Bank Home Loan Apply Online in Axis Bank

Home Loan  Updated date : December 9, 2017 8

✔ Smaller EMIs
✔ Space out your payments and avail smaller EMIs paid over longer tenure
✔ Minimum - Rs. 3,00,000
✔ Maximum - Depends on combined income
✔ Prepayment Charges
✔ Floating Rate Loan: Nil
✔ Fixed Rate Loan: 2% of outstanding principal/amount prepaid
✔ Interest Rate Applicable
✔ Floating and Fixed

Bank Home Loan Features and Benefits

Avail attractive interest rates
Make your housing loans affordable and easier on your pocket every month with attractive home loan interest rates

Choose your interest rate type
Fixed and floating home loan interest rates available as per your preference

Transfer loan balance with ease
Transfer your Home Loan to Axis Bank, without any hassles

Get service at your doorstep
Avail or repay the home loan from the comfort of your home or office

Pay no prepayment charges
No prepayment charges for paying off loans before the due date (only for loans availed at floating rate of interest)

Be assured of quick, transparent processing
Premium banking customers can contact their Relationship Manager for details of special benefits

Repay your loan over a longer tenure
Repay your home loan in smaller EMIs, over a longer tenure, depending on the situation of your finances

Earn eDGE Loyalty Points
eDGE Loyalty Rewards points for transactions and 500+ rewards and offers to redeem points.
Earn points for these transactions:

When you take a home loan

500 points if disbursal is less than or equal to 25 lakhs
1000 points if disbursal is greater than 25 lakhs but less than or equal to 75 lakhs
2000 points if disbursal is greater than 75 lakhs When you take a top-up home loan

250 points if disbursal is less than or equal to 25 lakhs
500 points if your disbursal is greater than 25 lakhs but less than or equal to 75 lakhs
1000 points if disbursal is greater than 75 lakhs On every anniversary year of your Home Loan

100 points on completion of the 1st year
200 points on completion of the 2nd year
300 points on completion of the 3rd year
400 points on completion of the 4th year
500 points on completion of the 5th year, 6th year, 7th year and so on until the closure of the loan

Bank Home Loan Eligibility & Documentation

Salaried individuals eligible for home loan

Individuals in permanent service in the Government or reputed companies fall under the home loan eligibility criteria.

Applicants should be above 21 years of age at the time of loan commencement and up to the age of 60 or superannuation, whichever is earlier at the time of loan maturity.You can check the amount you need to pay as EMI with the home loan EMI Calculator.

Professionals eligible for home loan

Professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply
Applicants above 21 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

Self-employed individuals eligible for home loan

Any individual filing income tax returns can apply
Applicants should be above 21 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Borrowing Limits

Minimum - Rs. 3 lakhs
Margins
For loan upto Rs. 30 lakhs - 10%
For loan above Rs. 30 lakhs to upto Rs. 75 lakhs - 20%
For loan above Rs. 75 lakhs - 25%

Following are the documents required in order to apply for a home loan.

Keep your documents ready

Document NeededSalariedSelf Employed
Proof of identityValid passport/Voter’s ID/Valid Driving license with photo graph /Pan card /Aadhar card
Proof of IncomeLatest 3 months salary slip / certificate for fixed salary/Latest Form 16
-and-
Last 6 months bank statement/Passbook of the salary account
IT- returns for the last 2 years along with computation of income certified by CA
-and-
Last 6 months Bank statement for operative account both personal and business.
Proof of ResidenceLatest Electricity Bill/utility bill/ piped gas bill/ telephone bill (Not more than 2 months old)/ Passport/Aadhar card/ Voter ID/ Driving  License.

Bank Home Loan Interest Rates and Charges

Following are the home loan interest rates and charges.

Housing interest rates & charges, are divided into salaried & self-employed individuals.

For salaried individuals

Sr. NoTypeLoan amount (Rs.)MCLR + Mark UpEffective Rate Of Interest
1Floating RateLoan amount upto Rs 30 lacsMCLR + 0.20%8.35% p.a.
Loan amount upto Rs 75 lacsMCLR + 0.50%8.65% p.a.
Loan amount above Rs 75 lacsMCLR + 0.55%8.70% p.a.
Top Up for existing customersUpto 30%- Same rate at which the home loan is running
30%-100%- LAP rate shall be applicable

For Self Employed

Sr. NoTypeLoan amount (Rs.)MCLR + Mark UpEffective Rate Of Interest
1Floating RateLoan amount upto Rs 30 lacsMCLR + 0.25%8.40% p.a.
Loan amount upto Rs 75 lacsMCLR + 0.55%8.70% p.a.
Loan amount above Rs 75 lacsMCLR + 0.60%8.75% p.a.
Top Up for existing customersUpto 30%- Same rate at which the home loan is running
30%-100%- LAP rate shall be applicable
Marginal Cost Based Lending Rate (MCLR) – 8.15%
MCLR Reset frequency for Home Loans - Half Yearly
Base Rate - 9.00%
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.

Other Charges**

Description of chargesAmount (Rs.)
Processing Fee ChargesUp to 1% of the Loan amount subject to minimum of Rs.10,000/-
Penal Interest Rate@24 % per annum, 2% per month
Switching Fees (Base Rate/BPLR to MCLR)#
  • When effective rate is to be kept the same - No fees
  • When effective rate is to be revised - 0.5% on outstanding principal with minimum of Rs 10000/-
Switching Fees (Floating Rate to Fixed Rate)#1% on the outstanding principal with a minimum of 10,000/-
Switching Fees (Fixed Rate to Floating Rate)#2% on the outstanding principal amount
Switching Fees (Higher Floating Rate to Lower Floating Rate )#Switching Fees (Higher Floating Rate to Lower Floating Rate )#
Switching Fees (Higher Floating Rate to Lower Floating Rate )#0.5% on outstanding principal with minimum of `10,000/-The lower rate will be equal to the applicable carded interest rate only
Repayment Instruction/Cheque Return charges500/- Per Instance
Cheque/Instrument Swap Charges500/- Per Instance
Duplicate Statement Issuance Charges250/- Per Instance
Duplicate Amortization Schedule Issuance Charges250/- Per Instance
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges250/- Per Instance
Issuance Charges of Credit Report50/- Per Instance
Issuance Charges for Photocopy of title documents250/- Per document set
Charges on customer initiated requests for copies of documents250/- Per document set
Prepayment Charges including part prepayment for floating rate loanNIL
Prepayment Charges for fixed rate loan2% of the principal outstanding
Equitable Mortgage Creation Charges As applicable in theAs applicable in the state
CERSAI chargesRs 50/- For Loans up to 5 Lakhs
Rs 100/- For Loans above 5 Lakhs

# For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed portion of sanctioned amount.

** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).

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