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AXIS BANK HOME LOAN

Axis bank offers home loans to finance the purchase of a new house or flat, construction of a new house, renovation, repair or expansion and the purchase of a site to construct a new house. Axis bank home loan features different home loan schemes that vary based on the loan amount, purpose for home loan, interest charges etc. The Axis home loan interest rate starts from 6.90% and goes up to 12% per annum. The loan is availed at minimal processing fees and for an easy repayment tenure. Axis bank home loan can be of great help to you if you are looking for a home loan at flexible options and fast procedure.

Axis Bank Home Loan Interest Rates & Charges

Loan Amount Up to 10 Crore
Interest Charges  Starts at 6.90%
Processing Fees Up to 1%
Prepayment Charges NIL
Repayment Tenure Up to 30 years
Types of Interest  Fixed Interest Rate and Floating Interest Rate

Features and Benefits of Axis Bank Home Loan

Here are the features and benefits of Axis bank house loan you should definitely check out:

Loan Amount : The Axis bank home loan amount you can avail is determined by factors like your income, property value, the type of home loan you are applying for etc. and it ranges from Rs 5 lakh to Rs 10 crore. 

Repayment Tenure : Axis bank home loan provides you an ease of repayment tenure that ranges up to 30 years. The Axis home loan tenure also depends on the type of home loan scheme you are availing. 

Rate of Interest : Axis bank home loan can be availed at both the types of interest rates, the floating rate of interest and the fixed interest rate that starts at 6.90% per annum and goes up to 11% per annum. Know that the interest rate is determined by factors like loan amount, tenure and not to mention, the type of Axis bank home loan scheme you are availing. 

Prepayment : You can prepay your Axis bank home loan amount. The bank allows borrowers to foreclose the home loan before the tenure and avoid paying interest charges. You will not be charged any penalty for making prepayment of your Axis home loan amount. 

PMAY : Pradhan Mantri Awas Yojana scheme offers affordable home loans to the sections of society that face financial challenges. The benefits under this scheme are offered to the Economically weaker groups, middle income group and lower income group. 

Balance Transfer : Axis bank home loan features the balance transfer facility using which you can transfer your existing home loan to Axis bank. The balance transfer feature enables you to transfer the loan with higher interest charges from another bank to the bank with the home loan at a lower interest rate. 
 
Waiver on EMIs : Axis banks home loan schemes such as Asha Home Loan and Shubh Aarambh Home Loan offer you to get your home loan EMIs waived off, provided that you have a strong repayment record. 

Eligibility Criteria for Axis Bank Home Loan

In order to avail the Axis bank home loan successfully, you must make sure that you meet eligibility standards designed by the bank.

Here is the eligibility criteria for Axis bank home loan that you should know:

  • The minimum age of the applicant should not be less than 21 years at the time of availing the loan.
  • The maximum age of the applicant should be 65 years at the time of loan maturity.
  • The applicant should be salaried, self employed or a professional to be eligible for Axis bank loan.
  • The applicant should have a stable job/business.
  • The applicant should have a good credit score (at least 750).

Documents Required for Axis Bank House Loan

You need to submit documents at the time of home loan application that are required by the bank. Here are the documents required for Axis bank home loan application:

Documents Salaried Applicants Self Employed Applicants
Identity Proof Aadhar Card, Passport, Driving Licence, Voter’s ID Card Aadhar Card, Passport, Driving Licence, Voter’s ID Card
Address Proof PAN Card, Passport, Driving Licence, Voter’s ID Card PAN Card, Passport, Driving Licence, Voter’s ID Card
Income Proof Salary Slips, Bank Statements, Form 16, Salary Certificate Bank Statements, Proof of Business, Income Tax Returns, Balance Sheet and P&L Account
Others Important Documents  Passport-Size photographs, Agreement for Sale, Sales deed, Approved Plan for the Construction / Addition / Extension, Registration documents Passport-Size photographs, Agreement for Sale, Sales deed, Approved Plan for the Construction / Addition / Extension, Registration documents

Axis Bank Home Loan Schemes

AXIS Bank Asha Home Loan Starts at 10.05% onwards
AXIS Bank Shubh Aarambh Home Loan Starts at 7.75% onwards
AXIS Bank Fast Forward Home Loan Starts at 7.75% onwards
AXIS Bank Empower Home Loan Start at 9.55% onwards
AXIS Bank Super Saver Home Loan 8.15% to 8.30%
AXIS Bank TopUp Loan 8.90% to 9.15%

Axis Bank Home Loan EMI Calculator

Axis bank EMI calculator is a tool that you can make use of for calculating the Equated Monthly Installments (EMIs). This tool lets you know the amount you are supposed to pay for the repayment of your home loan. This calculator uses details including the loan amount, tenure and the interest rate to calculate the amount. 

Axis bank home loan EMI calculator is the fastest way to check the amount you will have to keep aside every month to repay the home loan amount and you will be able to manage/adjust your budget accordingly. 

