Axis Bank provides fast and transparent home loans with quick sanctioning procedures and easy repayment options. The Bank provides customers with great support for property investments with a variety of loan products and options.
Interest Rate | 6.90% p.a |
ऋण राशि | Based on income |
प्रोसेसिंग शुल्क | Min. Rs. 10,000 or up to 1%. |
Penal Interest Rate | 24% p.a. or 2% per month |
Prepayment/Foreclosure Charges | 0 – 2% |
Max Tenure | 30 वर्ष |
Rate Packages Available | Floating/Fixed |
Axis bank offers different interest rates on different home loan schemes. The interest rate related to home loans solely depends on the kind of interest rate the customer has selected and whether the customer is salaried or self-employed.
Here is a table for Axis Bank Floating Rate Home loans:
Axis Home Loan Schemes | Self-Employed (p.a.) | Salaried (p.a.) |
Axis Home Loan | 7.95% to 8.55% | 6.90% to 8.40% |
Axis Shubh Aarambh Home Loan | 8.95% | 7.75% to 8.25% |
Axis QuikPay Home Loan | 9.15% to 9.35% | 7.95% to 8.45% |
Axis Asha Home Loan | 10.30%. to 11.50% | 10.05% to 11% |
Axis Power Advantage Home Loan | 9% to 9.20% | 8% to 8.35% |
Axis Fast Forward Loan | 8.95%. to 9.15% | 7.75% to 8.25% |
Axis Top Up Home Loan | Starting from 8.90% | At the bank’s discretion |
Axis Super Saver Home Loan | 9.20%. to 9.35% | 8.15%. to 8.30% |
Here is a table for Axis Bank Fixed Rate Home loans:
Axis Home Loan Schemes | Interest Rate for Salaried/ Self-Employed |
Home Loan | 12% p.a. |
Shubh Aarambh Home Loan | 12% p.a. |
Asha Home Loan | 12% p.a. – 12.50% p.a. |
Power Advantage Home Loan | 8.40% p.a. |
Fast Forward Loan | 12% p.a. |
Top Up Home Loan | 12% p.a. |
Empower Home Loan | एनए |
Super Saver Home Loan | एनए |
QuikPay Home Loan | एनए |
Note: Maximum loan tenure allowed for fixed interest rate home loans is 20 years.
Axis Bank offers various kinds of home loan schemes to both salaried and self-employed customers.
Here is a list of Axis Bank home loan interest rates offered with different schemes.
Features:
Interest Rate (Self-Employed) | Interest Rate (Salaried) |
Starts from 8% p.a. (floating rate) | Starts from 6.90% p.a. (floating rate) |
12% p.a. (fixed rate for 20 years) | 7.95% p.a. (fixed rate for 20 years) |
Features:
Interest Rate (Self-Employed) | Interest Rate (Salaried) |
Starts from 8% p.a.(floating rate)
|
Starts from 6.90% p.a. (floating rate) |
12% p.a. (Fixed Rate for 20 years) | 7.95% p.a. (Fixed Rate for 20 years) |
Features:
Interest Rate (Self-Employed) | Interest Rate (Salaried) |
Starts from 10.30% p.a. | Starts from 10.05% p.a. |
12 – 12.50% p.a. (fixed rate for 20 years) | 12 – 12.50% p.a. (fixed rate for 20 years) |
Features:
Interest Rate for (Self-Employed) | Interest Rate (Salaried) |
Starts from 8.55% p.a.(floating rate) | Starts from 6.90% p.a. (floating rate) |
12% p.a. (Fixed Rate) | 7.95% p.a. (Fixed Rate) |
Features:
Interest Rate | Processing Fee |
Starts from 8.15% p.a. | Up to 1% of the loan amount + GST |
Features:
Interest Rate (Self-Employed) | Interest Rate (Salaried) |
16 8.20% p.a. onwards (floating rate) | 15 7.95% p.a. onwards (floating rate) |
Features:
Interest Rate (Self-Employed) | Interest Rate (Salaried) |
Starts from 8.05% p.a. (fixed + floating rate | Starts from 8% p.a. (fixed + floating rate) |
Axis Bank provides a balance transfer facility for those customers who are paying a high-interest rate at their prevailing lender. This facility is very beneficial for such customers as they can transfer their prevailing home loan to Axis Bank at a relatively lower interest rate and that too, without closing down the account. Though, if the current lender has put on a foreclosure tax on the home loan, the customer might have to pay some charges to him. At present, the starting Axis Bank home loan interest rate for balance transfer is 6.66%.
The Axis Bank Home Loan Interest Rate relies on various factors such as:
Axis bank home loan interest rates highly depend on the loan amount called by the customer. The higher the loan amount, the higher its interest rate will be.
Interest rate type also affects your interest rate. Axis Bank home loan interest rates are of two types, floating and fixed. Both the options offer the customer different rates.
The loan amount permitted by the bank is a ratio of the loan revenue and property value. The Axis Bank home loan interest rates also depend on it. However, the loan to value ratio changes in accordance with the down payment and loan amount.
Customer’s income is a major factor for interest rate. Applicants, who are government employees, or self-employed professionals such as CAs or Doctors, generally have higher odds of getting lower interest rates due to their stable income as it exhibits a safe assurance of the repayment of the loan amount. On the other hand, self-employed or business applicants normally get a little higher interest rate as their work involves a risk of loss.
Axis bank home loan interest rates are majorly affected by the credit score of the applicant. Those applicants, who have a low credit score or unhealthy credit record, generally get a high-interest rate because of the repayment risk their credit record shows. On the other hand, those applicants, who have a good credit score and pleasant credit history can easily get a home loan with a low-interest rate.
Axis Bank home loan processing fee solely depends on the loan amount sanctioned. As for now, the bank charges 1% of the total amount sanctioned as processing fees.
Yes, Axis Bank offers its customers to top up their existing home loan on more than 30% of the current amount at Home Loan rates only.
An applicant should make sure that they fulfil all the required eligibility criteria for Axis Bank home loans. Moreover, the applicant should also prepare all the required documents for the loan application. Another deciding factor is good credit history, so the applicant should maintain a good credit score by doing precise payments of any other existing loan.
Yes, if the applicant maintains a healthy credit score and good payment record, they can negotiate with the bank for lowering the interest rate.
Yes, an Axis Bank employee gets concessional interest rates of about 1% compared to the existing home loan rates.
Yes, Axis Bank has reduced its interest rate from 6.70% to 6.66%, which makes it a cut down of 0.04% interest rate.
Yes, if the applicant has applied for the Axis Bank QuickPay Home Loan scheme, they can pay a higher amount at first to lessen the interest burden.
Yes, Axis Bank offers some loan schemes which facilitate the balance transfer feature, allowing the customers to transfer their external loan to Axis and pay at a lower interest rate.
The minimum home loan amount that Axis Bank can offer their customers is Rs 1 lakh.
Yes, an applicant can shift his current existing loan interest type into the other. However, they may have to pay some extra charges for doing so.