




✔ Smaller EMIs
✔ Space out your payments and avail smaller EMIs paid over longer tenure
✔ Minimum - Rs. 3,00,000
✔ Maximum - Depends on combined income
✔ Prepayment Charges
✔ Floating Rate Loan: Nil
✔ Fixed Rate Loan: 2% of outstanding principal/amount prepaid
✔ Interest Rate Applicable
✔ Floating and Fixed
Bank Home Loan Features and Benefits
Avail attractive interest rates
Make your housing loans affordable and easier on your pocket every month with attractive home loan interest rates
Choose your interest rate type
Fixed and floating home loan interest rates available as per your preference
Transfer loan balance with ease
Transfer your Home Loan to Axis Bank, without any hassles
Get service at your doorstep
Avail or repay the home loan from the comfort of your home or office
Pay no prepayment charges
No prepayment charges for paying off loans before the due date (only for loans availed at floating rate of interest)
Be assured of quick, transparent processing
Premium banking customers can contact their Relationship Manager for details of special benefits
Repay your loan over a longer tenure
Repay your home loan in smaller EMIs, over a longer tenure, depending on the situation of your finances
Earn eDGE Loyalty Points
eDGE Loyalty Rewards points for transactions and 500+ rewards and offers to redeem points.
Earn points for these transactions:
When you take a home loan
500 points if disbursal is less than or equal to 25 lakhs
1000 points if disbursal is greater than 25 lakhs but less than or equal to 75 lakhs
2000 points if disbursal is greater than 75 lakhs When you take a top-up home loan
250 points if disbursal is less than or equal to 25 lakhs
500 points if your disbursal is greater than 25 lakhs but less than or equal to 75 lakhs
1000 points if disbursal is greater than 75 lakhs On every anniversary year of your Home Loan
100 points on completion of the 1st year
200 points on completion of the 2nd year
300 points on completion of the 3rd year
400 points on completion of the 4th year
500 points on completion of the 5th year, 6th year, 7th year and so on until the closure of the loan
Bank Home Loan Eligibility & Documentation
Salaried individuals eligible for home loan
Individuals in permanent service in the Government or reputed companies fall under the home loan eligibility criteria.
Applicants should be above 21 years of age at the time of loan commencement and up to the age of 60 or superannuation, whichever is earlier at the time of loan maturity.You can check the amount you need to pay as EMI with the home loan EMI Calculator.
Professionals eligible for home loan
Professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply
Applicants above 21 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity meet our housing loan criteria
Self-employed individuals eligible for home loan
Any individual filing income tax returns can apply
Applicants should be above 21 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
Borrowing Limits
Minimum - Rs. 3 lakhs
Margins
For loan upto Rs. 30 lakhs - 10%
For loan above Rs. 30 lakhs to upto Rs. 75 lakhs - 20%
For loan above Rs. 75 lakhs - 25%
Following are the documents required in order to apply for a home loan.
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. |
Bank Home Loan Interest Rates and Charges
Following are the home loan interest rates and charges.
Housing interest rates & charges, are divided into salaried & self-employed individuals.
For salaried individuals
Sr. No | Type | Loan amount (Rs.) | MCLR + Mark Up | Effective Rate Of Interest |
---|---|---|---|---|
1 | Floating Rate | Loan amount upto Rs 30 lacs | MCLR + 0.20% | 8.35% p.a. |
Loan amount upto Rs 75 lacs | MCLR + 0.50% | 8.65% p.a. | ||
Loan amount above Rs 75 lacs | MCLR + 0.55% | 8.70% p.a. | ||
Top Up for existing customers | Upto 30%- Same rate at which the home loan is running 30%-100%- LAP rate shall be applicable |
For Self Employed
Sr. No | Type | Loan amount (Rs.) | MCLR + Mark Up | Effective Rate Of Interest |
---|---|---|---|---|
1 | Floating Rate | Loan amount upto Rs 30 lacs | MCLR + 0.25% | 8.40% p.a. |
Loan amount upto Rs 75 lacs | MCLR + 0.55% | 8.70% p.a. | ||
Loan amount above Rs 75 lacs | MCLR + 0.60% | 8.75% p.a. | ||
Top Up for existing customers | Upto 30%- Same rate at which the home loan is running 30%-100%- LAP rate shall be applicable | |||
Marginal Cost Based Lending Rate (MCLR) – 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)# |
|
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 |
# For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed portion of sanctioned amount.
** 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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