Axis bank Loan Against Property

Loan Against Property (Income Based, GPR, GTP)

1 year MCLR + 2.60% = 11.35%

1 year MCLR + 2.85% = 11.60%

Loan Against Property (Surrogates - Banking, Repayment Based)

1 year MCLR + 2.85% = 11.60%

1 year MCLR + 3.10% = 11.85%

Overdraft Against Property Loans - Residential and Commercial

1 year MCLR + 3.60% = 12.35%

1 year MCLR + 3.70% = 12.45%

Processing fee

• 1% of the loan amount or 10,000 (whichever is higher) + GST.
• A non-refundable amount of 5,000 + GST will be collected upfront at the time of application login. The balance processing fee will be collected at the time of loan disbursement.

• 1% of the loan amount or 10,000 (whichever is higher) + GST.
• A non-refundable amount of 5,000 + GST will be collected upfront at the time of application login. The balance processing fee will be collected at the time of loan disbursement.

• 1% of the loan amount or 10,000 (whichever is higher) + GST.
• A non-refundable amount of 5,000 + GST will be collected upfront at the time of application login. The balance processing fee will be collected at the time of loan disbursement.

Part prepayment charges/ Foreclosure charges

• For non-individual applicant: 3% (if the part payment amount exceeds 25% of the outstanding balance during a calendar quarter). Nil charges for part payment up to 25%.
• For individuals: Nil pre-payment/ foreclosure charges.

2% foreclosure charges will be applicable on the limit fixed for the specific year when the limit will be foreclosed.

• For non-individual applicant: 3% (if the part payment amount exceeds 25% of the outstanding balance during a calendar quarter). Nil charges for part payment up to 25%.
• For individuals: Nil pre-payment/ foreclosure charges.

Duplicate NOC/ No Dues Certificate

500 + GST per instance

500 + GST per instance

500 + GST per instance

charges for cheque bounce

500 + GST per instance

500 + GST per instance

500 + GST per instance

Stamp duty/other charges

As applicable by the State law

As applicable by the State law

As applicable by the State law

Penal Interest

24% p.a. (2% p.m.) on the overdue instalment(s)

24% p.a. (2% p.m.) on the overdue instalment(s)

24% p.a. (2% p.m.) on the overdue instalment(s)

Charges for cheque swapping

500 + GST per instance

500 + GST per instance

500 + GST per instance

Charges for issuance of duplicate statement

250 + GST per instance

250 + GST per instance

250 + GST per instance

Charges for issuance of photocopy of title deeds

250 + GST per document set

250 + GST per document set

250 + GST per document set

Charges for issuance of credit report

50 + GST

50 + GST

50 + GST

Switching fees (higher floating interest rate to lower floating interest rate)

0.5% on the outstanding balance (minimum of 10,000)

0.5% on the outstanding balance (minimum of 10,000)

0.5% on the outstanding balance (minimum of 10,000)

Purpose

The loan can be availed against any residential or commercial property and can be used for business or personal needs.

Who can apply

Salaried employees, self-employed individuals, and self-employed professionals

Age

• Salaried: Above 24 years at the time of loan application and up to the age of superannuation.
• Self-employed Individuals/ Self-employed Professionals: Above 24 years at the time of loan application and up to 65 years at the time of loan maturity.

Quantum of loan

Minimum 5 Lakhs and maximum 5 Crores

Margin

• 40% to 55% for loan against residential/ commercial property.
• 20% to 30% in case of purchase of commercial property.

Interest rate

11.35% to 12.45%

Repayment tenure

The loan should be repaid within a maximum period of 20 years

Processing fee

1% of the loan amount or 10,000, whichever is higher

Balance Transfer

Available

Purpose

The loan can be availed against rental receipts of any residential or commercial property and can be used for business or personal needs.

Who can apply

Salaried employees, self-employed individuals, and self-employed professionals

Age

• Salaried: Above 24 years at the time of loan application and up to the age of superannuation.
• Self-employed Individuals/ Self-employed Professionals: Above 24 years at the time of loan application and up to 65 years at the time of loan maturity.

