Applying for a home loan is easier with Axis Bank home loan apply, offering simple steps and quick approvals. By understanding eligibility criteria, required documents, and associated fees, you can make informed decisions. A streamlined application process ensures faster loan disbursal, helping you secure your dream home with ease.
How to Apply for an Axis Bank Home Loan Online?
To apply for an Axis Bank home loan online, follow these steps for a smooth and hassle-free process.
Time needed: 5 minutes
- Visit the Official Website
Go to the Axis Bank home loan page.
- Select Home Loan Option
Choose the type of home loan you want to apply for (e.g., home loan, balance transfer, etc.).
- Fill the Online Application
Enter personal, contact, and financial details in the application form. Make sure to provide accurate information for quick processing.
- Upload Documents
Submit required documents like ID proof, address proof, income proof, and property details online.
- Eligibility Check
Axis Bank will evaluate your eligibility based on the information provided.
- Submit the Application
Review your details and submit the application. You will receive an acknowledgment along with the reference number.
- Approval and Processing
Once your application is reviewed, the bank will process the loan. If approved, they will send you an offer letter and discuss the next steps.
- Sign the Agreement
After receiving the offer, sign the loan agreement electronically or at the bank’s branch.
Also Read: Axis Bank Home Loan Interest Rates
How to Apply for Axis Bank Home Loan Offline?
To apply for an Axis Bank home loan offline, follow these steps for a seamless application process.
| Step | Description |
|---|---|
| 1. Visit the Nearest Branch | Go to your nearest Axis Bank branch to initiate the home loan application process. |
| 2. Fill Out the Application Form | Request and complete the home loan application form with your personal and financial details. |
| 3. Provide Required Documents | Submit necessary documents, including ID proof, address proof, income proof, and property details. |
| 4. Eligibility Assessment | The bank will assess your eligibility based on the information and documents provided. |
| 5. Loan Discussion | The bank representative will discuss the loan amount, tenure, and interest rates. |
| 6. Sign the Loan Agreement | Once approved, you will need to sign the home loan agreement. |
| 7. Disbursement Process | After completing all formalities, the loan will be disbursed as per the agreed terms. |
How to Track Your Axis Bank Home Loan Application Status?
Easily monitor your home loan application progress by following these steps.
1. Online Tracking
- Visit Axis Bank Website: Go to the Axis Bank Home Loan page and click on “Track Application.” and enter your application reference number or mobile number.
2. Offline Tracking
- Visit the Branch: You can visit the nearest Axis Bank branch where you applied for the loan and ask for the status of your application.
Customer Care Helpline
- Call Customer Care: You can call Axis Bank’s customer care at 1860 419 5555 or 1860 500 5555 to inquire about your home loan application status.
Check Out: How to Check Axis Bank Home Loan Application Status?
Eligibility Criteria for Axis Bank Home Loan
To apply for an Axis Bank home loan, you must meet specific eligibility criteria based on age, income, and employment status. Follow the table below for details.
| Eligibility Criteria | Details |
|---|---|
| Age | Salaried: 21-60 years at loan initiation, 65 years at loan maturity. Self-Employed: 21-65 years at loan initiation, 65 years at loan maturity. |
| Employment Status | Salaried: Permanent employees of government or reputed private organizations. Self-Employed: Business owners or professionals with a stable income history. |
| Income | Metro Cities: 20,000/Month & Above Other Cities: 15,000/Month & Above |
| Credit Score | Minimum CIBIL score of 750 for better loan approval and favorable interest rates. |
| Existing Financial Obligations | Clear repayment history with minimal outstanding debts. |
| Property Requirements | Property must be within Axis Bank’s approved project list and meet their valuation criteria. |
| Documentation | Proof of identity, address, income, and property-related documents. |
| Loan Amount Limits | Minimum loan amount: ₹3 lakhs. Borrowing limits depend on income, property value, and repayment capacity. |
| Margin Requirements | Loan up to ₹30 lakhs: 10% margin. Loans above ₹30 lakhs and up to ₹75 lakhs: 20% margin. Loans above ₹75 lakhs: 25% margin. |
| Loan Tenure | Loan tenure up to 30 years, based on applicant’s age and repayment capacity. |
| Joint Loan | Option to apply for a joint home loan to increase eligibility by combining incomes. |
Check Out: Axis Bank Home Loan Eligibility Criteria
Documents Required for Axis Bank Home Loan Application
To apply for an Axis Bank home loan, you need to submit specific documents for verification. Follow the table below for the complete list.
