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AXIS Bank Home Loan

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Product Rating

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Loan Amount
Upto Rs. 5 crore
Loan Tenure
30 years
Floating Interest Rate
8.10%-8.45%
Fixed Interest Rate
14%
Processing Fee
Up to 1% of the loan amount +GST (minimum Rs 10,000)

Location

PAN India
Pre-payment Charges

Nil


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.

Let’s have a look at the table for a concise view

Loan Amount
Upto Rs. 5 crore
Loan Tenure
30 years
Floating Interest Rate
8.10%-8.45%
Fixed Interest Rate
14%
Processing Fee
Up to 1% of the loan amount +GST (minimum Rs 10,000)

Location

PAN India
Pre-payment Charges

Nil


Different types of Home Loans offered by Axis Bank

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:

  • Loans with Reducing Monthly Instalments

  • Loan Amount: up to Rs. 5 Crore

  • Maximum Tenure of 30 years



QuikPay Home Loan

Features:

  • Loans with Reducing Monthly Instalments

  • Loan Amount: up to Rs. 5 Crore

  • Maximum Tenure of 30 years


Shubh Aarambh Home Loan

Features:

  • 12 EMIs off on regular payments of EMIs. 4 EMIs each waived at the end of 4th, 8th, and 12th year.

  • No extra costs, nil prepayment charge.

  • Loan Amount: upto Rs. 30 lakhs

  • Maximum Tenure of 30 years


Fast Forward Home Loan

Features:

  • 12 EMIs off on regular payments of EMIs. 6 EMIs waived at the end of 10th and 15th year.

  • No extra costs, nil prepayment charge.

  • Loan Amount: Rs. 30 lakhs to Rs. 5 Crore

  • Maximum Tenure of 30 years


Asha Home Loan

Features:

  • Affordable home loans for both Salaried and Self Employed customers.

  • Available on a minimum combined family income of Rs. 8000 p.m.

  • Loan Amount: Rs. 1 lakh to Rs. 35 lakhs

  • Maximum Tenure of 30 years Available on a minimum combined family income of Rs. 8000 p.m.


Top-Up Home Loan

Features:

  • Top Up loan for existing Home Loan customers and for Balance Transfer customers.

  • Get additional financing on the same property for personal or business requirements.

  • Loan Amount: upto Rs. 50 lakhs

  • Maximum Tenure is the same as outstanding Home Loan tenure


Super Saver Home Loan

Features:

  • Home loan with an overdraft facility to save total interest payable on your home loan.

  • Invest surplus funds in the account to earn interest and withdraw whenever needed.

  • Loan Amount: Rs. 10 lakhs to Rs. 5 Crore

  • Maximum Tenure of 20 years for a fully disbursed case and 22 years for a partly disbursed case


Power Advantage Home Loans

Features:

  • Loans with 2 years fixed + floating rate of interest.

  • Loan Amount: up to Rs. 5 Crore

  • Maximum Tenure of 30 years



Eligibility and Documentation

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

  • Individuals who are employed permanently by the government or reputable organizations are eligible for the home loan.

  • 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

  • Professionals such as physicians, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants are eligible for Axis Bank Home Loan.

  • 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

  • Any individual who files income tax returns can apply.

  • 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.

Home Loan Borrowing Limits: Minimum - Rs. 3 lakhs.

Margins

  • For home loan upto Rs. 30 Lakhs - 10%

  • For home loan above Rs. 30 Lakhs upto Rs. 75 Lakhs - 20%

  • 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

  • Application Form

  • PAN Card


Proof of Identity

Any one of the following:


  • Passport

  • Aadhaar Card

  • Driving License

  • Voter ID

  • GOI issued Photo ID

  • Govt Employee ID


Proof of Address

Any one of the following:


  • Aadhaar Card Driving License

  • Voter ID

  • GOI Issued Photo ID

  • Govt Employee ID

  • Electricity Bill

  • Gas Bill Telephone Bill (Landline)

  • Property Tax Receipt


Date of Birth Proof

Any one of the following:


  • Passport

  • PAN Card

  • Aadhaar Card with DOB

  • Driving License

  • Birth Certificate

  • SSC Marksheet


Signature Proof

Any one of the following:


  • Passport

  • PAN Card

  • Banker's verification

  • Notarized affidavit with ID & Address proof (not applicable for financial applicant)




Proof of Income


Any one of the following:


Salaried


  • 3 months pay slip

  • 6 months pay slip/2 yrs bonus proof (in case of variable pay)

  • 6 months bank statement showing salary credits

  • 2 yrs Form 16 (or employment continuity proof)

