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.
The home loan also known as housing loan is the amount borrowed by the individuals from the financial institutions for a fixed tenure for buying, renovating or constructing a residential property. The property is mortgaged to the land or as a security till the repayment of the loan. In India, owning a house is one of the key signs of success but, for an average Indian, it gets difficult to generate the required income in such a short period of time.
Axis Bank’s Super Saver Home Loan scheme helps customers save on their total home loan interest amount. After home loan disbursal, customers can deposit any amount in the Super Saver Account to reduce their principal outstanding and subsequently the interest amount. The excess funds parked can be withdrawn as and when required by the customer.
1. Maximum repayment tenure upto 22 years
2. It helps customers save on their total home loan interest amount
3. Available for both salaried and self employment
4. It provided facility through ATM, cheque book and website
5. No prepayment charges allowed
6. Provides an attractive rate of interest starts at 8.15% to 8.30% per annum
7. Customers withdraw their funds whenever they required
To apply for a super saver home loan you have to pay fees and charges applied by the AXIS Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from AXIS Bank super saver home loan i.e processing fee, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.
|
TYPE |
CHARGES |
|
Processing fee |
Upto 1% of the loan amount subject to a minimum of Rs. 10,000/- Upfront processing fee of Rs 5000 plus GST shall be collected at the time of application login. |
|
Prepayment charges for floating rate loan |
NIL |
|
Prepayment charges for fixed rate loan |
2% of amount prepaid |
|
Loan amount |
Minimum Rs.10 lakh Maximum Rs.1.5 crore |
|
Penal interest |
24% p.a. or 2% p.m. |
|
Switching fee (floating to fixed rate loan) |
1% on the Drawing Power with a min of Rs.10,000/- |
|
Switching fee (fixed to floating rate loan) |
2% of the outstanding principal amount |
|
Repayment instruction / Cheque return charges |
Rs.500 per instance |
|
Cheque swap charges |
Rs.500 per instance |
|
Duplicate statement / issuance charges |
Rs.250 per instance |
|
Duplicate amortization schedule issuance charges |
Rs.250 per instance |
|
Duplicate interest certificate (provisional / actual) issuance charges |
Rs.250 per instance |
|
CERSAI Charges |
For loan upto Rs.5 lakh = Rs.50 Foe loan above Rs.5 lakh = Rs.100 |
|
Loan cover / Insurance |
Compulsory |
|
Duplicate Pin issuance charges |
Rs 100 |
|
Duplicate ATM card issuance charges |
Rs 150 |
|
Account Statement - Duplicate statement from Branch |
Rs.50 per statement |
|
Signature Verification Certificate |
Rs 100 per verification |
|
DD drawn on Axis Bank branches - Cancellation, Reissuance or Revalidation |
Rs.50/- per instance |
Before applying for a super saver home loan from AXIS bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the AXIS Bank Super Saver Home Loan application the salaried and self employed individuals are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
|
ELIGIBLE |
Salaried and self employed |
|
AGE |
21 years to 60 years |
|
NATIONALITY |
Indian Resident |
Any applicant who is going to avail a home loan must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of 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.
AXIS Bank Super Saver Home Loan Purposes
Purchase of new house
Purchase under construction house
Purchase of plot of land
Construction of plot of land
Home renovations, extensions and improvements
|
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 a super saver 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 “Super Saver home loan”
Now click on apply now and fill application form
AXIS Bank Home Loan Customer Care
Contact number : 18604195555 / 18605005555
Email id : loans@axisbank.com
The following formula is used to calculate EMI of Axis Bank Super Saver 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
Home loans are offered to individuals who wish to purchase or construct a house. The property is mortgaged to the land or as a security till the repayment of the loan
The minimum loan amount is Rs.50 lakh to take a super saver home loan from Axis Bank.
The repayment tenure provided by Axis Bank super saver home loans is upto 22 years..
The minimum age is 21 years and maximum age is 60 years to apply for a super saver home loan from Axis Bank.
The interest rate provided by Axis bank for super saver home loans starts at 8.15% to 8.30% per annum.
The processing fee charged by Axis Bank super saver home loan is Upto 1% of the loan amount subject to a minimum of Rs. 10,000/- Upfront processing fee of Rs 5000 plus GST shall be collected at the time of application login.
You can apply online or offline by visiting the nearest bank branch.
Axis Bank’s Super Saver Home Loan scheme helps customers save on their total home loan interest amount. After home loan disbursal, customers can deposit any amount in the Super Saver Account to reduce their principal outstanding and subsequently the interest amount
Last Updated on : 21/Aug/2020Know More About
You're eligible for a Axis Bank Super Saver 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 Super Saver Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 8.15% - 8.3% |
| Processing Fees | Upto 1% of the loan amount subject to a minimum of Rs. 10,000/- Upfront processing fee of Rs 5000 plus GST shall be collected at the time of application login. |
| Loan Tenure | 1 year to 22 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator