You can check the status of your Axis Bank Home Loan via the official Axis Bank website or the Axis Bank mobile app available from Axis Bank. You may also go to the Axis Bank branch to check the status of your Axis Bank Home Loan.
Axis Bank Home Loan
Axis Bank provides home loans with interest rates starting from 8.55% per annum for terms extending up to 30 years and for loan sums of up to Rs. 5 crore. It also provides home loans for affordable housing and unique home loan options featuring decreasing EMIs, EMI waivers, an overdraft facility for home loans, and loans with combined interest rates (fixed for 2 years and then floating interest rates).
Axis Bank Home Loan Highlights
| Particulars | Details |
|---|---|
| Home Loan Interest Rate | 8.55% onwards |
| Loan Amount | Rs 3 lakh to Rs 5 Crore |
| Loan Tenure | Up to 30 years |
| Processing Charges |
Up to 1% (Min. of Rs 10,000) + GST |
Table of Contents
Axis Bank Home Loan Interest Rate
Axis Bank Home Loan interest rates begin at 8.55% per annum. The bank provides interest rates based on the type of home loan plans, interest rate types (fixed or floating), loan sizes, and the occupation profiles of applicants. The interest rates for different Axis Bank Home Loan programs available to home loan applicants are listed below.
Types of Axis Bank Home Loan
Different types of Axis Bank Home Loan are as follows:
1. Axis Bank Housing Loan
- Axis Bank offers a regular home loan scheme to Resident Indians and NRIs for purchasing/constructing/renovating houses.
- Loan Amount: ₹3 lakh to ₹5 crore
- Tenure up to 30 years
- LTV Ratio:
| Particulars | Details |
|---|---|
| Loan amount up to ₹30 lakh | Up to 90% of property cost |
| Loan Amount above ₹30 lakh-₹75 lakh | Up to 80% of property cost |
| Loan amount above ₹75 lakh | Up to 75% of property cost |
2. Axis Bank QuikPay Home Loan
- Axis Bank QuikPay Home Loan enables borrowers to pay off larger principal sums sooner within the loan period. Consequently, the EMIs decrease monthly, allowing borrowers to save significantly on interest payments.
- Loan Amount: Up to Rs 5 crore
- Tenure: Up to 30 years
- LTV Ratio:
| Particulars | Details |
|---|---|
| Loan Amount up to ₹30 lakh | Up to 90% of property cost |
| Loan Amount above ₹30 lakh-₹75 lakh | Up to 80% of property cost |
| Loan Amount above ₹75 lakh | Up to 75% of property cost |
3. Axis Bank Shubh Aarambh Home Loan
- Customers can access the Shubh Aarambh Home Loan from Axis Bank for buying under-construction/ready/resale properties. This loan option can also be utilized for buying a plot along with its construction, for building a home on a plot already owned, and for making enhancements or extensions to an existing home. Shubh Aarambh Home Loan customers who have a spotless repayment history receive 12 EMI waivers, with 4 EMIs forgiven at the conclusion of the 4th, 8th, and 12th years of the loan period. Borrowers may also partially prepay their Shubh Aarambh home loans, provided the tenure remains above 4 years.
- Loan Amount: Up to Rs 30 lakh
- Tenure: Minimum is 20 years at the time of loan disbursement and Maximum is up to 30 years.
4. Axis Bank Fast Forward Home Loan
- Potential home loan applicants can take advantage of the Axis Bank Fast Forward Home Loan for acquiring an under-construction, ready, or resale property, as well as for plot purchase with construction, self-building, or home extension/improvement. The Axis Fast Forward Home loan offers 12 EMI waivers, with 6 EMIs waived at the end of 10 years and an additional 6 months after 15 years, given that the borrower maintains a clean repayment history. Borrowers are also allowed to partially prepay their home loans provided that the tenure remains above 10 years. This loan option is also accessible to current home loan borrowers from other lenders intending to use the home loan balance transfer feature.
- Loan Amount: Rs 30 Lakh to Rs 5 crore
- Tenure: Minimum is 20 years at the time of loan disbursement and Maximum is up to 30 years.
- LTV Ratio:
| Particulars | Details |
|---|---|
| Loan Amount up to ₹30 lakh | Up to 90% of property cost |
| Loan Amount above ₹30 lakh-₹75 lakh | Up to 80% of property cost |
| Loan Amount above ₹75 lakh | Up to 75% of property cost |
5. Axis Bank Asha Home Loan
- Axis Bank offers a cost-effective home loan scheme named Asha Home Loans to its customers whose aggregate family income is at least Rs 8,000 per month for the purpose of purchasing a ready/under construction/resale house, for renovation/extension of existing property, self-construction of home, and acquisition of land and construction of house.
- Axis Bank offers a waiver of 12 EMIs under its Asha Home Loan scheme wherein 4 EMIs are waived at the end of the 4th, 8th, and 12th year of the loan tenure. EMI waiver facility under the Asha Home Loan scheme is allowed only to customers who have made timely repayments of the loan amount. The Asha Home Loan can also be partially prepaid by the customer subject to the minimum tenure not less than 4 years.
