Understand All About Axis Bank Home Loan
Axis Bank provides home loans starting at 6.75% p.a. on floating rate loans and 12% p.a. on fixed rate loans. In the case of floating rate loans, the term can be extended up to 30 years, and in the case of fixed rate loans, the term can be extended up to 20 years. The processing fee on an Axis Bank Home Loan can be up to 1% of the loan amount or INR10,000 whichever is greater, with Rs.2,500 + GST due upfront at the time of loan application login.
Home Loan Details
Axis Bank's home financing schemes feature attractive rates and flexible repayment terms approving a minimum amount of INR3 Lac. and financing up to 90% of the total cost of the property. With Interest Rates starting from 6.75% p.a., based on the festival offers, the Loan Amount is Based on the applicants income. Axis bank charges a processing fee of up to 1% of the loan amount or INR10,000 whichever is higher. The Penal Interest Rate is charged at 24% p.a. or 2% per month. If you decide to foreclose your loan, Axis bank charges Prepayment/Foreclosure Charges 0 - 2%. The loans are sanctioned for a max tenure of 30 years. Generally Axis Bank offers both types of interest rates i.e. Floating Interest Rate as well as Fixed Interest Rate.
Axis Bank Interest Rates on Home Loans
Axis Bank Home Loan Interest Rate are comparatively attractive than any other private banks. It offers different Interest rates on it’s different home loan schemes. Some of the Home loan Schemes offered by Axis bank along with their interest rates are mentioned in the table below-
Axis Bank Fixed Interest Rates on Home Loans
Along with floating Interest rates Axis offers Fixed interest rates as well. The home loans with fixed rate of interest offered by Axis bank are listed in the table below-
Eligibility Criteria
To be able to apply for a home loan in Axis bank the applicant must be within 21-57 years of age, irrespective of the fact whether he is an Indian citizen or not. The applicant must be a salaried employee or a self-employed professional.
Below mentioned is a list of documents required to apply for the home loan-
Identity proof
Address proof
Certificate of Birth
Proof of income
Cheque for processing fees
Documents related to the loan agreement
Property Documents
Evidence of one's own contribution
Letter of sanction
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