Axis Bank Home Loan

Interest Rate starts from 9.15%
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Home Loan From Axis Bank

ApnaLoanBazaar is here to help you choosing the best Bank for your Home Loan with high eligibility and lower EMI to fulfill your dream home
Interest Rate starts from
9.15*%
Processing Fee
10,000 Or Up To 1.0%
Loan Tenure
Upto 30 Years
Guarantor Requirement
Allowed
Part-Payment
Allowed
Pre-Closure Charges
Nill

About Axis Bank

Axis Bank Limited provides a suite of corporate and retail banking products. The Bank operates through four segments: Treasury, Retail Banking, Corporate/Wholesale Banking and Other Banking Business. Its Treasury operations include investments in sovereign and corporate debt, equity and mutual funds, trading operations, derivative trading and foreign exchange operations on the proprietary account and for customers. Its Retail Banking constitutes lending to individuals/small businesses and activities include liability products, card services, Internet banking, mobile banking and financial advisory services among others. Its Corporate/Wholesale Banking includes corporate relationships not included under Retail Banking, corporate advisory services, placements and syndication, project appraisals, capital market related services and cash management services. Its Other Banking Business includes para banking activities, such as third-party product distribution and other banking transactions.

Highlights

'Best Loyalty Program of the year', 9th Loyalty Awards 2016
No. 1 Promising Banking Brand of 2015, ET Best Brands 2015
'Best Audit Committee' by Asian Centre for Corporate Governance & Sustainability, 2015
Innovation in Social Pay-Aegis Graham Bell Awards 2015
Best Domestic Bank in India- Asiamoney Best Banks 2015
Best Security among Private Sector Banks in India by Data Security Council of India (DSCI), 2015

FAQs About Axis Bank Home Loan

What is the best way to apply for an Axis Bank Home Loan?

    You can start the process of applying for a Home Loan in any of the following ways:

  • Online by clicking here.
  • In person at any AXIS Bank Loan Center. To find the one closest to you,
  • By calling Axis Bank Call Center at any of these toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577.You can start the process of applying for a Home Loan in any of the following ways:
What cirteria will AXIS Bank look at to decide my eligibility for a Home Loan?

    Among the multiple factors that AXIS Bank considers in determining Home Loan eligibility are:

  • Income of all applicants.
  • Age of the primary applicant.
  • Number of dependents that the applicants have to support.
  • Assets and liabilities of the applicants.
  • Stability and continuity of the primary applicant's occupation.
  • To check your eligibility online, please click hereAmong the multiple factors that AXIS Bank considers in determining Home Loan eligibility are:
Can I also avail of a Home Loan for Home improvements or a Home extension?

    Yes! You can avail of an AXIS Bank Home Loan from for any of the following:

  • Purchase of a home.
  • Construction of a home.
  • Home repairs.
  • Home improvements.
  • Home extensionYes! You can avail of an AXIS Bank Home Loan from for any of the following:
Does AXIS Bank offer different types of Home Loan interest rates?

    Yes! AXIS Bank offers both Fixed and Floating rates as explained below:

  • Fixed Home Loan rates: The rate of interest applicable for the Home Laon is fixed throughout the term of repayment of Loan.
  • Floating Home Loan rates: The rate of interest applicable for the Home Loan changes with change in the Bank's Base rate.Yes! AXIS Bank offers both Fixed and Floating rates as explained below:
Is it mandatory to have a co-applicant when applying for a Home Loan? If yes, who can be a co-applicant for my Home Loan?
  • Yes, it is mandatory to have a co-applicant. If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the Home Loan. If you are the sole owner of the property, any member of your immediate family can be your co-applicant.
What documents do I need to submit along with my application for a Home Loan
For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here.For the List of Documents to be submitted along with your Home Loan application, please click here. What Process Does The Bank Follow After I Apply For An AXIS Bank Home Loan? Do I Need To Pay A Fee To Apply For An AXIS Bank Home Loan? How Will My Equated Monthly Installment (EMI) Be Calculated? When Is My EMI Due? What Is Pre-EMI Interest? How And When Does The Floating Rate Of Interest Change?
What process does the Bank follow after I apply for an AXIS Bank Home Loan?

    Once receive a completed application form along with the necessary supporting documents two things happen:

  • Determination of your eligibility for the Home Loan: For this we consider our internal policy guidelines and also examine all the documents submitted by you. If you are deemed eligible, you will get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property. Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 30 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank. If we find Axis Bank unable to extend the loan to you, Bank will communicate the same to you promptly.
  • Legal and Technical verification: Lawyers and property valuers empanelled by the Bank will verify your title documents conduct a technical evaluation of the property. Once both these are complete, the Bank will process the disbursement of your Home Loan.Once receive a completed application form along with the necessary supporting documents two things happen:
  • Determination of your eligibility for the Home Loan: For this we consider our internal policy guidelines and also examine all the documents submitted by you. If you are deemed eligible, you will get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property.
Do I need to pay a fee to apply for an AXIS Bank Home Loan?
  • Banks charge a non-refundable processing fee for every Home Loan application. The processing charge to avail of an AXIS Bank Home Loan is up to 1% of the loan amount plus service tax as applicable.
How will my Equated Monthly Installment (EMI) be calculated?
  • The EMI consists of the principal amount and the interest on the principal amount. It is calculated by taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum. The EMI may be subject to change when interest rate changes or a part-payment of the Loan is made.
  • Every month, part of the EMI is adjusted towards the interest payable and the balance is adjusted towards repayment of the principal. The EMI consists of the principal amount and the interest on the principal amount. It is calculated by taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum. The EMI may be subject to change when interest rate changes or a part-payment of the Loan is made.
When is my EMI due?
  • The EMI will be due on a fixed date each month. This date will be notified when your loan is disbursed.
What is Pre-EMI interest?
  • Pre-EMI interest is the interest on the loan amount disbursed by the Bank. It is payable every month from the date of each disbursement until the commencement of the EMI payments.
How and when does the floating rate of interest change?

    AXIS Bank reassesses the BR and MRR from time to time after considering numerous factors including the cost of funds, cost of operations, prevailing interest rates, and provisioning requirements.
    The Home Loan floating rate will change when either of one of the two rates below changes:

  • AXIS Bank's Base Rate (BR) for loans sanctioned from 1st July, 2010
  • AXIS Bank's Mortgage Reference Rate (MRR) for loans sanctioned before 1st July, 2010

Required Documentation For Salaried Persons

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Latest 3 months Payslips
  • Job Continuity Proof
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents

Required Documentation For Self Employed

  • Filled Application form
  • Identity Proof
  • Address Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents

Identity Proof For Home Loan

  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification

Age Proof For Home Loan

  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)

Address Proof For Home Loan

  • Passport
  • Telephone bill (BSNL/MTNL)
  • Electricity bill
  • Title deed of property
  • Rental agreement
  • Driving license
  • Election ID card
  • Photo-credit card (with last two month statements)

Income Proof For Home Loan

  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)

Job Continuity Proof For Home Loan

  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)

Banking History For Home Loan

  • Bank statements of latest 2 months
  • 3 months bank passbook

Property Related Documents For Home Loan

  • Min of 15 years of Link documents of Property/div>
  • Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
  • Property Sanction plan
  • BRS/LRS copies (if required, any)

Home Loan Can Be Used For Many Purposes Like Below

For Construction of a New House

For Purchase of Dream Home

For Interiors of Home

Purchase of Open Land

To Buy an Apartment

Home Renovation

To Purchase a New Villa

Construction of Commercial Building

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