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Interest Rate
Salaried
Floating Rate:-
Loan amount upto Rs 28 lacs - 8.60%
Loan amount above Rs 28 lacs - 8.70%
Top Up for existing customers
Self Employed
Floating Rate:-Loan amount upto Rs 28 lacs - 8.65%
Loan amount above Rs 28 lacs - 8.85%
Top Up for existing customers
Fixed Rate - 11.75%
Processing Fees
The processing charge to avail of an AXIS Bank Home Loan is up to 1% of the loan amount plus service tax as applicable.
Max Tenure
30 years
Credit Score
Excellent (725+)
Never Bounced any EMIs but have missed card payments over a year ago
Minimum Downpayment Required
For loan upto ₹30 lakhs - 10%
For loan above ₹30 lakhs to upto ₹75 lakhs - 20%
For loan above ₹75 lakhs - 25%
Loan Approval Before Property Selection
Yes
Documents Required
Salaried:
Proof of identity and address - Passport /Voter ID card /Driving License /Job Card issued by NREGA/Aadhaar Card / PAN card (PAN Card only as identity proof) or any other document as acceptable to the Bank.
Proof of Income - Latest 3 Months salary slip showing all deductions and Form 16.
Bank statement or Pass Book where salary or income is credited - last 6 months.
Self Employed:
Proof of identity and address - Passport /Voter ID card /Driving License /Job Card issued by NREGA/Aadhaar Card / PAN card (PAN Card only as identity proof) or any other document as acceptable to the Bank.
Proof of Income - IT returns for the last 2 years and computation of income for the last 2 years certified by a CA.
Bank statement or Pass Book Statement for last 6 months.
Property Insurance Mandatory
Yes
Typical Property Insurance Costs
0.50% of the property value
Pre-Payment Conditions
Floating Interest rate: NIL prepayment charges are applicable.
Fixed Rate Loan: 2% of outstanding principal/amount prepaid.
Loan Closure Charges
Nil
Loan Closure Conditions
Pre-closure is allowed after 12 months from loan disbursement date.
Rate change over Last 4 Years
-0.9
Closure Process
In case of death of Loan Account holder:
Request letter from the Legal Heir/ Claimant/ Nominee(s) for handover of Property documents
Letter of relinquishment for relinquishin
Features
Choose between Floating and Fixed Rates on your Axis Bank Home Loan
Get your Axis Bank Home Loan sanction in just 5 days (T&C Apply)
Balance Transfer your existing loan to Axi
ILLUSTRATION FOR $3,000,000 HOME LOAN for 30 years
EMI
₹23,387
PRINCIPAL PAID
₹3,000,000
INTEREST PAID
₹5,419,347
PROPERTY INSURANCE COST
₹16,667
PROCESSING FEES
₹15,000/- plus taxes
TOTAL FEES + INSURANCE
₹30,000
TOTAL EMI PAID ₹ 8,419,347 over 30 years
Reason: