Axis Bank Home Loan Details

Axis Home Loan Snapshot-

Loan AmountRs. 3 Lakh - Rs. 5 Crore
Rate of interest6.90% - 8.40%
TenureUp to 30 Years
Lowest EMI possibleRs. 659 Per Lakh
Processing fee
  • 1% of the loan amount (minimum Rs. 10,000) + GST
  • NIL for online applications
  • Axis Bank Home Loan Features

    Top features of Axis Bank Home Loan can be summarised as:

    • Axis Loan amount: Up to 75% - 90% of the property value; Rs 3 Lakh to Rs 5 Crore
    • Axis Bank Home Loan Interest Rates start from 6.90 % per annum
    • Repayment tenure: Up to 30 years
    • Axis Home Loan Processing Fee is nominal at 1% of the loan amount (minimum of Rs 10000) +GST.
    • Lowest EMI possible: Rs. 659 per Lakh

    Axis Bank Home Loan Benefits

    You can tap following benefits with Axis Bank Home Loan:

    • A wide range of Axis Bank housing loans to choose from. You can avail a customised home loan deal as per your profile.
    • Axis Bank Home Loan Interest Rates are linked to RBI’s repo rates. Thus you can avail of attractive interest rates as per market standards.
    • Repayment tenure varies from 12 to 360 months.
    • There is no prepayment charge on Axis Home Loans.
    • Choice to pick from floating as well as fixed interest rate home loans.
    • Apply online to Axis Home Loan for faster sanction & disbursal.
    • No hidden charges.
    • Easy to use app & website support.
    • Highly responsive customer service.

    Axis Bank Home Loan Eligibility Criteria

    Simple & easy to meet eligibility criteria are set for Axis Bank Home Loans. Let’s take a quick tour on eligibility standards set by the lender.

    Axis Bank Home Loan Eligibility for Salaried Employees:

    • The applicant should be in a permanent service. Employees of government as well as private companies are eligible.
    • Age should be 21 years to 60 years (till the completion of loan).

    Axis Bank Home Loan Eligibility for Professionals:

    • Below-listed professionals can apply for Axis Bank Home Loan:
    • Doctors
    • Architects
    • Dentists
    • Engineers
    • Chartered Accountants
    • Cost Accountants
    • Company Secretariat
    • Management Consultant
    • Applicant should be a minimum of 21 years old. The maximum age should be 65 years at the time of loan maturity.

    Axis Bank Home Loan Eligibility for Self-Employed Individuals:

    • To be eligible for Axis Bank Home Loan, you should be consistent in filing Income Tax Returns.
    • Age should be 21 years or above at the time of loan application. The maximum age should be up to 65 years at the time of loan maturity.

    Documents Required for Axis Bank Home Loan

    Axis Bank Home Loan Documents to be submitted for loan application:

    Mandatory documents 
    • Application Form
    • PAN Card
    Identity proof (any one)
    • Aadhaar Card
    • Driving License
    • Passport
    • Voter ID
    • Govt Employee ID
    • GOI issued Photo ID
    Address proof (any one)
    • Aadhaar Card
    • Driving License
    • Electricity/ Gas/ Landline Telephone Bill
    • Voter ID
    • Govt Employee ID
    • GOI issued Photo ID
    • Property Tax Receipt
    Signature proof (any one)
    • Passport
    • PAN Card
    • Notarized Affidavit with identity  & address proof (not required for financial applicant)
    • Banker's verification
    Proof for Date of birth (any one)
    • Passport
    • SSC Marksheet
    • Birth Certificate
    Income proof (any one) 

    For Indian Salaried:

    • Salary slips of last 3 months
    • Pay Slip of last 6 months or bonus proof of 2 years (in case of variable pay)
    • Bank statement of 6 months showing salary credits
    • Form 16 of last 2 years or employment continuity proof

    For NRI Salaried:

