Axis bank Loan Against Property

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Apply Axis bank Loan Against Property @ 9.75%

Interest Rate

9.75%-10%

Processing fee

Upto 1%

Loan Tenure upto

15 years

LTV (Loan to value)

75% to 90% of property value

What is a Loan Against Property?

A Loan Against Property is a credit facility wherein a property is mortgaged to avail the loan for any financial need be it personal or business-related. It can be used for upgrading your business or to fund your personal needs like education expenses, purchase of assets, planning a wedding, planning a vacation, medical expenses, and so on. This unlimited usage option without any restriction on end-use with an added advantage of competitive interest has made this product a very sought after one.

Why Apply for a Loan Against Property at Axis Bank?

If you have a residential or commercial property in your name and are looking for immediate funds then Axis Bank Loan Against Property is the right product for you. Axis Bank provides a quick and hassle-free loan against residential as well as commercial property at competitive interest. You not only have the advantage of an attractive rate of interest but also can earn eDGE reward points on availing the loan.

Advantages of Taking Axis Bank Loan Against Property

The following are the advantages of availing Axis Bank Loan Against Property:

You can get a loan on different kinds of property
You can get a loan at an interest rate of as low as 11.35%
You have the facility to transfer the outstanding balance of the existing loan from another bank to Axis Bank at a lower rate of interest.
The whole loan processing is quick and hassle-free
No hidden charges involved
Flexible repayment option is available
High loan quantum available - Up to 5 Crores
Long repayment tenure - Up to 20 years

Axis Bank Loan Against Property Interest Rates

The interest rate on Axis Bank Loan Against Property is linked to its 1-year Marginal Cost Based Lending Rate (MCLR), which is 8.75% as on 16.05.2019. Following are the interest rates for different schemes:

Loan Type	Interest Rates For PSL cases (p.a.)	Interest Rates for Non-PSL cases (p.a.)
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 Fees and Other Charges for Axis Bank Loan Against Property

The charges associated with Axis Bank Loan Against Property (apart from interest rate) are as follows:

Type of Charge	Asset Power (Loan Against Property)	Commercial OD against Property/ Dropline Overdraft Against Property	Lease Rental Discounting
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)

Types of Axis Bank Loan Against Property

Axis Bank offers the following four types of loans against property:

Loan Against Property

It is a regular Loan Against Property scheme available for salaried as well as self-employed applicants in India.

Key features of the loan are:

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

Lease Rental Discounting

Lease rental discounting is a term loan facility offered against rental receipts from leased contracts with corporate tenants.

Key features of the loan are:

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

Overdraft Facility Against Property

This facility best suits the business requirements of self-employed individuals/ professionals/ non-professionals. You can get a credit limit under this loan which can be used any time. �

Key features of the loan are:

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

Reverse Mortgage Loan

This facility is available for senior citizens owning a built up property wherein they reside. They can get credit facility against their home and can live therein holding the ownership. �

Key features of the loan are:

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

Documents Required for Axis Bank Loan Against Property

Document Type	Acceptable Documents
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

How to Use MyMoneyMantra Calculator to Calculate Your Axis Bank Loan Against Property EMI?

It is very convenient to use MyMoneyMantra EMI Calculator. You just have to follow these simple steps:

Choose the EMI Calculator mentioned under Financial Tools on MyMoneyMantra's website
Provide information like loan amount, rate of interest, and loan tenure
Click on the Calculate button to calculate the EMI instantly
On arriving at the EMI that suits your pocket, choose the lender of your choice
Fill in all the relevant information required for availing the loan

Why Use a Loan Against Property EMI Calculator?

The Loan Against Property EMI Calculator should be used to understand your eligibility and to determine the EMI. With the Loan Against Property EMI Calculator, you can choose the EMI that is affordable by trying various combinations, in terms of interest, loan amount and loan tenure. On arriving at the affordable EMI, you will understand the quantum of loan you will be eligible for. With this, you even get to understand if the loan amount available is sufficient for the purpose for which you are availing the loan. You can then decide whether to avail the loan or not. Also, the amortisation table available in the website helps in the careful planning of repayment of a property loan from Axis Bank.

Other Products by Axis Bank

The Axis Bank also offers the following products and services apart from Loan Against Property:

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

Axis Bank Customer Care

You can contact Axis Bank for any loan related queries at the following contact details:

Axis Bank, Loan Centre

Mumbai, Maharashtra

Address: Gr & 1st Floor, Radisson, SV Road

Pincode: 400062

Hours: Open until 04:30 PM

Contact Number: 18604195555

Frequently Asked Questions

What are the different types of properties considered under Axis Bank Loan Against Property?

Axis Bank Loan Against Property can be availed against a self-occupied residential property or commercial property.