- Loan Amount: Rs 1 Lakh to Rs 35 Lakh
- LTV Ratio: Up to 90% of property cost (on loan amount up to Rs 30 lakh)
- Tenure: Minimum is 20 years at the time of loan disbursement and Maximum is up to 30 years.
Also Read: 6 Benefits for Women Borrowers taking Home loan in India
6. Axis Bank Super Saver Home Loan
- Axis Bank Super Saver Home Loan offers a home loan overdraft option that allows applicants to deposit excess funds into the associated overdraft account and withdraw money as required, staying within the established limit.
- Loan Amount: ₹10 Lakh to ₹5 Crore
- Tenure: Up to 20 years
- LTV Ratio:
| Particulars | Details |
|---|---|
| Loan Amount up to ₹30 lakh | Up to 90% of property cost |
| Loan Amount above ₹30 lakh-₹75 lakh | Up to 80% of property cost |
| Loan Amount above ₹75 lakh | Up to 75% of property cost |
7. Axis Bank Power Advantage Home Loan
- Axis Bank provides Power Advantage Home Loans featuring fixed interest rates for the initial 2 years of the loan period, after which a floating rate of interest applies for the rest of the loan duration.
- Loan Amount: Up to Rs 5 crore
- Tenure: Up to 30 years
- LTV Ratio:
| Particulars | Details |
|---|---|
| Loan Amount up to ₹30 lakh | Up to 90% of property cost |
| Loan Amount above ₹30 lakh-₹75 lakh | Up to 80% of property cost |
| Loan Amount above ₹75 lakh | Up to 75% of property cost |
8. Axis Bank Top-Up Home Loan
- Axis Bank Top-up Home Loan is available to current home loan clients and those transferring their home loan balance who need extra funds for personal or business purposes, or for building residential or commercial properties.
- Loan Amount: Up to Rs 50 Lakh.
- Tenure: Same as the outstanding home loan tenure.
Also Read: What is Top up Home Loan?
Home Loan Interest Rates of Axis Vs Other Top Lenders
| Banks/NBFCs | Interest Rate (%) | Action |
|---|---|---|
| Aadhar Housing Pvt Ltd | 10.50% onwards | Apply Now |
| Axis Bank | 8.55% onwards | Apply Now |
| Bajaj Housing Finance | 8.50% onwards | Apply Now |
| HSBC | 8.45% onwards | Apply Now |
| Godrej Housing Finance | 8.75% onwards | Apply Now |
| Capri Global Housing Finance Ltd | 10% onwards | Apply Now |
| Bank of Baroda | 8.40% onwards | Apply Now |
| DBS Bank | 8.50% onwards | Apply Now |
| Edelweiss Housing Finance Ltd | 8.70% onwards | Apply Now |
| Indiabulls | 8.80% onwards | Apply Now |
| Federal Bank | 8.60% onwards | Apply Now |
| HDFC Ltd. | 8.60% onwards | Apply Now |
| ICICI Bank | 8.65% onwards | Apply Now |
| ICICI Home Finance | 8.90% onwards | Apply Now |
| Kotak Mahindra Bank | 8.50% onwards | Apply Now |
| PNB Housing Finance | 8.60% onwards | Apply Now |
| State Bank of India | 8.45% onwards | Apply Now |
| IIFL | 8.90% onwards | Apply Now |
| Aditya Birla Housing Limited | 8.75% onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% onwards | Apply Now |
| Piramal Housing Finance Ltd | 10.50% onwards | Apply Now |
Axis Bank Home Loan Eligibility Criteria
The eligibility criteria to apply for Axis Bank Home are as follows:
- Salaried or Self-employed individuals are eligible for Axis Bank Home Loan.
- The applicant should have a clean track record throughout the loan tenure- No case of dues pending for 90 days and above, not more than 3 cases of pending dues for 30 days and above.
- No penal charges or any other charges should be due on the borrower.
Also Read: Benefits for Women Borrowers
Axis Bank Home Loan Eligibility for Salaried
- For Salaried Individuals, securing a Home Loan requires a stable employment history, typically within government sectors or reputed companies.
- Applicants must be over 21 and under 65 years or the age of retirement by the loan’s end.
- Make sure all required documents for the home loan, including employment verification and financial stability proofs are thoroughly checked, as they are key to a successful application.
Axis Bank Home Loan Eligibility for Professionals
- Professional Applicants, such as doctors, lawyers, chartered accountants or management consultants are eligible to apply for a Home Loan.
- The age limit is between 21 and 65 years.
- The Home Loan documents list extends to professional qualifications and proof of practice for these applicants to ensure credibility and a reliable repayment structure.
Axis Bank Home Loan Eligibility for Self-Employed
- Self-employed business owners and entrepreneurs looking to invest in property must ensure comprehensive documents required for a Home Loan Application, showcasing consistent income through tax returns.
