Axis Bank - Happy Ending Home Loan Interest Rates & Eligibility
Rs. 20 Lakh-1 Crore
9.95% - 10.45%
For salaried: 9.95%
For self-employed: 10.25% - 10.45%
Overview
In this home loan, you could get your last 12 EMIs waived off only by paying your EMIs regularly on time.
This scheme could be availed for purchasing an under construction/ ready/ resale house, self-construction, plot along with construction loans. This encourages and puts some pressure on the borrower to pay back during the loan term, but being punctual will reward you finally and largely.
Axis Bank offers the following interest rates under this scheme:
For salaried:
Floating- 9.95% p.a
For self employed:
Floating:
Loans below 75 lacs - 10.25% p.a
Loans above 75 lacs – 10.45% p.a
Key Features
The amazing scheme that it is, you have to make sure of the following conditions to avail full benefits of the loan:
- Make sure that track record is clean. Only 3 instances where dues are pending for 30 days and above are allowed but never more than 90 days during the life of the loan
- Minimum tenure at the time of disbursement needs to be 20 years. You can also part pay your loan, but only after 15 years.
- The bank also allows you to transfer your existing home loan to this scheme with any hassles.
- The maximum tenure under this scheme is 30 years for salaried and self-employed customers to the age of the borrower not exceeding 60 years or 65 years respectively at loan maturity
Eligibility
- 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.
Processing Fees
1% of total amount minimum being Rs 10,000.
Document Required
Application form
- Photograph of applicant & co-applicant attached to application form
- Identity and address proof of applicant / co-applicant
- Copy of PAN card of applicant /co-applicant
- Bank statements from all current accounts (in case of sole proprietor / firm) & savings bank accounts (in case of individual) for last 6 months.
For salaried:
- Last 3 salary slips
- Latest form 16 in case of salaried customers.
For self employed:
- Business continuity proof for last 3 years and ITR/ Computation of Income/ Audited financials of applicant /co-applicant for 2 years
- Processing fee cheque
- Property documents
Note: All documents listed above are only indicative of the general list of documents requested by the bank, these may vary depending on your location and financial history. Do check with your bank while applying for the loan.
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
Check how much you can save
