If you’re planning to buy a flat, plot, renovate your house, or construct a new home, you’ve come to the right place. This blog provides a comprehensive guide on Axis Bank Home Loan, detailing everything you need to know, including interest rates, required documents, eligibility criteria, tenure, loan amount, application process (both online and offline), processing fees, FAQs, and customer care information.
Before choosing a home loan from any bank, it’s crucial to be well-informed about the features, rates, charges, process, and preclosure rules. We encourage you to read through the entire blog to gain a thorough understanding of Axis Bank Home Loan, helping you make a well-informed decision.
Axis Bank Home Loan Details
Axis Bank Home Loans start at a Minimum of Rs. 3,00,000 and come with a host of features like smaller EMIs, longer tenure, attractive interest rates, an easy application process, doorstep service, etc.
| Loan Amount | Rs 3,00,000 to Rs 5 crore |
| Loan Tenure | Up to 30 years |
| Floating Interest Rate | 8.70% to 9.10% per annum |
| Fixed Interest Rate | 14% per annum |
| Processing Fees | Up to 1% of the loan amount +GST (minimum Rs 10,000) |
Axis Bank Home Loan Interest Rate
Axis Bank offers home loans to Salaried and self-employed customers at Floating Interest rates and fixed interest rates.
Axis Bank Home Loan Interest Rate For Salaried
| Type | Credit Score | Effective Rate of Interest |
| Floating Rate | 751 & Above | 8.70% to 9.10% per annum. |
| Fixed Rate | All Loan Amounts | 14% p.a. |
AXIS Bank Home Loan Interest Rates on Loan Against Property
For Term Loans
| Type | Repo Rate + Spread | Effective Rate of Interest |
| Floating Rate- PSL Category | Repo Rate + 4.00% to Repo Rate + 4.40% | 10.50% to 10.90% Per Annum |
| Floating Rate- Non-PSL Category | Repo Rate + 4.00% to Repo Rate + 4.45% | 10.50% to 10.95% Per Annum |
Axis Bank Home Loan Interest Rate For Self-Employed
| Type | Repo Rate + Spread | Effective Rate of Interest |
| Floating Rate | Repo Rate + 2.80% to Repo Rate + 3.15% | 10.50% to 10.90% Per Annum |
| Fixed Rate | All Loan Amounts | 14% p.a. |
Axis Bank Home Loan Calculator
Before finalizing the home loan it is always better to check the EMI amount you will have to pay every month. For your understanding, I have calculated the EMI at 8.70% per annum for different home loan amounts.
You can click here and check the EMI amount on the below link.
AXIS BANK HOME LOAN EMI CALCULATOR
AXIS Bank Home Loan Calculator
Interest Rate @ 8.70%
| Loan Amount | 10 years Tenure / EMI | 20 years Tenure / EMI | 30 years Tenure / EMI |
| 50,00,000 | Rs 62,529 | Rs 44,026 | Rs 39,157 |
| 75,00,000 | Rs 93,793 | Rs 66,039 | Rs 58,735 |
| 1,00,00,000 | Rs 1,25,058 | Rs 88,052 | Rs 78,313 |
| 1,50,00,000 | Rs 1,87,587 | Rs 1,32,078 | Rs 1,17,470 |
| 2,00,00,000 | Rs 2,50,116 | Rs 1,76,105 | Rs 1,56,626 |
- Also Read – SBI Home Loan: Interest Rate, Eligibility, Tenure, Documents
- Also Read – HDFC Home Loan complete details
AXIS Bank Home Loan Processing Fees –
Axis Bank Home Loan Processing Fees is Up to 1% of the loan amount +GST (minimum Rs 10,000 or whichever is higher)
AXIS Bank Home Loan Eligibility
Axis Bank provides loans to Salaried, Professionals, and Self-employed individuals and their eligibility criteria are different.
AXIS Bank Home Loan Eligibility for Salaried Individuals
- 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 must pay as EMI with the Home Loan EMI Calculator.
AXIS Bank Home Loan Eligibility for Professionals
- Professionals such as doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants only, meet the Axis Bank Home Loan eligibility criteria.
- Applicants above 21 years of age at home loan commencement and up to 65 years or less at home loan maturity meet our home loan eligibility criteria.
