Axis Bank Home Loan Interest Rate, Eligibility and Documents

Axis Bank Home Loan Interest Rate

Axis Bank Home Loan offers Interest rates starting at 8.60% p.a. for terms of up to thirty years and loan amounts of up to Rs. 5 crores. It also provides affordable housing loans and innovative home loan. Products such as

  • Reduced EMIs
  • EMI waivers
  • Home loan overdraft facilities
  • House loans with variable Axis Bank home loan interest rates. (fixed for two years and then floating interest rates).

Characteristics of the Axis Home Loans


Axis Bank provides home loan programs for both salaried and self-employed persons. Axis Bank home financing options feature attractive rates and flexible repayment terms.

Minimum Loan Amount Rs. 3 lakh
Interest Rate Options Fixed or Floating
Eligibility Salaried and Self-employed
Maximum Financing Up to 90% of Total Property Cost

Axis Bank Housing Loan Interest Rate 2023


Here are the interest rates of home loan schemes –

1) Housing Loans of Axis Bank

TypeAxis Bank Home Loan Rate
Fixed-Rate14.00% p.a.
Floating Rate8.75%-9.15% p.a.

2) Asha Home Loan Schemes

TypeAxis Bank Home Loan Interest Rate
For Salaried9.9%-12.25%
For Self-employed10.95%-12.70%

Types of Axis Home Loans

There are varied types of home loans from Axis Bank to serve varied purposes:

  1. Axis Bank Housing Loan This loan scheme is for home loans to Resident Indians and Non-Resident Indians for the purchase or construction of a new home.
  2. Shubh Aarambh Home Loan Scheme This scheme provides 12 EMI waivers (4 EMIs waived off at the end of the fourth, eighth, and twelfth years) and interest subsidy benefits to those who qualify under the Pradhan Mantri Awas Yojna Scheme.
  3. QuikPay Home Loan Scheme Allows borrowers to repay larger principal amounts early in the loan’s term. Every month, the EMIs decrease, allowing borrowers to save significantly on interest payments. It also provides balance transfers from other banks/NBFCs to Axis Bank at competitive interest rates.
  4. Fast Forward Home Loan Scheme from Axis Bank This scheme includes 12 EMI exemptions for debts repaid after ten years, with 6 EMIs waived at the end of the 10th and 15th years. This lending facility is also available to applicants for house loans who use the home loan balance transfer facility.
  5. Super Saver Home Loan Scheme Overdraft facility on your home loan to reduce the overall interest payable. Borrowers can invest their excess cash in the account to generate interest and withdraw it whenever they need to use this scheme.
  6. Axis Bank Home Loan Home loan scheme for salaried and self-employed candidates with a total family income of Rs 8,000 and above. It is a tailored home loan program based on the banking habits of the loan applicants.
    Additionally includes 12-month EMI exemptions, with four EMIs waived at the end of the loan’s fourth, eighth, and twelfth years.
  1. Power Advantage Home Loan from Axis Bank Home loans have fixed interest rates for the first two years, followed by fluctuating interest rates for the remainder of the loan term.
  2. Top-Up Home Loan Scheme from Axis Bank Existing home loan clients and home loan balance transfer customers that seek additional funds for personal/business needs or residential/commercial property construction.
  3. Pradhan Mantri Awas Yojna Home loans with interest subsidies of up to Rs 2.67 lakh are available to qualifying borrowers from Economically Weaker Sections, Low-Income Groups, and Middle Income Groups for the purchase or building of their first home.

Who is Eligible for the Home Loan from Axis Bank?

  • Salary or self-employment
  • Clean track record throughout loan tenure- no cases of outstanding dues for 90 days or more;
  • no more than three cases of pending dues for 30 days or more.
  • There are no penalties or other expenses owed to the borrower

Also check home loans from other banks

LenderHome Loan Interest Rates (Above 75 lakhs)Home Loan Interest Rates (Above 30 lakhs to 75 lakhs)Home Loan Interest Rates (Up to 30 lakhs)
LIC Housing Finance8.50% – 10.75%8.50% – 10.55%8.50% – 10.35%
State Bank of India8.50% – 10.05%8.50% – 10.05%8.50% – 10.15%
HDFC Bank Limited8.40% onwards8.40% onwards8.40% onwards

FAQs

What is the maximum tenure Axis offers home loan for

The maximum tenure for the home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)


Are Axis housing Finance interest rates fixed or floating?

Offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.


How is Interest Rate Determined for Axis Home Loan

Axis determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.

How can I calculate the EMI for Axis Home Loan?

You can calculate the EMI for using any online EMI Calculator

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