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Axis Bank Home Loan Interest Rates

Home Loan Bank Information

Bank Name
Interest
Tenure
Processing Fees
Kotak Mahindra Bank
6.55%
1 - 20
YEARS
Rs 20000
+ GST
HDFC
6.7%
1 - 30
YEARS
Rs 3000
+ GST
Bajaj Housing Finance
6.8%
1 - 20
YEARS
0.3 %
+ GST
LIC Housing Finance
6.9%
0 - 30
YEARS
Rs 10000
+ GST
See More Offers

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.

  • Axis Bank home loan facilitates its customers with varied options for a home loan in two different rate packages, floating rate and fixed rate.
  • The rate of interest on the floating rate loans can be diversified throughout the loan tenure as per the Bank’s discretion.
  • The Bank offers fixed-rate home loans where the interest rate stays the same throughout the whole loan tenure. The fixed interest rate starts at 12% per annum.
  • It also offers floating interest rate loans which start at 6.90% per annum.
  • The maximum tenure period is also different for floating rate home loans and fixed-rate home loans being 30 years and 20 years respectively.

Axis Bank Home Loan Details

Interest Rate 6.90% p.a
Loan Amount Based on income
Processing Fees 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 Years
Rate Packages Available Floating/Fixed

Axis Bank Home Loan Interest Rates

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.

Axis Bank Home Loan Floating Rate

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%

Axis Bank Home Loan Fixed Rates

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 NA
Super Saver Home Loan NA
QuikPay Home Loan NA

Note: Maximum loan tenure allowed for fixed interest rate home loans is 20 years.

Various Axis Bank Home Loan Schemes

 

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.

1. Axis Bank Shubh Aarambh Home Loan

Features:

  • Special interest rate subsidy under the Pradhan Mantri Awas Yojana
  • A healthy banking history leads to EMI being relinquished for 12 EMIs
  • The maximum given loan amount is 30 lakhs
  • Balance transfer facility
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)

2. Axis Bank Fast Forward Home Loan

Features:

  • No prepayment taxes
  • A healthy banking history record leads to EMI being relinquished for 12 EMIs
  • The maximum tenure of 30 years
  • Minimum Rs 30 lakhs financing
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)

3. Axis Bank Asha Home Loan

Features:

  • The maximum loan amount given is 28 lakh
  • A healthy banking history leads to EMI being relinquished for 12 EMIs
  • Up to 90 % funding of gross property rate
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)

4. Axis Bank NRI Home Loan

Features:

  • Least processing tax charged
  • Adjustable loan tenure
  • Easy and trouble-free procedure
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)

5. Axis Bank Super Saver Home Loan

Features:

  • Minimum Rs 50 lakh financing
  • No prepayment taxes
  • Up to 22 years of the loan tenure
Interest Rate Processing Fee
Starts from 8.15% p.a. Up to 1% of the loan amount + GST

6. Axis Bank QuikPay Home Loan

Features:

  • No prepayment taxes
  • Balance transfer facility
  • Customers can pay greater principal earlier during the loan tenure
Interest Rate (Self-Employed) Interest Rate (Salaried)
16 8.20% p.a. onwards (floating rate) 15 7.95% p.a. onwards (floating rate)

7. Axis Bank Power Advantage Home Loan

Features:

  • The same interest rate for the first two years of the loan tenure
  • Special interest rate subsidy under the Pradhan Mantri Awas Yojana
  • Balance transfer facility
  • Easy and trouble-free procedure and fast loan sanctioning
Interest Rate (Self-Employed)  Interest Rate  (Salaried)
Starts from 8.05% p.a. (fixed + floating rate  Starts from 8% p.a. (fixed + floating rate)

8. Axis Bank Home Loan Interest Rates for Loan Balance Transfer

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%.

Factors on which Axis Bank Home Loan Interest Rates depend

The Axis Bank Home Loan Interest Rate relies on various factors such as:

Loan Amount

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

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.

Loan to Value ratio

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.

Applicant’s Income

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.

Applicant’s Credit Score

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.

FAQs

Q1. What is the current loan processing fee of Axis Bank home loans?

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.

Q2. Can I get a Home Loan Top-Up with my existing Home Loan?

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.

Q3. How can I increase my chances of getting a home loan with Axis Bank?

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.

Q4. Can Axis Bank Home Loan interest rates be negotiated?

Yes, if the applicant maintains a healthy credit score and good payment record, they can negotiate with the bank for lowering the interest rate.

Q5. Does an Axis Bank employee get some interest rate concession?

Yes, an Axis Bank employee gets concessional interest rates of about 1% compared to the existing home loan rates.

Q6. Have the Axis Bank Home Loan Interest Rates been reduced?

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.

Q7. Can a borrower pay an elevated principal loan amount at the start of the loan tenure?

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.

Q8. Can an applicant transfer his external loan from some other bank to Axis Bank?

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.

Q9. What is the minimum loan amount that Axis Banks offers?

The minimum home loan amount that Axis Bank can offer their customers is Rs 1 lakh.

Q10. Can an applicant shift his floating interest rate home loan to a fixed-rate home loan or vice versa?

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.

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