The Axis Bank Home Loan has made it simple and affordable for us to fulfil our desire to own our own house.
Almost all of us dream of owning a nice home that we can leave comfortably and happily without having to worry about paying rent or having to deal with landlords. Presently, prices of goods and services are rising every day, which leads to an increase in the cost of living. As such, it is of utmost importance that we obtain our dream home as soon as possible.
Home Loans at Axis Bank: Know These Things-
In this post, we will discuss everything you need to know about getting a Home Loan from Axis Bank. This site provides information regarding interest rates, types of home loans, other charges, repayment terms, EMI payments, application procedures, and required documents. I request you to read this post carefully and thoroughly, to make sure that you understand each point minutely so that you can make an informed decision about the purchase of your dream home with the help of a Home Loan. I have seen numerous instances of people who missed some important and pertinent points and later asked questions after receiving the loan. Instead of asking questions later, it is advisable to ask questions now before applying for a home loan.
Before moving forward, I would urge you to please take a moment and check the interest rates on Home Loans offered by other leading Banks and Home Finance Companies. Just CLICK HERE to find out more.
1.) An Overview:
SL. NO. | PARTICULARS | INFORMATION |
a.) | Loan Amount | Maximum 5 Crores |
b.) | Loan Tenure | Maximum 30 Years |
c.) | Interest Rate (Floating) | 6.75% - 7.20% per annum |
d.) | Interest Rate (Fixed) | 12% per annum |
e.) | Processing Fees | Up to 1% of the loan amount (minimum Rs.10,000) + GST |
2.) Types of Home Loans provided by Axis Bank:
Axis Bank Home Loan –
Features: – Loans for Resident Indian and NRI Salaried and Self Employed customers.
– Attractive fixed and floating interest rates.
Loan Amount: – Up to Rs. 5 Crore
Maximum Tenure: – 30 years
QuickPay Home Loan –
Features: – Loans with Reducing Monthly Instalments.
Loan Amount: – Up to Rs. 5 Crore
Maximum Tenure: – 30 years
Shubh Aarambh Home Loan –
Features: – 12 EMIs off on regular payments of EMIs. 4 EMIs each waived at the end of 4th, 8th and 12th year.
– No extra costs, nil prepayment charge.
Loan Amount: – Up to Rs. 30 Lakhs
Maximum Tenure: – 30 years
Fast Forward Home Loan –
Features: – 12 EMIs off on regular payments of EMIs. 6 EMIs waived at the end of 10th and 15th year.
– No extra costs, nil prepayment charge.
Loan Amount: – Rs. 30 Lakhs to Rs. 5 Crores
Maximum Tenure: – 30 years
Asha Home Loan –
Features: – Affordable home loans for both Salaried and Self Employed customers.
– Available on a minimum combined family income of Rs. 8000 p.m.
Loan Amount: – Rs. 1 Lakh to Rs. 35 Lakhs
Maximum Tenure: – 30 years. Available on a minimum combined family income of Rs. 8000 p.m.
Top-Up Home Loan –
Features: – Top Up loan for existing Home Loan customers and for Balance Transfer customers.
– Can get additional financing on the same property for personal or business requirements.
Loan Amount: – Up to Rs. 50 Lakhs
Maximum Tenure: – Same as that of outstanding Home Loan Tenure.
Super Saver Home Loan –
Features: – Home loan with overdraft facility to save total interest payable on your home loan.
– Can invest surplus funds in the account to earn interest and withdraw whenever needed.
Loan Amount: – Rs. 50 Lakhs to Rs. 5 Crores
Maximum Tenure: – 20 years for fully disbursed case and 22 years for partly disbursed case
Power Advantage Home Loan –
Features: – Loans with 2 years fixed + floating rate of interest.
Loan Amount: – Up to Rs. 5 Crores
Maximum Tenure: – 30 years
Pradhan Mantri Awas Yojna –
Features: – Interest subsidy on housing loans to eligible beneficiaries belonging to the EWS, LIG and MIG segment for construction or purchase of their first homes.
– Savings up to Rs. 2.67 lakhs for eligible beneficiaries.
– Subsidy on loan amount defined against each category.
Loan Amount: – Subject to applicants eligibility.
Maximum Tenure: – 30 years, with subsidy up to 20 years of loan.
3.) Eligibility Criteria:
For Salaried Individuals:
– Those employed by the government or reputed companies on a permanent basis.
– The applicant must be over 21 years of age at the time of loan commencement and up until 60 or the age of retirement, whichever comes first, at the time of repayment.
For Professionals:
– In this group are the professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants only).
– Applicants who are at least 21 years of age at the time of loan application and not older than 65 at the time of loan maturity are eligible.
For Self-employed Individuals:
– Individuals who file income tax returns are eligible to apply.
– A borrower must be at least 21 years of age at the time of loan application and less than 65 years of age at the time of loan maturity.
4.) Documents Required:
a.) Filled Application Form.
b.) Photocopy of the PAN card.
c.) Identity Proof: Passport / Aadhaar Card / Driving License / Voter ID / Government Issued Photo ID / Government Employee ID. (Anyone of these documents)
d.) Address Proof: Aadhaar Card / Driving License / Voter ID / Electricity Bill / Gas Bill / Telephone Bill (Land Line) / Property Tax Receipt. (Anyone of these documents)
e.) Date of Birth Proof: Passport / PAN Card
f.) Income Proof: Six months Bank Statement / Form 16 / Photocopy of the filed ITR /
5.) How to apply for Axis Bank Home Loan:
Offline:
An individual can visit any Axis Bank branch near them and fill out the application form. In addition to the application, the applicant must submit all required documents.
Online:
An applicant may also apply for a Housing loan online on their official website by filling out the required application form.
Click Here to visit the official website of Axis Bank