Quantum of loan

85% of the net present value of future rentals or 50% of the market value of the property whichever is lower will be applicable (Minimum 5 Lakhs and maximum 5 Crores).

Margin

15% on the net present value of future rentals and 50% on the market value of the property.

Interest rate

11.35% to 12.45%

Repayment tenure

The loan should be repaid within a maximum period of 9 years

Processing fee

1% of the loan amount or 10,000, whichever is higher

Balance Transfer

Available

Purpose

This dropline overdraft facility can be used for working capital requirements of self-employed individuals and self-employed professionals.

Who can apply

Salaried employees, self-employed individuals, and self-employed professionals

Age

• Salaried: Above 24 years at the time of loan application and up to the age of superannuation.
• Self-employed Individuals/ Self-employed Professionals: Above 24 years at the time of loan application and up to 65 years at the time of loan maturity.

Quantum of loan

Minimum 5 Lakhs and maximum 50 Crores. A limit will be set for a year which can be utilised as and when required. The entire loan amount will not be disbursed at one go, unlike Term Loan. The limit can be renewed every year.

Margin

• 40% to 55% for loan against residential/ commercial property
• 20% to 30% in case of purchase of commercial property

Interest rate

11.35% to 12.45%

Repayment tenure

Overdraft facility is a running account and can be renewed every year as per the repayment schedule but the maximum tenure is 10 years.

Processing fee

1% of the loan amount or 10,000, whichever is higher

Balance Transfer

Available

Purpose

To meet financial requirements of senior citizens of India who own a built up property and residing in it.

Who can apply

Senior citizens of India aged above 60 years who own a residential property

Age

Above 60 years

Quantum of loan

Up to 60% of market value of the property (Minimum 5 Lakhs and maximum 1 Crore)

Margin

Minimum 40%

Interest rate

11.35% to 11.60%

Repayment tenure

Up to 20 years

Processing fee

1% of the loan amount or 10,000, whichever is higher

Identity proof

Any one of the following:

• Passport
• Aadhaar Card
• Driving License
• PAN Card
• Voter ID
• Government Employee ID
• Photo ID issued by Government

Address proof

Any one of the following:

• Aadhaar Card
• Driving License
• Voter ID
• Government Employee ID
• Photo ID issued by Government
• Electricity/ GAS/ Telephone (Landline) Bill
• Property Tax Receipt

Age proof

Any one of the following:

• Passport
• Aadhaar Card
• Driving License
• PAN Card
• SSC Marksheet
• Birth Certificate

Signature proof

Any one of the following:

• Passport
• PAN Card
• Banker's Verification
• Notarised affidavit with ID and Address proof (if applicable)

Income proof

For Salaried (Indian Resident):

• 3 months salary slips
• 6 months salary slips/ 2 years bonus proof (for variable pay)
• 6 months bank statements showing salary credits
• 2 years Form 16/ employment continuity proof

For Salaried (NRI):

• 3 months salary slips
• Appointment letter/ contract letter
• Continuous Discharge Certificate (for shipping cases)
• 6 months Domestic NRO/NRE account statement
• 6 months international salary account statement
• Overseas credit report
• Copy of valid Visa/ OCI card
• Copy of valid Passport
• POA details

Self-employed:

• 2 years ITR, Computation of Income, Balance sheet, and P&L with seal and sign by CA
• Tax Audit Report (for Gross Turnover exceeding 1 Crore or Gross Receipts exceeding 25 Lakhs)
• 6 months bank statements for personal and business accounts
• CPC & tax paid challan (if ITR is not filed with digital sign)
• Business continuity proof for 5 years

For Balance Transfer or Takeover from another bank/ financial institution

• Loan account statement of 12 months with the latest outstanding letter
• Details of existing loan(s) and bank statement of 6 months from where EMI is being deducted

For Lease Rental Discounting (LRD)

• Bank statement of 6 months where rent is credited
• Registered and valid lease agreements
• ITR, P&L, Balance Sheet, and Computation of Income of  2 years with CA's seal & sign
• 26 AS of 1 year
• Partnership deed, KYC, partnership authority letter, operative account, 2 years audited financials (for Partnership firm)

For Partners in a Firm/ Directors in a Company

Partner / Partnership Firm

• List of Partners, Partnership Deed, NOC as per the format of Axis Bank
• Audited ITR with complete financials of Partnership firm
• Partnership authority letter on Firm's letterhead signed by all partners (if Firm is standing as guarantor)

Director of a Company

• For the company: 2 years' ITR, P&L, Computation of Income, Balance sheet with CA's seal & sign
• Tax Audit Report (if Gross Turnover is exceeding 1 Crore or Gross Receipts exceeding 25 Lakhs)
• Board Resolution (if the applicant is Company) as per the format of Axis Bank
• Certificate of Incorporation, MOA, and AOA
• DIN of all Directors and Board Resolution (if Company) as per the format of Axis Bank
• Latest Share Holding Pattern signed by Company secretary or List of Directors

Other documents

• Completely filled & signed loan application form
• Latest passport size photographs of the applicant
• PAN Card is mandatory for financial applicants
• Processing Fee & CERSAI cheques
• All documents should be self-attested by the borrower
• Other documents to be submitted if applicable
  • Letter from the customer for opting for EMI (for partly disbursed case)
  • Vernacular or indemnity bond
  • Dual name or dual sign affidavit
  • Amenities agreement signed by third party/sellers
  • End use letter for LAP/ LAP top up cases

Documents required before loan disbursement

• Loan Agreement & Annexures
• NACH mandate/ Standing Instruction form & Security Cheques
• Loan Cover/ Insurance Details
• Processing fee/ Equitable mortgage cheques
• Property documents
• Own contribution receipts
• Sanction Letter
• TDS
• PSL documents

Savings Account

Safe Deposit Locker

Safe Custody

Salary Account

AxisDirect Invest Account

Current Account

National Pension System (NPS)

Pension Disbursement Account

Axis Active

Sukanya Samriddhi Yojana

PMJDY

Fixed Deposits

Recurring Deposits

Tax Saver Fixed Deposit

Encash 24 Flexi Deposit

Fixed Deposit Plus

Commercial Credit Cards

Commercial Debit Cards

Debit Cards

Transit Cards

Credit Cards

Pre-paid Cards

Forex Card

Personal Loan

Home Loan

Holiday Loan

Gold Loan

Loan Against Fixed Deposit

Loan Against Securities

Commercial Vehicle & Construction Equipment Loan

Car Loan

Education Loan

Business Loan

Two Wheeler Loan

Foreign Currency Travellers Cheques

Foreign Currency Demand Drafts

Demat Account

Mutual Funds

Digital Payments

Online Fund Transfer

International Fund Transfer

Foreign Currency Cash

Alternate Investment Products

Future Planning Solutions

Kisan Vikas Patra

AxisDirect

Motor Insurance

Home Insurance

Life Insurance

Health Insurance

Travel Insurance

Business Guard

7.75% Savings Bonds

Pradhan Mantri Suraksha Bima Yojana

Mutual Fund SIP

Public Provident Fund

Atal Pension Yojana

IPOSmart

Trade & Forex

Treasury Service

Capital Market Service

Corresponding Banking & FI Services

Pradhan Mantri Jeevan Jyoti Bima Yojana

Bima Uphaar Yojana

Current Account

Cash Management System

Start Up Banking

NRE Savings Account

NRO Savings Account

NRI Prime Savings Account

Fastag

Corporate Loans

(Turnover greater than 250 Cr)

SME Loans

(Turnover upto 250 Cr)

Small Business Banking

(Turnover upto 10 Cr)

NRE Recurring Deposit

NRO Recurring Deposit

NRO Rupee Deposit

NRE Salary Account

Foreign Currency Non Resident (FCNR) Deposit

Mariner's Account

Resident Foreign Currency Account

NRE Rupee Deposit

NRI Pro Rupee Deposit

NRI Pro Foreign Currency Deposit

Resident Foreign Currency Term Deposit

Fixed Deposit Plus

Fixed Deposit Plus

Portfolio Investment Scheme (PIS) Account

4 in 1 NRI Investment Account