AXIS Bank Loan Against Property Interest Rates, EMI Calculator, Required Documents

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AXIS BANK LOAN AGAINST PROPERTY

AXIS Bank Loan Against Property Details

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.

A Loan against Property is a type of secured loan availed against a residential or commercial property kept as collateral with the lender. In this loan, you get as much amount you want and can be paid back with easy monthly installments. From this loan, you can buy any property or can make your own home or residence. Axis Bank Loan Against Property is for salaried employees, self employed individuals and self employed professionals. It is available for lease rental discounting and overdraft facility against your property, with Axis Bank offering mortgage loans starting from Rs. 5 lakh and loan tenure upto 20 years at attractive interest rates starting at 11.25%. The Bank offers Loan Against Property at both fixed and floating interest rate.

Benefits of AXIS Bank Loan Against Property  

1. Loan amount starts from Rs. 5 lakh to Rs.5 crore 

2. Avail lease rental discounting and overdraft facility against your property

3. Flexible repayment tenure upto 20 years

4. It is for salaried employees, self employed individuals and self employed professionals

5. 20% to 30% margin in case of purchased of commercial properties

6. 40% to 55% margin in case of loan against residential/ commercial properties

7. Attractive interest rate starting at 11.25% per annum onwards

8. Loan Balance transfer facility available 

Fee and Charges of AXIS Bank Loan Against Property

To apply for a loan against property 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 i.e processing fee, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.

TYPE 

CHARGES 

Loan Processing Charges

1% or Rs 10,000 (whichever is higher)

Pre- Prepayment/Foreclosure Charges

No prepayment will be allowed in the first quarter

Individuals – Nil

Non-individuals – 3%, if the amount pre-paid exceeds 25% of the principal outstanding during a calendar quarter, else no prepayment penalty

Duplicate No Dues Certificate/NOC

Rs. 500 per instance

Penal Interest

Penal interest @24% per annum i.e. @ 2% per month on the overdue instalment/s

Cheque Bounce Charges

Rs. 500 per instance

Cheque swapping charges

Rs. 500 per instance

Duplicate statement issuance charges

Rs. 250 per instance

Issuance Charges for Photocopy of Title Deeds

Rs. 250 per document set

Credit Report Issuance Charges

Rs. 50

Eligibility Criteria for AXIS Bank Loan Against Property 

Before applying for a loan against property from AXIS Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the AXIS Bank loan against property application the salaried and self employed individuals / professionals 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.

Axis bank Loan Against Property Eligibility for Salaried Individuals

  • The applicant must be in permanent service in the government or a reputed organisation

  • The applicant should be between 24 and 60 years

Axis bank Loan Against Property Eligibility for Self-employed Individuals

  • The applicant should be filing IT returns

  • The age of the applicant should be between 24 and 65 years

Axis bank Loan Against Property Eligibility for Self-employed Professionals

  • Only professionals including doctors, cost accountants, engineers, management consultants, chartered accountants and company secretaries can apply for the loan

  • The age of the applicant should be between 24 and 65 years

Documents Required for AXIS Bank Loan Against Property

Any applicant who is going to avail for loan against property from AXIS Bank, must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. Filled Application Form

2. PAN Card

3. Proof of Identity : Passport, Aadhaar Card, Driving License, Voter ID, Government Employee ID

4. Proof of Address : Aadhaar Card, Driving License, Voter ID, Government Employee ID, Electricity bill, Gas bill, Telephone bill, Property tax receipt

5. Date of Birth Proof : Passport, Driving License, PAN Card, Birth Certificate, Aadhaar Card with DOB, SSC Marksheet

6. Signature Proof : Passport, PAN Card, Bankers verification or Notarized affidavit with ID & Address Proof)

  1. Proof of Income for Salaried:

    1. 3 months’ pay slip or 6 months’ pay slip/2 yrs. bonus proof)

