Total EMI


Total Interest


Total Payments


Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About Axis Bank Home Loan

The Axis Bank is India's largest private sector bank which was established in the year 1993. It has a line of products and services which it offers its customers to fulfill their varied requirements. It is a go-to bank when it comes to affordable and competitive discounts and schemes for banking services. The Axis Bank is known for its Home Loan products and schemes which can be availed easily by either visiting the bank or even with the help of the internet which is available online. When a middle-class individual plans to buy or build a house on their own, it becomes one of the major concerns for them because of the financial crunch that they would be facing. Hence, there are a number of Home Loans available with various discounts in order to fulfill your dream to own a house.

The Axis Bank offers its customers and borrowers with a huge variety of housing finance solutions at affordable rates and discounts.

Axis Bank Home Loan EMI Calculator

Axis Bank EMI calculator is an online tool which helps us to find out the equated monthly instalments (EMI) that is payable to the bank. This is calculated on the basis of three Home Loan parameters, viz. amount of the loan, loan tenure, and the rate of interest applicable. The EMI calculator tool will accurately compute and find out the equal instalments that you need to pay monthly. You can also try different combinations of the loan parameters to get the best EMI which suits your requirements.

The Axis Bank offers Home Loans to its customers up to a maximum repayment period of 30 years and interest rates for the same start at 8.90% (as of 13.03.2019). The lowest EMI per lakh for the Axis Bank Home Loan is 797.

Results of Axis Bank Home Loan EMI Calculator for different tenures and amounts at 8.90% interest rate:

Loan Amount

Loan Tenure

15 years

20 years

30 years

















The above table shows that there are various slabs for the Home Loans from Axis Bank with different loan tenures of 15 years, 20 years, and 30 years. When the tenure of the loan is longer then the EMI payable every month is lower and vice versa.

The EMI that is payable includes both principal repayment and the interest component payment. Even though the EMI remains stable, there is a change in the proportion of the interest component and the principal amount of the loan. With each EMI that is paid, the proportion of principal amount keeps increasing and the interest component of the same keeps reducing.

Use EMI Calculator to calculate your interest on Home Loan at different tenure

 Here are the details for EMI per Lakh at lowest interest rate of 8.90% for different tenures:

  5 years 10 years 15 years 30 years

EMI when loan amount is 1 lakh @8.90% interest rate





Total amount payable to bank (principal + interest)





Interest payable over the loan tenure





 In the above table, the longer is the loan tenure the lower is the EMI that you would be paying for the Home Loan to Axis Bank. Also, the total interest outgo is very high in a long duration Home Loan. For example in case you take a loan of 1 Lakh for a maximum duration of loan which is 30 years then you will be paying the lowest EMI which is 797 and the interest payment will be 1,87,078.

In the other way, when you take a Home Loan of 1 Lakh from Axis Bank at a lowest interest rate offered for a period of 15 years then you will be paying a higher EMI of 2071 and the interest component payable is 24,259 which is lesser than half of the amount paid for the duration of 30 years.

Highlights of Axis Bank Home Loan

Purpose of Loan: The Axis Bank housing loan can be utilised for purchasing, constructing, extending, repairing or renovating your house, and also for purchasing a plot.

The Key Features

  • The Axis Bank Home Loan is available for both the salaried employees and the self-employed individuals.
  • Maximum Loan to Value Ratio is 85% to 90% of the property's market value (depending on the loan amount and property's value)
  • The maximum Home Loan repayment tenure is up to 30 years
  • There are special discounts for women applicants
  • The age limit for the loan applicants is 21 years to 60/65 years (for salaried/self-employed).
  • The Home Loan rate of interest starts at 8.90% at present
  • The property on which you are planning to build or renovate acts as a collateral for the Home Loan.
  • The lowest EMI per lakh for the Axis Bank Home Loan is 797

Processing Fees: The processing fee charged is up to 1% of the sanctioned loan amount (minimum 10,000). 2,500 plus GST will be collected as upfront processing fee (non-refundable) at the time of application login. Balance processing fee will be collected at loan disbursement.

Special Schemes: The Axis Bank provides a number of offers and schemes when it comes to Home Loans and these are designed as per the customer requirements. It has special discounts for women borrowers, NRIs, and senior citizens.