    • Pay slip of last 3 months
    • Appointment letter or contract letter
    • Continuous Discharge Certificate (CDC) for Shipping cases
    • Domestic NRE/ NRO account statement of last 6 months
    • International Salary Account Statement of last 6 months
    • Overseas credit report
    • Valid visa copy or OCI card
    • Passport copy
    • POA details

    Self-employed:

    • ITR, Computation of Income, Balance sheet, P&L of 2 years (1 year for Asha Home Loan) with CA seal & sign
    • Tax Audit Report (In case Gross Turnover exceeds Rs. 1 Crore or Gross Receipts exceeds Rs. 25 Lakh)
    • Bank statements of 6 months of personal & business accounts
    • CPC & tax paid challan: If ITR is filed without digital sign
    • Business continuity proof of3 years
    Documents for Balance Transfer/ Takeover of Loan from other bank or financial institution
    • Loan account statement of 12 months with latest outstanding letter
    • Existing loan details & bank statement of 6 months from where EMI is deducted
    For Partners in a Firm or Directors in a Company

    Partner/Partnership Firm:

    • List of Partners, Partnership Deed, NOC as per the format of Axis Bank
    • Audited ITR of partnership firm along with complete financials
    • Partnership authority letter on firm’s letterhead - signed by all partners if the firm is guarantor

    Director of a Company:

    • ITR, Computation of Income, Balance sheet, and P&L of 2 years with CA seal & sign
    • Tax Audit Report (If Gross Turnover exceeds Rs. 1 Crore or Gross Receipts exceeds Rs. 25 Lakh)
    • Board Resolution as per Axis Bank’s format (if Company is applicant)
    • Certificate of Incorporation, MOA & AOA
    • DIN of all Directors, and Board Resolution of Company (as per Axis Bank format)
    • Latest Share Holding Pattern, signed by Company secretary/List of Directors
    Other Documents & Checks
    • Application form  -duly filled & signed
    • Latest passport size photos of all applicants
    • Aadhaar Card is mandatory for PMAY applicants
    • PAN card is necessary for all applicants
    • Processing fee cheque
    • CERSAI cheques
    • Self-attestation of borrowers on all submitted documents

    Axis Bank Home Loan Interest Rates

    The rates of interest for Axis Bank Home Loans vary according to the type of Axis Home Loan scheme, category of borrower, credit assessment, property value and other factors. 

    Currently following Axis Bank Home Loan Interest Rates are applicable:

    Type of LoanSalaried Self-employed
    Home Loans
    • Floating Rate: 6.90% - 8.40%
    • Fixed Rate: 12%
    Floating Rate: 7.00% - 8.55%
    Asha Home LoansFloating Rate: 10.05% - 11% p.a.Floating Rate: 10.30% - 11.50% p.a.

    For new home loan customers (+ existing customers since Oct 2019)

    • Axis Bank Floating Home Loan Rates are linked to External benchmark of “repo rate.”
      Currently RBI’ Repo Rate is 4.00%.
      The effective Axis home loan interest rate is Repo rate + Bank’s spread.
      The rates will be reset once in three months.

    For existing home loan customers

    • MCLR= 7.35%
      MCLR rates are reset once every six months
    • Current base rate = 8.35%
    • Mortgage Reference Rate (MRR) = 13.90%
    • Basic Prime Lending Rate (BPLR) = 16.10%

    Axis Bank Home Loan Processing Fees & Charges

    Fees and charges applicable on Axis Bank Home Loans:

    Processing fee

    1% of the loan amount (minimum Rs. 10,000) + GST 

    Upfront processing fee of Rs. 5,000 + GST will be collected at the time of application login and balance fee will be collected at the time of disbursement.

