Duvanta Helps in Fulfilling your Axis Bank Home Loan Needs.
Are you planning to buy, build, or renovate your dream home? Axis Bank Home Loan could be your ideal financial partner. With a strong reputation, competitive interest rates, and customer-centric features, Axis Bank offers flexible home loan solutions to diverse borrowers—including salaried, self-employed, and NRIs. Let’s dive into all you need to know, from key features to the application process, so you can make a confident, well-informed home financing decision.
|
Credit Score
|
Floating Interest Rates (p.a.)
|
|---|---|
|
750+
|
8.35% – 9.10%
|
|
Below 750
|
8.60% – 9.35%
|
Asha Home Loans: 10.15% – 11.90% (Salaried) / 11.15% – 11.90% (Self-Employed)
Fixed Rate All Variants: 14% p.a.
Loan Tenure: Up to 30 years
Processing Fees: Up to 1% of the loan amount, minimum ₹10,000, plus GST.
Penal Interest: 8% p.a. over regular rate on overdue amounts (max 24% per instance).
Axis Bank’s home loan eligibility standards are clear and friendly to a wide borrower base:
|
Applicant Type
|
Age Range
|
Employment
|
Loan Amount
|
Special Notes
|
|---|---|---|---|---|
|
Salaried
|
21–60 years
|
Government, PSU, or reputed
Private |
₹1 lakh–₹5 crore
|
At least 21 years at application and
up to 60 years at maturity |
|
Self-Employed
|
21–65 years
|
Profit-making for minimum
years required |
₹1 lakh–₹5 crore
|
Stable earnings and valid
business documents |
Having your paperwork ready streamlines the loan process:
Mandatory Paperwork for All Borrowers:
Completed and signed home loan application form
Passport-size photographs
Proof of identity: PAN Card, Passport, Aadhaar, Voter ID, or Driving License
Proof of age: PAN, Passport, Aadhaar, 10th Marksheet
Proof of address: Utility bills, Voter ID, Passport, Ration card
Salary slips (last 3–6 months)
Bank account statements (last 6 months)
Income tax returns/Form 16
Employment letter/appointment letter (for new jobs)
Property-related documents (sale agreement, title deed, builder NOC, previous chain of documents as needed)
For Self-Employed:
Business existence proof (GST, registration, etc.)
Business financials (audited profit/loss account, balance sheets for last 2–3 years)
Latest ITRs
For NRIs:
Valid passport with visa
Overseas and Indian address proof
Salary slips/certificates
Power of Attorney (in India)
NRE/NRO bank account statements
*Providing these documents promptly accelerates the approval process.
Check Eligibility: Use Axis Bank’s online home loan eligibility calculator or consult an Axis loan officer.
EMI Planning: Use the online EMI calculator to estimate your monthly outflow as per loan amount, tenure, and prevailing interest rate.
Document Preparation: Collect and organize all required paperwork as per above checklist.
Apply Online or Offline: Fill out the Axis Bank home loan application form available online or request for a doorstep visit.
Submit Documents: Provide copies of your documents. Originals may be needed for verification.
Loan Processing & Verification: Axis Bank evaluates your profile, performs credit checks, and verifies property details.
Sanction Letter Issued: If approved, you’ll receive a loan sanction letter detailing loan amount, interest rate, tenure, etc.
Agreement & Disbursal: Sign the agreement; funds disbursed directly to the seller/builder as per property payment schedule.
Track Status: Monitor progress through your Axis Bank account or via regular bank communication.
Axis Bank’s home loan portfolio is designed to suit diverse needs:
Regular Home Loan: For buying/constructing a home.
QuikPay Home Loan: Designed for faster principal repayment, reducing overall interest payout.
Asha Home Loan: Focused on affordable housing with relaxed eligibility and higher LTV.
Shubh Aarambh Home Loan: Flexible for buying, constructing, or improving homes, including plot+construction options.
Home Loan Balance Transfer: Transfer your existing loan to Axis for better rates/services.
Top-Up Loan: Additional funds on an existing Axis home loan for personal needs.
NRI Home Loans: Tailored for overseas Indians.
Fixed Rate: 2% on outstanding principal at time of closure.
Switching Fee: 1-2% of principal (floating to fixed or vice versa).
Other Service Charges: For bounce/returned EMI, statement copies, CERSAI registration, etc.
Tips:
Keep your CIBIL score above 750 for best rates.
Use a co-applicant for better eligibility or higher loan amounts.
Choose loan tenure carefully for comfortable EMIs.
Submit complete documentation to speed up approval.
Regularly monitor your repayment schedule to avoid late fees.
Common Mistakes:
Not reading sanction letter details (especially fees, charges, foreclosure terms).
Underestimating total cost (interest + processing + other fees).
Ignoring prepayment/foreclosure rules.
Missing out on balance transfer benefits when rates drop.
A: Depending on your eligibility, you can borrow between ₹1 lakh and ₹5 crore, subject to bank evaluation and property appraisal.
A: Yes, NRIs can apply, provided they meet documentation and eligibility criteria.
A: Yes, especially on floating rate loans, without penalty.
A: Using Axis Bank’s online tracking tool or by contacting a relationship manager.
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