Axis Bank Home Loan for Construction

Axis Bank offers construction loans to individuals and businesses looking to build or renovate their properties. These loans provide the necessary funds to cover the expenses associated with construction, including materials, labour, and related costs. The bank provides flexible repayment options and competitive interest rates to suit the needs of borrowers. Whether you are constructing a residential or commercial property, Axis Bank's construction loans can help bring your vision to life.

Axis Bank Home Construction Loan Highlights

Axis Bank Construction Loan Interest Rates

Discover the current interest rates for Axis construction loans and explore essential parameters defining an Axis Bank home construction loan:

Axis Construction Loan Fees and Charges

Let’s review the fees and charges linked to the Axis Bank home construction loan:

Axis Construction Loan Eligibility Criteria for Salaried

Mentioned below are the eligibility criteria for an Axis Bank construction loan for salaried individuals:

• Individuals with permanent service with a government or reputable private establishment.
• Individuals should be between the ages of 21 and 60

Axis Construction Loan Eligibility Criteria for Self-employed

Mentioned below are the eligibility criteria for an Axis Bank construction loan for self-employed individuals:

• Individuals must be between the ages of 21 and 65
• Any individual filling income tax return is eligible
• Professionals such as Doctors, lawyers, Architects, Dentists, etc.

Axis Construction Loan Documents Required for Salaried Individuals

The following are the required documents for Axis Bank home construction loans, applicable to salaried employees:

• Proof of Identity: PAN Card (mandatory), Aadhaar Card, Driving license, or Passport.  
• Duly Filled Application form
• Proof of Address: Utility Bills, Voter ID Card, or Ration Card.
• Proof of Income: Salary slips for the past three months, bank statements for the last six months, and the latest Form-16 and income tax returns.
• Proof of Property: Non-encumbrance certificate on the property, title deeds of the plot, a copy of the plans duly approved by the local authorities, and a construction estimate prepared by an architect/civil engineer.

Axis Construction Loan Documents Required for Self-Employed

For self-employed individuals seeking Axis Bank construction loans, specific documents are required. These include proof of identity such as a PAN Card, Aadhaar Card, Driving license, or Passport, along with a duly filled application form. Proof of address entails utility bills, a Voter ID Card, or a Ration Card. Proof of income necessitates balance sheets, profit & loss account statements for the past two years, bank statements covering the last 12 months, and income tax returns with income computation for at least the last two assessment years. Additionally, proof of property involves a non-encumbrance certificate, title deeds of the plot, approved copies of plans from local authorities, and a construction estimate prepared by an architect/civil engineer.

Features of Axis Construction Loans

The Axis Bank home construction loan comes loaded with many benefits and features. A standout few have been discussed below:

• Easily choose between  fixed or floating interest rates
• No prepayment charges
• Unparalleled interest rates 
• Hassle-free application process
• Door-step service