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AXIS BANK HOME LOAN

Home Loan

Fulfil your dream of owning a home with the Axis Bank Home Loan which offers home loans starting at Rs. 3,00,000. The Axis Bank Home Loan comes with a host of benefits such as smaller EMIs where you can space out your payment over a longer tenure, attractive interest rates, an easy application process, doorstep service, etc. Find out more about the Axis Bank Home Loan below.

Home Loan Details

  • Loan Amount Up to Rs 5 crore

  • Loan Tenure Up to 30 years

  • Floating Interest Rate 8.75% - 9.15%

  • Fixed Interest Rate 14%

  • Processing Fee Up to 1% of the loan amount +GST (minimum Rs 10,000)

  • Minimum Loan Amount Rs. 3 Lakhs

  • No PrePayment Charges

  • Smaller EMIs

Interest Rates on Home Loans

For Salaried Individuals

Floating Rate (Repo Rate + Spread) Repo Rate + 2.50% to Repo Rate + 2.90% & (Effective Rate of Interest) 8.75% - 9.15% p.a.

Fixed Rate (Repo Rate + Spread) All Loan Amounts (Effective Rate of Interest) 14% p.a.

For Self Employed Individuals

Floating Rate (Repo Rate + Spread) Repo Rate + 2.60% to Repo Rate + 2.90% & (Effective Rate of Interest) 8.85% - 9.15% p.a.

Fixed Rate (Repo Rate + Spread) All Loan Amounts (Effective Rate of Interest) 14% p.a.

Axis Bank Home Loans offer a host of benefits to help you fulfil your dream of owning a home.

Salaried individuals are eligible for home loan

  • Individuals in permanent service in the Government or reputed companies fall under the home loan eligibility criteria.

  • Applicants should be above 21 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. You can check the amount you need to pay as EMI with the Home Loan EMI Calculator.

Professionals eligible for home loan

  • Professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) meet the Axis Bank Home Loan eligibility criteria.

  • Applicants above 21 years of age at the time of home loan commencement and up to 65 years or less at the time of home loan maturity meet our home loan eligibility criteria.

Self-employed individuals eligible for home loan

  • Any individual filing income tax returns can apply

  • Applicants should be above 21 years of age at the time of the commencement of the home loan and up to 65 years or less at the time of maturity of the home loan

Home Loan Borrowing Limits

  • Minimum - Rs. 3 lakhs

Margins

  • For home loan upto Rs. 30 Lakhs - 10%

  • For home loan above Rs. 30 Lakhs upto Rs. 75 Lakhs - 20%

  • For loan above Rs. 75 Lakhs - 25%

Submit the documents listed below and get a Home Loan 

 Mandatory Documents

  • Application Form

  • PAN Card

 Proof of Identity & Proof of Address

  • Aadhaar Card

  • Passport

  • Driving License

  • Voter ID

  • GOI issued Photo ID

  • Govt Employee ID

  • Electricity Bill

  • Gas Bill

  • Telephone Bill (Land line)

  • Property Tax Receipt

 Date of Birth Proof

  • Passport

  • PAN Card

  • Aadhaar Card with DOB

  • Driving License

  • Birth Certificate

  • Marksheet

 Signature Proof

  • PAN Card

  • Passport

  • Banker's verification

  • Notarized affidavit with ID & Address proof (not applicable for financial applicant)

 Proof of Income for salaried

  • 3 months pay slip

  • 6 months pay slip/2 yrs bonus proof (in case of variable pay)

  • 6 months bank statement showing salary credits

  • 2 yrs Form 16 (or employment continuity proof)

  • For NRI Salaried- 

    • 3 month pay slip

    • Appointment letter/contract letter

    • Continuos Discharge Certificate for Shipping cases

    • 6 month Domestic NRE/NRO a/c statement

    • 6 month international salary a/c statement

    • Overseas credit report

    • Valid visa copy/OCI card

    • Passport copy

    • POA details

 Proof of Income for self employed

  • 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

  • For Asha HL - 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

  • Tax Audit Report (If Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)

  • 6 months bank statements of personal and business accounts

  • If ITR is filed without digital sign - CPC and tax paid challan

  • Business continuity proof (3 yrs for HL / 5 yrs for LAP)

 

