Understand All About Axis Bank Home Loan

by Kirti Singh Content Marketer

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 Home Loan Schemes	Salaried	Self-Employed
Axis Home Loan	6.90% p.a. - 8.40% p.a.	7.95% p.a. – 8.55% p.a.
Axis QuikPay Home Loan	7.95% p.a. - 8.45% p.a.	9.15% p.a. - 9.35% p.a.
Axis Power Advantage Home Loan	8% p.a. - 8.35% p.a.	9% p.a. – 9.20% p.a.
Axis Shubh Aarambh Home Loan	7.75% – 8.25% p.a.	8.95% p.a.
Axis Fast Forward Loan	7.75% – 8.25% p.a.	8.95% p.a. - 9.15% p.a.
Axis Asha Home Loan	10.05% p.a. – 11% p.a.	10.30% p.a. - 11.50% p.a.
Axis Super Saver Home Loan	8.15% p.a. – 8.30% p.a.	9.20% p.a. - 9.35% p.a.
Axis Top Up Home Loan	At the bank’s discretion	Starting from 8.90% p.a.

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-

Axis Home Loan Schemes	Interest Rate for Salaried/ Self-Employed
Home Loan	12% p.a.
Power Advantage Home Loan	8.40% p.a.
Shubh Aarambh Home Loan	12% p.a.
Fast Forward Loan	12% p.a.
Asha Home Loan	12% p.a. – 12.50% p.a.
Top Up Home Loan	12% p.a.

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-