Axis Bank Asha Home Loan Scheme

Axis Bank Asha Home Loan is a scheme designed for low-income customers who want to purchase or build a house. The maximum loan amount available through the Axis Bank Asha Home Loan Scheme is Rs. 35 lakh, and the interest rate starts from 8.70% per annum. Eligible candidates can secure the funds to purchase an under-construction, ready, resale, or self-constructed property. The bank also permits borrowers to use the funds for extending or renovating their existing homes, making it a more versatile financing option. Moreover, applicants can benefit from moderate eligibility criteria, minimal documentation, a hassle-free application process, and quick fund disbursement. Find out more about this affordable home loan below.

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
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Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Axis Bank Asha Home Loan – Features and Benefits

Following are the features and benefits of the Axis Bank Asha Home Loan Scheme:

  • Affordable interest rate
  • Get 12 EMIs waived off
  • Avail up to 90% of the property value
  • Available loan amounts start from ₹1 lakh.
  • Moderate eligibility criteria
  • Personalised loan solutions 

Interest Rates For Axis Bank Asha Home Loan

Following are the interest rates and other key factors you should be aware of before initiating your loan application:

Noun Parameter
Interest Rates 8.70% p.a. onwards
Loan Amount ₹1 lakh – ₹35 lakh
Loan Tenure Up to 30 years 
Eligibility A minimum income of ₹8,000 per month is required

Axis Bank Asha Home Loan Fees and Charges

Following are the expected fees and charges of Axis Bank Asha Home Loan Scheme:

Fee/Charge Amount
Processing fee Up to 1% of the loan amount 
Log in fee ₹10,000
Prepayment charges 2% on the amount paid (nil for floating rate of interest)
Late payment charges 24% p.a. on the overdue

instalment(s)

Cheque return/repayment instruction ₹500 /- per instance
Duplicate statement issuance charges ₹250 /- per instance
Issuance charges for photocopy of title documents ₹500 / – per document set
Cheque/instrument swap charges ₹500 /- per instance
Equitable mortgage creation charges As applicable in the state
Stamp duty & other statutory charges  As per applicable laws of the state

Axis Bank Asha Home Loan – Eligibility Criteria

Following are the required eligibility criteria for the Axis Bank Asha Home Loan Scheme:

  • You must be between 18 and 60 years old; self-employed applicants can extend up to 65 years old.
  • You must have a minimum salary/income of ₹8,000 per month.
  • You must have a good credit score and repayment history.
  • You must be an Indian citizen. 

Documents Required For Axis Bank Asha Home Loan

The following are the documents required to apply for an Axis Bank Asha Home Loan Scheme:

  • Proof of Identity: PAN Card (Mandatory), Aadhaar Card, Passport, or Driving License.
  • Proof of Address: Electricity Bill, Gas Bill, Property Tax Receipt, or Voter ID.
  • Proof of Income: Salaried applicants require 3 months’ salary slips, 6 months’ bank statements, and 2 years’ Form 16 (or employment continuity form). Self-employed applicants must submit their business proof, such as 1-year ITR, P&L, income computation, and balance sheet with a CA seal and sign.

Other Home Loan Schemes by Axis Bank

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