Apply for Empower Home Loan Online in Axis Bank
- Location: Kolkata, West Bengal, India
✔ Assured Rate Reductions
✔ Maintaining a good repayment track for 24, 36 and 60 months
✔ No Prepayment Charges
✔ No extra charges on early closure
✔ Balance Transfer Facility
✔ Transfer an existing home loan to Axis Bank without any hassle
✔ Minimum - Rs. 10,00,000
✔ Maximum - Rs. 1,50,00,000
Empower Home Loan Features and Benefits
Get assured rate reductions
3, on maintaining a good repayment track for 24, 36 and 60 months from the date of first disbursement to avail the 1st, 2nd and 3rd rate reduction respectively
Use the loan for a house that’s ideal for you
Home loans can be used to purchase an under construction/ready/resale house, self-construction, plot plus construction or home extension and improvement
Enjoy affordable interest rates on home loans
Starting as low as 9.25%
Avail of doorstep service
Get a home loan from the comfort of a house or office
Pay off your home loan with nil prepayment charges
No charges for early closure
Quick and easy loans on the basis of your banking balances and repayment track record
Get your loan faster than you expect
Empower Home Loan Eligibility & Documentation
Eligibility
Resident self-employed customers (professionals and non-professionals) are eligible for an Empower Home Loan
Check your borrowing limits
- Minimum Limit - Rs. 10,00,000
- Maximum Limit - Rs. 1,50,00,000
- As per average banking balances
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 (Not more than 2 months old)/ Passport/Aadhar card/ Voter ID/ Driving License. | |
Empower Home Loan Interest Rates and Charges
| Sr. No | Loan amount (Rs.) | MCLR + Mark Up | Effective Rate of Interest |
|---|---|---|---|
| 1 | All Loan Amounts | MCLR + 1.10% | 9.25% |
| Marginal Cost Based Lending Rate (MCLR) - 8.15% MCLR Reset frequency for Home Loans - Half Yearly Base Rate - 9.05% 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. | |||
| 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)# |
|
| Switching Fees (Floating Rate to Fixed Rate) | NA |
| Switching Fees (Fixed Rate to Floating Rate) | NA |
| Switching Fees (Higher Floating Rate to Lower Floating Rate ) | NA |
| Switching Fees (Higher Floating Rate to Lower Floating Rate ) | NA |
| 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 |
* Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
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