Axis Bank Home Loan, एक्सिस बैंक होम लोन, Axis Bank Home Loan Interest Rates, एक्सिस बैंक होम लोन की ब्याज दरें, Axis Bank Home Loan Interest, Axis Bank Home Loan Eligibility, Axis Bank Home Loan Credit Score, Axis Bank Home Loan Eligibility Criteria, एक्सिस बैंक होम लोन पात्रता, Axis Bank Home Loan Processing Fee, Axis Bank Home Loan EMI Calculator, Axis Bank Home Loan Documents, Axis Bank Home Loan CIBIL Score Requirements.
Axis Bank Limited It is an Indian banking and financial services company, Axis Bank provides various types of home loan to its customers, Axis Bank provides various types of home loan schemes to salaried and self-employed customers.
Axis Bank home loan offers you an opportunity to own a residential property and build a property, while availing tax benefits, you usually pay up to 20% of the cost of the property from your funds, the bank gives the remaining 80% in the form of a loan.
The Axis home loan amount can be repaid within a fixed period as per your convenience Both the loan amount and interest repayment are eligible for tax deduction under income tax laws Home loan application can be done at the bank branch , loan processing center or online.
Axis Bank Home Loan
Axis Bank offers quick and transparent home loans with quick sanctioning processes and easy repayment options, Axis Bank Home Loan offers its customers in two different rate packages which are floating rate and both fixed rate home loan options.
While the interest rate on floating rate loans can be varied over the loan tenure at the bank’s discretion, the bank offers fixed-rate home loans where the interest rate remains the same throughout the loan tenure, while the maximum tenure for floating rate home loans and fixed-rate home loans is 30 years and 20 years respectively.
Types of Axis Home Loans
Axis Bank offers Home Loans for various purposes apart from buying a house. Let’s take a look at some of the popular types of Axis Home Loans.
New Home Loans – These loans are available to individuals who are looking to purchase a property or home for the first time.
Pre-Approved Home Loans – Lending institutions evaluate the creditworthiness, financial status, and income of the borrower before offering these loans.
Home Purchase Loan – These loans are specifically designed for borrowers who are interested in purchasing a flat or a house.
Home Loans for Construction – If someone is looking to construct a home on land they already own, this loan option would be appropriate.
Home Loans for Renovation – If you’re a home owner looking to renovate, improve, or extend your existing home, you may be eligible for a home loan specifically designed for those purposes.
Plot Loan – These loans are ideal for customers who wish to purchase a plot or land for constructing a house.
Home Loan Top-up – The term “home loan top-up” refers to the option for customers to obtain an extra amount of funds on top of their current home loan.
Balance Transfer Home Loan – The balance transfer facility enables borrowers to transfer their home loans from one bank to another bank, providing them with an opportunity to enjoy lower interest rates.
Axis Bank Home Loan Eligibility Criteria
| Criteria of Eligibility | Salaried Applicants | Self-employed Applicants |
| Nationality | Resident of India | Resident of India |
| Minimum Age | 21 years | 21 years |
| Maximum Age | 57 years | 57 years |
| Work Experience/Business Continuity | Minimum of 2 years | Minimum of 3 years |
| Maximum loan | 10 crores | 10 crores |
Salaried or self-employed individuals are eligible for Axis Bank Home Loan, Applicant should have a clean track record for loan tenure- no arrears pending for 90 days and above, Arrears pending for 30 days and above in respect of any bank loan shall not exceed 3. No penalty charges or other charges shall be levied on the borrower,
Along with the Axis Bank home loan eligibility mentioned below, the lender may take into account the applicant’s credit score, monthly income, and EMI/NMI ratio to evaluate their eligibility for a home loan, Axis Home Loan Eligibility Criteria for Salaried or Self-Employed Individuals See below in detail.
For Salary – To apply for a home loan the applicant must have a permanent job in either a government or private sector organization, The applicant must also be at least 21 years old when the loan is initiated and a maximum of 60 years old or reach superannuation, whichever comes first, at the time of loan maturity.
