Axis Bank Loan Against Property Interest Rates 2016

Loan Against Property

Axis Bank Loan Against Property is offering higher loan amount with low interest rate facility of starting from 9.50% p.a. The longer tenure period of the loan and speedy approval makes it altogether for a customers to use their own property as their assets. The minimum amount of loan against property is Rs 2,00,000/- and the maximum is up to Rs 5,00,00,000/-.

Axis Bank Loan Against Property Details

ParticularsDetails
Interest Rates9.50% onwards
Minimum AmountRs. 2,00,000/-
Maximum AmountRs. 5,00,00,000/- 
TenureUp to 15 years
Processing Fee1% of the loan amount
Processing TimeUp to 30 days

How to Apply For Axis Bank Loan Against Property?

The procedure to apply for loan against property at Axis Bank is very simple. All you have to do is submit the filled application form along with the KYC and the property details on which you are taking loan. The documents provided to the bank must be genuine and match with the originals.

Axis Bank Loan Against Property EMI Calculator

To know the monthly installments that you need to pay every month, you can use EMI (Equated Monthly Installment) calculator. You just need to mention the loan amount, the interest rate and the tenure period to get the resulted EMI. For eg. If your loan amount for the tenure of 15 years is Rs. 2,00,000/- on an interest rate of 9.50%, the EMI per month comes out to be Rs. 2,088/-. To know the EMIs of each month for the tenure period of 15 years, see the below given table.

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Table for EMI per month, Total Interest Outgo and Total Amount

Loan AmountLoan TenureInterest Rate (p.a.)EMITotal Interest OutgoTotal Amount (EMI+Interest)
Rs. 2,00,0001 year9.50%Rs. 17,537Rs. 10,440Rs. 2,10,440
Rs. 2,00,0002 years9.50%Rs. 9,183Rs. 20,390Rs. 2,20,390
Rs. 2,00,0003 years9.50%Rs. 6,407Rs. 30,637Rs. 2,30,637
Rs. 2,00,0004 years9.50%Rs. 5,025Rs. 41,182Rs. 2,41,182
Rs. 2,00,0005 years9.50%Rs. 4,200Rs. 52,022Rs. 2,52,022
Rs. 2,00,0006 years9.50%Rs. 3,655Rs. 63,156Rs. 2,63,156
Rs. 2,00,0007 years9.50%Rs. 3,269Rs. 74,579Rs. 2,74,579
Rs. 2,00,0008 years9.50%Rs. 2,982Rs. 86,289Rs. 2,86,289
Rs. 2,00,0009 years9.50%Rs. 2,762Rs. 98,282Rs. 2,98,282
Rs. 2,00,00010 years9.50%Rs. 2,588Rs. 1,10,554Rs. 3,10,554
Rs. 2,00,00011 years9.50%Rs. 2,448Rs. 1,23,100Rs. 3,23,100
Rs. 2,00,00012 years9.50%Rs. 2,333Rs. 1,35,915Rs. 3,35,915
Rs. 2,00,00013 years9.50%Rs. 2,237Rs. 1,48,995Rs. 3,48,995
Rs. 2,00,00014 years9.50%Rs. 2,157Rs. 1,62,332Rs. 3,62,332
Rs. 2,00,00015 years9.50%Rs. 2,088Rs. 1,75,921Rs. 3,75,921

Amortization Table

YearPrincipal PaymentInterest OutgoBalance Amount
1Rs. 6,328Rs. 18,728Rs. 193,672
2Rs. 6,956Rs. 18,100Rs. 186,716
3Rs. 7,645Rs. 17,411Rs. 179,071
4Rs. 8,403Rs. 16,653Rs. 170,668
5Rs. 9,241Rs. 15,815Rs. 161,427
6Rs. 10,154Rs. 14,902Rs. 151,273
7Rs. 11,162Rs. 13,894Rs. 140,111
8Rs. 12,270Rs. 12,786Rs. 127,841
9Rs. 13,487Rs. 11,569Rs. 114,354
10Rs. 14,828Rs. 10,228Rs. 99,526
11Rs. 16,299Rs. 8,757Rs. 83,227
12Rs. 17,915Rs. 7,141Rs. 65,312
13Rs. 19,693Rs. 5,363Rs. 45,619
14Rs. 21,649Rs. 3,407Rs. 23,970
15Rs. 23,988Rs. 1,259Rs. 0
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Axis Bank Loan Against Property Eligibility Criteria

Axis Bank loan against property ca be availed by salaried as well as self-employed individuals. The individuals who are eligible to get Axis bank loan against property are:

For salaried individuals:

  • Individuals with permanent job in government or in reputed company
  • Applicant should be above 24 years of age

For self-employed individuals/professionals:

  • Any individual filing Income Tax returns can apply
  • Applicant must be above 24 years up to 65 years

Axis Bank Loan Against Property Documents Required

The list of documents that you need to submit at the time of loan agreement are as follows:

For salaried individuals:

  • Identity proof (any one) 

     

     

     

     

    • Voter ID card
    • Driving license
    • PAN card
    • Photo credit card
    • Employee ID card
    • Government department ID card)
  • Income proof

     

     

     

     

    • Latest salary slip or Form 16
    • Recent salary slip certificate
    • last 6 months bank statements/passbook with salary transaction details
  • Residence proof (any one)

     

     

     

     

    • Bank account statement
    • Latest electricity bill
    • Latest mobile/telephone bill
    • Latest credit card statement
    • Latest LIC policy/insurance premium receipt
    • Employers letter certifying the current mailing address
    • Lates NSC
    • Other document mentioning address
  • Guarantor form (optional)
  • Copy of lease agreement

For other applicants:

  • Identity proof (any one) 

     

     

     

     

    • Voter ID card
    • Driving license
    • PAN card
    • Photo credit card
  • Income proof

     

     

     

     

    • ITR returns for last 2 years
    • Computation of income for last 2 years
    • Last 6 months bank statement/passbook
  • Residence proof

     

     

     

     

    • Bank statement
    • Latest electricty bill
    • Latest mobile/telephone bill
    • Latest credit card statement
    • Latest LIC policy/insurance premium receipt
    • Employers letter certifying the current mailing address
    • Lates NSC
    • Other document mentioning address
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Axis Bank Loan Against Property Application Form

You need to fill in the below-given details in the application form:

  • Personal details
  • Property details
  • Address details
  • Professional details

Benefits & Features of Axis Bank Loan Against Property

  • Loan against commercial/residential property
  • Attractive interest rates starting from 9.5%
  • Loan transfer facility
  • Doorstep service
  • Lease rental discount available
  • eDGE loyalty reward points

Axis Bank Loan Against Property Interest Rates

Axis Bank has come up with attractive interest rates starting from 9.5% p.a on loan against property with tenure period of 15 years. The processing fees of the loan is 1% of the loan amount.

Axis Bank Loan Against Property Processing Fees

The processing fees of the Axis Bank loan against property is only 1% of the loan amount.