Axis Bank Home Loan
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Axis Bank Home Loan Home Loan Features and Benefits
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Loan Amount
Axis Bank Home Loan offers a range of home loan schemes catering to diverse needs, providing loan amounts of up to Rs. 5 Crores, thus accommodating individuals from various segments of society.
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Interest Rate
Axis Bank Home Loan Home Loan ensures affordability with competitive interest rates starting from 8.75%, thereby making EMIs manageable for all.
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Prepayment/Foreclosure Charges
Axis Bank Home Loan Home Loan allows prepayment or foreclosure without incurring any additional charges.
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Processing Fees
The processing fee for Axis Bank Home Loan Home Loan begins at 1%, depending on eligibility and the chosen home loan.
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Application Process
Applying for an Axis Bank Home Loan Home Loan is convenient, whether through a visit to the nearest branch or via online application from the comfort of one's home.
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Flexible Tenure
Axis Bank Home Loan Home Loan offers a maximum repayment tenure of up to 30 years with flexibility to choose a tenure according to repayment capability.
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Balance Transfer Facility
Axis Bank Home Loan allows its customers to transfer their existing home loan to another bank or NBFC without any prepayment charges, enabling customers to access better rates and benefits.
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Minimum Documentation
Axis Bank Home Loan simplifies the home loan process and expedites disbursal by requiring minimal documentation from customers.
Required Documents for Axis Bank Home Loan
For Salaried Individuals:
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Duly filled out the home loan application form
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ID Proof (any one): Aadhaar card, passport, voter ID, driving license
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Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
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Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
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Pay slips for the last 3 months
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Bank statements showing salary credits for the previous six months
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Form 16 for the last two years
For NRI (Salaried Individuals):
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Similar documents as above with additional requirements:
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Contract letter/appointment letter
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Passport Copy
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Valid VISA copy
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Overseas credit report
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International and domestic bank statements for the last six months
For Self-Employed Individuals:
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Duly filled out the home loan application form
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ID Proof (any one): Aadhaar card, passport, voter ID, driving license
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Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
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Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
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Income Tax Returns (ITR) for the last two years
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Profit & Loss statement, Balance sheet with CA seal and sign
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Bank statements for personal and business accounts for the previous six months
Axis Bank Home Loan EMI Calculator
A Home Loan EMI (Equated Monthly Installment) Calculator is a financial tool that helps borrowers estimate their monthly repayment amount for a home loan. It is based on the loan amount, interest rate, and tenure and gives clarity on the financial commitment associated with a home loan.
Example of EMI Calculation:
Using an Axis Bank Home Loan EMI Calculator:
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Loan Amount: Rs. 20 lakh
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Interest Rate: 8.70% per annum
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Tenure: 20 years
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The calculated EMI amount would be Rs. 17,610 per month.
| Loan Amount |
10 years |
20 years |
30 years |
| Rs. 10 lakh |
Rs. 12,506 |
Rs. 8,805 |
Rs. 7,831 |
| Rs. 20 lakh |
Rs. 25,012 |
Rs. 17,610 |
Rs. 15,663 |
| Rs. 30 lakh |
Rs. 50,023 |
Rs. 35,221 |
Rs. 31,325 |
| Rs. 40 lakh |
Rs. 62,529 |
Rs. 44,026 |
Rs. 39,157 |
Axis Bank Processing Fees & Other Charges
| Particulars |
Applicable Charges (exclusive of GST) |
| Processing Charges |
Up to 1% of the loan amount, subject to a minimum of Rs. 10,000 |
| Prepayment Charges (Floating Rate Loan) |
None |
| Penal Interest Rate |
24% per annum, 2% per month |
| Prepayment Charges (Fixed-Rate Loan) |
2% of the principal outstanding |
| Switching Fees (Floating Rate to Fixed Rate) |
1% on outstanding principal, minimum of Rs. 10,000 |
| Switching Fees (Base Rate/BPLR to MCLR) |
When the effective rate remains the same: No fees When the effective rate is revised: 0.5% on the outstanding principal, a minimum of Rs. 10,000 |
| 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) 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) |
As per the applicable insurance premium |
Required Documents for Axis Bank Home Loan
For Salaried Individuals:
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Duly filled out the home loan application form
-
ID Proof (any one): Aadhaar card, passport, voter ID, driving license
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Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
-
Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
-
Pay slips for the last 3 months
-
Bank statements showing salary credits for the previous six months
-
Form 16 for the last two years
For NRI (Salaried Individuals):
-
Similar documents as above with additional requirements:
-
Contract letter/appointment letter
-
Passport Copy
-
Valid VISA copy
-
Overseas credit report
-
International and domestic bank statements for the last six months
For Self-Employed Individuals:
-
Duly filled out the home loan application form
-
ID Proof (any one): Aadhaar card, passport, voter ID, driving license
-
Address Proof (any one): Aadhaar card, passport, utility bills (electricity, telephone, gas)
-
Date of Birth Proof (any one): Passport, PAN Card, Birth certificate
-
Income Tax Returns (ITR) for the last two years
-
Profit & Loss statement, Balance sheet with CA seal and sign
-
Bank statements for personal and business accounts for the previous six months
Home Loan EMI Calculator
- Offers from 34+ Banks
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Tax Benefits on Axis Bank Home Loan Home Loan
First-time homeowners can save an additional Rs 50,000 on interest due to Section 80EE. Under Section 24(b), interest on home loans for self-occupied houses can be reduced by up to Rs 2 lakh. The amount that may be written off as interest on a house loan for a property that is rented out rather than lived in by the homeowner is unlimited. Section 10(14) exempts residents of leased housing from paying House Rent Allowance (HRA)
How to Apply for Axis Bank Home Loan Home Loan
You can apply for Axis Bank Home Loan home loan online on Magicbricks by following the given steps:
- PNB Housing Finance Limited Home Loan
- Sundaram Home Finance Limited Home Loan
- Tata Capital Housing Finance Home Loan
- Aditya Birla Housing Finance Home Loan
- IDFC First Home Loan
- Poonawalla HFL Home Loan
- Union Bank of India Home Loan
- Karnataka Bank Home Loan
- Mahindra Housing Finance Home Loan
- Shubham Housing Finance Home Loan
- Quick Links
- Home Loan EMI Calculator
- Home Loan Eligibility Calculator
- Home Loan Documents
- Home Loan Types
- Home Loan Interest Rate
- Home Loan Prepayment Calculator
- Home Loan Balance Transfer
- Home Loan Tax Benefits
- Home Loan Processing Fee
- Home Loan Process
- Home Loan Status
Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)
**This service is available in select cities only.
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.