Axis Bank Home Loan Interest Rates

Interest Rates 2017 154 views

When it comes to availing a home loan from Axis Bank, it would not be wrong to say that interest rate is the first thing you should keep an eye on. Yes, the bank offers the same credit facility to all the borrowers at an interest rate ranging between 8.35%-8.75% per annum. Both salaried, as well as self-employed individuals, are eligible to apply for the loan and the rates offer to them vary according to the loan amount and home loan scheme. The home loan interest rates offered by the bank are fixed and floating and are linked to its 6 Month Marginal Cost of Lending Rate (MCLR) which is currently at 8.15% and the base rate at 9.15%.

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So to make you understand better below we have created the tables, showing schemes wise home loan interest rates of Axis Bank.

Axis Bank Home Loan Interest Rates for New Customers

Floating Rates 

Loan AmountInterest Rate for Salaried (in p.a.)Interest Rate for Self-employed (in p.a.)
Upto ₹30 lacsMCLR + Mark Up (0.20%), Effective Rate:8.35%MCLR +Mark Up( 0.25%), Effective Rate:8.40%
Upto ₹75 lacsMCLR + Mark Up (0.50%), Effective Rate: 8.65%MCLR +Mark Up( 0.55%), Effective Rate:8.70%
Above ₹75 lacsMCLR + Mark Up(0.55%), Effective Rate: 8.70%MCLR + MArk Up( 0.60%), Effective Rate:8.75%

Interest Rate of Asha Home Loan

BorrowersFloating Interest Rate (in p.a.)
Salaried customers
(Vanilla Variant)
MCLR + Mark Up(1.60%), Effective Rate:9.75%
Self Employed customers
(Vanilla Variant)
MCLR +Mark Up( 1.80%), Effective Rate:9.95%
Salaried customers
(All other variant)
MCLR + Mark Up(2.35%), Effective Rate:10.50%
Self-Employed
(All other variant )
MCLR +Mark Up( 2.35%), Effective Rate:10.50%

Interest Rate of Empower Home Loan 

Loan Amount (in ₹)Interest Rate (in p.a.)
All Loan AmountsMCLR + Mark Up (1.10%), Effective Rate:9.25%

Interest Rate of Happy Ending Home Loan 

Loan AmountFloating Interest Rate for Salaried (in p.a.)Floating Interest Rate for Self-employed (in p.a.)
Upto ₹30 lacsMCLR + Mark Up( 0.20%), Effective Rate:8.35%MCLR + Mark Up(0.25%), Effective Rate:8.40%
Upto ₹75 lacsMCLR + Mark Up(0.50%), Effective Rate:8.65%MCLR +Mark Up( 0.55%), Effective Rate:8.70%
Above ₹75 lacsMCLR + Mark Up(0.55%), Effective Rate:8.70%MCLR + Mark Up( 0.60%), Effective Rate:8.75%

Interest Rate of Super Saver Home Loan 

Loan AmountInterest Rate for All Customers (in p.a.)
₹50 Lakhs & aboveMCLR + Mark Up( 1.10), Effective Rate: 9.25%

Axis Bank Home Loan Balance Transfer Interest Rates

Lower your repayments by opting for home loan balance transfer. Yes, move your existing home loan’s outstanding balance to Axis and get ready to reap the benefits in the form of lower EMIs and Interest Outgo. If you opt for BT, the interest rates offered by the bank range between 8.35%-8.75% per annum. But, before offering the balance transfer facility to the borrowers, the bank do check the track-record and income of the borrower.

Axis Bank Home Loan Interest Rate Conversion for Existing Customers

Axis Bank offers the interest rate conversion facility to all its existing customers, wherein they can switch from their existing base system of (Base Rate/BPLR/MRR+/-spread) to the new system of 6 Month MCLR (MCLR+spread) without changing the effective rate of interest. Through this way, a borrower can enjoy the reduced EMIs as MCLR rates are comparatively lower.The effect of conversion in the system from existing to new will be provided on an immediate basis, without charging any fee for the same.

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