Axis Home Loan Snapshot-
|Loan Amount||Rs. 3 Lakh - Rs. 5 Crore|
|Rate of interest||6.90% - 8.40%|
|Tenure||Up to 30 Years|
|Lowest EMI possible||Rs. 659 Per Lakh|
Top features of Axis Bank Home Loan can be summarised as:
You can tap following benefits with Axis Bank Home Loan:
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 Documents to be submitted for loan application:
|Identity proof (any one)|
|Address proof (any one)|
|Signature proof (any one)|
|Proof for Date of birth (any one)|
|Income proof (any one)|
For Indian Salaried:
For NRI Salaried:
|Documents for Balance Transfer/ Takeover of Loan from other bank or financial institution|
|For Partners in a Firm or Directors in a Company|
Director of a Company:
|Other Documents & Checks|
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 Loan||Salaried||Self-employed|
|Home Loans||Floating Rate: 7.00% - 8.55%|
|Asha Home Loans||Floating Rate: 10.05% - 11% p.a.||Floating Rate: 10.30% - 11.50% p.a.|
For new home loan customers (+ existing customers since Oct 2019)
For existing home loan customers
Fees and charges applicable on Axis Bank Home Loans:
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.
|Fees for switching of interest rate scheme|
(not applicable for Fast Forward & Shubh Aarambh Home Loans)
|Repayment instruction/ instrument return||Rs. 500 per instance|
|Cheque/instrument swap charges||Rs. 500 per instance|
|Credit report issuance||Rs. 50 per instance|
|Issuance of duplicate statement||Rs. 250 per instance|
|Issuance of photocopy of title documents||Rs. 250 per document set|
|Issuance of duplicate amortization schedule||Rs. 250 per instance|
|Requests by customer for copies of documents||Rs. 250 per instance|
|Issuance of duplicate NOC/NDC||Rs. 500 per instance|
|Issuance of duplicate interest certificate (Provisional/Actual)||Rs. 250 per instance|
|Equitable mortgage creation charges||As applicable in the state|
*Applicable Goods & Services Tax (GST) will be charged over and above all the charges mentioned above
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:
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:
|Maximum household income per annum||Up to Rs. 6 Lakh||Rs. 6 – Rs. 12 Lakh||Rs. 12 – Rs. 18 Lakh|
|Maximum property area (carpet area)||No restriction||160 sq.m.||200 sq.m.|
|Maximum loan amount for subsidy calculation||Rs. 6 Lakh||Rs. 9 Lakh||Rs. 12 Lakh|
|Maximum tenure for subsidy calculation||20 years|
|Interest subsidy (% p.a.)||6.50%||4%||3%|
|Subsidy amount||Rs. 2.67 Lakh||Rs. 2.35 Lakh||Rs. 2.30 Lakh|
|Women ownership on the property||Yes||Not applicable||Not applicable|
|The beneficiary family should not own a pucca house in India||Applicable||Applicable||Applicable|
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.
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.
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 Amount||10 years||20 years||30 years|
*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.
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 Amount||LTV % - Maximum Sanction Amount|
|Up to Rs. 30 Lakhs||90% of the market value of the property|
|Above Rs. 30 Lakhs and up to Rs. 75 Lakhs||80% of the market value of the property|
|Above Rs. 75 Lakhs||75% of the market value of the property|
|Bank/NBFC||Maximum Tenure||Interest Rate||Processing Fee|
|Axis Bank Home Loan||30 years||6.90%-8.40%||Up to 1%, minimum Rs.10,000|
|SBI Home Loan||30 years||6.75% - 8.05%||Up to 0.40% + applicable GST|
*waived off for limited time
|ICICI Bank Home Loan||30 years||6.70%-8.05%||0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST|
|HDFC Home Loan||30 years||6.75%-7.65%||Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes|
|Kotak Mahindra Home Loan||30 years||6.65% - 7.30%||Up to 2 % + GST|
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: email@example.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,
Worli, Mumbai - 400 025
In case you are not satisfied with resolution of your complaint, you can write to the nodal officer at firstname.lastname@example.org
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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 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.
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.
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.
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.
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.
Yes. Applicants can make part prepayment without bearing any charges on floating home loan.
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.
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.
The different types of Home Loans offered by Axis Bank are:
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.
There is no prepayment charge applicable on Axis Bank Home Loan prepayment or foreclosure.
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.
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.