+91-9825600907

Axis Bank Home Loan

 

The third largest private sector bank in India, Axis Bank offers a minimum loan of Rs. 3 Lakhs and a maximum depending on the combined income of the applicants. The Axis Bank Home Loan comes with no prepayment charge for floating and charges 2% of the outstanding principal amount prepaid on fixed interest rate housing finance. The application process is easy and you can even transfer your existing Best Home Loan from another lender to Axis Bank without hassles through Home Loan Balance Transfer facility.

Types of Axis Bank Home Loans

 

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

 

Eligibility

 

  • Eligibility for salaried individuals
  • Individuals must be in permanent service under the Government/ reputed companies
  • Applicants must be of minimum 21 years of age when applying for the loan and maximum 60 years or superannuation, whichever is earlier (65 years for self-employed) at loan maturity.
  • Eligibility for professionals
  • Individuals must be professionals like doctors, architects, dentists, engineers, chartered accountants, cost accountants, management consultants, and company secretary
  • Applicants must be of minimum 21 years of age when applying for the loan and maximum 65 years at loan maturity.

 

Eligibility for self-employed individuals

  • Individuals must be filing ITR
  • Applicants must be of minimum 21 years of age when applying for the loan and maximum 65 years at loan maturity.
  • Interest Rate, Processing Fee and Other Charges

 

The current Axis Bank Home Loans interest rates are

  • For salaried individuals: 7.35% to 8.40% (floating interest rate) and 12% (for 20 years fixed interest rate)
  • For self-employed individuals: 7.95% to 8.55% (floating interest rate) and 12% (for 20 years fixed interest rate)

 

Processing fees

  • Up to 1% of the sanctioned loan amount (or minimum Rs. 10,000).
  • 5000 + GST will be collected as non-refundable upfront processing fee at the time of application login and balance amount will be collected at loan disbursement.

 

Other charges

  • Prepayment charges: NIL for floating interest rate; 2% of the principal outstanding for fixed interest rate.
  • Penal interest rate: 24% p.a., 2% p.m.
  • Fees for switching from floating to fixed rate): 1% of the principal outstanding (minimum Rs. 10,000)
  • Fees for switching from fixed to floating rate): 2% of the principal outstanding
  • Fees for switching from BPLR or Base Rate to MCLR: No fees if effective rate kept unchanged; 0.5% of the principal outstanding (minimum Rs. 10,000) if effective rate is revised.
  • Fees for switching from higher floating rate to lower floating rate: 0.5% of the principal outstanding (minimum Rs. 10,000).
  • Charges for Cheque return or repayment instruction: Rs. 500/instance
  • Charges for Cheque or instrument swap: Rs. 500/instance
  • Charges for issuance of duplicate statement/ amortisation schedule/ interest certificate (actual/provisional): Rs. 250 per instance
  • Credit report issuance fee: Rs. 50/instance
  • Charges for issuance of Title document photocopy / customer requests for documents copy: Rs. 250/document set
  • CERSAI charges: Rs. 50 for loans up to Rs. 5 Lakhs and Rs. 100 for loans above Rs. 5 Lakhs
  • Charges for duplicate NOC issuance: Rs 500/instance + GST

Documents Required

  • Common documents for all applicants
  • Duly filled application form
  • 2 recent passport-sized photographs
  • Identity Proof
  • Address Proof
  • Date of Birth Proof
  • Poof of Signature
  • Income documents for salaried applicants (Indian Residents)
  • Last 3 months salary slip
  • Last 6 months pay slip/ 2 years bonus proof (for variable pay)
  • Bank statement for the last 6 months showing salary credited
  • Form 16 of last 2 years/ job continuity proof

 

Income documents for salaried applicants (NRIs)

  • Last 3 months salary slip
  • Appointment letter/ contract letter
  • Continuous Discharge Certificate (needed for Shipping cases)
  • 6 months international salary account statement
  • 6 months Domestic NRE or NRO account statement
  • Valid copy of Visa or OCI card
  • Passport copy
  • Overseas credit report
  • POA details

Income documents for self-employed applicants

  • Last 2 years ITR, computation of income, P&L, and balance sheet with CA’s seal & sign
  • Last 6 months bank statements (of personal & business accounts)
  • CPC & tax paid challan (if ITR filed without a digital sign)
  • Last 3 years business continuity proof
  • 1 year’s ITR, computation of income, P&L, balance sheet with CA’s seal & sign (for Asha Home Loan)
  • Tax Audit Report: If Gross Turnover exceeds Rs. 1 Crore or gross receipts exceed Rs. 25 Lakhs

Documents for Home Loan Balance Transfer

  • 12 months loan account statement with latest outstanding letter
  • Details of existing loans (if any) & bank statement for the last 6 months from where EMI is being deducted.

Documents for Lease Rental Discounting

  • Last 6 months bank statement of the account where rent is credited
  • Registered valid lease agreement
  • 2 years ITRs, P&L, balance sheet, computation of income, with CA’s seal & sign
  • 1 year 26 AS
  • 2 years audited financials, operative account, KYC, partnership authority letter, and partnership deed (for partnership firm).
  • Documents for Partner(s) of a Firm
  • Partnership deed, list of partners, and NOC in Axis Bank format
  • Audited ITRs for partnership firm and complete financials
  • Partnership authority letter on the letterhead of the Firm signed by all partners (if Firm is guarantor).
  • Documents for Directors in a Company
  • For the company: Last 2 years ITRs, P&L, balance sheet, computation of income, with CA’s seal & sign.
  • Tax Audit Report if Gross Turnover exceeds Rs. 1 Crore or gross receipts exceed Rs. 25 Lakhs
  • Board Resolution in Axis bank format (if Company is applicant)
  • AOA, MOA, and Certificate of Incorporation
  • DIN of all Directors
  • Board Resolution of Company (in Axis bank format)
  • Latest Share Holding Pattern (must be signed by the Company secretary or List of Directors)
  • Other documents:
  • Aadhaar Card
  • PAN Card
  • Processing fee
  • CERSAI cheques

Note :- Borrowers’ self-attestation on all submitted documents

Why to Choose Axis Bank Home Loan?

  • Attractive interest rates
  • Ability to choose your interest rate type
  • Quick and easy application process
  • Ease of transferring your existing loan balance to Axis Bank
  • No prepayment charges
  • Smaller EMIs

 

FAQs

What is the minimum Home Loan amount that I can borrow from Axis Bank?

You can avail Home Loan amount starting at Rs. 3 Lakhs from Axis Bank

What is the maximum top-up amount I can get on my existing Axis Bank Home Loan?

The maximum top-up amount on the existing Axis Bank Home Loan is Rs. 50 Lakhs

What is the maximum loan amount offered under Asha Home Loan?

The maximum loan amount offered under Asha Home Loan is Rs. 28 Lakhs

What is the maximum repayment tenure for Empower Home Loan?

The maximum repayment tenure for Empower Home Loan is up to 15 years

What is the lowest EMI per Lakh for Axis Bank Home Loan?

The lowest EMI an applicant can get per Lakh is Rs. 794

 

For More Details
Feel Free to Call
Deepak Kumar
08069192000 , +91-9825600907

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