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Axis Bank Home Loan

Axis Bank Housing Loan 2021

Last Updated 14th Jul 2021

Axis Bank is the third-largest private sector bank in the country that offers various banking services and financial products, including home loans. Axis Bank provides affordable home loans to both salaried and self-employed to fulfil their housing dream. The bank offers home loans at both fixed and floating rate of interest. Currently, Axis Bank provides home loans at an interest rate starting from 6.66%. The processing fee charged by Axis Bank on its home loan products begins from Upto 0.50%. To ease the home loan process and offer best choice, the bank provides various home loan products such as Axis Bank Home Loan Top Up, Asha Home Loan, Super Saver, Axis Bank ShubhAarambh Home Loan and Empower Home Loan.

  • Axis Bank Home Loan Top-up - Axis Bank home loan top-up allows the existing home loan borrowers to borrow additional loan on their running home loan of up to ₹ 50 lakhs to fulfil their personal or business expenses.
  • Asha Home Loan - Axis Bank has designed Asha loan for first time home buyers in which borrowers can take a loan of ₹ 35 lakhs and avail benefits like 12 EMIs waived off, affordable low interest rates and LTV of up to 90% of the property value.
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Axis Bank Home Loan Details

Axis Bank offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan Axis Bank

Age Min 24 and Max 60 years for Salaried
Min 24 and Max 65 years for Self Employed
Repayment Tenure 30 years
Interest Rate 6.66%
Interest Rate Linked To RLLR
Processing Fee Upto 0.50%
Lowest EMI Per Lakh ₹ 643
  • Purpose of Loan: Axis Bank house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of Axis Bank Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 24 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 0%.
    • Loan Tenure can range from 5 to 30 years.
    • Interest rates in the range of 6.66% to 10.05%.
    • Axis Bank home loan EMI per lakh starts from ₹ 643. However, you can calculate your home loan EMI using Axis Bank home loan calculator 2021.
  • Special schemes: Axis Bank offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc. Some of the special loan offers of Axis Bank are:

Features & Benefits of Axis Bank Home Loans

Axis Bank offers home loans at affordable rates and transparent terms. One can apply for a home loan in Axis Bank, for various purposes such as the purchase of a house or a flat, for home construction loan, home renovation loan or home extension. Some of the benefits and features that Axis Bank home loans offer to the home loan borrowers are listed as follows:

  • Axis Bank offers its customers the flexibility to opt for either fixed or floating rate of interests as per their convienence.
  • Customers can borrow small home laons by borrowing a minimum loan amount of ₹ 3 lakhs.
  • The bank provides door step service to its home loan borrowers.
  • The home loan is affordable, as there are no prepayment charges charged by the bank.
  • Axis Bank provides home loan for the construction of a property, purchase of already constructed residence, and home loan top-up to existing home loan customers.

Axis Bank Home Loan Processing Fee

Axis Bank Home loan schemes Processing Fees
Axis Bank Home Loan Top Up Upto 0.50%
Super Saver Maximum ₹ 10,000
Empower Home Loan NIL
Asha Home Loan Upto 1.00%, Maximum ₹ 10,000

How to Get Easy Home Loan from Axis Bank?

Getting a home loan from Axis Bank is fairly easy with an online application process. 5 Steps for Axis Bank Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of Axis Bank and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of Axis Bank or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a Axis Bank’s representative will visit your home or office to collect your documents.
  • Step 4: Axis Bank will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from Axis Bank and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

Axis Bank Home Loan Documents Required

To apply for a home loan in Axis Bank, the bank asks you to submit the following Axis Bank Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or Axis Bank account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

Axis Bank Home Loan Schemes

Axis Bank offers various customized home loan offers for different types of home loan borrowers. The home loan offers vary across different loan segments such as home loans for NRI, for salaried, for Government employees, for defence and army personnel, pre-approved home loans for existing customers, home loans for construction and upgradation of home amongst others. Some of the popular Axis Bank home loan products and their specifications are listed as follows:

Empower Home Loan

  • 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.

Asha Home Loan

  • Loan for purchasing a ready made house or constructing your own house. Loan up to 85 percent 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.

Axis Bank Home Loan Top Up

  • Repay your loan upto a maximum period of 30 years
  • Maximum loan amount can be availed upto ₹ 50 Lakhs
  • Competitive Interest rates

Axis Bank Home Loan EMI Calculator

Axis Bank home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. Axis Bank Home loan calculator helps the loan borrower pre-plan their home loan in advance.

Axis Bank Home Loan Eligibility Calculator

Axis Bank Home loan eligibility calculator is an online tool that helps the Axis Bank home loan borrowers get an estimate of their home loan eligibility. The eligibility calculator takes into consideration various factors such as the income of the applicant, age, work experience, employment and credit score. The eligibility calculator helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare Axis Bank Home Loan with Other Banks

FAQs

What are the documents required for home loan Axis Bank?

To apply for Axis Bank Home Loan, you will be required to submit Axis Bank home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from Axis Bank ?

Below-mentioned is the reason why you must avail a home loan from Axis Bank

  • Overdraft facility to save interest
  • Special schemes with 12 EMIs waiver
  • Low processing fee
  • Nil prepayment charges
  • Avail top up at home loan rates

Can I apply for an Axis Bank home loan online?

Yes, you can apply for a Axis Bank home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best Axis Bank home loan scheme?

Choosing the best Axis Bank home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best Axis Bank home loan scheme is based on one’s needs.

Is Axis Bank good for a home loan?

Axis Bank is one of the best home loan lenders in the country. Currently, Axis Bank home loan interest rate 2021 starts at 6.65%.

How many types of Axis Bank home loans are there?

Axis Bank offers various home loan products for the convenience of the home loan borrowers. Various popular home loan products offered by Axis Bank are listed as follows: Axis Bank Home Loan Top Up, Super Saver, Empower Home Loan , Asha Home Loan

How can I check my Axis Bank home loan status?

One can check their Axis Bank home loan status on Axis Bank’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the Axis Bank mobile app

What is the eligibility for a Home Loan of Axis Bank?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is Axis Bank Home Loan procedure?

There are two methods to complete the application for Axis Bank Home Loan Process online:

  • Apply online at Axis Bank official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

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 the benefit of paying less EMI per month.

Does Axis Bank check CIBIL for home loan?

Yes, to avail home loan from Axis Bank, you must fulfill Axis Bank Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

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. Availing loan transfer to Axis Bank can allow you to save interest, 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 Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in Axis Bank is RLLR . RLLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In RLLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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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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