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Happy Ending Home Loan Axis Bank

Axis Bank Happy Ending Home Loan

Last Updated 17th Oct 2021

  • If you avail the Happy ending home loan the last 12 EMIs of your loan are waived off automatically, if all previous EMIs are paid on time.
  • This scheme is only available if your loan tenure is more than 20 years or 15 years with Axis Bank.
  • Interest rate on this scheme is the same as regular floating interest rate 8.90%.
  • The loan is available for both salaried as well as self-employed if you fulfill the eligibility criteria.
  • There are no prepayment charges on prepayment of Axis home loan.
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

What is a Happy Ending Home Loan by Axis Bank?

Axis Bank, launched a home loan scheme called happy ending home loan in 2012. This unique home loan scheme waives off the last 12 EMIs if you pay all the EMIs on time. The scheme is available only for the people who take a loan for more than 20 years and if you cross 15 years with Axis Bank. Also, there are no prepayment penalty charges, and the interest rate remains the same as a regular home loan which is 8.90% under the floating rate option.

Happy Ending Home Loan Features and Benefits

Axis bank happy ending home loan comes with the following features and benefits:-

  • Last 12 EMIs waived off: Your last 12 EMIs will be waived off automatically, and you can save a lot. For example- you have taken a home loan for ₹ 50 lakh at an 11% floating rate, the EMI per lakh is ₹1,032. If you take a Happy Ending home loan, the EMI waiver would be worth up to ₹6.19 lakh.
  • No extra charges: You will not have to pay any extra charges apart from interest rate and processing fees.
  • Lower interest rates: The interest rate on Happy Ending Home loans is standard rates applicable to regular home loans.
  • Balance transfer facility: Without any hassles, transfer your home to a happy ending home loan Axis Bank and enjoy EMIs waiver.
  • Doorstep service: You can avail this scheme by sitting at home as banker will come to your doorstep.
  • Nil prepayment charges: You are not required to pay prepayment charges if you decide to pay off the home loan early. However, part payment tenure should not be below 15 years.

Axis Bank Happy Ending Home Loan Eligibility Criteria

The eligibility criteria for Axis Bank happy ending home loan is as follows:-

  • You must be an Indian Citizen.
  • Your age must be between 18 years to 70 years.
  • You must earn more than ₹ 0 per month.
  • If you are self-employed, your income must be above ₹ 0 per month.
  • You should have work experience of more than three years.
  • Your home loan tenure must be at least 15 years.
  • All the EMIs should be paid on time; you can make EMI delays only three times with EMIs pending due for 30 days and never more than 90 days.

Happy Ending Home Loan Interest Rate

Happy Ending home loan interest rate and other charges are as follows:-

Scheme NameInterest RatesProcessing Fee
Happy Ending Home8.90%Upto 0.20%, Minimum ₹ 10,000 and Maximum ₹ 25,000

Happy Ending Home Loan Documentation

Submit the following documents to avail of happy ending home loan from Axis:-

  • Home loan application form with two passport size photograph
  • Identity proof: Aadhar card, PAN card, Driving License, Passport
  • Address proof: Voter ID, Aadhar card, MNREGA Job Card, Utility Bills
  • Proof of income: Form 16/16A, last three months salary slip, last six months bank statement (Salaried) and self-employed will have to submit last two ITRs

Apply For A Home Loan

You can apply for an Axis Bank home loan with us by performing the below-given steps:-

  • Step 1: Fill the home loan application form
  • Step 2: Fill in required information like name, income, loan amount required, phone number, residence
  • Step 3: Click on ’Get Quote’
  • Step 4: Enter the OTP which you have received on the entered mobile number
  • Step 5: Click on ‘Submit’
  • Step 6: Now, fill in more information about existing loans, any credit cards etc.
  • Step 7: Now click on ‘Apply Now’ on Axis Bank if it is shown (offers are shown as per eligibility)
  • Step 8: To help with the further process, the MyLoanCare executive will call you then you can ask them for the Happy Ending scheme


Is the Happy Ending scheme available on fixed-interest loans?

No, the Happy Ending scheme is not available on fixed interest loans. It is only available at a floating interest rate of 8.90%. However, this scheme can only be availed if you have paid past EMIs on time.

Can I club any builder-benefit schemes or other Axis Bank schemes with the Happy Ending plan?

Axis Bank does not allow club builder-benefit schemes or other Axis Bank schemes with the Happy Ending Plan. If you want to avail of this scheme, then you need to apply separately.

Are there any tax benefits in a happy ending home loan?

You can avail of tax benefits in this scheme because it is just another home loan with added benefits. You can get tax deductions for up to ₹ 2 lakh under the Income Tax Act 1961.

What is maximum tenure for a happy ending home loan?

The maximum tenure for a happy ending home loan scheme is and the minimum is 20 years. This facility is not available if your tenure is less than 20 years.

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