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AXIS Bank Home Loan
With attractive fixed and floating interest rates, Axis Bank offers Loan Amounts up to Rs. 5 Crore with Maximum repayment Tenure of 30 years.Powered By
AXIS Bank Home Loan
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Here are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 680+ |
| Applicant | Salaried & Self Employed Both |
| Applicant Age | Salaried-21 Year to 60 Year, Self Employed-21 Year to 65 Year |
| Loan Amount & Tenure | 50
Lac to 5Cr (5 Year to 20 Year) |
| Login Fees | 5900 |
| Rate of Interest & Type | 8.50% to 10% (Reducing) |
| TAT | 3 Days |
| Processing Fees | Self Employed-15K, Salaried 13K |
| Insurance & Other Charges | Insurance Charges:0%-2% |
| Foreclosure Charges | Nil for Individual & 2% for other than individual |
| Minimum Income | Which is fit to cover EMI |
| Lock In Period | Nil |
| Part Payment Allowed | Yes |
| Home Loan OD Product | Yes (Home Saver Product) |
| LTV | Lower
of (i) 90% of Market Value if Loan amount<30 Lac, 80% of Market Value if
Loan amount>30 lac-75Lac, >75Lac-75% of Market Value(ii) 130% of Registry Value |
| Product | 1.
Seller BT Product 2. New Purchase 3.BT+Topup 4. Plot Purchase+Construction 5. Home Renovation 6. Home Saver Product |
| Program | 1.
Banking Program-2 Cr 2. BT+Topup-Upto 5 Cr 3. Running Track Record-18M*1.15, 36 M*1.25 4. Normal Income- Upto 5 Cr 5. GST Program-Upto 2 Cr |
| CO - Applicant | Yes |
| FOIR | 1.Salary <1 Lac-60%, >1 Lac-75% 2. Self Employed-100% of Income |
| Negative Profile | Cash Salaried Applicant |
| Funded Property Type | (i) Residential Property (ii) Residential Plot Purchase (iii) Residential Plot Purchase & Construction |
| Negative Property | Lal Dora, Sub-divided Property, Legal & technical not clear, Khasra Khatauni, Without MAP Property, Unapproved Freehold property, Demolition List Property, Auction Purchase, Dual Unit without Map, Multi unit without Map, Basement |
| Accepted Collateral | All Approved Property |
| Business Vintage for Self Employed Person | 3 Year |
| Minimum Job Experience for Salaried Person | 2 Year |
| Experience with Current Employer | 3 Month |
| Any Specific Product for Professionals | Yes, Lower ROI for CA & Doctors |
| USP | 1.
Loan upto 130% of Registry Value 2. NRI Salaried & Self Employed Home Loan & Topup |
Work Process
Start with AXIS Bank Home Loan in few steps
If you are planning to apply for a home loan at AXIS bank home loan there are certain details that you should be aware of, Let’s discuss
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
To make you life simpler and hassle-free Axis Bank has various options among their Home Loan. Let’s have a look at them:
Axis Bank Home Loan
Features:
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Loans with Reducing Monthly Instalments
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Loan Amount: up to Rs. 5 Crore
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Maximum Tenure of 30 years
QuikPay Home Loan
Features:
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Loans with Reducing Monthly Instalments
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Loan Amount: up to Rs. 5 Crore
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Maximum Tenure of 30 years
Shubh Aarambh Home Loan
Features:
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12 EMIs off on regular payments of EMIs. 4 EMIs each waived at the end of 4th, 8th, and 12th year.
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No extra costs, nil prepayment charge.
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Loan Amount: upto Rs. 30 lakhs
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Maximum Tenure of 30 years
Fast Forward Home Loan
Features:
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12 EMIs off on regular payments of EMIs. 6 EMIs waived at the end of 10th and 15th year.
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No extra costs, nil prepayment charge.
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Loan Amount: Rs. 30 lakhs to Rs. 5 Crore
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Maximum Tenure of 30 years
Asha Home Loan
Features:
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Available on a minimum combined family income of Rs. 8000 p.m.
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Loan Amount: Rs. 1 lakh to Rs. 35 lakhs
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Maximum Tenure of 30 years Available on a minimum combined family income of Rs. 8000 p.m.
Top-Up Home Loan
Features:
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Top Up loan for existing Home Loan customers and for Balance Transfer customers.
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Get additional financing on the same property for personal or business requirements.
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Loan Amount: upto Rs. 50 lakhs
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Maximum Tenure is the same as outstanding Home Loan tenure
Super Saver Home Loan
Features:
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Home loan with an overdraft facility to save total interest payable on your home loan.
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Invest surplus funds in the account to earn interest and withdraw whenever needed.
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Loan Amount: Rs. 10 lakhs to Rs. 5 Crore
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Maximum Tenure of 20 years for a fully disbursed case and 22 years for a partly disbursed case
Power Advantage Home Loans
Features:
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Loans with 2 years fixed + floating rate of interest.
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Loan Amount: up to Rs. 5 Crore
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Maximum Tenure of 30 years
Eligibility and Documentation
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Numerous advantages are associated with Axis Bank Home Loans to assist you in fulfilling your dream of owning a home. The following information explains the requirements for getting an Axis Bank home loan:
Salaried individuals eligible for home loan
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Individuals who are employed permanently by the government or reputable organizations are eligible for the home loan.
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At the time of loan commencement, applicants must be older than 21 years old, and at the time of loan maturity, they must not be older than 60 or have reached retirement age, whichever comes first. Using the home loan EMI calculator, you may determine how much you must pay in monthly installments.
Professionals eligible for home loan
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Professionals such as physicians, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants are eligible for Axis Bank Home Loan.
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Applicants must be older than 21 at the initiation time of the home loan and younger than 65 at the time of loan maturity.
