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Axis Bank Plot Loan

Land Purchase Loan Axis Bank

Last Updated 09th Dec 2021

Interest Rate 8.70%
Maximum Loan Amount Upto 0% of property value
Processing Fee Upto 1.25%
Maximum Tenure 30 years
Lowest EMI Per Lakh ₹ 881 for 30 years
  • Axis Bank plot loan interest rate starts at 8.70%.
  • Axis Bank land loan can be availed by both salaried and self-employed with a good credit score.
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Loan for Land Purchase Axis Bank

Axis Bank, the leading Private Bank bank in the country, offers a unique home loan product. If you want to purchase a plot for investment purposes, construct a dream home, construct one's desired personal space, or conduct agricultural activities on that loan, Axis Bank can provide you a loan for land purchase. Axis Bank plot loans can be availed by you, even if you are salaried or self-employed, provided you have a good credit score. However, to avail of the plot loan Axis Bank, you need to meet the required eligibility factors. You can avail of the loan for a maximum period of 30 years, which may differ based on the loan amount needs and repayment ability. Currently Axis Bank plot loan interest rate ranges between 8.70% to 8.70%.

Axis Bank Plot Loan Interest Rate

Lowest Axis Bank plot loan rate is 8.70%, as applicable based on the RLLR. Any change in repo rate will translate into a similar change in the bank’s land loan rate. Axis Bank’s interest rates on loan for land purchase depend upon the loan amount, your salary and occupation and nature of the property.

Loan AmountRate
Upto ₹ 28 Lakh8.70%
₹ 28 Lakh - ₹ 75 Lakh8.70%
₹ 75 Lakh - ₹ 2 Cr8.70%
Above ₹ 2 Cr8.70%

Axis Bank Land Loan Features

Features of Axis Bank loan for plot purchase are listed as follows:

  • Loan to Value Ratio: The LTV ratio or Loan to Value ratio in case of a Axis Bank plot loan is comparatively lower. Axis Bank offers a plot loan upto 0% of the cost of the property. However, your risk is also an important feature for the LTV ratio in the case of Axis Bank plot loan.
  • Property Type: Site loan in Axis Bank exclusive to some properties. When you plan to opt for a Axis Bank land loan, you need to ensure certain things, for instance, the land must be located within the municipal limits. Further, it should not be located in an area that is under conflicts regarding authorizations or previous ownerships.
  • Loan Tenure: The time period for which you can avail a Axis Bank land loan is comparatively lower than that of a home loan. It may be borrowed for a maximum amount of 30 years which may vary across your repayment ability.

Axis Bank Land Loan Benefits

Some of the benefits of availing Axis Bank Land loan are:

  • Tax Benefits: A plot loan may not provide any tax benefit when availed on its own. However, if you avail Axis Bank plot and construction loan,you may enjoy a tax benefit on the construction loan.
  • Specific to borrower's need: Through Axis Bank land purchase loan, you can design and create your own space as per your needs. Thus, a plot loan caters to the needs of the borrowers in comparison to an already constructed home.Axis Bank plot loan thus helps you fulfil your needs more than an already constructed home.
  • Affordable: Another key benefit of Axis Bank plot loans is that it is very affordable in nature.Axis Bank charges NIL processing fee at plot loans. Further, the prepayment penalty is very low at Nil. It is even NIL in case of floating rate loans for individuals

Axis Bank Loan for Plot purchase Eligibility Criteria

Documents Required for Axis Bank Land loan

In order to avail of a Axis Bank plot loan, you need to meet the documentation requirements. The required document for a plot loan Axis Bank are:

  • Identity and address proofs: Axis Bank requires you to submit identity and address proofs such as Aadhar Card, PAN card, passport, driving license, Voter ID card, ration card, rent agreement.
  • Utility bills: Telephone, electricity bill, water bill, etc are some utility bills required to avail Axis Bank site loans.
  • Bank documents: Axis Bank requires copies of bank statement and passbook
  • Salary documents: Salary slips, ITR returns and qualification certificates in case of self-employed professionals are also required.
  • Others: In addition, Axis Bank may ask for Sale Deed or Sale purchase agreements

The features of Axis Bank are mentioned below:

FAQs

How long will it take for Axis Bank land loan approval?

Axis Bank land loan is approved after meeting the required eligibility conditions and fulfilling the documentation requirements.You can even get instant approvals on plot loans through the online application portal of Axis Bank.

What is the interest rate of a plot loan in Axis Bank ?

The interest rate of Axis Bank plot loan ranges between 8.70% to 8.70 % . The rate may further vary between this range based on your eligibility and Axis Bank plot loan requirements.

What is the processing fee for Axis Bank land loans?

The processing fee for Axis Bank land loan is Upto 1.25% . This however is subjected to change as per Axis Bank’s terms and conditions.

Can I get a loan on land purchase from Axis Bank ?

Yes, you can get a loan for land purchase from Axis Bank through the .

Can self-employed people avail Axis Bank Plot loan?

Axis Bank plot loan can be availed by salaried and self-employed people who have a decent credit track record with a good credit score of above 650. Apart, you must show proof of a good income and occupation stability to avail land purchase loans Axis Bank.

Can Axis Bank Plot loan Interest rate be negotiated?

Yes, you can negotiate Axis Bank Plot loan Interest rates 2021 if you have a good existing relationship with the Bank and fulfil other eligibility criteria such as good CIBIL Score, repayment capacity etc.

At what Interest rate does an Axis Bank employee get a Loan for land purchase?

Axis Bank employee can get a concessional rate on loan for land purchase, which is lower than the regular Axis Bank Plot Loan Interest Rates of 8.70%.

Does Axis Bank provide a specific Axis Bank Agriculture Land Loan?

Yes, you can avail Axis Bank Agriculture Land Loan for a maximum of 85% of the cost of the land as assessed by the Bank.


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*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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