    Prepayment chargesNil
    Fees for switching of interest rate scheme
    (not applicable for Fast Forward & Shubh Aarambh Home Loans)
    • Floating Rate to Fixed Rate: 1% of the outstanding principal, minimum Rs. 10,000
    • Fixed Rate to Floating Rate: 2% of the outstanding principal
    • Higher Fixed Rate to Lower Fixed Rate: 0.5% of outstanding principal, minimum Rs. 10,000. The Lower Rate will be equivalent to the applicable carded interest rate
    • Higher Floating Rate to Lower Floating Rate: 0.5% of outstanding principal, minimum Rs. 10,000
    Repayment instruction/ instrument returnRs. 500 per instance
    Cheque/instrument swap chargesRs. 500 per instance
    Credit report issuanceRs. 50 per instance
    Issuance of duplicate statementRs. 250 per instance
    Issuance of photocopy of title documentsRs. 250 per document set
    Issuance of duplicate amortization scheduleRs. 250 per instance
    Requests by customer for copies of documentsRs. 250 per instance
    Issuance of duplicate NOC/NDCRs. 500 per instance
    Issuance of duplicate interest certificate (Provisional/Actual)Rs. 250 per instance
    Equitable mortgage creation chargesAs applicable in the state
    CERSAI charges
    • Rs. 50 for loans up to Rs. 5 Lakh
    • Rs. 100 for loans above Rs. 5 Lakh

    *Applicable Goods & Services Tax (GST) will be charged over and above all the charges mentioned above

    Axis Bank Home Loan Schemes & Offers

    Axis Bank offers a variety of home loan schemes to cater to a diverse base of customers. Popular types of Axis Bank Home Loan Offers are listed below:

    Axis Bank Home Loan

    • Regular Axis Bank home loan scheme for all types of housing finance.
    • Multiple value-added benefits & services.
    • Both salaried and self employed can apply.
    • Extended age limit for self employed customers.
    • Loan amount: Rs. 3 Lakh to Rs. 5 Crore
    • Tenure: Up to 30 years
    • Option to choose- floating or fixed home loan rate.
    • Nil prepayment charges for floating home loan.
    • Easy Home Loan Balance Transfer (HLBT) facility available.
    • Doorstep service available.

    Axis Bank QuickPay Home Loan

    • Special Axis Bank Housing Loan Scheme for those who want reap benefits of repaying home loan faster.
    • Pay higher principal early & cut down interest cost. Thus, you pay smaller EMIs as the loan matures.
    • Loan amount: Up to Rs. 5 Crore
    • Tenure: Up to 30 years
    • Nil prepayment charges
    • Low interest cost
    • HLBT facility available

    Axis Bank Fast Forward Home Loan

    • Axis Home loan for buying under construction, ready/ resale home, self-construction, plot plus construction or home.
    • Loan amount: Rs. 30 Lakh – Rs. 5 Crore
    • Tenure: 30 years
    • EMI waiver offer
    • 12 EMIs waiver on regular EMI payment, with no extra cost. 
      -6 EMIs will be waived off at the end of 10th and 15th year respectively
    • Nil prepayment charge.
    • HLBT facility available.

    Axis Bank Shubh Aarambh Home Loan

    • Axis Bank Shubh Aarambh is an EMI saver scheme for affordable home loans.
    • It is Axis home loan scheme for purchase of under construction, ready/ resale home, self-construction, plot or home.
    • Maximum Axis Bank Home Loan amount up to Rs. 30 Lakh.
    • Tenure: 30 years
    • Enjoy interest subsidy option with Pradhan Mantri Awas Yojana (PMAY) Scheme
    • Enjoy 12 EMIs waiver on regular EMI payment with no extra cost.
    • 4 EMIs will be waived every 4 Years.
    • Easy balance transfer facility available for other bank customers.
    • Nil prepayment charges

    Axis Bank Asha Home Loan

    • Affordable Axis home loans for both salaried & self employed customers.
    • Home loan offer starts at a minimum combined family income of Rs. 8000 p.m.
    • Loan amount: Rs. 1 lakh to Rs. 35 Lakh
    • Tenure: 30 years
    • Attractive interest rates
    • Enjoy 12 EMIs waiver on regular repayments.
    • Low margin, high LTV:
    • Loan available up to 90% of Property Value
    • HLBT facility available