Self-employed individuals eligible for home loan
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Any individual who files income tax returns can apply.
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Applicants should be above 21 years of age at the time of the commencement of the home loan and up to 65 years or less at the time of maturity of the home loan.
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Home Loan Borrowing Limits: Minimum - Rs. 3 lakhs.
Margins
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For home loan upto Rs. 30 Lakhs - 10%
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For home loan above Rs. 30 Lakhs upto Rs. 75 Lakhs - 20%
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For loan above Rs. 75 Lakhs - 25%
You are required to submit the below documents to get your loan approved only in 5 days!
Mandatory Documents
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Application Form
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PAN Card
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Proof of Identity
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Proof of Address
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Date of Birth Proof
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Signature Proof
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Proof of Income
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For Balance Transfer / Takeover of Loan from other bank / financial institution
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For applicants who are Partners in a Firm / Directors in a CompanyLease Rental Discounting
Other Important Documents and Checks
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Income tax returns of previous 2 years
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Completely filled and duly signed application form along with all applicants latest passport size photo
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Aadhar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants
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PAN card is mandatory for all financial applicants
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Processing Fee and CERSAI cheques
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Self-attestation of borrowers on all documents submitted
Documents to be submitted before loan disbursement
Loan Agreement and Annexures
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Loan agreement as per product type
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Annexures to be duly filled, signed & stamped as per state law:
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MII (Most Important Information) pages
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MCLR consent letter
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Schedule of loan agreement
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List of Documents (LOD)
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Loan restriction letter (if any)
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Disbursement request letter
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For NRIs – franked GPA document
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Indemnity for under construction cases in plot loans
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Guarantor agreement (if applicable) Any alteration/correction to be authenticated by applicants
National Automated Clearance House (NACH) mandate/ Standing Instruction (SI) form and Security Cheques (SPDC)
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NACH / SI mandate with a signed cancelled cheque with A/C holder's name as per bank records
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SPDC - 3 undated security PDCs equivalent to EMI amount
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1 undated cheque with amount kept blank
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1 cheque towards PEMI amount
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SPDC favoring "AXIS BANK LTD LOAN A/C Customer Name
Loan Cover/ Insurance Details
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Property insurance application form (mandatory)
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General insurance application form (if applicable)
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Life insurance application form (if applicable)
Processing Fee / Equitable Mortgage cheques
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Balance processing fee cheque (with clearance details)
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Equitable mortgage charges / stamping charges favoring
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"AXIS BANK LTD A/C SERVICE CHARGES"
Property Documents
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Property documents as per type of transaction, according to bank's policy
For Balance Transfer / Takeover of loan from other bank / financial institution
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Original list of documents from previous financer
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Equitable mortgage charges / stamping charges favoring
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Existing loan details and 6 months bank statement from where EMI is deducted
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ndenture of guarantee, undertaking of indemnity, forwarding letter and Annexures in Axis Bank format
Own Contribution Receipts
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Own contribution receipts
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Bank statement reflecting debit of own contribution paid
Sanction Letter
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Duly accepted and signed by all applicants / power of attorney
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All sanction conditions to be met
TDS
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If TDS is being paid by applicant – TDS challan & bank statement reflecting debit of TDS paid
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If TDS is not paid by applicant – Undertaking cum indemnity to deduct TDS amount from disbursement
PSL Documents
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Financial documents (any of the below):
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Audited balance sheet
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CA certificate – original investment in Plant & Machinery
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Copy of invoice (investment in Plant & Machinery)
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Additional documents (any of the below):
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Audited / Unaudited (Profit & Loss Account)
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GST registration certificate
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For LAP cases – PSL Annexures
Other documents (to be collected if applicable)
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Letter from customer towards opting for EMI in case of partly disbursed case
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Vernacular/indemnity bond Dual name/dual sign affidavit
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Credit Linked Subsidy Scheme (PMAY) affidavit
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Amenities agreement duly signed by 3rd party/sellers
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End use letter for Top Up/LAP/LAP top up cases
Visit the below link to download the list of documents mentioned above.
Disclaimer: This is an indicative list only. Additional documents may be asked for on a case-to-case basis.
About AXIS Bank Home Loan
Owning a house of own is the dream of every individual; however, the financial demands can take you a step back. But not anymore!! Axis Bank is providing the best home loans at affordable interest rates. With the Axis Bank Home Loan, you can space out your payments over a longer period of time with smaller monthly installments, attractive interest rates, a simple application process, doorstep service, etc.
Axis Bank can be a perfect pick if you want to get a home loan starting with INR 3,00,000. They have a dedicated team of professionals who will help you out with the entire process of loan disbursal. To know more about it, let’s follow up on this article till the end and discover the benefits of getting a Home Loan with Axis Bank.
FREQUENTLY ASKED QUESTIONS
What purpose does a Home Loan serve best?
A Home Loan is the best pick if you want some financial aid in building or buying a home. Axis Bank Home is one such that can help you exactly with that.
How do Home Loans work?
Home loans provide you with a lump sum advance of funds toward purchasing the property of your choice; this sum will be repaid with interest. However, you can accomplish your dream of owning a property in a practical and organized manner by repaying the money borrowed through EMIs (Equated Monthly Installments).
I am 22 years old and self employed. Can I get a Home Loan?
Yes, you are eligible to get a home loan from Axis Bank. Moreover, you can check the eligibility from here.
What is the maximum home loan amount that I can avail from Axis Bank?
With Axis Bank, you can avail of a home loan amount of up to Rs. 5 Crore.
What is the Processing Fee at Axis Bank Home Loan?
The processing fee at Axis Bank Home Loan is Up to 1% of the loan amount +GST (minimum Rs 10,000).
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