For Professionals – If you are a professional such as a doctor, dentist, architect, engineer, cost accountant, company secretary, chartered accountant, or management consultant, you may be eligible to apply for home loan from Axis Bank, The applicant must be at least 21 years old when initiating the home loan application and no more than 65 years old at the time of loan maturity.
For Self-Employed – To apply for Axis Bank Home Loan, an individual must file income tax returns and meet certain age requirements. The applicant must be at least 21 years old when the home loan is originated and no older than 65 years at the time of loan maturity.
Eligibility for Axis Bank Top-Up Home Loan – If you are an NRI or Resident Indian you can apply for Top-Up Loans, However, before applying, you must have completed 6 months of clear repayment for your existing Home Loan and should not have more than 1 EMI bounce in the last year, If you want to transfer your Balance for Top-Up Loan you must have a clear repayment history of 1 year, Additionally the property should be fully residential and there should not be any pending post disbursal documentation, For NRI borrowers, the property must be owned by the borrower alone or jointly.
Axis Bank Home Loan Documents Required
When it comes to home loans, Axis Bank offers a variety of schemes to choose from, Their home loans come with exceptional features and favorable interest rates, making it easier for you to achieve your dream of owning your own home.
When applying for a home loan from Axis Bank, it is important to submit the necessary documents which are straightforward and easy to provide, These documents serve as proof of your financial stability and creditworthiness, and are carefully reviewed as part of the loan approval process.
When applying for a home loan with Axis Bank, submitting the necessary documents is crucial, Axis Bank places great importance on this process. However, applicants often struggle with knowing exactly which documents are required.
At Axis Bank we strive to make the process of obtaining a home loan as streamlined and transparent as possible, To ensure your application is successful, we have listed below the required documents for your home loan application.
Identity Proof
- Passport
- Aadhaar Card
- Voter ID
- Driving License
- Government Employee ID
- GOI issued Photo ID
Address Proof
- Aadhaar card
- Driving license
- Voter ID
- Electricity Bill
- Govt. Employee ID
- GOI Issued Photo ID
- Landline Telephone Bill
Proof of Date of Birth
- Passport
- Aadhaar Card
- PAN Card
- Birth Certificate
- Driving License
- Mark sheet of SSC
Proof of Signature
- PAN Card
- Passport
- Banker’s Verification
Income Proof for Salaried
- Salary slips of the last 3 months
- Pay slips of the last 6 months/ Bonus proof of last 2 years (for variable pay)
- Bank statement of the last 6 months
- Form 16 of the last 2 years
Income Proof for NRIs
- Salary slips of last 3 months
- Contract/Appointment letter
- Domestic NRE account statement of last 6 months
- International salary account statement for last 6 months
- POA details
- Copy of Passport
For self-employed
- Income Tax Returns of last 2 years, Income computation, Balance sheet
- Report of Tax Audit
- Proof of business continuity for the last 3 years
- Business and personal bank account statements of last 6 months
Axis Home Loan Documents Before loan disbursement Checks Here
Axis Bank Home Loan & Loan Against Property Documents Checks Here
CIBIL Score Eligibility for Axis Bank Home Loan
When applying for a home loan from Axis Bank, they take into account whether you are salaried or self-employed, your income, existing loans, and credit score, Your credit score is especially important, as it reflects how likely you are to repay the loan, and is given significant weight by lenders when evaluating home loan applications.
When applying for a loan, your credit score could potentially influence the interest rate you receive or even impact whether your application is approved or denied, However it’s difficult to determine the specific weight a bank places on your credit score since it varies based on their internal risk and lending policies.
To be eligible for personal loans from Axis Bank, applicants must have a minimum CIBIL™ score of 750, However, individuals with a credit score between 750 and 600 are still eligible to apply, Those with a score below 600 are considered high risk by the bank, and their loan application may be rejected.
Your credit score is a number ranging from 300 to 900, Surprisingly, the lower your score, the higher your chances of getting approved for a home loan! If you’re curious about your credit score, Click Here on the “Know Credit Score” button, On the other hand, if your credit score is higher, you may be eligible for a larger loan amount or even lower loan rates.