    Axis Bank Power Advantage Home Loan- Fixed & floating combo

    • Special fixed & floating rate combo Home Loan by Axis Bank
    • Avail of Axis Bank home loan for purchase or construction of pre-owned or new home or plot
    • Easy and fast processing
    • Fixed rate of interest for initial 2 years, followed by floating rates.
    • Loan amount: Up to Rs. 5 Crore
    • Tenure: Up to 30 years
    • PMAY benefits applicable for eligible customers
    • HLBT facility is available
    • Doorstep facility

    Axis Bank Super Saver Home Loan

    • Axis Bank Home loan with overdraft facility.
    • Save on total interest payable.
    • Invest surplus funds in the account & simultaneously earn interest
    • Flexibility to withdraw account balance as per requirements
    • Loan Amount: Rs. 50 Lakh – Rs. 5 Crore
    • Enjoy EMI repayment flexibility
    • Maximum tenure of 20 years for fully disbursed loans
    • Maximum tenure of 22 years for partly disbursed loans
    • HLBT facility available
    • Zero prepayment charges

    Axis Bank Home Loan Top-up

    • Axis Bank Home Loan Top Up loan facility is available for:
      a) existing home loan customers 
      b) and balance transfer customers.
    • Additional property loan for personal or business requirements.
    • Can also be used as home construction or home improvement loans.
    • Top-up up to Rs. 50 Lakh, basis eligibility
    • Tenure will be outstanding Home Loan tenure

    Axis Bank Pradhan Mantri Awas Yojana 2021

    Pradhan Mantri Awas Yojana (PMAY) was launched by Prime Minister Narendra Modi to provide affordable housing to all Indians by 2022. The PMAY scheme was meant to benefit economically weaker section of the society, lower income group, and middle-income group. The subsidy under this scheme can be availed for construction or purchase of home according to the below-mentioned eligibility criteria:

    CriteriaEWS-LIGMIG-IMIG-II
    Maximum household income per annumUp to Rs. 6 LakhRs. 6 – Rs. 12 LakhRs. 12 – Rs. 18 Lakh
    Maximum property area (carpet area)No restriction160 sq.m.200 sq.m.
    Maximum loan amount for subsidy calculationRs. 6 LakhRs. 9 LakhRs. 12 Lakh
    Maximum tenure for subsidy calculation20 years
    Interest subsidy (% p.a.)6.50%4%3%
    Subsidy amountRs. 2.67 LakhRs. 2.35 LakhRs. 2.30 Lakh
    Women ownership on the propertyYesNot applicableNot applicable
    The beneficiary family should not own a pucca house in IndiaApplicableApplicableApplicable

    To apply for PMAY 2021 on your Axis Bank Home Loan, you can either form through your bank or directly apply through PMAY website. The subsidy benefits are directly processed to your bank account.

    How to Calculate Axis Bank Home Loan EMI?

    You can use MyMoneyMantra EMI Calculator to determine Axis Bank Home Loan EMI online.

    The calculator comes as a handy tool to analyse and compare loan rates charged by other banks. Thus it helps you to make an informed choice

    For using MyMoneyMantra’s too for Axis Bank Home Loan EMI Calculation, all you need to do is fill in the amount you need as loan, loan repayment tenure and rate of interest. After the information is filled, the calculator measures EMI on the basis of applicable interest rates and finally displays the liability of EMI against the loan amount. 

    You can use this Axis Bank home Loan interest rate calculator to get loan EMI, total interest payment and loan amortization schedule.

    Axis Bank Home Loan EMI Calculation

    Let’s use EMI Calculator and find out EMI for Axis Bank Home Loans with different combinations of Home Loan Amount and tenor. Below we have calculated EMI for 10 Lakh, 20 Lakh, 30 Lakh, 40 Lakh, 50 Lakh Axis Home Loan for 10, 20 & 30 years respectively.

