Axis Bank Loan Against Property 2021: Get Details on Eligibility criteria, Documents, Interest Rates, EMI and Other Charges Charged by Axis Bank on Mortgage Loan Online.
Looking for funding? Have a commercial or residential property which you can offer as collateral? Axis Bank’s Loan against Property is just what you need! Axis Bank offers easy and hassle-free Loan against Property for a loan amount starting from Rs. 5 Lakhs. You can avail loan against residential or commercial property at attractive rates of interest.
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)
Loan against property interest rates Axis bank 2021
Axis Bank provides loans against property, in which you can mortgage your commercial or residential property. You can also utilise the Loan against Property to purchase a commercial property. So go ahead and make the most of our attractive interest rates for Loan against Property.
|Product Variant/Rate Slab||For Term Loans||For Overdraft Loans|
|Floating Rates||10.50% – 11.00%||11.00% – 11.25%|
LAP Rates for Axis Bank/Group company employees:
Processing Fess: 1% or Rs 10,000 (whichever is higher)
Eligibility Criteria for Axis Bank LAP:
- 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 (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
- 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|
|Lease Agreement||Copy of lease agreement required for all lease rental discounting cases||Copy of lease agreement required for all lease rental discounting cases|