 For Balance Transfer / Takeover of Loan from other bank / financial institution

  • 12 months loan account statement with latest outstanding letter

  • Existing loan details and 6 months bank statement from where EMI is deducted

 Lease Rental Discounting

  • 6 months bank statement where rent is credited

  • Registered valid lease agreements

  • 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

  • 1 yr 26 AS

  • If Partnership firm - Partnership deed, 2 yrs audited financials, operative account, KYC, partnership authority letter

 Partner / Partnership Firm

  • Partnership Deed, List of Partners, NOC as per Axis Bank format

  • Partnership firm's audited ITR along with complete financials

  • Partnership authority letter on letterhead of the Firm signed by all partners in case Firm to stand as guarantor

 Director of a Company

  • For the company - 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

  • Tax Audit Report (Where Gross Turnover Exceeds Rs 1 Cr or Gross Receipts exceeds 25 Lac)

  • Board Resolution (if Company is applicant) as per Axis bank format

  • Certificate of Incorporation, MOA and AOA

  • DIN of all Directors, Board Resolution if Company (as per Axis bank format)

  • Latest Share Holding Pattern duly signed by Company secretary/List of Directors

 Other Important Documents and Checks

  • Completely filled and duly signed application form along with all applicants latest passport size photo

  • Aadhar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants

  • PAN card is mandatory for all financial applicants

  • Processing Fee and CERSAI cheques

  • Self-attestation of borrowers on all documents submitted

Documents to be submitted before loan disbursement

Loan Agreement and Annexures

  • Loan agreement as per product type

  • Annexures to be duly filled, signed & stamped as per state law: 

    • MII (Most Important Information) pages

    • MCLR consent letter

    • Schedule of loan agreement

    • List of Documents (LOD)

    • Loan restriction letter (if any)

    • Disbursement request letter

    • For NRIs – franked GPA document

    • Indemnity for under construction cases in plot loans

    • Guarantor agreement (if applicable)

  • Any alteration/correction to be authenticated by applicants

National Automated Clearance House (NACH) mandate/ Standing Instruction (SI) form and Security Cheques (SPDC)

  • NACH / SI mandate with a signed cancelled cheque with A/C holder's name as per bank records

  • SPDC - 3 undated security PDCs equivalent to EMI amount

  • 1 undated cheque with amount kept blank

  • 1 cheque towards PEMI amount

  • SPDC favoring "AXIS BANK LTD LOAN A/C Customer Name

Loan Cover/ Insurance Details

  • Property insurance application form (mandatory)

  • General insurance application form (if applicable)

  • Life insurance application form (if applicable)

Processing Fee / Equitable Mortgage cheques

  • Balance processing fee cheque (with clearance details)

  • Equitable mortgage charges / stamping charges favoring
    "AXIS BANK LTD A/C SERVICE CHARGES"

Property Documents

  • Property documents as per type of transaction, according to bank's policy

For Balance Transfer / Takeover of loan from other bank / financial institution

  • Original list of documents from previous financer

  • Latest 12 months loan A/C statement with latest outstanding letter

  • Existing loan details and 6 months bank statement from where EMI is deducted

  • Indenture of guarantee, undertaking of indemnity, forwarding letter and Annexures in Axis Bank format

Own Contribution Receipts

  • Own contribution receipts

  • Bank statement reflecting debit of own contribution paid

Sanction Letter

  • Duly accepted and signed by all applicants / power of attorney

  • All sanction conditions to be met

TDS

  • If TDS is being paid by applicant – TDS challan & bank statement reflecting debit of TDS paid

  • If TDS is not paid by applicant – Undertaking cum indemnity to deduct TDS amount from disbursement

PSL Documents

  • Financial documents (any of the below): 

    • Audited balance sheet

    • CA certificate – original investment in Plant & Machinery

    • Copy of invoice (investment in Plant & Machinery)

  • Additional documents (any of the below): 

    • Audited / Unaudited (Profit & Loss Account)

    • GST registration certificate

  • For LAP cases – PSL Annexures

Other Documents (to be collected if applicable)

  • Letter from customer towards opting for EMI in case of partly disbursed case

  • Vernacular/indemnity bond Dual name/dual sign affidavit

  • Credit Linked Subsidy Scheme (PMAY) affidavit

  • Amenities agreement duly signed by 3rd party/sellers

  • End use letter for Top Up/LAP/LAP top up cases

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