Home loan eligibility checklist for Axis Bank

home loan eligibility for Axis Bank

Getting an AXIS Bank house loan might be a big step toward making your goal of home ownership a reality. Before beginning the application procedure, you ought to be aware of the qualifying requirements and make the appropriate preparations. 

Eligibility for a home loan is basically a list of requirements that a bank looks at before accepting your loan application. To ensure ethical lending, AXIS Bank, like other financial companies, is subject to a number of rules and regulations.

Axis Bank Home Loan Eligibility Criteria

The following are the requirements listed below for Axis Bank home loans:



Age


21 years to 60 years

Employment

Professionals, salaried and self-employed individuals

Type of Employment

Permanent Service

Axis Bank Home Loan Eligibility Based on Salary

Axis Bank’s eligibility for a house loan may be based on several variables. You can determine how much of a loan you will be eligible for with Axis Bank’s home loan eligibility calculator. The information you supply will determine this.

To find out how much of a loan you will be eligible for, utilize the Axis Bank home loan eligibility calculator. The loan payback duration is 30 years, and the interest rate of 6.90% p.a. is assumed for the loan amounts indicated in the table below.


Monthly Income
Loan Amount

Rs. 25,000

Rs.15,18,372

Rs. 30,000

Rs.20,49,802

Rs. 35,000

Rs.23,91,436

Rs. 40,000

Rs.27,33,070

Rs. 45,000

Rs.30,74,703

Rs. 50,000

Rs.34,16,337

Rs. 55,000
Rs.41,75,523

Rs. 60,000
Rs.45,55,116

Rs. 65,000
Rs.49,34,709

Rs. 70,000
Rs.53,14,302
Note: The values, as mentioned earlier, are approximations and predicated on specific hypotheses. The numbers could vary depending on other pertinent variables like the applicant’s age, among other things.

Axis Bank Home Loan Eligibility Based on Age

The applicant’s age is the primary factor that determines the maximum payback period for Axis Bank home loans. You might get the longest loan payback period if you apply for a home loan sooner. The maximum loan payback period that an applicant may be qualified for based on their age is listed in the following list.

Age of the Applicant’sMaximum Eligible Period

21 years to 30 years
30 years

31 years
29 years

32 years
28 years

33 years
27 years

34 years
26 years

35 years
25 years

36 years
24 years

37 years
23 years

38 years
22 years

39 years
21 years

40 years
20 years

Axis Bank Home Loan Eligibility Based on Credit Score

For a loan to be approved, a high credit score is essential. Similar to other banks, AXIS Bank often gives preference to applicants who have a credit score of 750 or higher.

RatingCredit Score
Good750 and above
Average600- 750

Poor
Below 600

A better CIBIL score increases the likelihood that your application for a home loan will be accepted. A CIBIL score of 650 or higher generally raises the likelihood that your home loan application will be approved.

Factors Affecting Axis Bank Home Loan Eligibility

Axis Bank’s house loan eligibility is influenced by a number of criteria, some of which are mentioned below-

  • The applicant’s credit score
  • Any other current debts that the applicant is a co-borrower on
  • The applicant’s credit history
  • The applicant’s history of loan payback
  • The applicant’s capacity to repay

SBI Home Loan Eligibility

Axis Bank offers extra benefits that are sometimes disregarded because of its customer-centric strategy, which include-

  • Customized Pricing- Based on credit scores and other variables, Axis Bank provides customized interest rates for home loans. One is eligible to get lower rates if the credit score is high.
  • Doorstep Service- Axis Bank offers doorstep services that streamline the application procedure. Comprehending the ease aspect can influence your whole experience with house loans.
  • Top-Up Loans- Learn more about Axis Bank’s top-up loan solutions, which let current customers get extra money for a variety of requirements at competitive interest rates.

Conclusion

In conclusion, knowing and adhering to AXIS Bank’s eligibility requirements is necessary when getting ready to submit a home loan application. Make sure you review your credit report, arrange your financial records, determine your ability to make repayments, and comprehend the specifics of the property you intend to buy. Being organized not only improves your chances of getting approved but also facilitates a seamless home loan application procedure.

FAQs

How does AXIS Bank determine a house loan applicant’s job status?

AXIS Bank evaluates your work status in order to determine your ability to repay debt. For salaried workers, AXIS Bank requires pay stubs, while for independent contractors, AXIS Bank may require financial statements and income tax returns.

Are house loans from AXIS Bank subject to a minimum income requirement?

SBI is a trusted and reputed institution with competitive interest rates, a variety of home loan products, flexible repayment options, transparent practices, and a customer-centric approach. These factors contribute to a positive borrowing experience.

Table of Contents

Join Our Newsletter

Open chat
Hello 👋
Can we help you?