AXIS Bank Home Loan Eligibility for Self-employed Individuals
- Any individual filing income tax returns can apply
- Applicants should be above 21 years of age at the time of the commencement of the home loan and up to 65 years or less at the time of maturity of the home loan.
AXIS Bank Home Loan Documents
You will have to submit the required documents twice, once while applying for a Home loan or before a home loan sanction and after your home loan is approved that is before the disbursement of the home loan.
Documents Required Before Sanction
KYC Documents
Any one of the following documents.
- Passport
- Driving License
- Aadhar Card
- Voter ID
- Job Card by NREGA signed by an officer of the State Government
- Letter issued by the National Population Register containing details of Name, Address
Date of Birth Proof
Any one of the following documents.
- Passport
- PAN Card
- Driving License
- Aadhar Card
- Birth Certificate
- SSC Marksheet
Proof of Income for Salaried
- Latest 2 months’ pay slip
- Latest 6 months pay slip / 2 yrs bonus proof (in case of variable pay)
- Latest 6 months’ bank statement showing salary credits
- Latest 1 yrs Form 16 (or employment continuity proof) with Auth./Digital Signature
Proof of Income for Self-Employed
- 2 yrs ITR, Computation of Income, P&L, Balance sheet (with applicable schedules) with CA seal and sign
- For Asha HL – 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
- Tax Audit Report (If Gross Turnover Exceeds Rs. 1 Cr or Gross Receipts Exceeds 25 Lac)
- 6 months’ bank statements of personal and business accounts
- If ITR is filled withouta digital sign – CPC and tax paid challan
- Business continuity proof (3 yrs for HL/ LAP)
- Existing loan details and 6 months’ bank statement from where EMI is deducted
- Latest Share Holding Pattern duly signed by Company secretary / List of Directors
Proof of Income for NRI Salaried
- 3 months pay slip
- Appointment letter/contract letter
- Continuous Discharge Certificate for Shipping cases
- 6-month Domestic NRE / NRO A/c statement
- 6-month international salary A/c statement
- Overseas credit report
- Valid visa copy / OCI card
- Passport copy
- POA details
Documents for Balance Transfer / Takeover of Loan from other banks / financial institution
- Existing loan details and 6 months’ bank statement from where EMI is deducted
- Document showing applicant / co-applicant on loan structure- Sanction letter/ SOA/ RPS/ Loan Agreement Copy
Documents for Lease Rental Discounting
Any one of the following:
- 6 months Bank Statement where Rent is getting credited
- Registered Valid Lease agreements
- Latest 2 Years ITRs’, Computation of Income, P&L, Balance sheet with all schedules with CA seal and sign
- 26 AS Last 1 Year
- Last 12 Months SOA in case of BT Proposal along with latest outstanding
- If Partnership Firrm -2 yrs audited Financials & operative account
Documents Where Applicants are Partners /Directors / Partnership Firm /Pvt Ltd. Co.
For Partner / Partnership Firm
- Partnership Deed, List of Partners, NOC as per Axis Bank format
- Partnership Firrm’s audited along with complete financials
- Partnership authority letter on the letterhead of the Firm signed by all partners in case
- Firm to stand as guarantor
Director / Pvt Ltd Company
- Board Resolution (if Company is the applicant) as per Axis Bank format
- Certificate of Incorporation, MOA, AOA
- DIN of all Directors / Board Resolution if Company is the applicant (as per Axis bank format)
- For the company – Latest 2 yrs ITR, Computation of Income, P&L, Balance sheet with all schedules with CA seal and sign
- Latest Share Holding Pattern duly signed by Company secretary / List of Directors
- Tax Audit Report (Where Gross Turnover Exceeds Rs. 1 Cr or Gross Receipts exceeds 25 Lac)
Other Important Documents and Checks
- Filled and duly signed application form along with all applicant’s latest passport size photo
- Self-attestation of borrowers on all documents and Original seen and verified seal along with Signature on all the Documents submitted
- Processing Fees
- PAN card for financial applicants (Individuals and Non-Individuals) and Passport and VISA for NRI are mandatory
- Aadhar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants
- Declaration in respect of relation with director/ senior officer of the bank / any other to be mandatorily filled in the Application form
- BO Declaration along with Application Form and KYC to be collected for Beneficial Owner(s) where Non-Individual entity is on loan structure
- UDIN is required where the document is CA-attested
Documents to be submitted Before loan disbursement
Loan Agreement and Annexures
- Loan agreement as per product type
- Annexures to be duly filled, signed & stamped as per state law:
– MII (Most Important Information) pages
– MCLR consent letter
– Schedule of loan agreement
– List of Documents (LOD)
– Loan restriction letter (if any)
– Disbursement request letter
– For NRIs
– franked GPA document
– Indemnity for under-construction cases in plot loans
– Guarantor agreement (if applicable)
- Any alteration/correction to be authenticated by applicants
National Automated Clearance House (NACH) mandate/ Standing Instruction (SI) form and Security Cheques (SPDC)
- NACH / SI mandate with a signed cancelled cheque with the A/C holder’s name as per bank records
- SPDC – 3 updated security PDCs equivalent to the EMI amount
– 1 undated cheque with the amount kept blank
– 1 cheque towards PEMI amount
- SPDC favouring “AXIS BANK LTD LOAN A/C Customer Name
Processing Fee / Equitable Mortgage cheques
- Balance processing fee cheque (with clearance details)
- Equitable mortgage charges/stamping charges favouring “AXIS BANK LTD A/C SERVICE CHARGES”
Property Documents –
Property documents as per the type of transaction, according tothe bank’s policy
For Balance Transfer / Takeover of loans from other banks / financial institutions
- The original list of documents from the previous financier
- Latest 12 months loan A/C statement with the latest outstanding letter
- Existing loan details and 6 months’ bank statement from where EMI is deducted
- Indenture of guarantee, the undertaking of indemnity, forwarding letter and Annexures in Axis Bank format
Own Contribution Receipts
- Own contribution receipts
- Bank statement reflecting debit of own contribution paid
Sanction Letter
- Duly accepted and signed by all applicants/power of attorney
- All sanction conditions to be met
TDS
- If TDS is being paid by the applicant – the TDS challan & bank statement reflecting the debit of TDS paid
- If TDS is not paid by the applicant – Undertaking cum indemnity to deduct TDS amount from disbursement
PSL Documents
- Financial documents (any of the below):
– Audited balance sheet
– CA certificate – original investment in Plant & Machinery
– Copy of invoice (investment in Plant & Machinery)
- Additional documents (any of the below):
– Audited / Unaudited (Profit & Loss Account)
– GST registration certificate
- For LAP cases – PSL Annexures
Other Documents (to be collected if applicable)
- Letter from customer towards opting for EMI in case of partly disbursed case
- Vernacular/indemnity bond
- Dual name/dual sign affidavit
- Credit Linked Subsidy Scheme (PMAY) affidavit
- Amenities agreement duly signed by 3rd party/sellers
- End-use letter for Top Up/LAP/LAP top-up cases
Types of AXIS Bank Home Loan
AXIS Bank Home Loan
The Axis Bank Home Loan is a standard offering designed for salaried individuals, professionals such as doctors, engineers, company secretaries, and self-employed individuals. Customers can choose between fixed and floating interest rates, with a loan tenure of up to 30 years.
AXIS Bank QuickPay Home Loan
The Axis Bank Home Loan allows you to repay a larger portion of the principal early in the loan tenure, reducing your monthly instalment progressively and helping you save significantly on interest. The maximum loan amount offered is up to ₹5 crores, with a maximum tenure of 30 years.
AXIS Bank Shubh Aarambh Home Loan
The Axis Bank Home Loan under the Shubh Aarambh scheme offers swift and hassle-free disbursals, along with the benefit of an interest subsidy for those eligible under the Pradhan Mantri Awas Yojana. Borrowers who maintain a clean repayment track can enjoy a waiver of 12 EMIs, with 4 EMIs waived at the end of the 4th, 8th, and 12th years. The minimum tenure at the time of loan disbursement must be 20 years. The scheme provides a maximum loan amount of ₹30 lakhs with a tenure of up to 30 years.
AXIS Bank Fast Forward Home Loan
With the Axis Bank Home Loan under the Fast Forward scheme, you can maximize your loan amount by combining incomes. This loan offers the benefit of a 12 EMI waiver for consistent EMI payments. After completing 10 years of regular EMIs, you become eligible for a 6-month EMI waiver, and an additional 6-month waiver is granted after 15 years of regular payments. The minimum tenure at disbursement must be 20 years. The loan amount ranges from ₹30 lakhs to ₹5 crore, with a maximum tenure of 30 years.
AXIS Bank Asha Home Loan
The Axis Bank Home Loan under the Asha scheme starts at an interest rate of 10.05% per annum, with a maximum tenure of 30 years. This loan allows for a maximum amount of ₹35 lakhs, which can be used for purchasing under-construction, ready, or resale homes, as well as for repairs, extensions, self-construction, and plot plus construction. You can avail up to 90% of the property value. If the loan tenure is 20 years or more at the time of disbursement, you are eligible for a 12 EMI waiver, with 4 EMIs waived off at the end of the 4th, 8th, and 12th years. To qualify, the combined monthly income should be over ₹8,000.
Axis Bank Top-up Home Loan
As an existing Axis Bank Home Loan customer you can avail of a Top-up loan facility of up to Rs 5,00,000 and the top-up amount can be used for the construction of Residential/commercial property, for personal requirements and business purposes. Loan tenure will be the same as the existing home loan tenure.
Axis Bank Super Saver Home Loan
Super Saver Home Loan helps you save the total interest payable on your Axis Bank Home Loan. You will get a chequebook, ATM, internet, and phone banking along with this loan. You will get a Super Saver account with this loan and when you deposit any amount in this account, the principal amount will be reduced and interest will be applicable on the reduced principal amount. The excess money parked in the Super Saver account can also be withdrawn on the requirement. The minimum loan amount is Rs 10 lakhs and the maximum tenure allowed under the scheme is 20 years. Also, there are no pre-closure charges if you select floating interest rates.
AXIS Bank Power Advantage Home Loan
Power Advantage Home Loan offers you a fixed rate of interest for the first 2 years and then a floating interest rate for the rest of the term. The Maximum loan amount available under this scheme is Rs 5 crores and the maximum tenure is 30 years. Interest subsidy under Pradhan Mantri Aws Yojana (PMAY) is available.
AXIS Bank Home Loan Features
- Attractive Interest Rates.
- Fixed and Floating rate options.
- Online & Offline application process.
- Balance Transfer Facility.
- Doorstep service.
- Zero Pre-payment charges.
- Longer tenures of up to 30 years.
How to apply Online for an AXIS Bank Home Loan?
You can apply for an AXIS Bank Home Loan online and offline.
Visit Official Website
Visit the official website of AXIS Bank. Click Here – AXIS Bank
Now click on explore products and in the loans section, click on HOME LOAN.
AXIS Bank Home Loan Schemes
Select the home loan scheme as per your requirement or the one that best suits you.
Click on “APPLY ONLINE” to start the application process.
AXIS Bank Home Loan Application Process
Complete the few basic details asked on the screen and click on submit to complete the first step.
After Submitting, AXIS bank will give you a loan offer. If you are satisfied with the offer continue.
Document Submission
You will be asked for your personal, professional, and property details, complete this step accurately.
You will have to submit your personal and professional documents, upon submission of documents the loan verification process will start.
Verification
Once the verification is complete, you will be offered a final loan amount for your property.
Property Document Submission
Submit all the property documents demanded by AXIS Bank.
Home Loan Disbursement
Upon submission of documents loan will be disbursed.
AXIS Bank Home Loan Customer Care
Toll- Free Number – 18604195555 / 18605005555
Chargeable Call Center India – +91 2224252525 / +91 2243252525
Chargeable Call Center NRI – +91 2267987700
Axis Bank Home Loan Customer Care Grievance Redressal
Level 1 – Complaint Redressal
Call centre services can be opted for by dialling – 1-860-419-5555 and 1-860-500-5555
You can chat live with the customer service on the official website of Axis Bank
You can also reach out to the nearest branch of Axis Bank and discuss with a concerned home loan representative.
