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.
Make your dream of owning a home a reality with Axis Bank Fast Forward Home Loan. With Axis bank Fast Forward Home Loan, you can get benefits of your mutual income to avail the maximum loan amount for our dream home. In Fast Forward Home Loan you get quick disbursal with minimal documentations. It also provides EMI waiver for 12 EMIs for loan life of beyond 10 years along with zero processing charge.
1. Balance transfer facility
2. Transfer existing loan to Axis Bank without any hassle
3. Minimum and less paperwork
4. Quick and easy loan disbursal
5. Avail maximum loan amount
6. No prepayment charges
|
TYPE |
CHARGES |
|
Processing charges |
1% of the loan amount that has been availed up to a maximum of Rs.10,000. |
|
Penal Interest Rate |
2% on a monthly basis |
|
Issuing a duplicate statement |
Rs.250 for every instance |
|
Charges for cheque return |
Rs.500 for every instance |
|
Issuing of credit report |
Rs.50 for every instance |
|
Prepayment charges |
Nil |
|
Issuing a photocopy of the title documents |
Rs.250 for a set of documents |
|
Charges for copy of the documents |
Rs.250 for a set of documents |
|
Instrument or Cheque swap charges |
Rs.500 |
|
Issuance of duplicate NOC |
For every instance of NOC, Rs.500 plus GST is charged |
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.
All salaried, self-employed and professionals are eligible for the Fast Forward Home Loan
The home loan borrowing limit is minimum 3 lakh
Minimum home loan tenure of 20 years at the time of disbursement
The margin of fast forward home loan = upto Rs.30 lakh is 10%, above Rs.30 lakh upto Rs.75 lakh is 20% and above Rs.75 lakh is 25%
No amount must be pending for a duration of 30 days or more for a maximum of three instances
Home Loan should be live for the minimum stipulated period of 120 months from 1st disbursement
No penal interest/other charges to be due from borrower at the time of waiver
Why to choose Axis Bank Fast Forward Home Loan?
In case payments are made on a regular basis, 12 EMIs will be waived off. No extra charges are levied for waiving the EMIs. Individuals are eligible for 6 EMI waivers after the completion of 10 years and another 6 EMIs after the completion of 15 years.
No hidden charges are levied, and the interest rates will be standard.
The home loan can be availed at the comfort of an individual’s office or home.
The loan can be used to purchase an already constructed house, to build a house, for self-construction, for the purchase of a plot and construction of the house, and the improvement of the house.
No charges are levied in case of prepayment or foreclosure of the loan before the maturity period. However, foreclosure is not allowed before the completion of 10 years from the time of the first disbursement.
|
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 fast forward home loans from Axis Bank
1. Offline Method : By visiting the 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
Now go to “Fast Forward 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 Fast Forward 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 :
The minimum loan amount of Axis Bank Fast Forward Home Loan is Rs.30 lakh and the maximum limit is dependent on the joint income of the co-applicants.
The minimum age of the salaried individuals is 21 years to 60 years and for self employed / professionals is 21 years to 65 years age is required to get a fast forward home loan from Axis Bank.
No hidden charges are applied to get a fast forward home loan from Axis bank.
The maximum tenure period provided by Axis bank is 20 years to get a fast forward home loan.
The salaried person, self employed individuals and and self employed professionals are eligible to get a fast forward home loan from Axis Bank.
Last Updated on : 17/Aug/2020Know More About
You're eligible for a Axis Bank Fast Forward Home Loans 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 Fast Forward Home Loans Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 7.75% - 0% |
| Processing Fees | 1% of the loan amount that has been availed upto a maximum of Rs.10000 |
| Loan Tenure | 1 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator