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Axis Bank Loan Against Property

Axis Bank Mortgage Loan Interest Rates 2021

Last Updated 14th Jul 2021

Axis Bank is one of the largest Private Bank in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 8.50% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of Axis Bank Loan against property are mentioned below: Check Best Offers

Processing Fee Upto 0.75%
Max Tenure 15 years
Lowest EMI ₹ 985 per lakh
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 24 and Max 60 years for Salaried
Min 24 and Max 65 years for Self Employed

    Nil prepayment charges for individual non business borrowers

    Apply for Loan Against Property @ 7.20%* Get upto ₹ 1,000* Cashback Get Call from Banker

    Axis Bank Loan Against Property

    Axis Bank offers loan against property to meet your business as well as personal needs against the mortgage of your existing residential or commercial property. Taking a loan from Axis Bank has the following benefits:

    • Nil prepayment charges for individual non business borrowers
    • Additional benefit of lease rental discounting
    • Earn eDGE loyalty reward points on disbursal of your loan
    • Overdraft facility available on loan from Axis Bank

    Axis Bank Loan Against Property Fees and Other Charges

    Along with Axis Bank Loan against Property Rates, Axis Bank also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on Axis Bank LAP Loan is 0.75%. This fee is charged by Axis Bank to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Loan Against Property Interest Rates in Axis Bank for Salaried Employees

    The mortgage loan interest rates in Axis Bank for salaried employee are listed in the table:-

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 28 Lakh 8.50%
    ₹ 28 Lakh - ₹ 75 Lakh 8.50%
    ₹ 75 Lakh - ₹ 2 Cr 8.50%
    Above ₹ 2 Cr 8.50%

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 28 Lakh 8.50%
    ₹ 28 Lakh - ₹ 75 Lakh 8.50%
    ₹ 75 Lakh - ₹ 2 Cr 8.50%
    Above ₹ 2 Cr 8.50%

    Axis Bank Property Loan Interest Rate for Business Man or Self Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 28 Lakh 8.50%
    ₹ 28 Lakh - ₹ 75 Lakh 8.50%
    ₹ 75 Lakh - ₹ 2 Cr 8.50%
    Above ₹ 2 Cr 8.50%

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 28 Lakh 10.50%
    ₹ 28 Lakh - ₹ 75 Lakh 10.50%
    ₹ 75 Lakh - ₹ 2 Cr 10.50%
    Above ₹ 2 Cr 10.50%

    Steps to Apply for Axis Bank Loan Against Property

    You can apply for Axis Bank Loan against property through online as well as offline modes. To apply for a loan through offline mode, you need to visit the official Axis Bank bank branch and fill the application form along with the required documents for loan against property. The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.

    To apply online for Axis Bank Loan against Property online, you need to follow these steps:-

    • Visit the official website of Axis Bank and navigate to Loan Against Property.
    • Before applying, now check your eligibility for Axis Bank Loan against Property.
    • Check various details about the loan, such as interest rates and other charges.
    • If you are satisfied and have cross verified all the details, fill the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Apart from that, you can also visit online marketplaces like MyLoanCare to apply for a Axis Bank Loan against property. Here, you can compare offers Axis Bank with other top banks and can use the EMI and Eligibility calculators to plan your expenses and loan repayments. Axis Bank Loan against property application process at MyLoanCare is hassle-free and transparent.

    Compare Axis Bank Loan Against Property Interest Rate with Top Banks

    Axis Bank offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Interest Rate 8.50% - 11.00% 8.80% - 9.30% 8.75% - 9.90%
    Processing Fees Upto 0.75%
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.75%
    Loan Tenure 15 Years 15 Years 15 Years
    Maximum Loan Amount ₹ 7 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 24 and Max 65 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate RLLR RLLR PLR
    Lowest EMI Per Lakh ₹ 985 per lakh ₹ 1,002 per lakh ₹ 999 per lakh
    Axis Bank Floating Rate on Loan Against Property

    As on 26 Jul, 2021, Axis Bank offers the lowest rate starting at 8.50%. Axis Bank Loan against property rates have been dropped by 2%, from the earlier rate of 10.50% with effect from 16 Jul, 2021.

