Axis Bank Home Loans - Interest Rate

Owning a home is considered the most satisfying feeling at least in India. People see this as an achievement and work hard to get the feeling of homeownership.

To further encourage more people to build their dream living space, Axis Bank has multiple housing loan options to cater to different kinds of people. Emerging as a reputed and reliable financial institution that provides a wide spectrum of home loan options, Axis Bank provides home loans with competitive housing loan interest rates.

So, get ready to learn more about Axis Bank Home Loan Interest Rate and take one step further towards your most anticipated feeling. 

Axis Bank Home Loan Interest Rate — Latest Details and Offers

Axis Bank’s interest rates for home loans start from 8.75% p.a. and 9.10% p.a. for salaried and self-employed individuals respectively, with a bureau score of 751 and above. You can get a home loan amount ranging from Rs 3 lakhs to Rs 5 crore. 

Your interest rate is determined by multiple factors such as what home loan scheme you chose, which type of interest rates (floating or fixed) you’d like to move forward with, how much loan amount you want to borrow, and your occupation profile. 

Axis Bank offers a variety of home loan interest rates tailored to different borrower profiles and needs. For the Standard Home Loan (vanilla salaried, home loans including plot), salaried individuals can access rates starting at 8.75% per annum for a bureau score of 751 or higher, while scores between 700-750 qualify for 9.50%, and those with 700 and above may secure rates at 9.65%. Individuals with no credit history can avail loans at 9.30%.

For the Asha Home Loan program, floating interest rates range from 10.50% to 12.85% per annum for salaried applicants and from 12.00% to 13.30% per annum for self-employed individuals. Additionally, Axis Bank offers fixed home loan interest rates set at 14% per annum, providing a stable option for borrowers seeking predictability in their repayment plans.

The repayment tenure you get can vary depending on the type of interest rate you choose. For floating-rate loans, the tenure can be extended up to 30 years, and for fixed-rate loans, you can get a repayment tenure of 20 years.

By offering more aligned home loan products with your varied financial goals, Axis Bank makes your journey to homeownership a breeze with the following benefits: 

• You get a wide range (Rs 3 lakh to Rs 5 crore) of loan amounts for your diverse property requirements.

• Provide you with two types of interest rate options (fixed/floating) to choose from at your convenience.

• It mirrors a seamless and quick application process to approve your home loan.

• It provides easy transfer options for existing home loans to Axis Bank’s favorable terms.

• For further providing ease and convenience, it features online loan management.

• With Axis Bank home loans, up to 90% of the entire cost of the property can be financed. 

• No prepayment charges are required when it comes to floating-rate home loans.

• It offers affordable and flexible EMIs for hassle-free financial planning. 

• Axis Bank offers multiple home loan schemes (Axis Home Loan, Axis QuickPay Home Loan, Axis Power Advantage Home Loan, Axis Shubh Aarambh Home Loan, Axis Fast Forward Loan, Axis Asha Home Loan, Axis Super Saver Home Loan, Axis Top Up Home Loan, and Pradhan Mantri Awas Yojna) to fulfill various purposes and target many different individuals.

 

Processing Fees and Additional Charges for Axis Bank Home Loans

For providing a specific home loan plan, Axis Bank requires a minimum of Rs. 10,000 plus relevant taxes and levies a processing fee equal to 1% of the loan amount. The following table gives you a clear picture of processing fees and additional charges related to Axis Bank home loan:

 

 

Eligibility Criteria for Axis Bank Home Loans

To be eligible for the Axis Bank home loans, you must fall into the category of salaried, self-employed, or any kind of professional. Throughout your loan tenure, you should have a clean track record. 

There should be no instances of past-due amounts exceeding 90 days, and no more than three instances of past-due amounts above 30 days. There should not be any penal charges or any other charges due on you to be an eligible person for Axis Bank home loans.

 

Axis Bank Eligibility Criteria

 

 

EMI Calculations for Axis Bank Home Loans

 

Now, you have enough information on home loans provided by Axis Bank. The Next most possible step for you is to know the intricacies of home loans before opting for any plans. This includes the calculation of total interest, EMIs, and total repayment amount. To make it an easy and accessible calculation for you, Axis Bank offers an online home loan EMI Calculator, which lets you know about these above figures in a very simple manner. You’ll all have to enter your desired loan amount (from 3 lakhs to 5 crores), loan tenure (up to 30 years) that aligns with your financial planning, and an applicable interest rate (starting from 8.75% p.a.), and guess what, you have your exact figures on your mobile or computer screen with minimal efforts.

Pay attention to the following table to get more clarity on EMI Calculations for Axis Bank Home Loans:

 

Conclusion

By offering diverse home loan schemes at an affordable interest rate, Axis Bank undoubtedly emerges as the trusted financial institution for people who have a dream of homeownership. Axis Bank home loan plan caters to salaried, self-employed, and professionals at different interest rates.

Considering the associated fees with Axis Bank home loan is crucial for you to understand its intricacies. Make sure to check the eligibility criteria and collect the required documents as per your employment type. You can use the Axis Bank Home Loan EMI calculator for smart budgeting, receiving a detailed breakdown of your repayment, interest tracking, and future forecasting. 

So there you have it! Now if you executed this article’s insights on your home loan procedure, you are very well settled to get your dream home soon!