Axis Bank Home Loan
Home Loan Offers New Schemes
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Axis Bank Home Loan Home Loan Features and Benefits
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Loan Amount
Axis Bank Home Loan offers a range of home loan schemes catering to diverse needs, providing loan amounts of up to Rs. 5 Crores, thus accommodating individuals from various segments of society.
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Interest Rate
Axis Bank Home Loan Home Loan ensures affordability with competitive interest rates starting from 8.75%, thereby making EMIs manageable for all.
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Prepayment/Foreclosure Charges
Axis Bank Home Loan Home Loan allows prepayment or foreclosure without incurring any additional charges.
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Processing Fees
The processing fee for Axis Bank Home Loan Home Loan begins at 1%, depending on eligibility and the chosen home loan.
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Application Process
Applying for an Axis Bank Home Loan Home Loan is convenient, whether through a visit to the nearest branch or via online application from the comfort of one's home.
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Flexible Tenure
Axis Bank Home Loan Home Loan offers a maximum repayment tenure of up to 30 years with flexibility to choose a tenure according to repayment capability.
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Balance Transfer Facility
Axis Bank Home Loan allows its customers to transfer their existing home loan to another bank or NBFC without any prepayment charges, enabling customers to access better rates and benefits.
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Minimum Documentation
Axis Bank Home Loan simplifies the home loan process and expedites disbursal by requiring minimal documentation from customers.
Required Documents for Axis Bank Home Loan
For Salaried Individuals:
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Duly filled out the home loan application form
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ID Proof (any one): Aadhaar card, passport, voter ID, driving license
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Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
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Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
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Pay slips for the last 3 months
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Bank statements showing salary credits for the previous six months
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Form 16 for the last two years
For NRI (Salaried Individuals):
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Similar documents as above with additional requirements:
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Contract letter/appointment letter
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Passport Copy
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Valid VISA copy
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Overseas credit report
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International and domestic bank statements for the last six months
For Self-Employed Individuals:
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Duly filled out the home loan application form
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ID Proof (any one): Aadhaar card, passport, voter ID, driving license
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Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
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Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
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Income Tax Returns (ITR) for the last two years
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Profit & Loss statement, Balance sheet with CA seal and sign
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Bank statements for personal and business accounts for the previous six months
Axis Bank Home Loan EMI Calculator
A Home Loan EMI (Equated Monthly Installment) Calculator is a financial tool that helps borrowers estimate their monthly repayment amount for a home loan. It is based on the loan amount, interest rate, and tenure and gives clarity on the financial commitment associated with a home loan.
Example of EMI Calculation:
Using an Axis Bank Home Loan EMI Calculator:
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Loan Amount: Rs. 20 lakh
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Interest Rate: 8.70% per annum
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Tenure: 20 years
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The calculated EMI amount would be Rs. 17,610 per month.
| Loan Amount |
10 years |
20 years |
30 years |
| Rs. 10 lakh |
Rs. 12,506 |
Rs. 8,805 |
Rs. 7,831 |
| Rs. 20 lakh |
Rs. 25,012 |
Rs. 17,610 |
Rs. 15,663 |
| Rs. 30 lakh |
Rs. 50,023 |
Rs. 35,221 |
Rs. 31,325 |
| Rs. 40 lakh |
Rs. 62,529 |
Rs. 44,026 |
Rs. 39,157 |
Axis Bank Processing Fees & Other Charges
| Particulars |
Applicable Charges (exclusive of GST) |
| Processing Charges |
Up to 1% of the loan amount, subject to a minimum of Rs. 10,000 |
| Prepayment Charges (Floating Rate Loan) |
None |
| Penal Interest Rate |
24% per annum, 2% per month |
| Prepayment Charges (Fixed-Rate Loan) |
2% of the principal outstanding |
| Switching Fees (Floating Rate to Fixed Rate) |
1% on outstanding principal, minimum of Rs. 10,000 |
| Switching Fees (Base Rate/BPLR to MCLR) |
When the effective rate remains the same: No fees When the effective rate is revised: 0.5% on the outstanding principal, a minimum of Rs. 10,000 |
| Repayment Instruction/Cheque Return Charges |
Rs. 500 per instance |
| Cheque/Instrument Swap Charges |
Rs. 500 per instance |
