Axis Bank Home Loan Interest Rate

Axis Bank Private Ltd was established in Mumbai in 1993 as UTI Bank. It is India's third largest private sector bank, offering a wide range of financial services to its customers, including major and mid-sized corporations, small and medium-sized enterprises, agriculture, and retail businesses. The bank operates 3300 locations, 14,000 ATMs, and nine international offices.

Axis Bank Home Loan

Axis Bank offers house loans starting at 7.60% p.a. for terms of up to thirty years and loan amounts of up to Rs. 5 crores. It also provides affordable housing loans and innovative home loan products such as reduced EMIs, EMI waivers, home loan overdraft facilities, and house loans with variable Axis Bank home loan interest rates (fixed for two years and then floating interest rates).

Characteristics of the Axis Bank Home Loans

Axis Bank provides home loan programs for both salaried and self-employed persons. Axis Bank home financing options feature attractive rates and flexible repayment terms.

  • A minimum loan of Rs.3 lakh is required.
  • The option to select a fixed or fluctuating interest rate.
  • Loans are accessible for both salaried and self-employed people.
  • Financing of up to 90% of the total property cost is available.

Axis Bank Housing Loan Interest Rate 2022

Here are the interest rates of home loan schemes from Axis Bank-

1) Housing Loans of Axis Bank

  • Salaried

Type

Axis Bank home loan rate

Fixed-Rate

12.00% p.a.

Floating rate

7.60%-7.95% p.a.

  • Self-Employed

Type 

Axis Bank home loan interest

Fixed-Rate

12.00% p.a.

Floating rate

7.70%-8.05% p.a.

 

2) Asha Home Loan Schemes

Type

Axis home loan interest rate

For salaried 

9.75%-12.10%

For self-employed

10.80%-12.50%

Types of Axis Bank Home Loans

There are varied types of home loans from Axis Bank to serve varied purposes:

1) Axis Bank Housing Loan

This loan scheme is for home loans to Resident Indians and Non-Resident Indians for the purchase or construction of a new home.

2) Shubh Aarambh Home Loan Scheme

Axis Bank Shubh Aarambh Home Loan provides 12 EMI waivers (4 EMIs waived off at the end of the fourth, eighth, and twelfth years) and interest subsidy benefits to those who qualify under the Pradhan Mantri Awas Yojna Scheme.

3) QuikPay Home Loan Scheme

Allows borrowers to repay larger principal amounts early in the loan's term. Every month, the EMIs decrease, allowing borrowers to save significantly on interest payments. It also provides balance transfers from other banks/NBFCs to Axis Bank at competitive interest rates.

4) Fast Forward Home Loan Scheme from Axis Bank

The Axis Bank Fast Forward Home Loan includes 12 EMI exemptions for debts repaid after ten years, with 6 EMIs waived at the end of the 10th and 15th years. This lending facility is also available to applicants for house loans who use the home loan balance transfer facility.

5) Super Saver Home Loan Scheme from Axis Bank

Overdraft facility on your home loan to reduce the overall interest payable. Borrowers can invest their excess cash in the account to generate interest and withdraw it whenever they need to use the Axis Bank Super Saver Home Loan.

6) Axis Bank Home Loan

Home loan scheme for salaried and self-employed candidates with a total family income of Rs 8,000 and above. It is a tailored home loan program based on the banking habits of the loan applicants. Axis Bank Asha Home Loan additionally includes 12-month EMI exemptions, with four EMIs waived at the end of the loan's fourth, eighth, and twelfth years.

7) Power Advantage Home Loan from Axis Bank 

Home loans have fixed interest rates for the first two years, followed by fluctuating interest rates for the remainder of the loan term.

8) Top-Up Home Loan Scheme from Axis Bank

Existing home loan clients and home loan balance transfer customers that seek additional funds for personal/business needs or residential/commercial property construction.

9) Pradhan Mantri Awas Yojna

Home loans with interest subsidies of up to Rs 2.67 lakh are available to qualifying borrowers from Economically Weaker Sections, Low-Income Groups, and Middle Income Groups for the purchase or building of their first home.

Who is Eligible for the Home Loan from Axis Bank?

  • Salary or self-employment
  • Clean track record throughout loan tenure- no cases of outstanding dues for 90 days or more; no more than three cases of pending dues for 30 days or more.
  • There are no penalties or other expenses owed to the borrower.

Documents Required to Apply for a Loan

  • ID Proof
  • Address Proof
  • Income proof
  • Birth certificate
  • Processing fee
  • Loan agreement
  • property documents
  • Sanction letter
  • Own contribution proof

How to Apply for a Home Loan from Axis Bank?

Here are the steps to follow in order to apply for a home loan online:

Step 1: You will have to visit the official portal of Axis Bank.

Step 2: Navigate to the loan section and choose to apply for a home loan.

Step 3: You can fill in the form, and complete the KYC.

Step 4: Once the form has been submitted, you would have applied successfully.

Step 5: Further on, the bank will contact you on your application.

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