Axis Bank Home Loan EMI Calculator
Axis Bank home loans have enabled many individuals and families to own their dream home without any financial hassles, Many prospective home loan borrowers are confused about the home loan amount and EMI tenure, they can solve their queries by calculating the EMI if they opt for a particular amount of home loan.
Axis Bank offers a wide range of calculators from loans to deposits, from calculating your personal loan EMI, to checking your home loan affordability, Click Here Axis Bank offers you a whole host of calculators to help you make the right decision, As you begin the journey to fulfill your dreams with a new home, the calculator will help you better understand the costs.
Axis Bank Home Loans Processing Fee & Charges
When you apply for an Axis Bank home loan, it is one of the most crucial financial decisions of your life. With so many home loan products and so much convenience, You can get a home loan from Axis Bank very easily, but, like any other loan, you have to pay a one-time upfront fee known as processing fee.
Axis Bank charges customers a processing fee of 1% of the sanctioned home loan amount. The minimum one-time home loan processing fee payable to the bank is Rs. 10,000. Apart from that, additional applicable mandatory tax components are also payable, Fees and charges levied by Axis Bank for home loan are fully transparent and upfront, Click Here or read in detail about fees and charges applicable to home loans mentioned below.
| Schemes of Axis Bank Home Loans | Applicable processing Fees |
| Axis Bank Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST is chargeable upfront during the application login. |
| Axis Bank Asha Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST are the upfront charges during the application login. |
| Axis Bank Quick Pay Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST would be charged at the time of logging in the application |
| Axis Bank Power Advantage Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST is charged by the bank upfront during the logging in of the application |
| Axis Bank Fast Forward Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST would be charged upfront during the application login. |
| Axis Bank Shubh Aarambh Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST would be charged upfront when the application is logged in by the bank’s home loan department. |
| Axis Bank Super Saver Home Loan | 1% of the sanctioned home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST would be charged during the application login. |
| Axis Bank Empower Home Loan | 1% of the home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST is chargeable upfront during the application login. |
| Axis Bank Top-Up Home Loan | 1% of the home loan amount (minimum of Rs. 10,000) Rs. 5,000 +GST would be charged upfront during the application login. |
Axis Bank Home Loan Interest Rates
At Axis Bank customers can choose from various home loan schemes with different interest rates, The interest rate for the home loan depends on the scheme selected by the customer, Axis Bank Home Loan offers two rate packages for home loans floating rate and fixed rate, providing customers with multiple options.
While the interest rate on floating rate loans can vary over the loan tenure at the bank’s discretion, the bank offers fixed-rate home loans where the interest rate remains the same throughout the loan tenure.
If you’re considering a home loan with Axis Bank, it’s important to note that they offer both fixed and floating interest rate options. The fixed interest rate starts at 12% per annum, while the floating rate starts at 6.90% per annum. It’s worth noting that the maximum tenure for floating rate loans is 30 years, while fixed-rate loans have a maximum tenure of 20 years.
Axis Bank Home Loan Interest Rate For Salaried Individuals
| Type | Repo Rate + Spread | Effective Rate of Interest |
|---|---|---|
| Floating Rate | Repo Rate + 2.50% to Repo Rate + 2.90% | 9.00% – 9.40% p.a. |
| Fixed Rate | All Loan Amounts | 14% p.a. |
Axis Home Loan Interest Rate For Self Employed Individuals
| Type | Repo Rate + Spread | Effective Rate of Interest |
|---|---|---|
| Floating Rate | Repo Rate + 2.60% to Repo Rate + 2.90% | 9.10% – 9.40% p.a. |
| Fixed Rate | All Loan Amounts | 14% p.a. |
NOTE – Axis Bank Home Loan rates vary according to the bank’s discretion, the information given here is only the current interest rates given by Axis Bank, when you want to take a Home Loan in the bank, you should visit https://www.axisbank.com/retail/loans/home-loan/axis-bank-home-loan/interest-rates-charges the bank’s official website and confirm.