    Axis Bank Mortgage Loan Interest Rates
    Axis Bank Loan Against Property Floating 8.50%
    Axis Bank Reverse Mortgage Loan 10.50%
    Axis Bank Loan Against Property Floating
    Loan AmountCurrent LAP Rates
    Upto ₹ 28 Lakh 8.50%
    ₹ 28 Lakh - ₹ 75 Lakh8.50%
    ₹ 75 Lakh - ₹ 2 Cr8.50%
    Above ₹ 2 Cr 8.50%
    with Overdraft Against Property Facility
    Loan Amount Rate
    Upto ₹ 28 Lakh 0%
    Above ₹ 28 Lakh - ₹ 75 Lakh 0%
    Above ₹ 75 Lakh - ₹ 2 Cr 0%

    Axis Bank Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    16 Jul, 2021 8.50%
    07 Jun, 2021 10.50%
    13 May, 2021 0.00%
    08 Apr, 2021 10.50%
    01 Apr, 2021 10.50%
    31 Mar, 2021 10.50%

    Factors Affecting Axis Bank Loan against Property Interest Rates

    Some of the factors that impact Axis Bank Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in Axis Bank depend upon the loan amount you apply. You can get a minimum loan of ₹ 20 Lakh from Axis Bank.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.
    • Type of loan opted for: Axis Bank offers differential rates for customers different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.
    • Your profession: Axis Bank may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    Axis Bank Loan Against Property Eligibility Criteria

    Axis Bank has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 24 to 60 years
    Minimum Income ₹ 25,000
    Loan Amount ₹ 20 Lakh to ₹ 0 Cr
    Minimum years of business existence 1 years
    Minimum work experience 5 years
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    Axis Bank Mortgage Loan Interest Rate and EMI Calculator

    You can also use an online Axis Bank Loan against property EMI Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure

    • The Axis Bank Mortgage Loan EMI calculator helps you calculate your monthly EMI at different rates of interest and check and compare the lowest EMI per lakh on LAP.
    • You can compare the estimated EMI with your monthly repayment capacity to decide on a level of EMI you can comfortably service without creating financial burden.
    • Loan tenure matters equally as higher loan tenure reduces your EMI.
    • Another factor that affects your EMI is the loan against property interest rate. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan. Loan against property interest rate comparison of different banks will allow you to choose the cheapest loan and hence, improve your eligibility.
    Loan Against Property Top up, Transfer in Axis Bank

    Axis Bank offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of Axis Bank at an affordable interest rate, higher loan amount and convenient loan tenure. Axis Bank loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in Axis Bank are 8.50%. Along with that, you can also avail of additional top-up on your loan against property.

    Loan Against Property Axis Bank Products

    Axis Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Loan Against Residential Property

    • Loan against residential property can be availed for a tenure up to 20 years.
    • You can take a loan against your residential property for fulfilling personal as well as business needs.
    • Salaried individuals working in a reputed government/private company can avail this loan
    • Self-employed individuals who are filing ITR can also apply for this loan.
    • Salaried and self-employed individuals can take a loan against residential property.

    Commercial Property Mortgage Loan

    • You can avail a minimum of Rs 5 Lakhs as a loan against your commercial property for a tenure up to 20 years.
    • A loan against commercial property can be taken for fulfilling personal as well as business needs such as a wedding, travel, investing funds in a new business etc.
    • There is a margin of 40% - 55% in loan amounts in case of loan against commercial property.
    • Salaried professionals who are working permanently in a private/ government company.
    • Self-employed individuals who are filing ITR can also apply for this loan.
    • Salaried and self-employed individuals can take a loan against commercial property.

    Axis Super Saver

    • Attractive interest rates of supersaver loans so that you can save more
    • You can easily foreclose the loan anytime without any charges
    • Flexible repayment tenure of 20 years is available
    • Get ATM card, cheque book, internet and phone banking facility
    • Loan amount from ₹ 500,000 to ₹ 50,00,000 can be availed
    • Super Saver loan gives you an option to deposit additional funds which will reduce the interest on your loan up to funds deposited in the account, with the flexibility to withdraw them anytime.
    • This loan can be easily availed by Salaried, Self employed professional and non professional

      Axis Lease Rental Discounting

      • Get loan tenures of up to 9 years, subject to balance lease term
      • Loan is available only for rented commercial property
      • Flexible repayment tenure of 9 years is available
      • Loan can be availed from ₹ 5,00,000 to ₹ 50,00,000 at the LTV of 60 percent
      • Lease Rental Discounting is a term loan offered against rental receipts obtained from leased contracts from corporate tenants
      • Ideal for individuals, Firms and Companies whose major source of income are rentals with lessee being established companies

