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Axis Bank Home Loan

Axis bank home loan: Get quotes on interest rates 2016, EMI, Eligibility, Documents. Instant Apply through Deal4loans.com and get best offers on processing fees and interest rates. Axis Bank offers affordable & flexible Housing/Home Loans online which are available with Nil prepayment charges, Low Interest rates, Quick processing & Flexible repayment which makes your owning experience of dream home sweet & stress-free.

Axis Bank Home Loan Details:

Interest Rates 9.45% - 11.75%
Processing Fees Rs.10000 + Service tax
Pre payment Charges Nil
Loan Amount upto 90% of market value
Lowest EMI Rs.845/lac
Min. Income Rs.12000/- p.m
Loan Repayment 1 to 30 years

Axis Bank Home Loan

Loan Amount
Occupation
Annual income
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Features & Benefits of Axis Bank Home Loan:
✓ Flexible Interest Rates – You have option to choose Floating or fixed rate
✓ Special Balance Transfer Schemes Available
✓ Doorstep Service which makes your loan process Easy and convenient
✓ Nil Pre Payment charges means you can pre pay loan at any time without Penalty. (valid only in floating rate option)
✓ Longer Repayment Period of 30 Years.
✓ eDGE Loyalty Points on Home Loans.

Special Schemes of Axis Bank Are:

Axis Bank Home Loan Rates - Last Updated on 14 April 2016

Type Loan amount Interest Rates for salaried Interest Rates for Self employed
Floating Rates

Loan upto Rs.28 Lakhs

9.45% 9.70%
Loan above Rs.28 Lakhs 9.65% 9.75%
Top Up Loan 11.75% 11.75%

Marginal Cost Based Lending Rate (MCLR)  – 9.45%

MCLR Reset frequency for Home Loans  - Half Yearly

Base Rate  - 9.50%

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.


Rate applicable only for Vanila Standard Home Loan Product
Product Interest Rate Processing Fee MLI Remark

Vanilla HL

9.50%

5000

Mandatory

Loan amount less than 1 cr (Salaried including Surrogate take over and BT Dhamaka)

Vanilla HL - BT

9.50%

NIL

NA

excluding super saver/ empower/ surrogate directors program/ App score based HL & NRI – salaried / self employed

Vanilla HL - BT Top up (100% of HL BT )

9.50%

0.50%

NA

excluding super saver/ empower/ surrogate directors program/ App score based HL & NRI – salaried / self employed


Home Loan with Fixed Rate of Interest


Type of Loan

Interest Rate

Fixed Rate

11.75% p.a

Super Saver Home Loans at a special RATE of 9.75%

Only for major cities:-
  • Delhi NCR, Mumbai (incl Thane & Navi Mumbai), Bangalore, Pune, Kolkata, Chennai & Hyderabad.
  • Super Saver gives the customer an option to park additional funds which will reduce the interest obligation on the home loan to the extent of the funds parked, with the flexibility to withdraw the funds anytime. In order to provide the customers with the flexibility to redraw excess funds parked by him, Super Saver account comes with an ATM card, cheque book, internet and phone banking facility.

    Features & Norms:
    Loan Amount Rs 1 crore & above
    Current Location Delhi & Mumbai (shall be extended to other locations subsequently
    Tenure Upto 20 years (additionally upto 24 months moratorium for under construction properties)
    Customer Type Resident Indians Only- Salaried & Self-Employed
    Product Variants Vanilla Home Loan & Balance Transfer - Income Based Program
    Principal reduction options a) EMI based: Works similar to a Standard Home Loan (Term loan). EMI is calculated (comprising of Principal & Interest) which is the maximum outflow. However, the actual outflow may be lesser than the EMI depending on the utilisation of principal (excess funds parked in the account) resulting in lower than the projected interest. b) Equated Principal Amortisation: The Principal repayment is distributed equally over the loan tenure & interest is payable on the actual utilisation of the principal.
    Repayment No separate repayment mode is required to be collected. Customer needs to ensure that the funds equal to principal repayment & interest are available on the cycle date in Super Saver account.
    FOIR 70% (10% lower FOIR under Equated Principal Amortisation)
    Facilities to be issued Cheque Book, ATM card, Internet Banking & Phone Banking
     

