Axis Bank Home Loans are affordable, flexible and easy-to-apply. Axis Bank Home Loan interest rates starts at 8.10% per annum. Axis Bank Housing Loan also offers extended loan tenures and EMI waivers.
Take a look at the Axis Bank Home Loan interest rates for different home loans they offer:
Loan |
Interest Rate |
Loan Amount |
Maximum Loan tenure |
Axis Bank Home Loan |
For Salaried: 8.10% – 8.45% For Self-employed: 8.20% – 8.55%
|
Rs. 3 Lakhs – Rs. 5 Crores |
30 years |
QuikPay Home Loan |
8.20% onwards |
Up to Rs. 5 Crores |
30 years |
Shubh Aarambh Home Loan |
8.20% onwards |
Up to Rs. 30 Lakhs |
30 years |
Fast Forward Home Loan |
8.20% onwards |
Rs. 30 Lakhs – Rs. 5 Crores |
30 years |
Asha Home Loan |
|
Rs. 1 Lakhs – Rs. 35 Lakhs |
30 years |
Super Saver Home Loan |
8..20% onwards |
Rs. 10 Lakhs – Rs. 5 Crores |
22 years |
Power Advantage Home Loan |
8..20% onwards |
Up to Rs. 5 Crores |
30 years |
Top-Up Home Loan |
8..20% onwards |
Up to Rs. 5 Crores |
22 years |
*Interest rates and charges are subject to market conditions and bank’s discretion.
Also check: home loan interest rate in detail.
Axis Bank charges certain other fees like processing fees which are charged above and over the loan amount, foreclosure fee to close the loan and prepayment fee for prepaying the loan before the tenure ends. Here are the different charges levied by the Axis Bank when you avail an Axis Bank Home Loan.
Charges |
Amount (exclusive of GST) |
Processing Charges |
Up to 1% of the loan amount, subject to a minimum of Rs. 10,000. |
Prepayment Charges |
2% of the principal outstanding in case of fixed interest rates. |
Valuation fee in Construction Linked Loan cases |
24% per annum, 2% per month |
Switching Fees |
When the effective interest rate is revised, 0.5% of the outstanding principal, with a minimum of Rs. 10,000 should be paid. |
Switching Fees for changing from floating rate to fixed rate |
1% on the outstanding loan amount |
Switching Fees for changing from fixed rate to floating rate |
2% on the outstanding loan amount |
Cheque Return charges |
Rs. 500 each time |
Issuance charges for Duplicate Statement |
Rs. 250 each time |
Swap charges for Cheque/Instrument |
Rs. 500 each time |
Duplicate interest certificate issuance charges |
Rs. 250 each time |
You have to satisfy the below mentioned eligibility criteria to avail an Axis Bank Home Loan. You can use an Axis Bank Home Loan eligibility calculator to check whether you are eligible or not.
Criteria |
For Salaried employees |
For Professionals |
For Self-employed |
Nationality |
Resident Indian or NRI |
||
Personals included |
A permanent employee in a government or a reputed private sector organisation. |
Doctors, engineers, architects, chartered accountants and management consultants |
Any person filing income tax returns. |
Age |
21 - 60 years |
21 - 65 years |
21 - 65 years |
Also Check: Home Loan Eligibility Criteria Details
You can use the Axis Bank Home Loan EMI Calculator to calculate the monthly EMI you have to pay if you get an Axis Bank Home Loan. You can use the one offered by Bajaj Markets, which is very easy to use. Enter your principal amount, rate of interest and the tenure of your loan in the online axis bank home loan calculator and click on ‘Calculate’. It will display your monthly EMI along with the total interest you have to pay for your home loan and the total amount, including principal amount and interest. Calculating your EMI and comparing it with different home loan schemes offered by various financial institutions before choosing one will help you manage your finances.
Month | Starting Balance | EMI | Interest rate | Principal contribution | Interest contribution | Ending Balance |
---|
The table below shows the calculation using the Home Loan Calculator at the various combinations of loan amount and years at the lowest rate of 6.75%.
