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Axis Bank Home Loan makes your dream of owning a house a reality. The Axis Bank Home loan has been boosted with many facilities like an easy application process, alluring interest, doorstep service, and smaller EMIs where you can space out your payment over the long term. Moreover, there aren’t any prepayment charges.
Looking for a flexible, efficient, and reliable way to finance your dream home? Apply for an Axis Bank home loan designed to turn your dreams into reality. Here’s why:
Unleash the dream of owning your home with an Axis Bank home loan! Check out these handy pointers that will help you understand the eligibility criteria and factors affecting your application:
Applying for an Axis Bank Home Loan? Here are the fees and charges that you will need to adhere to.
| Particulars | Applicable charges (exclusive of GST) |
| Processing Fees | Up to 1% of the loan amount, subject to a minimum of Rs. 10,000 |
| Prepayment fees, including a partial prepayment for a loan with a fluctuating rate | Nil |
| Charges for a fixed-rate loan’s prepayment | 2% of the principal outstanding |
| Penal Interest Rate | 24% per annum, 2% per month |
| Switching Fees (Base Rate/BPLR to MCLR) | When the effective rate is to be kept the same – No fees When an effective rate is to be revised – 0.5% on the outstanding principal, with a minimum of Rs. 10,000 |
| 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 |
| Repayment Instruction/Cheque Return Charges | Rs. 500 per instance |
| Cheque/Instrument Swap Charges | Rs. 500 per instance |
| Duplicate Statement Issuance Charges | Rs. 250 per instance |
| Duplicate Amortization Schedule Issuance Charges | Rs. 250 per instance |
| Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | Rs. 250 per instance |
| CERSAI charges | For loans up to Rs. 5 lakh – Rs. 50 For loans above Rs. 5 lakh – Rs. 100 |
| Loan Cover/ Insurance | Compulsory |
To validate your eligibility and expedite your loan approval process, here are the documents you need to prepare:
Axis Bank offers borrowers an affordable and easy option to apply for home loans with its different schemes to suit different needs best. With competitive interest rates, extended repayment options, and added benefits like EMI waivers, Axis Bank’s housing loan ensures that your homeownership path is simple and rewarding. Discover the diverse section of Axis Bank home loan products below:
| Loan Amount | Up to ₹30 lakhs, perfect for first-time homebuyers |
| Best Features |
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| Tenure & Interest Rate | Up to 30 years with interest rates starting at 8.75%*. |
| Loan Amount | From 30 Lakh to 5 Crores for premium homebuyers |
| Best Features |
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| Tenure | Flexible tenure options of up to 30 years |
👉 Explore more about Fast Forward Home Loan by Axis Bank.
| Loan Amount | Affordable options start from just 1 lakh to ₹35 lakhs. |
| Best Features |
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| Tenure | Tenure up to 30 years and interest rate starting at 10.05%. |
👉 Explore more about Asha Home Loan.
| Loan Amount |
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| Best Features |
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| Tenure & Interest Rate | Linked to your existing home loan tenure, with competitive top-up rates starting at 8.75%*. |
| Loan Amount | 10 lakhs to 5 crore. |
| Best Features |
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| Tenure & Interest Rate | Tenure up to 22 years, with floating interest rates applicable*. |
👉 Explore more about Super Saver Home Loan by Axis Bank.
| Loan Amount | Up to ₹5 crore for those looking for structured payments |
| Best Features |
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| Tenure | Up to 30 years. |
| Loan Amount |
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| Best Features |
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| Tenure | Flexible tenure up to 15 years based on the existing loan. |
Disclaimer: Interest rates, processing fees, and other charges are subject to change by Axis Bank. Please contact Axis Bank for the latest updates on applicable rates, fees, and terms.
Understanding how Equated Monthly Installments (EMIs) are calculated for your home loan can help you better plan your budget and manage your finances. When you take out a home loan from a company like Axis Bank, the repayment is usually done as EMIs. Here’s a simple explanation of how EMI calculation works:
First, let’s define an EMI. An EMI, or Equated Monthly Installment, is a fixed amount of money you must pay to the lender every month until the loan is fully repaid. The EMI consists of the principal amount (the actual loan amount) and the interest on the loan.
The EMI calculation formula used by most banks and financial institutions, including Axis Bank, is as follows:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
In this formula,
Let’s say you’ve borrowed Rs. 10,00,000 at an annual interest rate of 8% and plan to repay the loan over a period of 20 years (or 240 months). Here’s how the EMI would be calculated:
By plugging these values into the EMI formula, your monthly EMI would be approximately Rs. 8,364.
A balance transfer of a home loan is a service that allows you to transfer the outstanding principal amount of your existing home loan from one lender to another. The primary reason for this is usually to take advantage of lower interest rates offered by the new lender.
First, inform your current lender about your intent to switch to Axis Bank. Once they consent, they will issue a consent letter, a No Objection Certificate (NOC), and a statement specifying the outstanding amount.
After you submit this to Axis Bank, they will review your application, do the necessary credit appraisals, and if found satisfactory, they will sanction your loan. Post this; Axis Bank will pay the outstanding amount to your current lender. Once that’s done, your home loan will be transferred to Axis Bank, and your further EMIs will go to them instead of your previous lender.
Yes, Axis Bank offers home loans with low-interest rates starting at 8.1 percent.
For salaried employees, Axis Bank offers home loans at an interest rate starting from 8.1 percent. For self-employed individuals, the interest rate starts from 8.1%.
Yes, Axis Bank takes the CIBIL score into consideration for determining the eligibility of and the interest rate that can be offered to the loan applicant.
At a minimum, you can avail of a home loan amount of INR 3 lakhs.
Yes, you can take two home loans at a time, as the government has not specified any rules for the same.
The loan repayment period starts the very next month on the specified date when your requested amount gets disbursed in the associated loan account.
Axis Bank offers floating as well as fixed interest rates on home loans.
A Pre-EMI interest is an interest on a loan amount disbursed by the bank. It is payable every month. It includes the initial date of the loan amount disbursement to the commencement date of the EMIs payment.