Loans
    Upto Rs. 2,800,000 - 9.15%
    Rs. 2,800,001 - 7,500,000 - 9.25%
    Rs. 7,500,001 - 15,000,000 - 9.35%
    Above Rs. 15,000,000 - 9.35% linked to 6 Month MCLR
    Axis Bank Home Loan Balance Transfer
    Upto Rs. 2,800,000 - 9.10%
    Rs. 2,800,001 - 7,500,000 - 9.10%
    Rs. 7,500,001 - 50,000,000 - 9.15%
    Above Rs. 50,000,000 - 9.15% linked to 6 Month MCLR

    Axis Bank Fixed Rate Home Loans

    Axis Bank Home Loan Fixed
    Upto Rs. 2,800,000 - 12.50%
    Rs. 2,800,001 - 7,500,000 - 12.50%
    Rs. 7,500,001 - 50,000,000 - 12.50%
    Above Rs. 50,000,000 - 12.50% linked to 6 Month MCLR
    Asha Home Loans Fixed
    Upto Rs. 1,000,000 - 12.50%
    Rs. 1,000,001 - 1,500,000 - 12.50%
    Rs. 1,500,001 - 2,000,000 - 12.50%
    Above Rs. 2,000,000 - 12.50% linked to 6 Month MCLR

    Axis Bank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to Axis Bank?
    Axis Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Axis Bank
    You can avail additional top-up home loan from Axis Bank, subject to your eligibility

    Housing Loan Axis documents required

    Home Loan for Salaried employee Axis Bank documents required

    • 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

    Home Loan for Self-Employed Axis Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 2 years
    • 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 home loan at lower rate of interest i.e. at 9.10% with the lowest EMI of Rs. 812 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home 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 home 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 home loan with Nil charges.
    Can I transfer my home loan from another bank to Axis Bank?
    Yes, Axis Bank gives you the facility to transfer your existing home loan with a hassle free process. Home 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 home loan in Axis Bank?
    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 interest rate on Axis Bank housing loan is linked to its 6 Month MCLR Rate, which is currently at 9.00%. So, when Axis Bank offers a home loan at 9.10%, it applies a premium of 0.1% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest 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 home 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 Bank Home Loan in India

    Axis Bank Home Loan 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
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Axis Home Loan Interest Rate News - Dec 2016
04th Nov 16 Axis Bank home loan rates reduced to 9.15 percent from 1st November, 2016
Axis Bank has reduced its home loan rates by 0.20 percent and 0.15 percent. The revised home loan rate for salaried customers up to loan amount of Rs. 28 lacs is 9.15 percent and for loan amount more than Rs. 28 lacs is 9.25 percent. The new rates will be effective from 1st November, 2016.
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