    Loan Amount10 years20 years30 years
    Rs.10 lakhRs.11,559Rs.7,693Rs.6,586
    Rs.20 lakhRs.23,119Rs.15,386Rs.13,172
    Rs.30 lakhRs.34,678Rs.23,079Rs.19,758
    Rs.40 lakhRs.46,237Rs.30,772Rs.26,344
    Rs.50 lakhRs.57,797Rs.38,465Rs.32,930
    Rs.60 lakhRs.69,356Rs.46,158Rs.39,516

    *For purpose of EMI calculation, flat rate of Interest @ 6.90% p.a. is considered. The calculation is indicative only and will change as per effective Axis rate of interest offered to you.

    How Much Home Loan Can I Get on My Property (LTV) from AXIS Bank?

    The Axis Bank Home Loan amount approval will depend vary from 75% to 90% of the property’s market value i.e. Loan to value (LTV) ratio will be in range of 75 to 90% of property cost, including cost of stamp duty & registration etc.

    The Minimum margin will be as follows:

    For home loans up to Rs. 30 Lakh: 10% of the property value
    For home loans above Rs. 30 Lakhs & up to Rs. 75 Lakh: 20% of the property value
    For home loans above Rs. 75 Lakh: 25% of the property value

    Further your age, current debt to income ratio and repayment capacity will be considered before sanction the loan.

    The LTV % limits on Axis Bank Home Loan are:

    Loan AmountLTV % - Maximum Sanction Amount
    Up to Rs. 30 Lakhs90% of the market value of the property
    Above Rs. 30 Lakhs and up to Rs. 75 Lakhs80% of the market value of the property
    Above Rs. 75 Lakhs75% of the market value of the property

    Axis Bank Home Loan Comparison with Other Lenders

    Bank/NBFCMaximum TenureInterest RateProcessing Fee
    Axis Bank Home Loan30 years6.90%-8.40%Up to 1%, minimum Rs.10,000
    SBI Home Loan30 years6.75% - 8.05%Up to 0.40% + applicable GST
    *waived off for limited time
    ICICI Bank Home Loan30 years6.70%-8.05%0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
    HDFC Home Loan30 years6.75%-7.65%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes
    Kotak Mahindra Home Loan30 years6.65% - 7.30%Up to 2 % + GST

    Axis Bank Home Loan Customer Care

    Axis Bank Home Loan Customer Care can be contacted for grievances, suggestions, requests and feedback. The team is well adept at handling a range of customer concerns 

    Customer Care Helpline Numbers: 

    1860 - 419 - 5555

    1860 - 500- 5555

    Agri and Rural

    1 - 800 - 419 - 5577

    Call 1800-419-5959 to get your Account Balance

    Call 1800-419-6969 to get your Mini Statement

    You can mail here: customer.service@axisbank.com

    You can also direct your concerns on the bank website to get detailed information of the other contact mediums - https://www.axisbank.com/contact-us 

    You can also use customer support to check Axis Bank Home Loan Status. 

    Use website form for checking Axis Bank Home Loan Application Status. Sharing your application ID and date of birth you can check the loan status.

    Contact Axis Bank Headquarter:

    Axis Bank Limited, 'Axis House', 
    C-2, Wadia International Centre, 
    PandurangBudhkarMarg, 
    Worli, Mumbai - 400 025

    Call: +91-22-24252525/43252525

    Fax: +91-22-24251800

    In case you are not satisfied with resolution of your complaint, you can write to the nodal officer at nodal.officer@axisbank.com

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    Best Value Home Loans

    MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.

    Axis Bank Home Loans FAQs

    ✅ Which home loan is best in Axis Bank?

