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Axis Bank Lease Rental Discounting Loan in Jajpur

Interest Rate starts from 11.40%

Axis Bank Lease Rental Discounting Loan Interest rates in Jajpur

Please Find the Detailed Axis Bank Lease Rental Discounting Loan Interest Rates

Up To 50,00,00050,00,000 Above
Commercial Properties11.40%11.40%

Features of Axis Bank Lease Rental Discounting Loan Jajpur

Type Features
Processing Fee1.0%
Pre Closure ChargesNon Individual - 2%
Part Payment ChargesAllowed
Min Tenure5 Years
Max Tenure15 Years
Min Age24 Years
Max Age60 Years
Min Loan AmountRs.2,00,000/-
Max Loan AmountRs.5,00,00,000/-

Axis Bank Lease Rental Discounting Loan Jajpur Charges

Type Charges
Penal Interest24% Per Annum
Duplicate Statement ChargesRs. 250/-
Insurance CoverUpto Loan Amount
Inspection ChargesFree
Legal Opinion Valuation ChargesFree
Bounce Cheque ChargesRs 500/- per instance
Photocopy DocumentsRs 250/- per document set
C I B I L Report Issuance ChargesRs. 50/-
Charge For Exchanging E C S MandateRs. 500/-
Repayment Schedule ChargesRs. 250/-
Loan Re Schedulement ChargesRs. 250/-
N O C Issuance ChargesFree
C E R S A I Charges"Rs 250/- For Loans up to 5 Lakhs, Rs 500/- For Loans above 5 Lakhs "

Documentation For Lease Rental Discounting

  • 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
  • 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
  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification
  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)
  • 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)
  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
  • Bank statements of latest 2 months
  • 3 months bank passbook
  • Min of 15 years of Link documents of Property
  • Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
  • Property Sanction plan
  • BRS/LRS copies (if required, any)

Axis Bank Lease Rental Discounting Loan FAQ's

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.

Axis Bank Highlights

'Best Loyalty Program of the year',  9th Loyalty Awards 2016
Best Security among Private Sector Banks in India by DSCI, 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
No. 1 Promising Banking Brand of 2015, ET Best Brands 2015

Lease Rental Discounting Can Be Used For Many Purposes Like Below

For Business Expansion

For Construct a New Block

For Construction of a New House

For Future Saving Plans

For Interiors of Home

For Lumsum Amount on Lease Rentals

For Personal Investments

To Renovate Home

Why Lease Rental Discounting?

Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.

Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.

In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.

Expert Advice

Best Practices for Home Loan

Buyer has to ensure sufficient due diligence before finalizing the property. Certain aspects like builder credibility, availability of required approvals, and legal clearance of property to be checked before buying a property. Though it costs little extra it is advisable to get the assistance of experts for buying a property. This will help in avoiding costly mistakes.
Calculate and plan the total expenditure involved in purchasing a property. Apart from the cost of the property there are other related expenses like stamp duty, loan application charges, processing fee, valuation fee, legal fee etc which need to be meet from own funds of the buyer. Property buyer to invest around 20-25% of the total cost apart from loan. It is to be ensured that sufficient cash reserves are available to meet these expenses.
Based on your earning and repaying capacity decide the home loan amount to be taken. The various factors to be taken into consideration include your income, fixed obligations, remaining work experience, future growth prospects, future expenses like children education, marriage etc, other source of income, job related risks etc. This thorough analysis will help in taking right decision. This will help in not making a mistake of taking small loan when your income supports higher loan and taking high loan when your income do not support a huge amount.
Improve your credit history. Clearing of all overdue before applying for home loan will helps to improve the credit score. It is to be noted that your loans will not go into 30-60 or 90 days delinquency which reduce the credit score. Loan dues to be paid before the credit card payments which have higher impact on the credit score then the credit card payment. Prioritize the payments.
Do hold all the documentation required for processing the loan in originals and copies. This will help in easy verification of documents and fast processing. Any change in the employment, changes in pay structure etc during the loan process to be intimated to the concerned officer who helps in avoiding disconnect.
Save the best possible amount from your income. This will help you in having the large down payment. During the tenure of loansave the income, which can be used for prepay of principal amount. Ensure that there are no prepayment charges before making prepayment.

