Axis Bank Home Loan

4.5

Axis Bank Home Loan makes your dream of owning a house a reality. The Axis Bank Home loan has been boosted with many facilities like an easy application process, alluring interest, doorstep service, and smaller EMIs where you can space out your payment over the long term. Moreover, there aren’t any prepayment charges.

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Axis Bank Home Loan

  • Interest Rate

    8.7% - 13.3%

  • Loan Amount

    ₹1L - ₹5Cr

  • EMI Per Lakh

    ₹2,061 - ₹2,291

  • Processing Fees

    0.50%(Min ₹10,000)one time fee
  • Pre-Payment Charges

    0 - 2%

Plan Offered

Term Loan

Showing Data for CIBIL Score 750 - 1000

Axis Bank Home Loan

  • CIBIL: 750 - 1000

Axis Bank Home Loan

CIBIL: 750 - 1000

CIBIL Score range

  • CIBIL: 750 - 1000

Showing Data for CIBIL Score 750 - 1000

  • Salaried
  • Self-Employed (Non-Professional)
  • Self-Employed
Loan AmountLoan TypeMen (ROI)Women (ROI)
Upto 5 CrNew8.70%8.70%
  • Salaried
  • Self-Employed (Non-Professional)
  • Self-Employed
CityLoan AmountLoan TypeMen (ROI)Women (ROI)
MumbaiUpto 5 CrNew8.70%8.70%
PuneUpto 5 CrNew8.70%8.70%
Kalyan-DombivaliUpto 5 CrNew8.70%8.70%
Navi MumbaiUpto 5 CrNew8.70%8.70%
Pimpri-ChinchwadUpto 5 CrNew8.70%8.70%
ThaneUpto 5 CrNew8.70%8.70%
Vasai-VirarUpto 5 CrNew8.70%8.70%

Last updated on: 18, Jun 2024

Gross Professional Receipt

Showing Data for CIBIL Score 750 - 1000

Axis Bank GPR Home Loan

  • CIBIL: 750 - 1000

Axis Bank GPR Home Loan

CIBIL: 750 - 1000

CIBIL Score range

  • CIBIL: 750 - 1000

Showing Data for CIBIL Score 750 - 1000

  • Self-Employed (Non-Professional)
  • Self-Employed
Loan AmountLoan TypeMen (ROI)Women (ROI)
Upto 5 CrNew8.80%8.80%
  • Self-Employed (Non-Professional)
  • Self-Employed
CityLoan AmountLoan TypeMen (ROI)Women (ROI)
MumbaiUpto 5 CrNew8.80%8.80%

Last updated on: 18, Jun 2024

ABB

Showing Data for CIBIL Score 750 - 1000

Axis Bank ABB Home Loan

  • CIBIL: 750 - 1000

Axis Bank ABB Home Loan

CIBIL: 750 - 1000

CIBIL Score range

  • CIBIL: 750 - 1000

Showing Data for CIBIL Score 750 - 1000

  • Self-Employed (Non-Professional)
  • Self-Employed
Loan AmountLoan TypeMen (ROI)Women (ROI)
Upto 5 CrNew8.80%8.80%
  • Self-Employed (Non-Professional)
  • Self-Employed
CityLoan AmountLoan TypeMen (ROI)Women (ROI)
MumbaiUpto 5 CrNew8.80%8.80%
PuneUpto 5 CrNew8.80%8.80%
Kalyan-DombivaliUpto 5 CrNew8.80%8.80%
Navi MumbaiUpto 5 CrNew8.80%8.80%
Pimpri-ChinchwadUpto 5 CrNew8.80%8.80%
ThaneUpto 5 CrNew8.80%8.80%
Vasai-VirarUpto 5 CrNew8.80%8.80%

Last updated on: 18, Jun 2024

Features & Benefits of Axis Bank Home Loan

Looking for a flexible, efficient, and reliable way to finance your dream home? Apply for an Axis Bank home loan designed to turn your dreams into reality. Here's why:

  • Versatile Home Loan Options: From buying a new home and constructing your dream house to refurbishing your current dwelling - whatever your housing need, there's an Axis Bank home loan.
  • High Quantum of Financing: No dream is too big. Axis Bank offers high-value loans, allowing you to finance your dream home without compromising.
  • Flexible Tenure: Stress less about repayments! Choose a repayment tenure that suits your financial planning, extending up to several years.
  • Competitive Axis Bank Home Loan Interest Rate: Get the best value for your money. Enjoy competitive interest rates on your home loan - choose from fixed or floating rates based on your comfort.
  • Balance Transfer Facility: Not satisfied with your current home loan provider? Switch to Axis Bank and enjoy superior services along with the benefit of competitive interest rates.

Axis Bank Home Loan - An Overview

Dream big and let Axis Bank make them come true! Apply for a home loan from Axis Bank to move into your dream house faster than you ever thought possible. Your needs are met by a variety of home loan alternatives from Axis Bank.

You will receive the most value for your money thanks to the competitive Axis Bank home loan interest rates. Our adaptable repayment options ensure that you maintain control over your finances, whether you're purchasing a new home, building one, or expanding your existing one.

But there's more! Considering changing from your existing loan provider? Utilise our convenient loan balance transfer facility. Why then wait? Get ready to open the door to your dream home by submitting an application for an Axis Bank home loan right away.

Axis Bank Home Loan Fees and Charges

Applying for an Axis Bank Home Loan? Here are the fees and charges that you will need to adhere to. 