Some of the special Home Loan offers from Axis Bank are:

  • Axis Bank Home Loan
  • Power Advantage Home Loans
  • QuickPay Home Loans
  • Fast Forward Home Loan
  • Shubh Aarambh Home Loan
  • Empower Home Loan
  • Asha Home Loan
  • Top-Up Home Loan
  • Super Saver Home Loan
  • Pradhan Mantri Awas Yojana

Axis Bank EMI Calculator Formula

The formula used by the EMI calculator is:

P*r* (1+r)^n/([(1+r)^n]-1)

Here, for Axis Bank Home Loans:

P = Loan amount which goes up to 5 Crores

r = Rate of interest/month, which starts at 8.90% at present and is linked to Axis Bank's 6 Month MCLR (8.75% as on 13.03.2019).

n = tenure in months, which can be maximum 30 years for Axis Bank Home Loans

Factors Affecting the Axis Bank Home Loans EMI

  • Principal Loan Amount: The principal loan amount is nothing but the amount that is borrowed from the Axis Bank in order to help you with your financial needs. Hence, if you apply for a Home Loan of higher amount then the EMI will be more and vice versa. Axis Bank provides a Home Loan amount of up to 5 crores.
  • Type of Loan:The Home Loan EMIs are majorly affected by the type of loan that is borrowed by the applicant from the Axis Bank as every loan type comes with different loan limit, tenure, and interest rate. 
  • Rate of Interest: The rate of interest is the rate which is applicable for the Home Loan that is borrowed. The higher is the interest rate, the more will be your EMI which will in turn increase your total cost of the loan borrowed. Currently, the Axis Bank Home Loan interest rates start at 8.90% per annum.
  • Occupation:The occupation of the applicant also has an impact on the Home Loan EMIs. For instance, the bank charges a higher rate of interest on the Home Loans for the self-employed professionals when compared to the salaried borrowers.
  • Loan Amount:The bank provides a Home Loan up to 35 lakhs at a rate of 8.90% and the Home Loans which are above 35 Lakhs the interest rates range from 9.05% to 9.10%.
  • Repayment Tenure: The Home Loan tenure is the duration under which the loan that is borrowed from the bank has to be repaid entirely. The maximum tenure of the Home Loan from Axis Bank is 30 years.
  • Current Bank Customers:The Axis Bank has applied various schemes and discounts for the applicants of the loan who already have an account with the bank. This is done to maintain a cordial relationship with the current customers.

Tips to Decide the Right Amount of EMI

  • Calculate Axis Bank Home Loan eligibility: You can calculate the Home Loan eligibility by using the online calculator and then take an informed decision as to how much funds to borrow from the bank as per your requirements and the eligibility. The Axis Bank offers a maximum Loan-to-Value (LTV) of up to 85% of the property value and expects the applicant to manage the remaining funds by themselves.
  • Compute the loan amount you need to borrow: Before you decide to borrow a Home Loan from Axis Bank, it is important that you decide the amount of Home Loan that needs to be borrowed from the bank. You should always keep in mind that the Home Loan is a long-term loan, hence, take an informed decision which will help you comfortably pay your EMIs and also does not disturb your financial budget.
  • Review the present obligations: It is always better that you ascertain your present responsibilities and obligations before you apply for a fresh Home Loan with Axis Bank. Make sure that you evaluate your current monthly expenses and any EMIs that are already pending. This will help you with a clear image of your financial situation. On the basis of the same you can further apply for a Home Loan from Axis Bank as per your financial requirements. Then you can also decide the tenure of the Home Loan.
  • FOIR:Axis Bank also estimates the fixed obligations to income ratio (FOIR) in order to find out the maximum EMI that an individual can pay on the basis of their current income and expenses. The Axis Bank provides Home Loans for a maximum FOIR of 0.65 and based on the same, the Axis Bank will estimate the maximum amount of EMI that you can bear as a borrower. The Axis Bank Home Loan assessment might differ from your manual assessment and in case there are any differences then you can adjust the loan amount requirement.

Change in EMI with Change in Interest Rate

  • The housing loan EMI usually stays the same and do not change unless the customer requests for the same and in case it is changed on request then it needs to be approved by the Axis Bank Home Loans department subject to the loan eligibility. Sometimes nominal charges are also charged in this situation.
  • In case the floating rate of interest on your Home Loan increases, Axis Bank Home Loans will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Axis Bank Home Loans, the bank may increase your EMI amount.

Change in EMI on Prepayment

  • The Axis Bank allows pre-payment of housing loans at zero charges in case of floating rate Home Loans.
  • The outstanding amount of the borrowed loan will be reduced in case of pre-payment of the loan. Here you can choose to either keep the EMI stable and then reduce your loan period or even reduce the EMI and keep the Home Loan duration same. It is always useful to keep the EMI constant and reduce your Home Loan tenure as you will tend to pay less interest to the bank in this case.
  • For fixed interest rate base Home Loans, the prepayment charges are 2% of the outstanding principal amount.

