Axis Loan Against Property Interest Rate Calculator - Oct 2016

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Axis Bank Loan Against Property Interest Rates

Axis Bank Loan Against Property Interest Rate 11.5%
Check Special Offers
Lowest EMI Rs. 1,168 per lakh
Max Tenure 15 years
Processing Fee Upto 1.00%
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
Apply Axis Bank Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 

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Axis Bank Loan Against Property

Axis Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 45% of the market’s value for tenure of 18 years.

Loan Against Property Axis

Axis Bank Loan Against Property interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Loan Against Property interest rates offered by Axis Bank depends upon MCLR
  • Floating rates changes with a single change in Axis Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Axis Bank offers Property Loan based on 6 Month MCLR which is currently 9.15%
Axis Bank mortgage loan interest rate depends upon
  • Axis Bank Loan Against Property amount: Axis Bank mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Axis Bank has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Axis Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Axis Bank Loan Against Property Charges

Axis Bank Loan Against Property foreclosure charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Axis Bank allows prepayment of loan against property with 2% prepayment charges
Processing Fee - Axis Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

Axis Loan Against Property EMI Calculator

Loan Against Property EMI of Axis Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Axis Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Axis Loan Against Property EMI?
  • Axis Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Axis Bank EMI calculator for Loan Against Property helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Axis Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Axis Bank
Eligibility of Loan Against Property in Axis Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Axis Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Axis Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Axis Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Axis Bank gives maximum LTV of 45% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Axis Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Axis Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Axis Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of 2.35% over 6 Month MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
    Business person should be in business from the past 1 years and minimum ITR of last 2years is required as proof to Axis Bank
Estimated eligibility online by using Axis Bank Loan Against Property Eligibility Calculator.
Popular Axis Bank Loan Against Property Products:
  • Loan Against Residential Property
  • Commercial Property Mortgage Loan

Axis Bank Floating Rate Home Loans

Axis Bank Loan Against Property Floating
Upto Rs. 2,800,000 - 11.5%
Rs. 2,800,001 - 7,500,000 - 11.5%
Rs. 7,500,001 - 20,000,000 - 11.5%
Above Rs. 20,000,000 - 11.5% linked to 6 Month MCLR

Axis Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to Axis Bank?
Axis Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Axis Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property Axis documents required

Loan Against Property for Salaried employee Axis Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 2 years
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Loan Against Property for Self-Employed Axis Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 2 years
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 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

Property documents for Loan Against Property from Axis Bank

  • 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
Past trends of MCLR of Axis Bank
04th Oct 16: 0.25% repo cut by RBI
27th Jul 16 9.35% decreased by 0.1%
13th Apr 16 9.45% decreased by 0.05%
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.50% decreased by 0.35%
29th Sep 15: 0.5% repo cut by RBI
27th Jun 15 9.85% decreased by 0.1%
02nd Jun 15: 0.25% repo cut by RBI
08th Apr 15 9.95% decreased by 0.2%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
17th Oct 14 10.15% decreased by 0.1%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
23rd Aug 13 10.25% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
06th Aug 11 10.00% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
05th Jul 11 9.75% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
05th May 11 9.50% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
01st Apr 11 9.00% increased by 0.25%
17th Mar 11: 0.25% repo hike by RBI
19th Feb 11 8.75% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
16th Jan 11 8.25% increased by 0.25%
09th Dec 10 8.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.50%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 7.50%

Axis MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions – Axis Loan Against Property

What are the five things to check before applying for loan against property in Axis ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s 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 record 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 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 applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Axis loan against property interest rate remain fixed or will it change in future?

  • Floating interest rate on Axis Bank property loan is linked to its MCLR, which is currently 9.15%. So, when Axis Bank offers a loan against property at 11.5%, it applies a 2.35% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Axis Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Axis 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

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or in case you need any assistance or clarification on this subject.

