AXIS Bank was one of the few private banks to have begun operations in 1994, after the government of India allowed new private banks to be established . They have established 2400 branches and more than 12922 ATMs.
Asha home loan has come in a time when the property rates are decreasing and finding an affordable home might be a possibility. Don’t we always end up questioning ourselves about the never ending cycle of rent? Asha home loans is a scheme that might be the solution to your problem as here, you can obtain a home loan with a salary as low as Rs 8,000 p.m. This scheme aims at the low income group and you can get a home loan even if you get your salary in cash. Axis Bank asha home loan offers loan amounts from Rs.1 lakh upto Rs.35 lakh at an affordable interest rate. The asha home loan can be used to purchase a :
Under construction properties
Home renovation properties
Purchase of plot
Purchase of plot plus construction
Construction an existing plots
1. Loan Repayment tenure :
AXIS Bank asha home loan provides loan repayment tenure of upto 30 years with a higher eligibility.
2. Loan amount :
Minimum loan amount granted by Axis bank as per the Asha home loan scheme is Rs.1 lakh. But you can avail up to 90 percent of the property price for loans up to Rs.35 lakhs.
3. Affordable Interest Rates :
The interest rate provided by AXIS Bank as per thee asha home loan scheme is starting at 10.05 percent per annum onwards.
4. Transfer your balance without stress :
If you have already taken another house loan from another financier, you can easily consolidate it with the Asha home loan if you have a perfect repayment track record.
|
TYPE |
CHARGES |
|
Processing Charges or Admission Fee |
1% of the loan amount, not less than Rs.10,000 |
|
Repayment Instruction/Instrument Return charges |
500 per case |
|
Cheque/Instrument Substitution charges |
500 per case |
|
CERSAI Charges |
500 |
|
Charges for issuing Copy of Statement |
250 per case |
|
Charges for issuing Copy of Amortization Schedule |
250 per case |
|
Charges for issuing Copy of Interest Certificate (Provisional/Actual) |
250 per case |
|
Charges to get copy of title documents |
250 per document set |
|
Charges levied for requests for copies of documents by the client |
250 per document set |
|
EMI Late payment charges |
Rs.500 per cheque bounce / 2% p.m. on the unpaid installments |
|
ELIGIBLE |
Salaried, self employed individuals, self employed professionals |
|
MONTHLY INCOME |
Rs. 8000 p.m. |
|
AGE |
Salaried employees : 21 years to 60 Self employed individuals and professionals : 21 years to 65 years |
|
MARGIN |
10% margin on loans upto Rs. 30 lakh |
1. Fully filled signed application form
2. Passport size photograph
3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id
4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id
5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited
6. For Self employed individuals / professionals = 2 years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
There are two ways to apply for asha home loans from Axis Bank :
1. Offline method : By visiting nearest bank branch
2. Online Method :
First of all first visit to official website of Axis bank
In retail section go to the “loans”
Now click in home loan
After that go to “Asha home loan”
Now click on apply now and fill application form
How to contact with AXIS Bank :
1. By customer care contact number : 18604195555 / 18605005555
2. By customer care email id : [email protected]
The following formula is used to calculate EMI of Axis Bank Asha Home Loan :
EMI = [PXRX(1+R)^N] / [(1+R)^N-1]
Where,
P stands for Loan Amount
R stands for Interest Rate
N stands for tenure in number of months
Financials products offered by Bank :
|
|||||||
Certainly, Axis bank is liberal in its outlook and does not hesitate to extend Home Loans to salaried people who receive their payment in cash.
The minimum loan amount is Rs.1 lakh and maximum loan amount is Rs.35 lakh to get asha home loan from Axis Bank.
The asha home loan is used for various purposes such as under construction properties, home renovation properties, purchase of plot, purchase of plot plus construction, construction on existing properties.
The repayment tenure is provided by an asha home loan from Axis Bank is 1 year to 30 years. With this long repayment tenure customers will be flexible to pay their EMIs.
The maximum age of the salaried applicant is 60 years and for self employed/ professionals the maximum age is 65 years.
The interest rate provided for asha home loan from Axis bank is 10.05 percent per annum.
The processing fee charged by Axis Bank asha home loan is 1 percent of the loan amount, not less than Rs.10000.
Last Updated on : 17/Aug/2020Know More About
You're eligible for a Axis Bank Asha Home Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Axis Bank Asha Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10.05% - 0% |
| Processing Fees | 1% of the loan amount, not less than Rs.10000 |
| Loan Tenure | 1 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator