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Product Details
Bank Name

Axis Bank

Maximum Loan Tenure

30 years.

Maximum Loan Amount

INR 5 Crore

Interest Rate

7.9-11.45%

Type

Fixed and Floating

Axis Bank Home Loan
Down Payment

For home loan upto INR 30 Lakhs: 10%
For home loan above INR 30 Lakhs upto Rs. 75 Lakhs: 20%
For loan above INR 75 Lakhs: 25%

Fees and Charges

Processing fee:1% of the loan amount
Prepayment charges for floating rate: NIL
Penal Interest On Late Payment:@24% per annum i.e. @ 2% per month on the overdue installment/s
Legal Fee: At actuals.
Stamp Duty And Registration Charges: At actuals.

Minimum CIBIL Score

Not specified.

Down Payment and Fees
Apply Now

Axis Bank Home Loan

Special Features

No penalty on prepayment of loan.

Eligibility Criteria

The eligibility criteria for Axis Bank Home Loans depend on several factors, but here's a breakdown of the key requirements:

Income and Employment:

  • Minimum Salary: Axis Bank typically requires a minimum monthly salary of Rs. 21,000 for salaried individuals and Rs. 25,000 for self-employed individuals. However, this can vary depending on the loan program and location.

  • Income Stability: Consistent income and a good employment track record are crucial.

Age:

  • Minimum Age: Applicants must be at least 21 years old at the time of loan commencement.

  • Maximum Age: This generally ranges from 60 to 70 years or superannuation, whichever is earlier, at the time of loan maturity.

Credit Score:

  • Maintaining a good credit score (ideally above 750) is essential for securing favorable interest rates and terms.

Property:

  • The property you wish to purchase must be located within an area serviced by Axis Bank and approved by the bank.

  • Construction quality and resale value might be considered.

Additional factors:

  • Debt-to-Income Ratio (DTI): Your monthly debt obligations divided by your gross monthly income should be ideally below 50%.

  • Guarantor: In some cases, the bank may require a guarantor who meets specific eligibility criteria.

Specific Eligibility Details:

  • Some Axis Bank Home Loan programs like Shubh Aarambh, specifically for first-time homebuyers, might have slightly different eligibility criteria.

  • Always consider the purpose of your loan (purchase, construction, etc.) as it can influence eligibility.

Special Concession
No
Home Saver Option

No

Features, Eligibility and Concession
Pros
  • Flexibility in terms of tenure.

  • High maximum loan amount.

  • No penalty in case of pre payment for floating rate loan.

  • Axis bank has a very wide network. 

  • You can choose between fixed and floating rate.

Cons
  • High processing fee in comparison to PSU banks. 

  • No home saver option.

Pros & Cons
Application Procedure

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