Shubh Aarambh Home Loan in Axis Bank
- Loan ID : N0116
- 25
- 0
- Home Loan
- State : Gujarat
- City : Gandhinagar
✔ 12 months waived off
✔ 4 EMIs waived off at the end of the 4th, 8th & 12th year
✔ Balance transfer facility
✔ Transfer an existing home loan to Axis Bank without any hassle and avail this facility
✔ PMAY Benefits
✔ Option to avail government aided interest benefit on qualifying under Pradhan Mantri Awas Yojana criteria
✔ For Home Loans Upto Rs. 30 Lakh
✔ Exclusively for Home Loans upto Rs. 30 Lakh
Shubh Aarambh Home Loan Features and Benefits
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).
Shubh Aarambh Home Loan Eligibility and Documentation
- Minimum loan tenure of 20 years at the time of disbursement
- Maximum loan upto Rs.30 Lacs
- Clean track record during the life of the loan i.e. (a) Not more than 3 instances of any customer dues pending for 30 days and above (b) No instance of any customer dues pending for 90 days and above
- Loan should be live for the minimum stipulated period of 48 months from the date of disbursement to avail waiver benefit
- Salaried and Self employed customers are eligible
- No penal interest / other charges to be due from borrower. The waiver to be passed on only when all additional dues are cleared
CHECK YOUR BORROWING LIMITS
- Minimum Limit – Rs. 1,00,000
- Maximum Limit – Rs. 30,00,000
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. |
Shubh Aarambh Home Loan Interest Rates and Charges
For Salaried:
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. |
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. |
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 - 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)# | 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 )# | 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 |
** 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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