Willing to buy your dream home, but don't know from where to get the funds for the same? Confused which bank is best when it comes to availing the home loan? Well, if you have all these queries, we have an answer for you. That's right! Axis Bank Home Loan, converting your dreams into reality. Yes, the bank with its best of home loan product ensures to meet your requirements and helps you in realizing your dream home wish. Flexible repayment options, higher loan amount, lowest interest rates and a wide variety of home loan schemes to choose from, Axis Bank won't disappoint you. The loan offered by this lender comes to you with enormous benefits and features, so what are you waiting for? Lets' understand this product in detail. 

Purposes 

  • For Purchasing a new house

  • For Constructing a new house on an acquired plot

  • For doing expansion(incremental upgrade) in their existing house

  • For making improvement & Renovation of their existing house.

Axis Bank Home Loan Interest Rate

Particulars

Details

Interest Rate

8.35%-8.75% per annum

Processing Fee

Up to 1% of the loan amount + GST

Loan Amount

Above ₹1 Lakh

Tenure

Up to 30 Years

Switching Fees

1%-2% on the outstanding principal amount + GST

Prepayment Charges for floating rate loan

0%

Prepayment Charges for fixed rate loan

2% of the principal outstanding + GST

Features & Benefits of Axis Bank Home Loan

Avail Competitive Interest Rates: Now you can make your home loan highly affordable by availing the lowest interest rates offered by Axis Bank. Yes, the various home loan schemes offered by the bank are lighter on your pocket, thus less burden will be on you every month.

Pick Your Interest Rate: The home loan borrowers can choose their rate of interest as per their preference. The applicants can either go for fixed or floating rates, as bank offers home loan on both these applicable rates.

Go for Balance Transfer with Ease: If you want to reap the maximum benefits by making your existing home loan rates cheaper, with Axis Bank you can also go for balance transfer. By doing so, you can transfer your existing loan balance to Axis and get lower interest rates than your previous lender, and that too without any hassle.

Avail Doorstep Service: Axis Bank offers best services to all its esteemed customers and ensures that they have an enjoyable loan journey. Right from availing a loan or to repay the same, the bank gives doorstep service so that you can do the same either sitting at your home or workplace.

No Prepayment Charges: At Axis Bank, home loans availed on floating interest rates come to you with no prepayment charges. Yes, that's absolutely right! If you pay off your loan before its due date, no prepayment charges for you.

Flexible Repayment of Loan: The bank gives you the flexibility, wherein you can repay your home loans by opting for longer tenures i.e. up to 30 years. Well, this also means your EMI burden will be reduced, hence it will be easy on your wallet each month.

Earn eDGE Loyalty Points: When you avail a home loan from Axis Bank, you can also earn loyalty points for the same. Starting from 500 points to a maximum of upto 2000 points can be availed by a borrower, starting from loan disbursal to completion. The points vary according to the disbursed loan amount.

Types of Axis Bank Home Loan

Axis Bank Home Loan

For all salaried, self-employed individuals and professional, Axis Bank offers special home loan scheme, where they can get maximum benefits without much of a duo. The applicants need to be above 21 years of age at the time of loan commencement and upto 65 years or less at the time of maturity. This loan comes to you for a maximum tenure of 30 years, thus reducing your EMI burden each month. The borrowers can avail the minimum loan of ₹3 Lakh and maximum depending upon the combined income of the applicants. The best thing about this scheme is the fact that it has Nil prepayment charges on floating rate loans along with a processing fee of 1%.

Asha Home Loan

If you are falling short of eligibility, this home loan scheme is for you. Salaried, professionals and self-employed individuals can avail this loan with a combined monthly income of ₹8,000-10,000 for upto 30 years. The loan amount offered under this scheme ranges between ₹1,00,000-28,00,000. It comes to you with Nil prepayment charges on floating rate and 2% of outstanding principal on fixed rate loans respectively. Not only this in fact, under this scheme, you can avail upto 85% property value loan, isn't it amazing?

Empower Home Loan

This home loan scheme offers you many unmatched benefits and privileges such as it comes to you with no prepayment charges on early closure of loan. That's right! The loan amount offered to the borrowers ranges between ₹10,00,000-1,50,00,000 at a floating interest rate for 15 years. You also need to pay a one-time processing fee of upto 1% of the loan amount. The USP of this scheme is its 3 guaranteed rate reductions if you maintain a good repayment record for 24,36 and 60 months on your home loan EMIs.

Axis Bank Home Loan Eligibility

If you are salaried, self-employed individual and self-employed professional, Axis Bank home loan is for you. To know the eligibility of the same, kindly read below.

Salaried Individuals:

  • If you are into permanent services in any Government or renowned company, you are eligible to avail the loan.

  • The age of the applicant should be 21 years at the time of loan commencement and upto 60 years at the time of loan maturity.

Self-employed Professionals:

  • Self-employed professionals such as doctors, engineers, dentists, architects, CA, management consultant, cost accountants and company secretary can apply for Axis Bank home loan.

  • The applicant should be 21 years of age at the time of loan commencement and upto 65 years or less at the time of loan maturity.

Self-employed Individuals:

  • Your minimum age should be 21 years at the time of loan commencement and upto 65 years or less at the time of loan maturity.

  • Self-employed individuals filling income tax return (ITR) are eligible to apply for a home loan.

Axis Bank Home Loan EMI Calculator

Before availing the home loan, it is important to know the EMIs of the same as it helps you in planning the monthly budget accordingly. Yes, knowing your EMIs that you need to pay each month towards your home loan gives you more clarity as how much amount goes out from your pocket each month to repay the same. If you don't know how to calculate your home loan EMIs, nothing to worry because Axis Bank Home Loan EMI Calculator will do the work for you. It gives you the exact calculations of your EMIs, interest outgo and total amount payable from your pocket towards your loan. In order to know the same values, you just need to enter the loan amount, tenure and interest rate of your home loan, the rest will be taken care by this smart and time-saving tool.

Documentation Required for Axis Bank Home Loan

To avail a home loan with this bank, you need to keep your documents ready along with your loan application. Read below to know about the required documentation for the home loan.

Documents Required

Salaried

Self-employed

Identity Proof

Valid Passport/Voter's ID/Driving License/PAN Card/Aadhar Card with Photograph

Valid Passport/Voter's ID/Driving License/PAN Card/Aadhar Card with Photograph

Income Proof

Latest 3 months salary slips/Certificate for fixed salary/Latest Form 16

Last 6 months Bank Statement/Passbook of the Salary Account

IT returns for the last 2 years and computation of income for the last 2 years certified by a CA

Last 6 months Bank Statement for operative account both personal and business

Residence Proof

Latest Electricity Bill/Utility Bill/Piped Gas Bill/Telephone Bill/Passport/Registered Lease Agreement with a utility bill in the name of landlord

Latest Electricity Bill/Utility Bill/Piped Gas Bill/Telephone Bill/Passport/Registered Lease Agreement with a utility bill in the name of landlord