        Axis Bank Loan Against Property Documents Required

        For Self-Employed

        • Filled up loan application form
        • 2 Passport Size Photo
        • ITR of last 2 years
        • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
        • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
        • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
        For Salaried employee
        • Filled up loan application form
        • 2 Passport Size Photo
        • ITR of last 2 years
        • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
        • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
        • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
        Property documents
        • Registered Sale Deed/ Conveyance/ Lease Deed
        • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
        • Latest House Tax Return/ Receipt
        • Approved Building Plan from Municipal Corporation

        FAQs

        What is Axis Banks loan against property interest rate?

        Axis Bank offers loan against property at a rate of 8.50% with the lowest EMI of ₹ 985. If you are currently paying a higher interest rate than Axis Bank rate, you can opt for a balance transfer of loan to Axis Bank.

        Did Axis Bank Loan against property rates drop?

        Yes, Axis Bank loan against property rates has decreased by 2% from the previous rate of 10.50% to 8.50%. The lowest mortgage rates of Axis Bank are effective from 16 Jul, 2021.

        How to increase my eligibility on Axis Bank Mortgage loan?

        If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get a loan.

        Can I foreclose my Mortgage loan? What are the charges applicable?

        Yes, you can foreclose your Axis Bank loan against property anytime you want with 2% foreclosure charges.

        What is the maximum loan tenure I can opt under Axis Bank Property loan?

        Axis Bank offers a maximum tenure of 15 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

        What is the benchmark rate applicable for Mortgage loan?

        The benchmark rate applicable for property loans in Axis Bank is RLLR

        Can I transfer my LAP from another bank to Axis Bank?

        Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to Axis Bank offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in Axis Bank are 8.50%.

        What is Axis Bank mortgage loan processing fees?

        The loan processing fee charged is 0.75% of the total loan amount.

        What security do I need to provide for Axis Bank Mortgage Loan?

        Axis Bank requires a registered mortgage of the property against which the bank will provide you a loan.

        • Property on which you intend to take loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
        • Your total EMIs on all loans and credit cards (from Axis Bank and other banks) are no more than 60 - 70% of your net monthly income.
        • You have not defaulted on loans or credit card dues to Axis Bank and other banks and all EMI's have been paid. Note that Axis Bank can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to Axis Bank in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
        • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
        • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

        Are prepayment or foreclosure charges applicable on Axis Bank loan against property?

        You can prepay loan against property (LAP) without any penalty or charges in case:

        • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
        • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

        Axis Bank Loan Against Property Reviews 4.6/5  by 4 customers
        MyLoanCare Service
        4.8/5.0
        Banks Service
        4.5/5.0
        Amit, Gurgaon
        Reviewed on 20th Jun 2021
        5 / 5 stars
        Axis Bank Loan Against Property Availed in Jun 2021

        Ver Good Service by MyLoanCare and Axis Bank both. Both of them kept me posted and informed.Read more...

        Sandeep, Pune
        Reviewed on 13th Apr 2021
        4.5 / 5 stars
        Axis Bank Loan Against Property Availed in Mar 2021

        Fantastic service. Thanks for service.
        Read more...

        krishnakumar GV, Bangalore
        Reviewed on 01st Sep 2018
        5 / 5 stars
        Axis Bank Loan Against Property Availed in Oct 2015

        I am really delighted with the speed at which the entire activity is completed. Both from MyloanCareRead more...

        rohit, Delhi
        Reviewed on 01st Mar 2015
        4 / 5 stars
        Axis Bank Loan Against Property Availed in Jan-17

        During my LAP process, I came to know that taking this loan in firm's name and individual name are 2Read more...

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        Axis Bank Loan Against Property 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%.
        • 2021-02-26 : 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
        • 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.
        • 2020-07-02 : Axis Bank delivers strong loan growth
          Axis Bank reported a 4.53% year-on-year rise in profit, the profit reached at Rs 1,757 crore. Banks loan book grew backed by retail loan- car, two-wheeler, gold and personal loan- book grew 25% by almost Rs 28,500 crore on a quarterly basis and the domestic loan growth stood at 18%.
        *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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