You can use this tool online by following the simple steps mentioned below:

  • Go to the official website of Axis bank.
  • Click on the “Explore Products” dropdown menu.
  • After that, click on the “Home Loan” option in the “Loans” menu.
  • You will now see the “Home Loan EMI Calculator” on the home loan page.
  • You need to enter the home loan amount, repayment tenure (in months) and rate of interest in the fields given there.
  • You should be able to see the total amount of  Equated Monthly Installment right below the calculator now. 

The following formula is used to calculate EMI of Axis Bank 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 

Compare other bank home loan interest rates

BANKS  INTEREST RATE
AXIS Bank Home Loan 7.75% to 9.40%
SBI Regular Home Loan

6.95% onwards 

HDFC Bank Home Loan 6.95% to 7.50%
Kotak Mahindra Bank Home Loan 7.40% to 9.70%
Yes Bank Home Loan 9.60% to 10.55%
Citi Bank Home Loan 7.34% to 8.29%
ICICI Bank Home Loan 6.95% to 8.05%
Standard Chartered Bank Home Loan Starting at 8.71%
IDBI Bank Home Loan 7.80% to 8.80%
RBL Bank Home Loan 9.75% to 10.05%
HSBC Bank Home Loan

8.55% to 8.655

HSBC Bank Smart Home Loan 11.005 to 11.505
IndusInd Bank Home Loan 8.00% to 15.00%
Bank of Baroda Home Loan 6.85% to 7.75%
Bank of India Home Loan 6.85% to 7.755
Canara Bank Home Loan 6.90% to 8.90%
Indian Bank Home Loan 7.55% to 8.40%
Punjab National Bank Home Loan Starting at 7.00%

How to Apply for Axis Bank Home Loan?

There are two ways to apply for the Axis bank home loan. You can either apply for the loan offline or do it online. 

Here is how to apply for Axis bank home loan:

1. Apply for Axis bank home loan offline

If you wish to apply for Axis bank home loan offline then all you need to do is go to the nearest branch of Axis bank. You will be able to have assistance from the bank official there which will help you get started with the home loan application procedure quickly. When you visit the bank to apply for the home loan, make sure you carry the required documents that you need to submit with the application. 
 
2. Apply for Axis bank home loan online

If you want to apply for the Axis bank home loan application online, then here are the steps you need to follow:

  • First of all, you have to navigate to the official web portal of Axis bank.
  • Now, spot and click on the “Explore Products” dropdown menu.
  • Click on the “Home Loan” in the “Loans” menu.
  • Now that you are on the home loan page, you can view different home loans and click on the one you wish to avail.
  • Hit the “Apply Now” button.
  • In the application form that appears next, you need to enter your details including your name, mobile number, income and the type of loan. 
  • Once you have entered the necessary details, hit the “Submit” button. 

Axis Bank Home Loan Customer Care

In case of any query grievance, complaints or feedback, you can reach out to the Axis bank customer support using the following numbers:

Contact number : 1 - 860 - 419 - 5555 / 1 - 860 - 500- 5555

Email id : loans@axisbank.com

Other products of AXIS Bank

1. AXIS Bank Education Loan

2. AXIS Bank Holiday Loan

4. AXIS Bank Personal Loan

FAQs On Axis Bank Home Loan

Q.1 Can I get my EMIs waived off on Axis bank home loan?

Yes, you can. Axis bank waives 12 EMIs off under home loan schemes such as Asha and Shubh Aarambh. Know that you should have a good repayment history in order to get your EMIs waived off by the bank. 

Q.2 How much interest subsidy will I get under the PMAY scheme?

You can get the interest subsidy ranging from 3% to 6.5% under the Pradhan Mantri Awas Yojana scheme. The interest subsidy varies among different eligible groups that fall under the PMAY home loan scheme.

Q.3 How can I transfer my existing home loan to Axis bank?

Axis bank offers the balance transfer facility to the customers to help transfer the existing home loan from another bank to Axis bank and save up on interest charges. In order to transfer your existing home loan, you can get in touch with the bank. 

Q.4 What is the minimum loan amount to take a home loan from Axis Bank?

The minimum loan amount is Rs.3 lakh to take a home loan from Axis Bank.

Q.5 How much repayment tenure is provided by Axis Bank for home loan?

The repayment tenure provided by Axis Bank for home loans is upto 30 years.

Q.6 How much interest rate is provided by Axis Bank for home loan?

The interest rate provided by Axis bank for home loan starts at 7.75% to 8.55% per annum.

Q.7 How much processing fee charged by Axis Bank for home loan?

The processing fee charged by Axis Bank home loan is upto 1% or minimum Rs.10000 of which Rs.2500 plus GST.

Last Updated on : 20/Mar/2021

Know More About

Axis Bank Home Loan

You're eligible for a Axis Bank 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

Axis Bank Home Loan Interest Rates

Updated on 25 Nov 2017

Axis Bank Home Loan Details
Interest Rate (Monthly reducing balance) 7.55% - 8.55%
Processing Fees 1% of loan amount Subject to minimum of Rs. 10,000
Loan Tenure 1 year to 30 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959