Things not to do for Home Loan

Do not avail any short term loans like vehicle loans, Home Loans, credit cards before going for a home loan. Any additional loan taken will reduce your Home Loan eligibility.
Do not be very optimistic about your future income and make a choice of high loan amount. This will increase your worries and you make feel unsecured.
Do not change your employer without knowing the impact on the approval of your Home loan.
Do not get into a contract with emotions, do proper research before taking a property and ensure it is right fit for you.
Do not jump into a conclusion, do the required homework before applying for home loan.
Do not forget to read the small print, ensure to read all the terms and conditions before signing the agreements.
Do not forget to make the payment of instalments. Ensure sufficient balance in the account to meet the EMI on a monthly basis.
Do not apply for a home loan only just you have eligibility. First select the property get the technical and legal cleared then go for the home loan. In case if you have applied for a home loan and it is sanctioned based on your income, subsequently property is not eligible under Bank norms you will end up losing the processing fee.

Lease Rental Discounting Vs Mortgage Loans

Lease Rental Discounting Mortgage Loan
Home loan can be availed for own/purchase of new property (Home or Flat). Mortgage loans will be provided based on already owned property.
Under Home Loan, loan can be availed only for purchase of new property. There is no restriction on mortgage loan usage. It can be used for any purpose.
Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India.
Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans.
Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines.
Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms.
There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines.
Part pre Payments will be allowed in Housing Loans. There were no part prepayment will be allowed for Mortgage loans.
Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. Mortgage loans also avail with the joint eligibility as company and director or blood relatives.
You can avail max of 80% of the property value as a home loan as per your eligibility criteria. In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property.
You can avail a top loan facility on your home loan. Top up facility will be vary from bank to bank internal guidelines.

About Jajpur

Jajpur is popularly known as Biraja Khetra, which translates as "the place sacred to Goddess Biraja", Jajpur is situated on the right bank of the Baitarani River. The origin of the name of Jajpur is shrouded in mystery. Some scholars think that it is derived from the word Yajnapura, while other scholars opine that the name originated from Jajatipura. King Yajati of Somavansa was known to have made a great yajna called dasaswamedha at this place. For this, he brought 10,000 brahmins from North India and settled them in various Sasanas for which now we find a series of Brahmana Sasana villages in Jajpur area.

In ancient times Jajpur was called as Viraja or Parvati Khetra. At times it was also known as Baitarani Tirtha. Viraja Khetra finds mention in Sanskrit in the Mahabharata. The Puranic literatures refer to Viraja as Baitarani Tirtha, which was one of the famous tirthas of India.

Places To Be Visited In Jajpur

Biraja Temple

    Biraja Temple is one of the ancient Hindu temples located in the Jajpur district of Odisha, India. This present temple was built in 13th century.

Olasuni Temple

    The famous temple of Maa Olasuni became illustrious due to famous Odia Saint, Religious Writer and Philosopher Arakshit Das in around 1835. The temple situates on a hilltop and cave of Palai Mouza, Badachana Block of Jajpur District.

Dasaswamedha Ghat

    Located on the banks of River Baitarani, the Dasaswamedha Ghat is a very holy spot which was built under the reign of Jajti Kesari. It attracts thousands of pilgrims every year. The water here is regarded as sacred and they say that taking a dip here during any auspicious date in the Hindu calendar brings about a lot of positivity in life. Baruni Snana is an important festival of the ghat when Hindus from all over the country come here to take a bath in the holy waters.

Jagannath Temple

    Jagannath temple is nothing less than a wonder. Surprisingly, we do not know anything about the origin or construction of the temple apart from the fact that it is a very old one. The architectural style of the temple speaks about the era it might have been constructed in. However, no one has been able to find any solid proof of its inception. This is one of the most famous temples of Jajpur.

Gokarneswar Temple

    Chhatia is where the Jagannath temple is situated. This temple attracts the highest number of people. People say that it is the second Shreekhetra of Odisha. Chhatia Bata is another famous temple of the region. This temple has a really old banyan tree rooted to its complex. A number of stories and predictions revolve around this temple and the local people have a firm believe in the predictions written in the Malika which says, “On a day when all Living animals and Human will die and fish will play at the steps of Puri temple”.

Ratnagiri

    Ratnagiri is a famous Buddhist religious spot of Jajpur located near the Udaigiri and Khandigiri caves. The architectural style of the temple seems to hint towards the fact that it was built during the rule of Gupta Dynasty in India. The temple ages back to the 6th century AD and seems to have been built for the Mahayana sect of Buddhism. This temple stands as a mark of how Buddhism was spreading in India during those times because of the patron rulers. The temple has numerous amusing sculptures of Buddhism placed strategically throughout the complex.

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