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Axis Bank Home Loan Balance Transfer

Home Loan Transfer to Axis Bank: Details

Last Updated 11th Jan 2022

Interest Rate6.65%
Processing Fee₹ 2,021
Lowest EMI per lakh₹ 642
Loan Tenure30 years
  • Axis Bank offers a home loan balance transfer facility at low interest rates starting at 6.65% for a tenure of upto 30 years.
  • You can transfer your home loan to Axis Bank to reduce EMIs and save more on interest.
  • Avail home loan top up from Axis Bank at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Axis Bank Home Loan Transfer

Axis Bank, the largest Private Bank in India, offers the facility to transfer your home loans from the existing scheduled commercial, private and foreign banks and housing finance companies to Axis Bank at the lowest interest rates. To transfer your housing loan to Axis Bank, you must have regularly paid the EMIs for a minimum tenure of 6-12 months and fulfil other eligibility criteria of Axis Bank.

Axis Bank Home Loan Balance Transfer Charges

Before you decide to transfer your home loan to Axis Bank, compare and calculate all the costs of loan transfer. The table below mentions Axis Bank home loan transfer interest rate and other home loan transfer charges of Axis Bank.

Axis Bank Home Loan Transfer Rates 6.65%
Processing Fees Minimum ₹ 2,021
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Axis Bank Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Axis Bank offers lower home loan rates starting at 6.65% along with ₹ 2,021 processing on home loans. Thus, you can save on your home loan by transferring your loan to Axis Bank.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Axis Bank, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Axis Bank home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Axis Bank Home Loan Transfer

To transfer your home loan to Axis Bank, you must fulfil the following eligibility criteria:

  • First, you must have an existing home loan with any bank except for Axis Bank.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Axis Bank.
  • You must be an Indian resident within the age criteria of Axis Bank. The minimum & maximum age to avail a Axis Bank home loan takeover is 24 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Axis Bank home loan balance transfer calculator to estimate the best balance transfer offers and costs associated with it.

Process to Transfer Your Existing Home Loan to Axis Bank

The home loan balance transfer process to Axis Bank is smooth and quick. To transfer your existing home loan to Axis Bank, you need to follow the steps as mentioned below:

  • Submit the request to transfer your home loan to your existing bank by addressing a loan transfer letter. To place a request, you would also need to ask about the transfer of title deeds and other securities to Axis Bank upon receipt of the loan amount.
  • On the review of your application, your bank will issue a No Objection Certificate (NOC).
  • Submit the NOC to Axis Bank and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • Axis Bank will then validate the NOC, sanction your loan and pay off your dues to the existing bank.
  • Your existing bank will issue a confirmation letter stating the equitable mortgage over the property.
  • Your existing bank will close your loan account and cancel all cheques or standing instructions related to your loan.
  • Finally, your home loan transfer to Axis Bank will be completed.

Document Required for Axis Bank Home Loan Transfer

To avail of home loan balance transfer from Axis Bank, you need to submit the following documents to Axis Bank.

Documents Required Accepted Valid Documents
Application Form with Photo Application Form of Primary Borrower and Co-borrower(s)
Identity Proof
  • Valid Passport
  • Aadhaar Card
  • Driving License
  • Photo Identity card issued by Govt. body
  • Letter from a recognized public authority
Residential Proof
  • Valid Passport
  • Voter Card
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Life Insurance Policy
  • Residence address Certificate by an employer on company letterhead
Age Proof
  • Primary Borrower
  • Co-borrower(s)
Income Proof
  • Last 3 years’ Form 16
  • Last 6 months salary slip
  • Last 6 months’ bank account statement showing salary credit
Other Documents
  • Loan statement
  • List of property documents (LOD) in possession of the existing lender.
  • Last 12 months' statement of the bank account from which loan EMI is paid

FAQs

Is it good to transfer a home loan to Axis Bank?

Yes, transferring your home loan to Axis Bank is a good idea for home loan borrowers as Axis Bank provides lower home loan rates starting at 6.65%, and minimal processing fee Of ₹ 2,021.

How can I transfer my Axis Bank home loan from one branch to another?

To transfer your Axis Bank home loan from one branch to another, you can request through net banking/mobile banking. Axis Bank also allows the home loan transfer facility through phone banking by calling the home loan customer care.

Are there any charges while applying for Axis Bank home loan balance transfer?

Yes, Axis Bank charges home loan transfer fees. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank. As the amount will be transferred to a new bank, the processing fee will also be levied accordingly.

What are the benefits of taking a Axis Bank home loan balance transfer?

If you apply for a home loan transfer to Axis Bank, you can clear off your existing home loan at lower rates and save more on interest. Besides that, it can also help you avail top-up on your existing home loan.

How can I check the status of my Axis Bank home loan balance transfer?

To know your Axis Bank home loan status, you can call Axis Bank home loan customer care number or visit Axis Bank official website to check the status.


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Axis Bank Home Loan News - Jan 2022
  • 2021-12-15 : Axis Bank Witness Credit Growth in 18-24 Months
    Axis Bank has seen double-digit growth in GDP and Credit in FY 2024. At the same time, the GDP and credit are seen at 9.5% and 7% in FY 2022. Therefore, the bank aims to achieve GDP and Credit Growth at 8.2% and 8%, respectively.
  • 2021-10-27 : Axis Bank Reports A Growth Of 86 percent
    Axis Bank has reported a growth of 86 percent in net profit at Rs 3,133 crore in the second quarter ended Septe­mber 2021, predominantly on robust growth in fee income and sharp fall in provisions. Last year the bank posted a net profit of Rs 1,683 crore in Q2 of FY21.
  • 2021-10-20 : Axis Bank Introduces Festival Offer
    Axis Bank has announced a waiver of 12 EMIs on selected home loan products under the festival offer Dil Se Open Celebrations kyunki Diwali roz roz nahi aati. Also, two-wheeler loans are offered at an on-road price and without processing fees.
  • 2021-10-14 : Axis Bank Slashes Home Loan Balance Transfer Rate
    Indian private sector bank, Axis Bank has revised home loan balance transfer rates. Now, the lender is offering a rate of 6.60%, earlier the rate was 6.90%. Also, processing fees are decreased to Rs 2021+GST.
  • 2021-10-12 : Axis Bank Has Launched Open API For Customers
    Axis Bank unveils open APIs (Application Programming Interface), these APIs will help retail and corporate customers/ partners to use banking services integrated across partner platforms. This banking portal has retail as well as corporate products like loans, accounts, deposits, payments, trade, collections and bills.
*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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