AXIS Bank Shubh Aarambh Home Loans Interest Rate, Status, Eligibility

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AXIS BANK SHUBH AARAMBH HOME LOAN

About AXIS Bank :

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.

AXIS Bank Shubh Aarambh Home Loans :

   “Offers to waive off 4 EMIs in every 4 years”

Axis bank recently launched Shubh Aarambh, a home loan product that offers to waive off 4 EMIs in every 4 years if you are consistently repaying the loan. Shubh Aarambh has been launched specifically to reach out to borrowers in the affordable housing sector. The maximum loan you can get under this product is Rs.30 lakh for higher loan value. Axis bank has a product called “Happy ending” with similar features. The loan can be used to purchase an under construction /ready/ resale house, self construction and a plot plus construction.

Benefits of Axis Bank Shubh Aarambh Home Loans :

  • Subsidized interest rates are offered for individuals who come under the Pradhan Mantri Awas Yojana Scheme.

  • A Shubh Arambh home loan product that offers to waive off 4 EMIs in every 4 years if you are consistently repaying the loan.

  • The home loan that is being availed can be used to purchase a house that is under construction, ready, or a house that is being resold. Loans can be availed for the self-construction of a house and for the purpose of buying the plot and constructing the house. The loan can be availed for the improvement of a house as well.

  • The interest rates are standard

  • There are no hidden charges apply

  • The home loan is provided from the comfort of your office or home.

  • Quick processing to get a loan

  • Minimal documentation

 Fee and Charges of Axis Bank Shubh Aarambh Home Loan :

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

Charges for Cheque return

Rs.500 for every instance

Issuing a duplicate statement

Rs.250 for every instance

Issuing of credit report

Rs.50 for every instance

Issuing a photocopy of the title documents

Rs.250 for a set of documents

Prepayment charges

Nil

Charges in case customer requests for a copy of the documents

Rs.250 for a set of documents

Eligibility Required for Axis Bank Shubh Aarambh Home Loan :

  • Minimum home loan tenure of 30 years at the time of disbursement

  • Maximum home loan Upto Rs. 30 Lakhs

  • All track record should be clean during the life of home loan

  • No amount must be pending for a duration of 30 days or more for a maximum of three instances

  • The Home Loan should be live for the minimum stipulated period of 48 months from the date of disbursement to avail waiver benefit

  • Both self-employed  and salaried  customers are eligible for the Shubh Aarambh Home Loan

  • No penal interest/other charges to be due from the borrower. The waiver to be passed on only when all additional dues are cleared.

Documents Required for Axis Bank Shubh Aarambh Home Loan :

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.

Compare other bank home loan interest rates :

BANKS 

INTEREST RATE

AXIS Bank Asha Home Loan

Starts at 10.05% onwards 

AXIS Bank Shubh Aarambh Home Loans

Starts at 7.75% onwards

AXIS Bank Fast Forward Home Loans

Starts at 7.75% onwards

AXIS Bank Home Loan

7.75% to 9.40%

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%

SBI NRI Home Loan

6.95% onwards

SBI Flexipay Home Loan

7.40% onwards 

SBI Privilege Home Loan

6.95% onwards 

SBI Regular Home Loan

6.95% onwards 

SBI Shaurya Home Loan

6.95% onwards 

SBI Pre-approved loan

6.95% onwards 

SBI Realty Home Loan

7.65% onwards

SBI Home Top Up Loan

7.90% onwards

SBI Bridge Home Loan

9.50% to 10.50%

SBI Tribal plus Home Loan

6.75% onwards

SBI Earnest Money Deposit

10.45% onwards

SBI Reverse Mortgage Loan

8.05% onwards

SBI CRE Home Loans

7.45% 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%

Other products of AXIS Bank :

1. AXIS Bank Education Loan

2. AXIS Bank Holiday Loan

3. AXIS Bank Home Loan

4. AXIS Bank Personal Loan 

How to apply for Axis Bank Shubh Aarambh Home Loans :

There are two ways to apply for Shubh Aarambh 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 “Shubh Aarambh 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 : loans@axisbank.com

How to calculator EMI of Axis Bank Shubh Aarambh Home Loan :

The following formula is used to calculate EMI of Axis Bank Shubh Aarambh 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 :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

Axis Bank Shubh Aarambh Home Loan Frequently Asked Questions :

1. How to apply for Axis Bank Shubh Aarambh Home Loan?

You can apply offline by visiting the nearest bank branch or by online for Shubh Aarambh Home Loan.

2. What is the maximum home loan tenure of Axis Bank Shubh Arambh at the time of disbursement?

The maximum home loan tenure of 30 years at the time of disbursement of Axis Bank Shubh Aarambh.

3. What is the minimum and maximum loan amount provided by Axis Bank Shubh Aarambh Home Loan?

The minimum loan amount is Rs.1 lakh and the maximum loan amount is Rs.30 lakh for Axis Bank Shubh Aarambh Home Loan.

4. How much age of the customer is required to get a Shubh Aarambh Home loan from Axis Bank?

For the salaried employees the age is 21 years to 60 years is compulsory and for self employed individuals / professionals the age is 21 years to 65 years is compulsory.

5. Is there any processing fee charged by Axis Bank for Shubh Aarambh Home Loan?

Yes, the processing fee charged by Axis Bank for Shubh Aarambh Home Loan is 1% of the loan amount that has been availed up to a maximum of Rs.10,000.

Last Updated on : 17/Aug/2020

Know More About

Axis Bank Shubh Aarambh Home Loans

You're eligible for a Axis Bank Shubh Aarambh 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

Axis Bank Shubh Aarambh Home Loans Interest Rates

Updated on 25 Nov 2017

Axis Bank Shubh Aarambh 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

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