Apply Asha Home Loan online in Axis Bank

✔ Minimum Income Requirements
✔ Avail of loans with a combined monthly income of Rs. 8,000/Rs. 10,000
✔ 85% Property Value Loan
✔ For loans upto Rs. 28,00,000
✔ Minimum - Rs. 1,00,000
✔ Maximum - Rs. 28,00,000
✔ Floating Rate Loan: Nil
✔ Fixed Rate Loan: 2% of outstanding principal/amount prepaid

Asha Home Loan Features and Benefits

Starting as low as 9.75%
Home loans can be used to purchase an under construction/ready/resale house, repair/extension, self construction and plot plus construction.
On loans upto Rs. 28,00,000, avail of a loan equal to 85% of the property value
12 EMIs waived off* at no extra cost on regular payment of EMIs. 4 EMIs waived off at the end of the 4th, 8th & 12th year. Repayment track record should be clean, i.e., only 3 instances where dues are pending for 30 days and above but never over 90 days during the life of the loan. The minimum tenure at the time of disbursement should be 20 years. Loan can also be part paid, as long as the loan tenure does not fall below 48 months (4 years).
Move existing home loans to Axis Bank without any trouble with a good repayment track record
Upto 30 years, allowing for higher eligibility
At least Rs. 8,000 p.m. or Rs. 10,000 p.m. depending on location
Based on banking behaviour, providing better eligibility
Properties starting from 300 (saleable) sq. ft. area
Choose from our large base of approved projects across India

Terms and conditions

Loans upto Rs. 28 lakhs for locations with population above 10 lakhs and loans upto Rs. 20 lakhs for locations with population upto Rs. 10 lakhs
Minimum income norm varies from Rs. 8,000 p.m. to Rs. 10,000 p.m. depending on location
*Repayment period for Home Loans shall not exceed 30 years
Equitable mortgage of the property to be financed by way of deposit of title deeds
The loan will be disbursed in full or in suitable instalments, taking into account the requirement of funds and progress of construction, as assessed by the Bank directly to seller or builder or local development authority or supplier of materials etc.
Processing fee equivalent to 1% or Rs 10000/- (whichever is higher) of the loan amount (applied for) will be collected along with the application form (Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable))
Nil on floating interest rate Home Loans
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, and is submitted along with all the documents as per 'check list' provided in the application for loan and/or any additional documents as may be required by the bank for proper appraisal of the application. 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

Asha Home Loan Eligibility and Documentation

Individuals with a combined income of Rs. 8,000 or above.Minimum combined income of Rs.8, 000pm. Salaried, Professionals & self employed individuals.

	Asha Home Loan
Minimum loan amount	Minimum: Rs 1 Lac
Maximum loan amount	Maximum: Up to Rs. 28 Lacs

Borrowing Limits

15% margin on loans up to Rs.30 lakh

Keep your documents ready

Document Needed	Salaried	Self Employed
Proof of identity	Valid passport/Voter’s ID/Valid Driving license with photo graph /Pan card /Aadhar card
Proof of Income	Latest 3 months salary slip / certificate for fixed salary/Latest Form 16 -and- Last 6 months bank statement/Passbook of the salary account	IT- returns for the last 2 years along with computation of income certified by CA -and- Last 6 months Bank statement for operative account both personal and business.
Proof of Residence	Latest Electricity bill/ utility bill/ piped gas bill/ telephone bill/ Passport/(Not more than 2 months old), Passport/Aadhar card/ Voter ID/ Driving License.

Asha Home Loan Interest Rates and Charges

Floating Rate of Interest	MCLR plus Mark-up	Effective Interest Rate (p.a)
Salaried customers (Vanilla Variant)	MCLR + 1.60%	9.75% p.a
Self Employed customers (Vanilla Variant)	MCLR + 1.80%	9.95% p.a
Salaried customers (All other variant)	MCLR + 2.35%	10.50% p.a.
Self-Employed (All other variant )	MCLR + 2.35%	10.50% p.a.
Marginal Cost Based Lending Rate - 8.15% MCLR Reset frequency for Home Loans - Half Yearly Base Rate - 9.00% Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.

Other Charges**

Description of charges	Amount (Rs.)
Processing Fee Charges	Up to 1% of the Loan amount subject to minimum of Rs.10,000/-
Penal Interest Rate	@24 % per annum, 2% per month
Switching Fees (Base Rate/BPLR to MCLR)#	When effective rate is to be kept the same - No fees When effective rate is to be revised - 0.5% on outstanding principal with minimum of Rs 10000/-
Switching Fees (Floating Rate to Fixed Rate)#	1% on the outstanding principal with a minimum of 10,000/-
Switching Fees (Fixed Rate to Floating Rate)#	2% on the outstanding principal amount
Switching Fees (Higher Floating Rate to Lower Floating Rate )#	Switching Fees (Higher Floating Rate to Lower Floating Rate )#
Switching Fees (Higher Floating Rate to Lower Floating Rate )#	0.5% on outstanding principal with minimum of `10,000/-The lower rate will be equal to the applicable carded interest rate only
Repayment Instruction/Cheque Return charges	500/- Per Instance
Cheque/Instrument Swap Charges	500/- Per Instance
Duplicate Statement Issuance Charges	250/- Per Instance
Duplicate Amortization Schedule Issuance Charges	250/- Per Instance
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges	250/- Per Instance
Issuance Charges of Credit Report	50/- Per Instance
Issuance Charges for Photocopy of title documents	250/- Per document set
Charges on customer initiated requests for copies of documents	250/- Per document set
Prepayment Charges including part prepayment for floating rate loan	NIL
Prepayment Charges for fixed rate loan	2% of the principal outstanding
Equitable Mortgage Creation Charges As applicable in the	As applicable in the state
CERSAI charges	Rs 50/- For Loans up to 5 Lakhs Rs 100/- For Loans above 5 Lakhs