Particulars Applicable charges (exclusive of GST)
Processing Fees Up to 1% of the loan amount, subject to a minimum of Rs. 10,000
Prepayment fees, including a partial prepayment for a loan with a fluctuating rate Nil
Charges for a fixed-rate loan's prepayment 2% of the principal outstanding
Penal Interest Rate 24% per annum, 2% per month
Switching Fees (Base Rate/BPLR to MCLR) When the effective rate is to be kept the same – No fees When an effective rate is to be revised – 0.5% on the outstanding principal, with a minimum of Rs. 10,000
Switching Fees (Floating Rate to Fixed Rate) 1% on the outstanding principal with a minimum of 10,000/-
Switching Fees (Fixed Rate to Floating Rate) 2% on the outstanding principal amount
Repayment Instruction/Cheque Return Charges Rs. 500 per instance
Cheque/Instrument Swap Charges Rs. 500 per instance
Duplicate Statement Issuance Charges Rs. 250 per instance
Duplicate Amortization Schedule Issuance Charges Rs. 250 per instance
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges Rs. 250 per instance
CERSAI charges For loans up to Rs. 5 lakh – Rs. 50 For loans above Rs. 5 lakh – Rs. 100
Loan Cover/ Insurance Compulsory

Documents Required for Axis Bank Home Loan

To validate your eligibility and expedite your loan approval process, here are the documents you need to prepare:

  • Identity Proof: This could be your Aadhar Card, PAN Card, Passport, or Driving License.
  • Address Proof: Documents like Electricity Bills, Telephone bills, and Ration cards can be submitted as proof of residence.
  • Income Proof: For salaried individuals, this includes your last three months' salary slips, Form 16, and bank statements for the last six months. Self-employed individuals must provide their Income Tax Returns for the last three years and bank statements of the last six months.
  • Property Documents: You must provide documents related to the property you intend to purchase. These include the Sale Deed, Agreement to Sell, and the NOC from the builder or society, among other things.

How Does the EMI Calculation Works for Axis Bank Home Loan?

Understanding how Equated Monthly Installments (EMIs) are calculated for your home loan can help you better plan your budget and manage your finances. When you take out a home loan from a company like Axis Bank, the repayment is usually done as EMIs. Here's a simple explanation of how EMI calculation works:

First, let's define an EMI. An EMI, or Equated Monthly Installment, is a fixed amount of money you must pay to the lender every month until the loan is fully repaid. The EMI consists of the principal amount (the actual loan amount) and the interest on the loan.

The EMI calculation formula used by most banks and financial institutions, including Axis Bank, is as follows:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

In this formula,

  • P stands for the principal or the amount that you have borrowed.
  • R is the rate of interest divided by 12 (for monthly interest) and further divided by 100 (to convert it into a decimal figure).
  • N is the tenure of the loan, i.e., the total number of months in which you plan to repay the loan.

Let's say you've borrowed Rs. 10,00,000 at an annual interest rate of 8% and plan to repay the loan over a period of 20 years (or 240 months). Here's how the EMI would be calculated:

  • P = Rs. 10,00,000
  • R = (8/12)/100 = 0.00667
  • N = 240

By plugging these values into the EMI formula, your monthly EMI would be approximately Rs. 8,364. 

Balance Transfer Axis Bank Home Loan

A balance transfer of a home loan is a service that allows you to transfer the outstanding principal amount of your existing home loan from one lender to another. The primary reason for this is usually to take advantage of lower interest rates offered by the new lender.

Don't miss to Check: Home Loan Balance Transfer Calculator

How does Axis Bank Home Loan Balance Transfer Work?

First, inform your current lender about your intent to switch to Axis Bank. Once they consent, they will issue a consent letter, a No Objection Certificate (NOC), and a statement specifying the outstanding amount.

After you submit this to Axis Bank, they will review your application, do the necessary credit appraisals, and if found satisfactory, they will sanction your loan. Post this; Axis Bank will pay the outstanding amount to your current lender. Once that's done, your home loan will be transferred to Axis Bank, and your further EMIs will go to them instead of your previous lender. 

Axis Bank Home Loan Customer Care Number

Customer Care Details Contact
Toll-Free Number 1 - 860 - 419 - 5555
Service Queries Number 1 - 860 - 500- 5555
Address Axis Bank Limited, ‘Axis House’, C-2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400 025

FAQs

From refinancing to reducing your interest, we have the answers right here.

Does Axis Bank provide home loans at the best rates?

Yes, Axis Bank offers home loans with low-interest rates starting at 8.1 percent.

What is the interest rate on Axis Bank home loans?

For salaried employees, Axis Bank offers home loans at an interest rate starting from 8.1 percent. For self-employed individuals, the interest rate starts from 8.1%.

Does Axis Bank check the CIBIL score for a home loan?

Yes, Axis Bank takes the CIBIL score into consideration for determining the eligibility of and the interest rate that can be offered to the loan applicant.

What is the minimum home loan amount I can get from Axis Bank?

At a minimum, you can avail of a home loan amount of INR 3 lakhs.

Can I take two home loans at a time?

Yes, you can take two home loans at a time, as the government has not specified any rules for the same.

When does the loan repayment period start?

The loan repayment period starts the very next month on the specified date when your requested amount gets disbursed in the associated loan account.

Does Axis Bank have a fixed rate of interest on a home loan?

Axis Bank offers floating as well as fixed interest rates on home loans.

What is Pre-EMI Interest?

A Pre-EMI interest is an interest on a loan amount disbursed by the bank. It is payable every month. It includes the initial date of the loan amount disbursement to the commencement date of the EMIs payment.

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