Importance of Computing the EMI before Taking an Axis Bank Home Loan

Before you initiate the process to avail the Home Loan, it is vital to compute the EMI that you are supposed to pay on a monthly basis. This will also help you to plan your future finances in a better way so that it will not harm your monthly budget and other responsibilities.

Some benefits of calculating the EMI in advance are:

  • When the Home Loan EMI is more than the monthly budget then you can apply for a lower Home Loan principal amount which will suit your budget and makes the EMI payment more comfortable.
  • On the basis of the EMI amount, you can choose to pre-pay Home Loan in future whenever you have access funds available with you.

How to Use Axis Bank Home Loan EMI Calculator on MyMoneyMantra?

The EMI calculator which is available on MyMoneyMantra's website is very simple to understand and easy to use. One can follow the following steps to complete the process of EMI calculation.

  • First and foremost, log on to the MyMoneyMantra's EMI calculator page available under the financial tools tab.
  • You will be navigated to a page where you need to enter the parameters of the Home Loan like principal amount, loan tenure, and the rate of interest. Enter all the details as mentioned.
  • After you enter the Home Loan parameters, you will instantly get the monthly EMI that is payable.
  • Then you will have the option to change the Home Loan parameters and try various combinations so as to get the best EMI as per your needs.

Benefits of Using MyMoneyMantra's EMI Calculator

There are so many merits of using the EMI calculator of MyMoneyMantra.

  • It will compute the EMI payable to the Axis Bank on a monthly basis with complete accuracy and will provide to the point results within a few seconds.
  • The EMI calculator also suggests you the best suitable EMI that you can choose so that when you start your Home Loan repayment, you will not feel the financial burden.
  • The Home Loan EMI calculator helps the borrower to decide on an EMI amount which can be repaid over the tenure of the loan with comfort.
  • The EMI calculator from MyMoneyMantra can be accessed at any given time and you can use it anywhere with the help of internet connection.
  • Calculating the Home Loan EMI manually is very difficult and confusing as there are different rates of interests that need to be applied. With MyMoneyMantra's EMI calculator, you can save your time and complete all the lengthy and complex calculations in seconds. 
  • You can use an online EMI calculator for every loan

FAQs on Axis Bank Home Loans

Are the pre-payment charges applicable on fixed and floating interest rate housing loans?

The pre-payment fees or charges are applied only on fixed interest rate Home Loans. In case of, floating interest rate Home Loans, there are no pre-payment fees or charges. For fixed interest rate base Home Loans, the prepayment charges are 2% of the outstanding principal amount.

Can the Home Loans from Axis Bank be used for property extensions and renovations?

The Axis Bank housing loans can be utiliSed for the below reasons:

  • To buy a house or a residential plot or land
  • For extensions or improvements to be done for the existing house or a flat
  • To build/construct a house or a flat
  • In case of repairs and renovations or modifications of the current home that is owned by an individual.

 What is the maximum loan period one can opt under Axis Bank?

Under Axis Bank, the maximum Home Loan period that one can opt for is 30 years. 

 Do I get an income tax benefit on Home Loan from Axis Bank?

Yes, you are entitled to get a tax benefit on Home Loan from Axis Bank under the Indian Income Tax Act of 1961. The residents of India can get a tax benefit on the principal amount and also the interest component of the Home Loan that is covered under section 80C and section 24 of the Income Tax Act, 1961.

How does part pre-payment affect the Axis Bank housing loan EMI?

Part pre-payments help you to reduce the outstanding loan amount which will also lower the interest amount that is outstanding.

Axis Bank Home Loan Latest News

2018-12-13: The Axis Bank offers Home Loans with a higher principal repayment component

The Axis Bank is providing its fresh Home Loan borrowers an alternative way to decrease the principal amount monthly. The new housing loan planned by the Axis Bank has a scheme which reduces the principal amount on monthly basis and it will reduce the total interest component for the borrower by introducing a new and a unique way of reducing the EMIs along with some savings.

2018-12-18: The Axis Bank hikes the housing loan balance transfer rates

The bank has increased its interest rates for the transfer of balance of the current Home Loans of the customers. The latest interest rates for the same stands at 8.90% which is raised by 5 bps for the Home Loan amount exceeding 30 Lakhs.