Loan Amount |
EMI for 5 years tenure |
EMI for 10 years tenure |
EMI for 20 years tenure |
Rs. 19,683 |
Rs. 11,482 |
Rs. 7,604 |
|
Rs. 39,367 |
Rs. 22,965 |
Rs. 15,207 |
|
Rs. 59,050 |
Rs. 34,447 |
Rs. 22,811 |
You can apply for an Axis Bank Home Loan both online and offline.
Visit the Axis Bank official website and go to the Home Loan section.
Click on ‘APPLY ONLINE’.
If you are an existing customer, log in to your account.
Enter your name, email ID , mobile number, city, state, employment type and other details asked for.
Tick the terms and conditions box and click on ‘SUBMIT’.
Verify your account with the OTP sent to your mobile number.
From there, an Axis Bank professional will guide you through the next stages via phone call or email.
Locate the nearest Axis Bank branch and meet an Axis Bank executive.
Fill out the relevant form handed over to you carefully.
Carry relevant documents with you.
Submit your application form and the rest of the documents to the bank staff.
The bank staff will verify and check the documents and will help you to complete the Home Loan process.
Here is the complete list of required documents you need to apply for Axis Bank Home Loan:
Mandatory Documents |
Application form and PAN Card |
Proof of Identity |
Passport/Aadhaar Card/Driving Licence/Voter ID/GOI issued Photo ID/Govt Employee ID |
Proof of Address |
Passport/Aadhaar Card/Driving Licence/Voter ID/Govt Employee ID/Electricity Bill/Gas Bill/Telephone Bill (Landline)/Property Tax Receipt |
Date of Birth Proof |
Birth Certificate/Aadhaar Card with DOB/SSC Marksheet/Passport |
Signature Proof |
Passport/PAN Card/Banker's verification |
Proof of Income |
For Salaried Employees:
For Self-employed:
|
Property Documents |
According to the bank's policy |
Here’s a quick run-through of the different types of Axis Bank Home Loans.
Axis Bank Home Loan: Home loans of up to Rs. 5 Crores for salaried and self employed Indian customers at attractive fixed and floating interest rates with an extended tenure of 30 years.
Axis Home Loan LTV Ratio:
Home Loan Amount |
Property Cost Covered |
Loan Amount upto Rs 30 Lakh |
Upto 90% of Property Cost |
Loan Amount above Rs 30 Lakh - 75 Lakh |
Upto 80% of Property Cost |
Loan Amount above Rs 75 Lakh |
Upto 75% of Property Cost |
QuikPay Home Loan: Home loans of up to Rs. 5 Crores with reducing monthly instalments and an extended tenure of 30 years.
QuickPay Home Loan LTV Ratio:
Home Loan Amount |
Property Cost Covered |
Loan Amount upto Rs 30 Lakh |
Upto 90% of Property Cost |
Loan Amount above Rs 30 Lakh - 75 Lakh |
Upto 80% of Property Cost |
Loan Amount above Rs 75 Lakh |
Upto 75% of Property Cost |
Shubh Aarambh Home Loan: Home loans of up to Rs. 30 Lakhs are offered under this scheme. An added advantage is that twelve EMIs are waived off on regular payments of EMIs. Four EMIs each waived at the end of 4th, 8th and 12th year with no extra costs, zero prepayment charges.
Fast Forward Home Loan: Home loans of up to Rs. 5 Crores are provided. Through this scheme twelve EMIs are waived off on regular payments of EMIs. Six EMIs waived at the end of 10th and 15th year with no extra costs, zero prepayment charges.
Fast Forward Home Loan LTV Ratio:
Home Loan Amount |
Property Cost Covered |
Loan Amount upto Rs 30 Lakh |
Upto 90% of Property Cost |
Loan Amount above Rs 30 Lakh - 75 Lakh |
Upto 80% of Property Cost |
Loan Amount above Rs 75 Lakh |
Upto 75% of Property Cost |
Asha Home Loan: Home loans of up to Rs. 35 Lakhs for an extended tenure of 30 years are available on a minimum combined family income of Rs. 8000 per month.