Axis Bank Loan Against Property Customer Care Number, Email, Application Status

Contact Details of Axis Bank Loan Against Property Branches
City Customer Care Number
Agra 0522-2230857
Ahmedabad 079-26563232
Ambala 0172-2620489
Anand 079-26563232
Aurangabad 022-25260501
Bangalore 080-25317830
Bhilai 1800-209-5577
Bhilwara 1800-209-5577
Bhiwadi 022-25260501
Bhopal 0755-2579009
Bhubaneswar Cuttack 0674-2572955
Bikaner 1800-209-5577
Chandigarh 0172-2620489
Chennai 044-28123888
Cochin 1800-209-5577
Coimbatore 044-28123888
Dehradun 1800-209-5577
Delhi 011-23736555
Durg 1800-209-5577
Faridabad 0124-2309447
Gandhinagar 079-26563232
Ghaziabad 0522-2230857
Goa 022-25260501
Greater Noida 011-23736555
Gurgaon 0124-2309447
Guwahati 0361-2341818
Gwalior 0755-2579009
Hyderabad 040-23418888
Indore 0755-2579009
Jabalpur 0755-2579009
Jaipur 0141-2228866
Jalandhar 0172-2620489
Jodhpur 1800-209-5577
Kanpur 0522-2230857
Karnal 0124-2309447
Kolhapur 022-25260501
Kolkata 033-22839971
Kota 1800-209-5577
Kozhikode 0471-2558588
Lucknow 0522-2230857
Ludhiana 0172-2620489
Madurai 044-28123888
Meerut 0522-2230857
Mehsana 079-26563232
Mohali Sas Nagar 0172-2620489
Mumbai 022-25260501
Mussoorie 1800-209-5577
Nagpur 022-25260501
Nashik 1800-209-5577
Noida 011-23736555
Noida Extn. 011-23736555
Panipat 0124-2309447
Patna 0612-2205810
Pondicherry 1800-209-5577
Pune 022-25260501
Raipur 1800-209-5577
Rajkot 079-26563232
Ranchi 1800-209-5577
Rohtak 0124-2309447
Roorkee 1800-209-5577
Salem 044-28123888
Shimla 0177-2627711
Sonepat 0124-2309447
Surat 079-26563232
Trichy 044-28123888
Udaipur 1800-209-5577
Vadodara 079-26563232
Varanasi 0522-2230857
Vijaywada 1800-209-5577
Vizag 1800-209-5577
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Loan Against Property @ 10.60%* Cashback Upto Rs. 5,000

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Axis Loan Against Property News - Oct 2016
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank cuts it benchmark MCLR by 5 bps with effect from Tuesday. The bank has reduced down its rates across tenures, effectively reducing the overnight rates to 8.80 per cent while their three year lending rate is 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra, and Indian bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.
15th Oct 16 Axis, Kotak Mahindra Banks tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology, now other private sector banks gear up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances, while HDFC is still assessing the opportunity.
12th Sep 16 Freecharge, Axis Bank tie-up to launch UPI payments for consumers, merchants
Freecharge has tied up with Axis Bank to start Unified Payments Interface (UPI) enabled payment on its Android app. This app will enable consumers to make instant seamless transactions from their smartphone using a virtual payment address (VPA). Consumers can create a virtual address on the Freecharge Android app and link it to their bank account to register on the UPI app. This feature will allow consumers to pay on Freecharge in a secure way for transactions and bill payments.
27th Aug 16 Axis Bank launches NFC payments on GoQii devices, opens innovation lab for startups
Axis Bank launches NFC payments on GOQii fitness wearable devices and also opened an innovation lab called Thought Factory that would focus on developing innovative tech solutions which can improve customer experience in banking. This is the first time that health and fintech are working together in the Indian startup network. The bank has identified 120 startups for this scheme for a three month mentorship program. The lab will also host accelerator programs for startups who will work closely with intrapreneurs from Axis.
27th Aug 16 Axis Bank partners Amazon, Visa to help Indian fintech startups
Axis Bank has entered into a strategic partnership with Amazon Internet Services to setup a co-working center at its Thought Factory in Bengaluru. With this collaboration, Amazon will be hosting sessions with AWS technical experts for startups along with offering AWS credits, conducting thought leadership talks, bootcamps and startup pitches among others. Apart from Amazon, Axis Bank is also associating with Visa to co-create digital trade solutions for startups under its Innovative Lab Facility Thought Factory. Axis Bank is also collaborating with OverseasChinese Banking Corporation fintech unit The Open Vault at OCBC for information sharing and offering mentoring to startups