For NRI Salaried-

  • 3 month pay slip

  • Appointment letter/contract letter

  • Continuos Discharge Certificate for Shipping cases

  • 6 month Domestic NRE/NRO a/c statement

  • 6 month international salary a/c statement

  • Overseas credit report

  • Valid visa copy/OCI card

  • Passport copy

  • POA details

Self-employed


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

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

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

  • 6 months bank statements of personal and business accounts

  • If ITR is filed without digital sign - CPC and tax paid challan

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



For Balance Transfer / Takeover of Loan from other bank / financial institution

  • 12 months loan account statement with latest outstanding letter

  • Existing loan details and 6 months bank statement from where EMI is deducted



  • 6 months bank statement where rent is credited

  • Registered valid lease agreements

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

  • 1 yr 26 AS

  • If Partnership firm - Partnership deed, 2 yrs audited financials, operative account, KYC, partnership authority letter


For applicants who are Partners in a Firm / Directors in a CompanyLease Rental Discounting


Partner / Partnership Firm:

  • Partnership Deed, List of Partners, NOC as per Axis Bank format

  • Partnership firm's audited ITR along with complete financials

  • Partnership authority letter on letterhead of the Firm signed by all partners in case Firm to stand as guarantor


Director of a Company:


  • For the company - 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

  • Tax Audit Report (Where Gross Turnover Exceeds Rs 1 Cr or Gross Receipts exceeds 25 Lac)

  • Board Resolution (if Company is applicant) as per Axis bank format

  • Certificate of Incorporation, MOA and AOA

  • DIN of all Directors, Board Resolution if Company (as per Axis bank format)

  • Latest Share Holding Pattern duly signed by Company secretary/List of Directors


Other Important Documents and Checks

  • Completely filled and duly signed application form along with all applicants latest passport size photo

  • Aadhar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants

  • PAN card is mandatory for all financial applicants

  • Processing Fee and CERSAI cheques

  • Self-attestation of borrowers on all documents submitted


Documents to be submitted before loan disbursement

Documents

Checks & Controls

Loan Agreement and Annexures

  • Loan agreement as per product type

  • Annexures to be duly filled, signed & stamped as per state law:

    • MII (Most Important Information) pages

    • MCLR consent letter

    • Schedule of loan agreement

    • List of Documents (LOD)

    • Loan restriction letter (if any)

    • Disbursement request letter

    • For NRIs – franked GPA document

    • Indemnity for under construction cases in plot loans

  • 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)

  • NACH / SI mandate with a signed cancelled cheque with A/C holder's name as per bank records

  • SPDC - 3 undated security PDCs equivalent to EMI amount

  • 1 undated cheque with amount kept blank

  • 1 cheque towards PEMI amount

  • SPDC favoring "AXIS BANK LTD LOAN A/C Customer Name


Loan Cover/ Insurance Details



  • Property insurance application form (mandatory)

  • General insurance application form (if applicable)

  • Life insurance application form (if applicable)


Processing Fee / Equitable Mortgage cheques

  • Balance processing fee cheque (with clearance details)

  • Equitable mortgage charges / stamping charges favoring

  • "AXIS BANK LTD A/C SERVICE CHARGES"



Property Documents

Property documents as per type of transaction, according to bank's policy

For Balance Transfer / Takeover of loan from other bank / financial institution




  • Original list of documents from previous financer

  • Latest 12 months loan A/C statement with latest outstanding letter

  • Existing loan details and 6 months bank statement from where EMI is deducted

  • Indenture of guarantee, undertaking of indemnity, forwarding letter and Annexures in Axis Bank format



Own Contribution Receipts

  • Own contribution receipts

  • Bank statement reflecting debit of own contribution paid


Sanction Letter

  • Duly accepted and signed by all applicants / power of attorney

  • All sanction conditions to be met


TDS

  • If TDS is being paid by applicant – TDS challan & bank statement reflecting debit of TDS paid

  • If TDS is not paid by applicant – Undertaking cum indemnity to deduct TDS amount from disbursement


PSL Documents

  • Financial documents (any of the below):

    • Audited balance sheet

    • CA certificate – original investment in Plant & Machinery

    • Copy of invoice (investment in Plant & Machinery)


  • Additional documents (any of the below):

    • Audited / Unaudited (Profit & Loss Account)

    • GST registration certificate


  • For LAP cases – PSL Annexures


Other documents (to be collected if applicable)

  • Letter from customer towards opting for EMI in case of partly disbursed case

  • Vernacular/indemnity bond Dual name/dual sign affidavit

  • Credit Linked Subsidy Scheme (PMAY) affidavit

  • Amenities agreement duly signed by 3rd party/sellers

  • 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.

FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

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.

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).

Yes, you are eligible to get a home loan from Axis Bank. Moreover, you can check the eligibility from here.

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