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Axis Bank Home Loan Interest Rates 2021

Axis Bank Housing Loan Interest Rate -Today

Last Updated 14th Jul 2021

Current Axis Bank Home Loan interest rates Jul 2021 starts at 6.70% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Maximum ₹ 10,000.

Loan AmountAxis Bank Repo Rate Home Loan RateSuper Saver Home Loan
Upto ₹ 20 Lakh6.70%6.95%
₹ 20 Lakh - ₹ 75 Lakh6.70%6.95%
₹ 75 Lakh - ₹ 1 Cr6.70%6.95%
Above ₹ 1 Cr6.70%6.95%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback Get Call from Banker

Current Axis Bank Home Loan Rate

Today Axis Bank home loan interest rates are in the range of 6.70% to 6.70%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.70%.

Below-mentioned are Axis Bank home loan rates for multiple housing schemes.

Axis Bank Home Loan Scheme Interest Rates
Axis Top Up Loan6.66% - 6.81%
Axis Bank Home Loan Balance Transfer6.66%
Axis Bank Plot Loan6.70% - 6.85%
Axis QuickPay Home Loan6.70% - 6.85%
Axis Bank Repo Rate Home Loan 6.70%
Fast Forward Home Loan7.75% - 8.10%
Shubharambh Home Loan7.75% - 8.10%
Empower Home Loan9.40%
Asha Home Loans Floating10.05%

Axis Bank Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Axis Bank for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 20 Lakh 6.70%
₹ 20 Lakh - ₹ 75 Lakh 6.70%
₹ 75 Lakh - 1 Cr 6.70%
Above ₹ 1 Cr 6.70%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 20 Lakh 6.70%
₹ 20 Lakh - ₹ 75 Lakh 6.70%
₹ 75 Lakh - 2 Cr 6.70%
Above ₹ 2 Cr 6.70%

Axis Bank Home Loan Processing Fee and Other Charges

Axis Bank charges the maximum processing fees at ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees maximum fee of ₹ 10,000
Foreclosure Charges Nil for floating rate home loans

Axis Bank Home Loan Balance Transfer Interest Rates

Axis Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Axis Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Axis Bank offers the lowest home loan balance transfer rate of 6.70%.

Illustration on Home Loan Interest Rate Axis Bank
Maximum Annual Percentage Rate (APR) 6.7% to 6.7%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • Axis Bank Home Loan Interest Rate: 6.70% to 6.70%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 645 for 30 Years ₹ 1,00,000 loan at 6.70% (lowest rate, longest time period) to ₹ 1,966 for 5 Years ₹ 1,00,000 loan at 6.70% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.7% to 6.7%
  • Total cost payable over loan tenure: ₹ 1,17,960 for 5 Years loan to ₹ 2,32,301 for 30 Years loan

FAQs

What is Axis Bank Home Loan Interest Rate?

Axis Bank Home Loan interest rate ranges between 6.70% to 6.70%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Axis Bank reduced home loan rates?

As per the current rates, Axis Bank has hiked its home loan rates by 0.04% from 6.66% to 6.70%. The new rates are effective from 01 Jul, 2021.

Why should I opt for balance transfer to Axis Bank?

Axis Bank offers lowest Home Loan EMI of ₹ 645 per lakh availed at the lowest interest rate 6.70% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 645 per lakh, you should consider the option for a loan transfer to Axis Bank from your existing bank.

  • 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 ₹ 10, 000

How much margin would I have to pay on Home Loan?

S. NO. Loan Amount Margin
1Up to ₹ 20 Lacs15%
2Above ₹ 20 Lacs to upto ₹ 75 Lacs20%
3Above ₹ 75 Lacs25%

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:

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.

What is the current Axis Bank Home Loan rate?

The current Axis Bank Home Loan rate starts from 6.70% with a processing fee of and Maximum ₹ 10,000.Axis Bank housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Axis Bank offers different home loan rates for different home loan products.

Can Axis Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Axis Bank to lower the home loan rates.

What are the interest rates of home improvement loans in Axis Bank?

You can avail of Axis Bank home loans for home improvement at regular home loan rates starting at 6.65%.

Can Axis Bank revise the home loan interest rates for their existing customers?

Axis Bank home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Axis Bank offer a concessional home loan interest rate for women?

Yes, Axis Bank offers special home loan interest rates for women. As against Axis Bank home loan rates for male which is 6.70%, the home loan interest rate for women starts at %.

What is the Axis Bank home loan rate of ₹ 25 Lakh for 15 years?

Axis Bank home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Axis Bank provides home loan interest rate starting at 6.65%.

At what interest rate does an Axis Bank employee get a home loan?

Axis Bank offers concessional home loan rates of about 1% than the current home loan rates to Axis Bank employees.

Is Axis Bank home loan a floating rate loan or fixed-rate loan?

Axis Bank home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


Axis Bank Home Loan Reviews 4.4/5  by 117 customers
MyLoanCare Service
4.5/5.0
Banks Service
4.4/5.0
Yash, Mumbai
Reviewed on 01st Jul 2021
4 / 5 stars
Axis Bank Home Loan Availed in Jun 2021

Service was good, thanks for approving the loan with Axis Bank.Read more...

Nimesh, Thane
Reviewed on 31st May 2021
5 / 5 stars
Axis Bank Home Loan Availed in May 2021

Excellent service from MYLoanCare. Very good communication and feedback mechanism. It was helpful anRead more...

Senthil, Bangalore
Reviewed on 18th Apr 2021
5 / 5 stars
Axis Bank Home Loan Availed in Mar 2021

Good follow up. They make you connect with bank people who respond well.Read more...

Phani, Hyderabad
Reviewed on 16th Feb 2021
5 / 5 stars
Axis Bank Home Loan Availed in Dec 2020

MyLoanCare and Axis bank were very supportive and helpful through out my Home loan process.Read more...

Manjunath, Bangalore
Reviewed on 02nd Feb 2021
5 / 5 stars
Axis Bank Home Loan Availed in Nov 2020

Nice experience. We were well informed about the process and received loan amount in time. Happy witRead more...

Vanshul, Gurgaon
Reviewed on 27th Dec 2020
5 / 5 stars
Axis Bank Home Loan Availed in Dec 2020

Excellent service by MyLoanCare. Got reduced ROI on my loan with their intervention and Rishi was quRead more...

Parvez, Gurgaon
Reviewed on 10th Nov 2020
4.5 / 5 stars
Axis Bank Home Loan Availed in Nov 2020

Details to be provided by bank staff in a better manner to customersRead more...

Tanu, Mumbai
Reviewed on 22nd Sep 2020
4 / 5 stars
Axis Bank Home Loan Availed in Jan 2020

Good and quick service. I was able to get updates very soon.Read more...

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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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