AXIS Bank Home Loan Interest Rates & Eligibility
8.80%
For Salaried - 8.80%
For Self-Employed - 8.85%
Axis Bank Home Loan Overview
Overview
Axis bank is the third largest private sector bank in India with headquarters in Mumbai. Axis has a network of 2,829 branches along with 12,922 ATMs across the country. As of March 31 2015, the total assets of Axis bank are worth Rs 4,61,932Crores. (Source: axisbank.com )
Advantages
They are well known for their customer service. The Edge loyalty programs provide you with reward points which can be redeemed during online shopping.
Disadvantages
No concessional interest rates for Women borrowers
Current Interest Rate
General Interest Rate - 8.80%
For Salaried - 8.80%
For Self-Employed - 8.85%
Rate trends:
Axis Bank Home Loan Eligibility
Eligibility
- Minimum age limit: 24 years
- Maximum age limit: 60 years
- Any individual irrespective of being salaried or self-employed can apply for a home loan, provided he has a steady income.
Axis Bank Home Loan Documentation
KYC (Know
your Customer)
documents
- Personal ID
- Address Proof
- Pan Card
Income proof
- Salary Slip for 3 Months &
- Income Tax Returns or Form 16.
Property
Documents
- Agreement
- Index 2
- Architectural Certificate
For Switching your Home Loan, the documents needed will be Current Bank Documents & Bank Statement.
This plan helps borrowers avail a loan for an under-construction property, ready or a resale property. As the EMIs start immediately after the first disbursement, it ensures a faster repayment of the loan.
Asha Home LoansThis loan has been specifically designed for buying low cost properties. The maximum loan amount that can be borrowed is 28Lc. With this loan plan, a borrower can take a loan upto Rs. 28 Lacs. The minimum monthly income for a borrower is between Rs 8,000- 10,000per month.
Empower Home LoansThis type of a loan is designed for self-employed individuals for buying an under construction property, resale or a new property.. A minimum of Rs. 10 Lacs can be borrowed under this scheme. On maintaining a good repayment track record, the borrower is rewarded with three rate-reductions from the date of the first disbursement.
A. You can avail a home loan from Axis Bank. As long as you can provide the necessary documents like salary slips & tax returns/ Form 16, receiving the salary in cash will not be a problem for you.
Q. What’s the process to take my next disbursement?A. The Disbursal Request form, the original demand letter from the builder and receipts of the payment made to the builder are the documents which will be needed to start your next disbursement.
Q. . If the construction process is not going ahead as planned by the builder, how will it affect my loan for an under-construction property?A. In cases when the construction of a property is not according to the original plan or if there are any delays, then the bank has the right to disburse a smaller amount of money or it may decide to not disburse at all. As disbursement is at the sole discretion of the bank, it retains the right to make disbursements after internal checks.
Q. What is the time taken by the bank to make part disbursement?A. The time taken by the bank depends solely on the category of your property. The bank categorizes properties as either APF (Approved Project Facility) or Non-APF If the property falls under APF then it will take a minimum of 5 days, and if it falls under Non APF then it should take 7 days.
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