Axis Home Loan-2025
Axis Bank housing loan provides flexible and affordable financing for housing needs. With competitive rates, simple eligibility, and quick approvals, Axis Bank home loan ensures a smooth and hassle-free experience in purchasing, constructing, or renovating your home.
Owning a home is a dream that many of us aspire to achieve. Axis Bank understands the significance of this milestone and is dedicated to helping people with their dependable services and a wide range of tailored Axis Bank Home Loan schemes.
Here’s an in-depth look into Axis Bank’s home loan offerings, encompassing interest rates, eligibility criteria, the application process, and other relevant details.
Axis Bank Home Loan Key Features
Here are some of the key features of the Home Loan offered by Axis Bank:
| Competitive Interest Rates | Affordable Axis Bank home loan interest rates to suit various financial needs |
| Loan Amount Flexibility | Higher loan amount based on your eligibility |
| Nominal Processing Fees | Reasonable charges for processing home loan applications. |
| Minimal Prepayment/Foreclosure Charges | Low fees for prepayment or foreclosure of loans |
| Long Repayment Tenure | Extended loan tenures for easier repayment options |
| Multiple Rate Packages | Choose from multiple rate options such as fixed, floating, and hybrid rate options |
Axis Bank Home Loan Interest Rates
Axis Bank offers competitive interest rates on its home loan. The interest rates may vary based on the specific loan scheme depending on the choice of the client. Here’s a list with added information on the interest rates for different Axis Bank Home Loan Schemes:
1. Axis Bank Home Loan
Under this scheme, the interest rates are based on factors such as the client’s credit score, loan amount, and tenure. The interest rates can be either fixed or floating, depending on the borrower’s preference and market conditions.
| Current Floating Interest Rate | 8.75%- 9.15% |
| Current Fixed Interest Rate | 14% |
2. QuikPay Home Loan
This helps the client with growing responsibilities as it allows you to pay lesser compared to a regular axis bank home loan. The monthly installments are reduced every month, making a bigger saving on the interest.
3. Shubh Aarambh Home Loan
To provide quick and easy axis bank home loan with minimum documentation. Under this scheme, you can take advantage of interest subsidy under Pradhan Mantri Awas Yojana Scheme.
4. Fast Forward Home Loan
Helps you to get quick and easy home loans with minimum documentation. This scheme helps you take advantage of combined income to avail the maximum loan amount.
5. Asha Home Loan
Offers loans at an affordable interest rate. Clients can avail benefits such as funding up to 90% of property value.
6. Top-Up Home Loan
Helps you to avail extra finance against the mortgage of the property. It can be used for multiple purposes, personal or business.
7. Super Saver Home Loan
It helps you save on the total interest payable. Any surplus money can be deposited, allowing the client to save interest.
8. Power Advantage Home Loan
It allows the client to repay the amount borrowed with a fixed rate for the first two years and a floating rate for the rest.
By understanding the interest rates associated with different Axis Bank Home Loan schemes and the availability of top-up loans, borrowers can make informed decisions and choose the most suitable option that aligns with their financial goals and repayment capacity.
You can compare bank loan interest rates of different bank with NoBroker Home Loan Interest Rates
Axis Bank Home Loan Eligibility
Axis Bank considers several key factors when determining eligibility for a home loan. The specific criteria may vary depending on the loan scheme and type of applicant. Here are the eligibility requirements considered by Axis Bank for a home loan.
1. Age
The minimum age of the clients would be 18 years, and the maximum age limit is usually 70 years, subject to the client’s repayment capability.
2. Income
Axis Bank assesses the client’s income stability and repayment capability to determine the loan amount eligibility.
3. Employment Type
Axis Bank considers the client’s employment type, whether salaried, self-employed, or a professional during the evaluation of the loan application.
4. Credit Score
A good credit score will improve the chances of loan approval and favourable interest rates. Axis Bank evaluates the creditworthiness of the client.
5. Property Documents
The property being financed must be within the legal and technical requirements specified by Axis Bank.
Meeting these eligibility criteria increases the likelihood of getting your Axis Bank Home Loan approved.