    2. 6 months bank statement showing salary credits

    3. 2 yrs. Form 16 or Employment Continuity Proof

  2. Proof of Income for Salaried NRIs:

    1. 3 month pay slip

    2. Appointment letter/contract letter

    3. Continuous Discharge Certificate for Shipping cases

    4. 6 month Domestic NRE/NRO a/c statement

    5. 6 month international salary a/c statement

    6. Overseas credit report

    7. Valid visa copy/OCI card

    8. Passport copy

    9. POA details

  3. Proof of Income for Self Employed:

    1. 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    2. For Asha HL – 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    3. Tax Audit Report (If Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)

    4. 6 months bank statements of personal and business accounts

    5. If ITR is filed without digital sign – CPC and tax paid challan

    6. Business continuity proof (3 yrs for HL / 5 yrs for LAP)

  4. Other Important Documents & Checks:

    1. Aadhaar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants

    2. PAN card is mandatory for all financial applicants

    3. Processing Fee and CERSEI cheques

    4. Self-attestation of borrowers on all documents submitted

Compare other bank loan against property interest rate 

BANKS

INTEREST RATE 

AXIS Bank Loan Against Property

Starts at 11.25% 

AXIS Bank Lease Rental Discounting 

Starts at 11% 

AXIS Bank Overdraft Facility Against Property

Starts at 11%

AXIS Bank Reverse Mortgage Loan

Starts at 11%

SBI Bank Loan Against Property

Starts at 10.85%

YES Bank Loan Against Property 

Starts at 10.50%

IDBI Bank Loan Against Property

Starts at 11.25%

RBL Bank Loan Against Property 

10.65% to 16.25%

HSBC Bank Loan Against Property 

Starts at 8.60%

HSBC Bank Smart Loan Against Property 

Starts at 8.75%

Indusind Bank Loan Against Property 

9.50% to 13.50%

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 Loan Against Property 

There are two ways to apply for loans against property from AXIS Bank

1. Offline Method : By visiting nearest bank branch

2. Online Method :

  • Firstly visit lenders website from which you want to get a loan

  • Fill the application form and read all the term and conditions

  • Attach all required documents with an application form

  • After submitting form lenders will let you know that you eligible or not for the loan

AXIS Bank Loan Against Property Customer Care

Contact number : 18604195555 / 18605005555

Email id : loans@axisbank.com

How to calculate EMI of AXIS Bank Loan Against Property

The following mathematical formula is used to calculate EMI of AXIS Bank Loan Against Property is :

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

In this formula,

EMI - Equated Monthly Instalment

P - Principal amount (amount borrowed as loan)

R – Applicable rate of interest (interest rate should be on a monthly basis)

N - Loan tenure or the number of EMIs to be paid (tenure should be in 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 Loan Against Property Frequently Asked Question

1. What is a loan against property?

A Loan against Property is a type of secured loan availed against a residential or commercial property kept as collateral with the lender. In this loan, you get as much amount you want and can be paid back with easy monthly installments. From this loan, you can buy any property or can make your own home or residence.

2. What is the minimum loan amount of AXIS Bank loan against property?

The minimum loan amount is Rs.5 lakh to take a loan against property from Axis Bank.

3. How much repayment tenure is provided by Axis Bank loan against property?

The repayment tenure provided by Axis Bank loan against property is upto 20 years..

4. How much interest rate is provided by Axis Bank loan against property?

The interest rate provided by Axis bank for loan against property starts at 11.25% per annum.

5. How much processing fee charged by Axis Bank loan against property?

The processing fee charged by Axis Bank loan against property is 1% or Rs 10,000 (whichever is higher).

6. How to apply for an Axis Bank loan against property?

You can apply online or offline by visiting the nearest bank branch to apply for Axis Bank loan against property.

Last Updated on : 30/Aug/2020

Know More About

Axis Bank Loan Against Property

You're eligible for a Axis Bank Loan Against Property 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 Loans Against Properties 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 Loan Against Property Interest Rates

Updated on 25 Nov 2017

Axis Bank Loan Against Property Details
Interest Rate (Monthly reducing balance) 11.25% - 0%
Processing Fees 1% or Rs. 10,000 , whichever is higher
Loan Tenure 1 year to 20 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Loans Against Properties 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