LTV Ratio: Loan amount upto Rs 30 Lakh (Upto 90% of Property Cost)
Top-Up Home Loan: Top Up loan for existing Axis Bank Home Loan customers and for Balance Transfer customers. Get additional financing on the same property.
Power Advantage Home Loans: Home loans of up to Rs. 5 Crores with an extended tenure of 30 years.
LTV Ratio:
Home Loan Amount |
Property Cost Covered |
Loan Amount upto Rs 30 Lakh |
Upto 90% of Property Cost |
Loan Amount above Rs 30 Lakh - 75 Lakh |
Upto 80% of Property Cost |
Loan Amount above Rs 75 Lakh |
Upto 75% of Property Cost |
Axis Bank Home Loan has different features and benefits that will help bring you one step closer to your dream home.
Competitive interest rates: Axis Bank Home Loan interest rates are comparatively low and start from 8.10% onwards. This varies from person to person and depends on your age, repayment ability, annual income etc.
Option to choose interest rates: As per your preference, you can choose floating interest rate or fixed interest rate as your Axis Bank Home Loan rate. A floating interest rate changes as per the market conditions throughout your loan tenure, whereas the fixed-rate remains the same.
Minimum loan amount: You can opt for a minimum loan amount of Rs. 3 Lakhs and avoid the burden of unnecessary huge EMI payments.
No prepayment charges: There are no extra prepayment charges for your home loan on the floating loan interest rates.
Convenient loan processing: You can have a quick and easy loan disbursement experience with easy documentation procedures.
Balance Home Loan Transfer: You can transfer your existing home loan to Axis Bank to avail low-interest rates and save more money every month by paying low EMIs.
Several factors affect the home loan interest rates. Before you proceed to apply for an Axis Bank Housing Loan, check out the factors that influence the Axis Bank Home Loan interest rate. Some of the factors are:
Principal Amount: Axis Bank Home Loan interest rate depends on the loan amount you avail. The higher the loan amount, the lesser the rate of interest. You can get a home loan at the lowest interest rate if you are an existing customer of Axis Bank. An applicant can opt for a floating interest rate or a fixed interest rate.
Type of Interest: Two types of interest rates are offered for a home loan. They are floating and fixed interest rates. A floating rate of interest changes depending on the RBI’s policy rate changes. The fixed rate will have the same rate of interest fixed at the time of the approval of the loan and will continue until the end of the tenure. There are no prepayment and part payment charges on floating interest.
Down Payment: When you take a home loan, a certain percentage of the property value must be paid as down payment. If the down payment you make is larger, then the loan amount required and the risk of the lender will be much lesser. As a result, you will pay lower EMI on the housing loan.
Credit Score: To get an Axis Bank Home Loan, your credit score should be good. The bank will check the credit score before approving the loan and disbursing the loan amount. The higher the credit score, the better is the Axis Bank Home Loan interest rate.
You can contact the Axis Bank’s customer care for any queries related to Axis Bank Home Loan through the toll-free number 18604195555 or 18605005555. NRI customers can contact Axis Bank through the customer care number 912267987700. Axis Bank Home Loan complaints can be addressed to their head office as well. The head office address is listed as follows:
Axis Bank Limited, ‘Axis House’, C-2 Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400 025
Yes, you can apply for an Axis Home Loan online.
The processing fees for Axis Home Loans is up to 1% of the loan amount, subject to a minimum of Rs. 10,000.
Yes, Axis Bank gives pre-approved home loans.
The maximum limit of an Axis Home Loan is Rs. 5 Crores.
With the Axis Bank Application Tracker, you can track the status of the Axis Home Loan you have applied for. Just type in your details and get your status.
Yes, Axis Bank checks CIBIL score for home loans.
The maximum loan tenure you can opt for under Axis House Loan is 30 years.
Yes, you can transfer your existing house loan from another bank to Axis Bank.
If your spouse is a co-owner of the property, you can club the income of your spouse with yours and apply for Axis Bank Joint Home Loan.