    Axis Bank offers a variety of home loans to cater diversified customer needs. You should choose the best fit according to your requirement for loan amount and repayment tenure. For example- if you look ahead to repay the loan was opt for Axis Bank Fast Forward Home Loan and pay lower EMIs. You will save enough on interest cost. Further you also enjoy 12 months EMI waiver on this product. For a self employed Axis Bank Super Saver Home Loan would be a good choice as it comes with overdraft facility. Thus choose according to your specific needs. You can use professional help in choosing the best product by applying through a loan marketplace like MyMoneyMantra.

    ✅ How much home loan can I get on 15000 salary?

    The home loan eligibility is assessed basis property value, age and income of the borrower. Your EMI can be maximum of 40-50% of take home income. So, talk to the professional for home loan guidance.

    ✅ What is the EMI for 20 lakhs home loan?

    The home loan EMI is calculated basis loan tenure and interest rate. The interest rate eligibility is determined basis your income & repayment capacity. Thus EMI will vary as per profile. Use MyMoneyMantra Home Loan EMI calculator to compare and analyse EMI affordability.

    ✅ How long it takes to process Axis Bank Home Loan application?

    The decision on Axis Bank Home Loan Application will be processed quickly and transparently basis verification of property and documents. Online Axis Bank Home Loan process is the fastest and takes less than a week for disbursal after submission of documents.

    ✅ Is any fee levied on Axis Bank Home Loan application?

    Yes. A non-refundable processing fee is applied on all Home Loan applications. The charge levied by Axis Bank is up to 1% of the loan amount, starting at Rs. 10,000. As your loan advisor MyMoneyMantra does not charge any fee or charge on helping you process a loan application. Our services are free of cost for our customers.

    ✅ Can the applicant make part-payments for Axis Bank Home Loan?

    Yes. Applicants can make part prepayment without bearing any charges on floating home loan.

    ✅ Can the applicant foreclose their Home Loan account? Will it be charged?

    Yes, borrowers can foreclose Axis Bank Home Loan. But, before processing the foreclosure request, the bank will ensure that all previous dues are cleared. Once NOC is passed, a foreclosure request is submitted at the Loan Centre and the processing of request begins. Presently, there are no charges associated with foreclosure of Axis Bank Home Loan Account.

    ✅ What is the interest rate levied by Axis Bank on Home Loans?

    Axis Bank Home Loan interest rates vary from 6.90% to 8.40% per annum. Interest rates tend to vary depending upon several factors like Repo rate, LTV, CIBIL Score, monthly income, age, etc.

    ✅ What are the different types of Home Loans offered by Axis Bank?

    The different types of Home Loans offered by Axis Bank are:

    • Axis Bank Home Loan
    • Fast Forward Home Loan
    • ShubhAarambh Home Loan
    • Asha Home Loan
    • Power Advantage Home Loan
    • Super Saver Home Loan
    • Top-up Loan

       

    ✅ What is the minimum and maximum home loan offered by Axis Bank?

    You can avail a minimum of Rs. 3 Lakh as a Home Loan with Axis Bank. The maximum loan amount can be 5 Crore or beyond, depending on the customer’s profile, income and eligibility.

    ✅ What are the prepayment charges for Axis Bank Home Loan?

    There is no prepayment charge applicable on Axis Bank Home Loan prepayment or foreclosure.

    ✅ Who can be a co-applicant for Axis Bank Home Loan?

    Any member of your immediate family can be a co-applicant with you for Axis Bank Home Loan. For example- your spouse, parents, sibling and earning son can become a co-applicant.

    ✅ Will I get a tax benefit with my Axis Bank Home Loan?

    Yes, if you are a resident Indian, then you are eligible for tax benefits under the Income Tax Act, 1961 on your Axis Bank Home Loan principal and interest repayment. Presently home loan borrowers can avail of tax benefits up to Rs 1.5 Lakh u/s 80C on Home Loan principal payment and up to Rs 2 Lakh on interest repayment u/s 24. Additional income tax deduction up to Rs 1.5 lakh is available on affordable home loans till March 2022.