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Axis Bank Loan Against Property

Axis bank loan against property is a sound-good financial solution for those who are searching for a source of funding and have a residential or commercial property to offer as security to the bank. The bank caters this loan for amounts starting from Rs 5 lacs and ranging up to Rs 5 crore. Axis bank brings loan against property at competitively affordable rates and allows borrowers to avail the loan for a tenure up to 20 years. Whether you are a salaried individual or a self employed person, you can check out this type of Axis bank home loan and try to treat yourself with financial fulfilments.

Axis Bank Loan Against Property (LAP) Interest Rates

Loan Amount

up to Rs 5 crore

Interest Charges

Starts at 10.50% 

Processing Fees

Up to 1% of the loan amount plus applicable taxes (minimum Rs 10,000)

Tenure

Up to 20 years

Prepayment Charges

Up to 3% of the outstanding principal 

Axis Bank Loan Against Property Features & benefits

We have listed below the features of Axis bank loan against property that you must know when going through your options:

  • Purpose

Axis bank loan against property can be availed for many possible reasons. This loan is offered to help you finance different types of expenses such as medical emergencies, wedding expenditure or any type of personal events. All that it requires is you to offer your residential/commercial property as collateral to the lender.

  • Loan Amount

The bank offers the loan amount starting from Rs 5 lacs and going up to the maximum of Rs 5 crore. However, the loan amount is hugely dependent on the profile of the applicant (employment, age, income etc.), their track of repayment, existing liabilities and many different factors. 

  • Rate of Interest

Rate of Interest is something which helps you a lot in deciding which lender is right for you. The Axis bank loan against property interest rates start at 10.50% per annum and go up to 11.25% per annum. Know that the rate of interest is decided upon the key points such as applicant’s income, repayment capacity and other important factors including of course, repayment tenure. 

  • Loan Repayment Tenure

The bank brings flexible mortgage loans repayment tenure options that range up to 15 years for salaried individuals and up to 20 years for self employed individuals/professionals.

  • Balance Transfer

The bank allows borrowers to transfer their existing loan from another bank to the Axis bank which is an incredible way to save up on interest rates. 

  • Prepayment

You are allowed to make prepayment/part-prepayment of your loan and stop paying interest charges. The bank allows you to prepay your loan after completion of the first quarter of loan tenure. However, you will be charged up to 3% of the outstanding amount as Axis bank LAP foreclosure/ part-prepayment fees. This charge is applicable only if the amount is more than 25% of the outstanding principal. 

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 for Axis Bank Mortgage Loan

Mentioned below are the Axis bank loan against property eligibility requirements that you must fulfill in order to make sure the loan gets approved smoothly:

  • This loan is offered to the salaried, self employed individuals and the professionals.
  • Applicants must have a residential or commercial property to offer as collateral.
  • The minimum age of applicants should be 24 years when the loan is commenced.
  • Borrowers should be up to 65 years of age or less when the loan completes.

Documents Required for Axis Bank Loan Against Property (LAP)

Here are the documents required for Axis bank loan against property:

Documents 

Salaried Applicants

Self Employed Applicants

Identity Proof

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Address Proof

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

Income Proof

Salary Slips, Bank Statements, Form 16

Balance sheet and profit and loss account, IT Returns, Business Proof

Other Documents

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Compare other bank loan against property interest rate

BANKS

INTEREST RATE 

AXIS Bank Loan Against Property

Starts at 11.25% 

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%

Indusind Bank Loan Against Property

9.50% to 13.50%

Axis Bank Loan Against Property EMI Calculator

You can use Axis bank home loan EMI calculator to know the payable amount of equated monthly instalment which you will have to pay for your loan. Knowing the Axis bank loan against property EMI amount will help you make better decisions about your monthly budgets and choose a perfect repayment plan.

Here is how to use Axis bank home loan calculator:

  • Go to the official website of Axis bank.
  • Now hop to the “Explore Products” section.
  • Hit the “Loan Against Property” option in the “Loans” menu.
  • Click and expand the “Calculators” list.
  • Go to the “Home Loan EMI” calculator.
  • Complete the fields by entering the loan amount, interest rate and tenure.

Now you can see the payable EMI for your loan.

To calculate the loan against property EMI faster, you can use the BankSathi loan against property EMI calculator. This tool is incredibly smooth and quick to show you the monthly as well as the yearly cost of your loan.

How to Apply for Axis Bank Loan Against Property?

To apply for Axis bank loan against property, you can do the following:

  • Apply for loan against property offline

You need to visit the nearest branch of Axis bank to apply for an Axis mortgage loan. Make sure you have all the important documents that are required by the bank for loan application. 

  • Apply for loan against property online

Here are the steps to apply for this loan online:

  • Go to the official website of Axis bank.
  • Now hop to the “Explore Products” section.
  • Hit the “Loan Against Property” option in the “Loans” menu.
  • After that, click the “Apply Online” option.
  • Enter required details including your name, city and mobile number.
  • Hit the “Submit” button.

Now that your Axis bank home loan is submitted to the bank, you will get a call from the bank representative to get ahead with the application procedure.

Axis Bank Loan Customer Care Number

If you need to know anything else regarding this loan, then you can make a call to the Axis bank home loan customer care and get your query answered.

Here is the Axis bank customer support number:

1 - 860 - 419 - 5555, 1 - 860 - 500- 5555

FAQs On Axis Bank Loan Against Property

Q.1 What are the Axis bank loan against property interest rates? 

The Axis bank loan against property interest rates start at 10.50% per annum and ranges up to 11.25% per annum.

Q.2 Are there any charges for Axis bank loan against property foreclosure? 

For prepayment/part-prepayment of loan against property, the bank charges a fee of up to 3% of the outstanding principal if the amount exceeds 25% of the outstanding balance.

Q.3 Does Axis bank offer the balance transfer facility? How do I apply for it? 

Yes. You can apply for an Axis bank loan against the property balance transfer facility. You can either do it online from the official website or you can go to the nearest bank branch to apply for it. 

Q.4 What is the Axis bank loan against property processing fee? 

Axis bank charges loan applicants a processing fee of 1% of the loan amount (minimum of Rs 10,000) for loan against property.

Q.5 How do I contact Axis bank?

Here are the Axis bank customer support numbers that you can dial: 

1 - 860 - 419 - 5555, 1 - 860 - 500- 5555

Q.6 What is the maximum loan amount can I get on an Axis bank loan against property? 

You can get up to Rs 5 crore on Axis bank loan again property.

Last Updated on : 28/Apr/2021

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