Documents Required for Axis Bank Home Loan Application
When applying for an Axis Bank Home Loan, you need to submit certain documents. The documentation requirements may vary based on the applicant type and loan scheme. Here are some common documents required:
| 1. Identity Proof | PAN Card
Aadhaar Card Passport Voter ID Driving Licence |
| 2. Address Proof | Aadhaar Card
Passport Voter ID Utility Bills Rental Agreement |
| 3. Income Proof | Salary slips
Bank statements Income tax returns Audited financial statements for self-employed individuals |
| 4. Property Documents | Sale agreement
Property title deed Approved building plan Property tax receipts |
| 5. Other Documents | Passport-size photographs
Bank statements Employment proof |
Submitting precise and complete documents is crucial for an easy and smooth loan application process.
How to Apply for Axis Bank Home Loan
With the convenience of online application facilities, applying for an Axis Bank Home Loan has become an easy and convenient process especially with NoBroker Home Loan services. To assist you in the application process, here is a step-by-step guide for applying for an Axis Bank Home Loan.
- EMI Calculation
Before you plan to apply for an Axis Bank home loan, calculate how much you need to pay as EMI for the amount you are taking the loan with NoBroker Axis Bank Home Loan EMI Calculator.
- Check Eligibility
Check your eligibility for Axis Bank Home Loan using NoBroker Home Loan Eligibility Calculator.
- Visit the NoBroker Platform:
Go to the NoBroker Home Loan page and select Axis Bank as your preferred lender from the list of available options.
- Details and Documents
Fill in all the necessary details like name, phone number contact details, income, employment/business details, and the desired loan amount. And Upload the necessary documents, including proof of identity, address, income, property details, and more
- Submit Application
Once you fill in all the details and required documents, review your application and submit the application .
- Application Review
Once the home loan application is submitted, the Bank will review your application and may request additional documents if necessary.
- Loan Approval and Disbursement
Once the application is approved, the loan amount will be disbursed to your bank account.
By following these steps, you can complete the Axis Bank Home Loan application process conveniently and efficiently with NoBroker Home Loan services.
Tax Benefits on Axis Bank Home Loan
Here are the tax benefits on availing an Axis Bank Home Loan, depending on the type of homebuyer and property type:
Section 80EE:
First-time home buyers are eligible to avail an additional deduction of up to ₹50,000 on the interest on home loans under section 80EE of the Income Tax Act. However, there are certain conditions which are as follows:
- The loan amount must be ₹35 lakhs or less, and the property must not exceed ₹50 lakh.
- The loan has to be sanctioned between 1st April 2016 to 31st March 2017.
Section 24(b) (Self-Occupied Property):
You can avail a tax deduction of up to ₹ 2 lacks on availing a home loan for the purpose of purchasing or constructing a house. The amount of deduction is the interest incurred during the year. However, there are certain conditions which are as follows:
- The construction of the house must be completed within a period of 5 years from the FY end in which the loan was taken.
- Moreover, the interest during the pre-construction period is also allowed for a deduction of up to ₹2 lakh.
Section 24(b) (Let out Property):
In case it is a let-out property then there is no upper limit for tax deduction. i.e. the entire interest component of the loan can be claimed as a deduction.
Please note that the construction of the house must be completed within the period of 5 years from the FY end in which the loan was taken. However, if it exceeds 5 years then you can claim a deduction of an amount up to ₹30,000 in a year.
Axis Bank Home Loan Customer Care
If you have any questions or need assistance regarding Axis Bank Home Loans, you can contact their customer care team. Here are the contact details for Axis Bank Home Loan Customer Care that you can use to get in touch with them.
| Toll-Free Number | 1800-419-5959 |
Feel free to contact them for any information or support related to your Axis Bank Home Loan journey.
Conclusion
To sum up, Axis Bank being one of the biggest private commercial banking companies offers exciting opportunities to fulfil the dream of owning a house. It offers competitive interest rates, extended repayment options, nominal processing fees and multiple rate packages to cater to the diverse consumer requirements.
Additionally, the bank provides easy accessibility, robust customer support, and value-added benefits like balance transfer options, top-up loans etc. If you are seeking a home loan with transparent terms and excellent service, Axis Bank Home Loan can be the ideal option for you.
