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Axis Bank Home Loan Balance Transfer

Home Loan Transfer to Axis Bank

Last Updated 07th Apr 2021

Interest Rate6.75%
Processing Fee₹ 2,500
Lowest EMI per lakh₹ 649
Loan Tenure30 years
  • Axis Bank offers home loan balance transfer facility at low interest rates starting at 6.75% for a tenure of upto 30 years.
  • Transfer home loan to Axis Bank to reduce EMIs and save more on interest.
  • Avail 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 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.

Home Loan Rates 6.75%
Processing Fees Minimum ₹ 2,500 and Maximum ₹ 10,000
Prepayment Charges Nil for individuals for floating rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Process of Axis Bank Home Loan Transfer

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.

Eligibility for Axis Bank Home Loan Transfer

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

  • You must have an existing home loan with any bank except for Axis Bank.
  • You must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Axis Bank.
  • You must be an Indian resident and fulfil the age criteria of Axis Bank. The minimum & maximum age to avail a Axis Bank home loan is 24 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.

Features Of Axis Bank Home Loan Transfer

Here are key features of Axis Bank Home Loan Transfer:

  • Lower Interest Rates: Axis Bank offers lower home loan rates starting at 6.75% along with ₹ 2,500 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 & fulfil the eligibility criteria of Axis Bank, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With Axis Bank home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount & the negotiation with the Axis Bank.

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
  • Aadhar 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 6.75%.

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 place your request through net banking/mobile banking. Axis Bank also allows the home loan transfer facility through phone banking by calling 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 such as ₹ 2,500 for Axis Bank home loan balance transfer. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank.

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, Axis Bank home loan balance transfer 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.


Axis Bank Home Loan News - Apr 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.
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-01-28 : Axis Bank Q3 net profit down 36%
    Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore
  • 2020-10-30 : Axis Bank reported a net profit of ₹1,623 crores in Q2
    Axis Bank reported a net profit of ₹1,682.67 crores in the Q2 of FY21, as against a loss of ₹112 crores in the same period last year. The net interest income increased 20% y-o-y to ₹7,326 crore and its net interest margin (NIM) stood at 3.58%. Further, retail loans which include home, personal, gold, two-wheeler, gold and car loan grew 12% y-o-y to ₹3.05 trillion, accounting for 53% of the net advances of the bank.
  • 2020-10-23 : Axis Bank announced festive benefits
    Axis Bank announced Dil se Open Celebrations that will offer deals and discounts on more than 1 lakh branded products on purchase through Axis Bank credit and debit cards. Further, the bank is also offering some key benefits to customers who are in need of a loan, offering home loans starting at 6.90% as well as car loans at 7.99% and up to 100% road funding.
*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. Read More
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