Home  »  Banking  »  Loans  »  Home Loan  »  Axis Bank Home Loan

Axis Bank Home Loan

The Axis Bank offers home loans to salaried as well as non – salaried individuals at attractive interest rates which range between 8.95% - 12.00%. The bank provides the borrowers to repay the loan in easy equated monthly instalments which is spread over a long period of 30 years. 

Loan Name Interest Rate Processing Fee Loan Amount Tenure
Axis Bank Home Loan 8.95% - 12.00%, Fixed/Floating 1% of the loan amount (minimum of Rs 10,000) Above 75 lakhs 1-30 Years
Details
Documents Required

For Salaried Individuals:

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card, PAN Card, Aadhaar Card
  • Proof of Residence: Utility Bills including Electricity bill, water bill, telephone bill, Passport, Aadhaar Card, Election Voters ID, Driving License 
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Last 6 months Bank statement showing salary credits, latest Form 16 and Income Tax Returns, Recent 3 months Salary Slips
  • Bank statements for the last 6 months

For Self Employed Individuals:

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card, PAN Card, Aadhaar Card
  • Proof of Residence: Utility Bills including Electricity bill, water bill, telephone bill, Passport, Aadhaar Card, Election Voters ID, Driving License
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Income Tax returns for the last 2 years along with the computation of income certificate by a Chartered Accountant
  • Bank statements for the last 6 months which includes details of both personal and business transactions.
Benefits

  • The applicant can choose either floating or fixed interest rates as per their preference.
  • Get attractive interest rates
  • Affordable home loans
  • Equated Monthly Installments (EMI) will be easy on the borrower's pockets
Eligibility

For Salaried Individuals

  • Applicants should be employed in government or reputed organizations to secure home loans in Axis Bank.
  • The age of the applicant should be minimum of 21 years.
  • The maximum age of the applicant at the time of loan maturity should be 60 years or supper annuation (whichever is earlier).

For Professionals

  • Professionals who are eligible to secure a home loan from Axis Bank includes Doctors, Architects, Dentists, Engineers, Chartered Accountant, Management Consultants, Company Secretariat and so on.
  • The minimum age of the applicant should be 21 years at the time of securing a home loan.
  • The maximum age of the applicant at the time of loan maturity should be either 65 years or less (whichever is earlier).

For Self-Employed Individuals

  • Those applicants who file income tax returns can apply for the home loan in Axis Bank.
  • The applicant's minimum age should be 21 years at the time of securing the home loan.
  • The age of the applicants at the time of maturity of home loan should be 65 years or less.
Other Details

  • Processing Fee charges are up to 1% of the loan amount (minimum of Rs 10,000)
  • Upfront processing fee: Rs 2,500 + GST charges will be collected at the time of application login.
  • Penal interest rates: 24% per annum (2% per month)

Q: Why would a loan application be rejected?

A: Important points that can play a crucial role in home loan rejection:

  • Previously rejected loan applications in banks
  • Low credit score
  • Failing to file an income tax returns
  • location of the property should be near lender terms and conditions.
  • Poor repayment capabilities.
  • Insufficient income

Q: Who can co-sign with me?

A: Only blood relatives can co-sign ion home loan .your family members like father, mother, siblings can co-sign a home loan instead of them your wife, children also can do co-signatures along with you.

Q: Is home loan good for the tax benefit?

A: Yes, the tax benefit is the best part of the home loan. The interest amount paid towards home loan is tax exempted under section 24. Accrual basis is considered for Tax deduction Rs.2 lakhs is the maximum tax exemption available under this session.

Q: What are the charges in Axis bank home loan?

A: Some of the charges collecting while applying for the home loan :

  • Processing fee charges-up to 1% of the loan amount.
  • Penalties for the payment delay-2% per month and 24% per annum
  • Cheque bounce charges-Rs.500

Q: What is the maximum loan amount one can get from axis bank?

A: The maximum home loan depends on both incomes like property value, as well as personal income. The minimum amount offered by the axis bank is Rs.3 lakhs.

Find IFSC


More Headlines

Get Latest News alerts from Goodreturns

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more