| Duplicate Statement Issuance Charges |
Rs. 250 per instance |
| Duplicate Amortization Schedule Issuance Charges |
Rs. 250 per instance |
| Duplicate Interest Certificate (Provisional/Actual) Charges |
Rs. 250 per instance |
| CERSAI Charges |
For loans up to Rs. 5 lakh: Rs. 50 & For loans above Rs. 5 lakh: Rs. 100 |
| Loan Cover/Insurance (Compulsory) |
As per the applicable insurance premium |
Required Documents for Axis Bank Home Loan
For Salaried Individuals:
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Duly filled out the home loan application form
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ID Proof (any one): Aadhaar card, passport, voter ID, driving license
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Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
-
Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
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Pay slips for the last 3 months
-
Bank statements showing salary credits for the previous six months
-
Form 16 for the last two years
For NRI (Salaried Individuals):
-
Similar documents as above with additional requirements:
-
Contract letter/appointment letter
-
Passport Copy
-
Valid VISA copy
-
Overseas credit report
-
International and domestic bank statements for the last six months
For Self-Employed Individuals:
-
Duly filled out the home loan application form
-
ID Proof (any one): Aadhaar card, passport, voter ID, driving license
-
Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
-
Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
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Income Tax Returns (ITR) for the last two years
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Profit & Loss statement, Balance sheet with CA seal and sign
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Bank statements for personal and business accounts for the previous six months
Home Loan EMI Calculator
- Offers from 34+ Banks
- Lowest Interest Rate
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Tax Benefits on Axis Bank Home Loan Home Loan
First-time homeowners can save an additional Rs 50,000 on interest due to Section 80EE. Under Section 24(b), interest on home loans for self-occupied houses can be reduced by up to Rs 2 lakh. The amount that may be written off as interest on a house loan for a property that is rented out rather than lived in by the homeowner is unlimited. Section 10(14) exempts residents of leased housing from paying House Rent Allowance (HRA)
How to Apply for Axis Bank Home Loan Home Loan
You can apply for Axis Bank Home Loan home loan online on Magicbricks by following the given steps:
Frequently Asked Questions
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1.How do you apply for a home loan from Axis Bank?
You can visit the nearest Axis bank to apply for a loan or do it online on their website. You will have to fill out a form and provide the required documents. Once the loan has been sanctioned, you must provide the required property documentation to finish the procedure.
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2.What is the current interest rate on Axis Bank home loans?
The current interest rate on Axis Bank home loans starts at 8.75% per annum for salaried individuals. For exact information, you can also check the Axis Bank website or contact the bank directly.
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3. How can we get the best possible interest rate on an Axis Bank home loan?
Your Bureau Score indicates your creditworthiness, so use it to your advantage to get the greatest interest rate from Axis Bank. Salaried candidates may receive an interest rate of 8.70% with a Bureau Score of 751 or above. Self-employed applicants may receive a rate of 9.10%. Keep up a high credit score and fulfil all qualifying conditions to improve your chances of getting the loan with a reduced interest rate.
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4.How to check Axis Bank's home loan application status?
To find out the status, call the bank’s toll-free lines, 18605005555 or 18604195555 and follow the instructions. You can also check it via the website or mobile application.
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5.How do you download the Axis Bank home loan interest certificate?
You can download the interest certificate via the Axis Mobile App, Axis Bank Internet Banking, or from the bank. In the app, click on more > services > loans > interest certificate to download. For Internet Banking, visit loans > services > interest certificate to access and download.
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6.How do you get an Axis Bank home loan statement?
To get your Axis Bank home loan statement, contact customer care and request the statement. Email your registered email ID to loans@axisbank.com, or visit an Axis Bank Home Loan Center directly.
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7.How do we transfer our existing home loan to Axis Bank?
If you want to transfer your home loan to Axis Bank, apply online or go to a branch or loan centre to finalise the conditions. Send a closure letter to your existing Lender for a No Objection Certificate (NOC). Along with the NOC, send Axis Bank the necessary documentation. Upon verification, Axis Bank will pay the remaining amount and provide a foreclosure document. Start paying Axis Bank your EMIs.
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- Quick Links
- Home Loan EMI Calculator
- Home Loan Eligibility Calculator
- Home Loan Documents
- Home Loan Types
- Home Loan Interest Rate
- Home Loan Prepayment Calculator
- Home Loan Balance Transfer
- Home Loan Tax Benefits
- Home Loan Processing Fee
- Home Loan Process
- Home Loan Status
Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)
**This service is available in select cities only.
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.