Axis Bank Loan against property | Interest Rates | EMI Calculator

Axis Bank Loan Against Property 2017: Get Details on Eligibility criteria, Documents, Interest Rates, EMI and Other Charges Charged by Axis Bank on Mortgage Loan Online.

Features and Benefits of LAP Axis Bank

  • Attractive interest rates
  • Balance Transfer facility available with additional finance
  • Doorstep service
  • Loan against property – Residential
  • Loan against property – Commercial
  • Loan for purchase of commercial property
  • Take-over of existing loan with additional refinance (Balance Transfer)
  • Lease Rental Discounting (LRD)

Get Free Instant Quotes on Rates, EMI & Eligibility on Loan Against Property

Professional Details
Loan Amount:

Occupation:

Net Salary/Income (Yearly/ITR):

City:

Loan against property interest rates Axis bank

Marginal Cost Based Lending Rate – 8.85%

MCLR Reset frequency for Loan against property – Half Yearly

Base Rate – 9.25%

Product Variant/Rate Slab

Applicable pricing

For PSL cases

Applicable Pricing for

non PSL cases

LAP Term Loans (Income Based,

GTP, GPR)

MCLR + 2.30% = 11.20%

MCLR + 2.40% = 11.30%

LAP Term Loans (Surrogates –

Banking, Repayment based)

MCLR + 2.55% = 11.45%

MCLR + 2.65% =11.55%

LAP Overdraft Against Property Loans

– Residential & Commercial**

MCLR + 2.80% = 11.70% MCLR + 3.90% = 11.80%

LAP Rates for Axis Bank/Group company employees:

Loan Type Applicable Pricing
LAP Term Loan MCLR + 2.05% = 10.95%
LAP OD MCLR + 2.30% = 11.20%

Processing Fess: 1% or Rs 5000 (whichever is higher)

Eligibility Criteria for Axis Bank LAP:

Salaried Individuals:

  • Any individual who is in permanent service in government or a reputed company
  • The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation

Professionals:

  • Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply
  • The applicant 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

Self-employed Individuals:

  • Any individual filing Income Tax returns can apply
  • The applicant in all the cases 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

Lease Rental Discounting (LRD):

  • All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956. Funding will be done only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower.

Documents Required for Axis Bank Loan Against Property:

Document Salaried Applicants Other Applicants
Proof of identity Voter’s ID card or driving license or PAN card or photo credit card or employee’s ID card, or defense or police or government department ID card Voter’s ID card or driving license or PAN card or photo credit card
Proof of income Latest salary slip showing all deductions or Form 16 along with recent salary certificate IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address
Bank statement or pass book where salary or income is credited Last 6 months Last 6 months
Guarantor form Optional Optional
Lease Agreement Copy of lease agreement required for all lease rental discounting cases Copy of lease agreement required for all lease rental discounting cases