Level 2 – Contacting Axis Bank’s Nodal Office
- You can write to Axis Bank’s Nodal Officer at the following address: Nodal Officer, Axis Bank Ltd., NPC1, 5th Floor, “Gigaplex’, Plot No. I.T.5, MIDC, Airoli Knowledge Park, Airoli, Navi Mumbai – 400 708
- You can e-mail nodal.officer@axisbank.com
- You can call at 080-61865200 between 9.30 am to 5.30 pm from Monday through Friday
Level 3 – Contacting the Principal Nodal Officer
- You can write to the Nodal Officer at – Principal Nodal Officer, Axis Bank Ltd., 2nd Floor, The Ruby, 9-Senapati Bapat Marg, Dadar, Mumbai – 400 028
- You can send an email to: pno@axisbank.com
- Also Read – SBI Home Loan: Interest Rate, Eligibility, Tenure, Documents
- Also Read – HDFC Home Loan complete details
AXIS Bank Home Loan FAQs
Can I prepay my Axis Bank Home Loan?
Yes, you can prepay or foreclose your AXIS Bank Home Loan at 2% for a Fixed Interest Rate and Zero charges for a Floating Interest Rate.
Can I convert my Axis Bank home loan from a floating rate of interest to a fixed rate of interest?
Yes, you are allowed to convert your AXIS Bank Home Loan from a Floating Interest Rate to a Fixed Interest Rate at a conversion fee of 1% on the outstanding principal amount.
Who is eligible to apply for an Axis Bank home loan?
Salaried individuals (working in government and private sector)
Professionals (i.e. doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, management consultants, etc.).
Self-employed in business and filing Income-Tax Returns.
Individuals over 21 years of age and ideally not over 60-65 years.
How to apply for an AXIS Bank Home Loan?
Follow the below few steps to apply for an AXIS Bank Home Loan.
Application: You will have to apply for a home loan at the AXIS Bank Branch or Online on the official site of AXIS Bank. Submit all the necessary documents while applying, otherwise, your application will not be processed. Please read the blog, all steps have been explained in detail.
Loan Sanction: Post submission of your application and review of necessary KYC and documents of financial stability, the bank will offer you a maximum loan amount and sanction your loan amount.
Review: Once the loan is sanctioned, you will be required to submit the property documents (as mentioned in the blog) for technical and legal review.
Approval & Disbursal: On verification of your personal documents and property documents bank will disburse the home loan.
With the right documents and prompt follow-up, you could have your Axis Bank Home Loan Approved in 15 days!
How do Home Loans work?
Home loans help you with a lump-sum advance of funds towards buying your desired property and this amount is repayable with interest. However, you can re-pay the amount advanced via EMIs (Equated Monthly Installments), thus enabling you to approach realizing your home dream in a convenient and structured way.
What are the tax benefits of home loans?
If you avail of a home loan you can get the following tax benefits.
Under Section 80C of the Income Tax Act 1961, the EMIs towards the principal loan amount availed are eligible for a tax deduction of up to Rs 1.5 lakh. While Section 24(b) of the Income Tax Act 1961, provides for a deduction on the interest portion of home loan EMIs up to Rs. 2 lakh per annum. However, if the house purchased is a “let out property” i.e. is rented out, the deductions can apply for the entire interest payable. For a self-occupied property, the deduction under Section 24(b) is Rs 2.00 lakh per annum.
Additionally, first-time home buyers may be eligible for further deductions under Section 80EE, up to Rs.50,000/- per annum, after they’ve exhausted the limit for interest per Section 24(b)
For loans taken towards re-development, reconstruction, or renovations of the property, the amount eligible for tax deduction is set at Rs.30000 irrespective of it being used to stay or let out.
What are some criteria to decide on home loan eligibility?
Axis Bank considers multiple factors to determine home loan eligibility, including but not restricted to:
The Income of all applicants
Age of the primary applicant
Number of dependents that the applicants support
Assets and liabilities of the applicants’
Stability and continuity of the primary applicant’s occupation
Can a Home Loan be availed for Home Improvements, Renovation or a Home extension?
Yes, the AXIS Bank Home Loan availed by you can be used to construct, repair, renovate, and home extensions.
