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.
“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.
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
|
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 |
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.
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 |
|
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Starts at 7.75% onwards |
|
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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 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 : [email protected]
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 :
You can apply offline by visiting the nearest bank branch or by online for Shubh Aarambh Home Loan.
The maximum home loan tenure of 30 years at the time of disbursement of Axis Bank Shubh Aarambh.
The minimum loan amount is Rs.1 lakh and the maximum loan amount is Rs.30 lakh for Axis Bank Shubh Aarambh Home Loan.
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.
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/2020Know More About
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
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