Why avail a Loan Against Property instead of top-up loan?

A top-up loan can be availed only against the property in question, whereas Loan Against Property can be availed against any residential/commercial property. The quantum of loan is higher under Loan Against Property and it comes with a longer tenure.

What is lease rental discounting?

Lease Rental Discounting is a term loan offered against rental receipts from leased out commercial property. The quantum provided will be up to 85% of the net present value of future rentals or 50% of the value of the property whichever is lower.

What is the fee to be paid to avail a Loan Against Property?

A processing fee of 1% of the loan amount or 10,000 whichever is higher will be collected for Axis Bank Loan Against Property. 5,000 will be collected at the time of application log in which is not refundable. The balance processing fee will be collected at the time of disbursement of the loan.

What are the modes of payment of EMI?

You can opt for a standing instruction to your Axis Bank savings bank account. If you do not have an Axis Bank savings account you can opt for National Automated Clearing House (NACH) mode wherein your savings account at another bank will be automatically debited for the EMI on the due date.

Axis Bank - Latest News

29.01.2019: Axis Bank profit for Q3 to grow sharply

Axis Bank is expected to report a healthy growth in its profit due to a low base a year ago. Analysts expect an overall growth of 50-110% in the third-quarter profit, partly driven by lower provisions.

07.01.2019: Axis Bank to hire veteran banker Pralay Mondal

Axis Bank has initiated the process of strengthening its top deck under the new leadership of Amitabh Chaudhry by bringing in Pralay Mondal, Yes Bank's veteran retail banker and rejigging the portfolios of the existing staff.

01.01.2019: Shikha Sharma, MD & CEO of Axis Bank retires

Axis Bank said on Monday that its CEO and Managing Director Shikha Sharma has retired, w.e.f 31^st December, 2018. Amitabh Chaudhry will be the CEO and MD of the Axis Bank w.e.f 1^st January, 2019.

Why Apply for Axis Bank Loan Against Property Through MyMoneyMantra?

Each bank has its own rate of interest and repayment tenure for a Loan Against Property. Charges like pre-payment charges and processing charges also differ from bank to bank, In order to do a comparative study while checking for eligibility, the details of all the banks have to be kept handy which will be difficult and confusing if we are doing it all by ourselves. MyMoneyMantra can help you through the whole process.

MyMoneyMantra will have collated all the information about the Loan Against Property on a single screen.

We also provide requisite information and guidance in respect of the following:

In assessing the eligibility depending upon your income and repayment capacity
To choose the appropriate product
Will highlight the processing fee
Will expedite the documentation process making the turnaround quick

We have experts who can:

Assess your profile and determine your eligibility
Analyse your repayment history and advise accordingly.
They will help you understand the fine print, with regard to terms and conditions

How to Apply for Axis Bank Loan Against Property at MyMoneyMantra?

Here's the stepwise process of applying for a Loan Against Property at Axis Bank through MyMoneyMantra:

Visit MyMoneyMantra and select Home Loan under Loans tab
Select your gender and enter all the details required by following the give instructions
Enter the OTP received on your registered mobile number to complete the process
Keep the documents ready to be verified and picked up by our representative
Documents will b submitted to the Axis Bank by our representative
The Axis Bank representative will conduct a personal interview with you
If everything is in place, your application will be approved within a few days time

Axis bank Loan Against Property

What is a Loan Against Property?

Why Apply for a Loan Against Property at Axis Bank?

Advantages of Taking Axis Bank Loan Against Property

Axis Bank Loan Against Property Interest Rates

Processing Fees and Other Charges for Axis Bank Loan Against Property

Types of Axis Bank Loan Against Property

Loan Against Property

Lease Rental Discounting

Overdraft Facility Against Property

Reverse Mortgage Loan

Documents Required for Axis Bank Loan Against Property

How to Use MyMoneyMantra Calculator to Calculate Your Axis Bank Loan Against Property EMI?

Why Use a Loan Against Property EMI Calculator?

Other Products by Axis Bank

Axis Bank Customer Care

Frequently Asked Questions

What are the different types of properties considered under Axis Bank Loan Against Property?

Why avail a Loan Against Property instead of top-up loan?

What is lease rental discounting?

What is the fee to be paid to avail a Loan Against Property?

What are the modes of payment of EMI?

Axis Bank - Latest News

29.01.2019: Axis Bank profit for Q3 to grow sharply

07.01.2019: Axis Bank to hire veteran banker Pralay Mondal

01.01.2019: Shikha Sharma, MD & CEO of Axis Bank retires

Why Apply for Axis Bank Loan Against Property Through MyMoneyMantra?

How to Apply for Axis Bank Loan Against Property at MyMoneyMantra?

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