    List of Home Loan documents required

    The following documents are required along with your loan application:
    Purpose Salaried Self Employed
    Proof of Identity and Address Passport or Voter's ID card or Driving License or Job Card issued by NREGA or Adhaar Card or 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 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 where salary or income is credited Last 6 months Last 6 months
    Guarantor form Optional Optional
     

    Limits on Home Loan

    Minimum - Rs 3 lac Margin
    Sr. No Loan amount (Rs.) Margin
    1 For Loan upto Rs. 20 Lacs 15%
    2 For Loan above Rs. 20 Lacs to upto Rs. 75 Lacs 20%
    3 For Loan above Rs.75 Lacs 25%

    Axis Bank Home Loan Eligibility Criteria

    A) - Salaried Individuals

    • Individuals in permanent service in the Government or reputed companies
    • Applicants should be above 24 years and between 60 years at the time maturity

    B) - Professionals

    • Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply.
    • Applicants above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity meet our housing loan criteria.

    C) - Self Employed Individuals

    • Any individual filing income tax returns can apply
    • Applicants should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
    check your loan eligibility by using Deal4loans Home Loan Eligibility Calculator

    Axis Bank Home loan EMI Calculator 2016

    Enter the following information in the below EMI calculator:
    ✓ Principal loan amount you wish to avail (rupees)
    ✓ Loan term (months or years)
    ✓ Rate of interest (percentage)

    Calculate Loans EMI Online

    Loan Amount
    Interest Rate (Reducing) % Per Annum
    Loan Tenure (in Months)
     
    Monthly EMI
    Total Amount with Interest
    Total Interest Amount
    Yearly Interest Amount
    EMI Calculation Per Lac for Axis Bank Home Loan as per Loan Tenure Period
    Loan Amount Repayment Time Interest Rate EMI Per Month
    Rs.1,00,000 5 year 9.60% - 9.65% Rs.2105 - Rs.2108
    Rs.1,00,000 10 year 9.60% - 9.65% Rs.1299 - Rs.1302
    Rs.1,00,000 15 Year 9.60% - 9.65% Rs.1050 - Rs.1053
    Rs.1,00,000 20 Year 9.60% - 9.65% Rs.939 - Rs.942
    Rs.1,00,000 25 Year 9.60% - 9.65% Rs.881 - Rs.884
    Rs.1,00,000 30 Year 9.60% - 9.65% Rs.848 - Rs.852

    What criteria will AXIS Bank look at to decide my eligibility for a Home Loan?

    Among the multiple factors that AXIS Bank considers in determining Home Loan eligibility are:
    ✓ Income of all applicants.
    ✓ Age of the primary applicant.
    ✓ Number of dependents that the applicants have to support.
    ✓ Assets and liabilities of the applicants.
    ✓ Stability and continuity of the primary applicant's occupation.

    Can I also avail of a Home Loan for Home improvements or a Home extension?
    You can avail of an AXIS Bank Home Loan from for any of the following:
    ✓ New Home Purchase
    ✓ Construction of New Home Or Existing One
    ✓ Repair of Homes
    ✓ Home improvements.
    ✓ Home extension

    Is it mandatory to have a co-applicant when applying for a Home Loan? If yes, who can be a co-applicant for my Home Loan?
    Yes, it is mandatory to have a co-applicant. If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the Home Loan. If you are the sole owner of the property, any member of your immediate family can be your co-applicant.

    Axis bank home loan procedure?

    Once bank receive a completed application form along with the necessary supporting documents two things happen:

    Determination of your eligibility for the Home Loan: For this bank consider internal policy guidelines and also examine all the documents submitted by you. If you are deemed eligible, you will get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property.
    Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 30 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.
    Legal and Technical verification: Lawyers and property valuers empanelled by the Bank will verify your title documents conduct a technical evaluation of the property.
    Once both these are complete, the Bank will process the disbursement of your Home Loan.

    How soon after the foreclosure will I get back my original property documents?
    Once your loan account is closed, you may collect your property documents after 16 days from your nearest AXIS Bank Loan Center.

    Registered Office-
    Axis Bank Limited,
    "TRISHUL", Third Floor,
    Opp. Samartheshwar Temple,
    Nr. Law Garden, Ellisbridge,
    Ahmedabad - 380 006

    Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

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