Axis Bank - Asha home loan Interest Rates & Eligibility
Rs. 1 lakh - Rs. 28 lakhs
10.45% - 10.70%
For salaries: 10.45%
For self-employed: 10.70%
Overview
Asha home loan is designed for small budget loans.
The loan offers a minimum amount of 1 lac to a maximum of 28 lacs for the purpose of purchasing a ready or under construction or resale property.
It is also available for the purchase of a plot and construction of a house on it or a loan for constructing a house on a plot already owned by you.
Floating:
Salaried:- 10.45% p.a
Self employed:- 10.70% p.a
and Fixed Rate of Interest is at 11.75% p.a.
Key Features
The loan can be availed for properties starting from 300 (400) (saleable) sq.ft area
- If the property costs Upto 20 lacs, you can borrow up to 18 lacs for the property. I.e. 90% of the property cost.
- Also, a combined loan can be opted for under this scheme wherein the combined income of your spouse, parents and children amounts to at least Rs 8000 p.m./10000 p.m. depending upon your location.
- The maximum loan repayment period permitted is 30 years so that smaller EMIs over a large tenure mean greater comfort for you.
Eligibility
Here’s the General Home Loan Eligibility Criteria of Axis Bank:
Eligibility for this home loan will be decided by Axis bank based on the specifics of your application and financial history.
- Salaried Individuals
Individuals in permanent service in the Government or reputed companies meet our Home Loan eligibility criteria
Applicants should be above 24 years of age at the time of loan commencement and up to the age of 60 or superannuation, whichever is earlier at the time of loan maturity. - Professionals
Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply.
Applicants above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity meet our housing loan criteria. - Self Employed Individuals
Any individual filing income tax returns can apply
Applicants should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
Processing Fees
Upto 1% of the loan amount subject to minimum of Rs. 10,000/-
Document Required
For identity proof:
Passport or Voter's ID card or Driving License or Job Card issued by NREGA or Aadhar Card or PAN card or any other document as acceptable to the Bank
Bank statement or Passbook for the last 6 months where salary or income is credited for salaried and self employed applicants
Proof of income for:
Salaried:- Salary Slips or Income Tax Return or any other relevant document to establish regular income as acceptable to the Bank
Self employed:- IT Returns, P & L accounts & B/S or any other relevant document to establish a source of regular income from business or profession as acceptable to the Bank
Link: http://www.axisbank.com/personal/loans/home-loan/asha-home-loans/features-and-benefits.aspx
Axis Bank
Introduction:
Axis bank is the third largest private sector bank in India. They offer home loans, personal loans and are a large distributor of personal accounts.
They are spread across India with 2402 branches, extension counters and 12922 ATMs and also have eight international offices with branches at Singapore, Hong Kong, Dubai, Shanghai and Colombo and representative offices at Dubai and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment banking and liability businesses.
Their home Loan products include:
Happy ending home loans, Loan for self employed and Asha home loans which are affordable and a good option for the salaried and the self employed.
Their home loans are available to salaried and self-employed customers to the age of the borrower not exceeding 60 years or 65 years respectively at loan maturity.
Other requirements for eligibility will be decided by bank.
It is the largest distributer of loans and savings accounts at the same time. It is regulated by RBI and has schemes, loans and exclusive packages that cater to the housing finance needs of all classes.
Advantages of borrowing from this bank:
Private sector banks like AXIS are more efficient and competitive than public sector banks. They ensure customer satisfaction at the end of the day by providing faster and quality services at higher but reasonable rates.
They offer switching of your home loan to AXIS hassle free and at low rates.
More Schemes
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