- Eligibility depends on being over 21 years at loan initiation and under 65 years at loan closure, with a strong financial record to support the application.
Documents Required for Axis Bank Home Loan
The list of important documents required for home loan is given below:
- Application Form: Duly filled application form
- ID Proof: Aadhaar card, passport, government employee ID, voter ID, driving license, photo ID issued by Government of India
- Address proof: Aadhaar card, passport, government employee ID, voter ID, driving license, photo ID issued by Government of India, electricity bill, telephone bill, gas bill, property tax receipt
- Date of Birth Proof: Passport, PAN Card, Aadhaar card, Birth certificate, SSC Marksheet
- Signature Proof: Passport, PAN Card, Banker’s verification, Notarized affidavit with address and ID proof.
Income Proof for Salaried
- Pay slip for 3 months
- 2 years bonus proof or pay slip for 6 months
- Bank statement for 6 month reflecting salary credits
- Form 16 for 2 years
Income Proof for NRI (Salaried)
- Pay slip for 3 months
- Contract letter/appointment letter
- Passport Copy
- Valid VISA copy
- Overseas credit report
- Continuous Discharge Certificate for shipping cases
- International salary account statement for 6 months
- Domestic/NRE/NRO account statement for 6 months
Income Proof for Self-Employed
- ITR, income computation, P&L, balance sheet with CA seal and sign for 2 years (For Asha Home Loan- ITR, income computation, P&L, balance sheet with CA seal and sign for 1 year)
- Bank statement for personal and business accounts for 6 months
- Business continuity proof for 3 years
- Tax paid challan and CPC if ITR is filed with no digital signatures
- Tax Audit Report (If gross turnover exceeds Rs 1 crore or gross receipt exceeds Rs 25 lakh).
Axis Bank Home Loan EMI Calculator
Potential borrowers seeking a home loan from Axis Bank can utilize the Home Loan EMI Calculator to determine their EMI and overall interest expenses. They simply have to input the interest rate, loan duration, and loan sum into the EMI calculator. They can also utilize the Home Loan EMI Calculator to determine their ideal loan tenure according to their repayment ability.
How to Apply for Axis Bank Home Loan?
The candidates may apply for an Axis Bank Home Loan by following these steps:
- Potential home loan applicants can go to the official Axis Bank website and complete the online home loan application form provided there. They may also go to an Axis Bank branch or loan center to apply for an Axis Bank Home Loan.
- The applicant must provide the KYC and property documentation.
- The lender would subsequently assess the loan application according to the documents provided by the applicant and his credit history. The lender may perform a physical inspection of the property during the loan application process.
Axis Bank Home Loan Process
The steps taken to get home loans from Axis Bank can be summarized as given below:
- To initiate the review of the loan application, give the processing fee.
- Following this, Axis Bank reviews the applicant’s profile based on his/her provided data.
- Forward all the papers required for availing a home loan to the lender.
- After this, the bank analyzes the loan request based on the credit policies.
- Once sanctioned, the bank issues the sanction letter stating all loan details.
- The lender then examines the property against legal and valuation requirements.
- Upon verification, the loan is approved.
How to Apply for a Home Loan Through OneNDF
When seeking a mortgage loan at OneNDF, you won’t need to navigate a pile of paperwork or endure a tedious process. Here’s the approach to take:
- Visit the official website of OneNDF and register or login.
- Register on the funds using your mobile number and generate a one time password.
- Upload any required financial or identification documents.
- Complete the mortgage application form.
- Through OneNDF, you will get in touch with numerous lenders that are ready to provide you with great rates on their mortgages.
That’s all! Your application has been sent. A member of our team will reach out to you soon to assist you with the upcoming steps.
Axis Bank Home Loan Customer Care/Grievance Redressal
Contact Details:
- 1860 419 5555
- 1860 500 5555
- 1800 103 5577 (Toll free Number)
- 1800 209 5577 (Toll Free Number)
FAQs
The eligibility for a home loan is determined by factors such as income, age, credit score, dependents, assets and liabilities, job stability, and the continuity of the applicants.
Initiate your Axis Bank Home Loan Application by completing the form online or at any Axis Bank Branch. Submit your application along with the requisite KYC documentation. Post sanction, provide the necessary property documents. Following document verification and property appraisal, the loan approval and disbursement occurs within 15 days, subject to accurate and complete documentation.
The bank provides loans with both fixed and variable interest rates. For floating rate loans, the interest rate will adjust whenever there is a change in the bank’s MCLR (Marginal Cost of Funds-based Lending Rate). In the case of fixed-rate loans, the rate stays constant for the entire duration.
Axis Bank has not provided a defined credit score threshold for its home loan applicants. Nonetheless, credit scores of 700 or higher typically boost the likelihood of securing home loans. A better credit score can also enable you to secure a home loan at reduced interest rates.