| Document Type | Required Documents |
|---|---|
| Identity Proof | – Aadhar Card – Passport – Voter ID – Driver’s License – PAN Card |
| Address Proof | – Aadhar Card – Passport – Utility Bills (electricity, water, etc.) – Rent Agreement (if applicable) |
| Income Proof | Salaried Individuals: – Latest salary slips for the last 3 months – Form 16 or IT returns – Bank statements for the last 6 months Self-Employed Individuals: – Income Tax Returns (ITR) for the last 2 years – Balance Sheet and Profit & Loss Account for the last 2 years |
| Property Documents | – Sale deed – Title deed – Agreement to sell (if applicable) – Approved building plan (if applicable) |
| Bank Statements | – Last 6 months’ bank statements showing monthly income and existing liabilities (if any) |
| Photographs | – Passport-sized photographs (typically 2-3 copies) |
| Additional Documents | – Loan account statement (if applying for a balance transfer) – Business proof (for self-employed applicants) |
| Co-Applicant Documents (if applicable) | – Same as above for co-applicant (if applying for a joint loan) |
Read More: Axis Bank Home Loan Documents Required
Axis Bank Home Loan Fees and Charges You Should Know
Before applying for an Axis Bank home loan, it’s important to understand the associated fees and charges. Follow the table below for the detailed breakdown.
| Fee/Charge | Amount/Details |
|---|---|
| Processing Fee | Up to 1% of the loan amount or ₹10,000 (whichever is higher) + GST. Upfront fee of ₹5,000 plus GST at application submission. |
| Admin Charges | ₹0 |
| Repayment Instruction/Instrument Return | ₹339 per instance |
| Issuance of Credit Report | ₹50 per instance |
| Duplicate Statement Issuance | ₹250 per instance |
| Cheque/Instrument Swap Charges | ₹500 per instance |
| Issuance of Photocopy of Title Documents | ₹500 per document set |
| Duplicate Amortization Schedule Issuance | ₹250 per instance |
| Customer Initiated Document Requests | ₹500 per document set |
| Duplicate Interest Certificate | ₹50 per instance |
| Prepayment Charges (Floating Rate Loan) | Nil |
| Prepayment Charges (Fixed Rate Loan) | 2% of outstanding principal/amount prepaid |
| Equitable Mortgage Creation Charges | As applicable in the state |
| Duplicate NOC (No Dues Certificate) | ₹50 per instance |
| Stamp Duty & Statutory Charges | As per applicable state laws |
| Equitable Mortgage Cancellation Charges | As applicable in the state |
| Penal Charges | 8% p.a. above applicable interest rate on overdue amount (max 24%) |
| Re-Pricing Charges | 1% fee for switching from floating to fixed rate (min ₹10,000). 2% fee for fixed to floating switch. |
| CERSAI Charges | ₹50 for loans up to ₹5 lakh, ₹100 for loans above ₹5 lakh |
For more details, refer to Axis Bank’s official document.
Must Read: Plot loans from Axis Bank: Explore EMI, Interest Rate, and Eligibility Details.
Tips to Increase Your Chances of Home Loan Approval
Boost your chances of getting a home loan by following smart financial practices. Refer to the table below for useful tips.
- Maintain a Good Credit Score: Ensure your credit score is above 750 for better approval chances and lower interest rates.
- Stable Income: Lenders prefer consistent income. Provide clear proof like pay slips or Income Tax Returns (ITRs).
- Lower Debt-to-Income Ratio: Keep your debt-to-income ratio below 50% by managing existing debts effectively.
- Save for a Larger Down Payment: A higher down payment reduces the loan-to-value (LTV) ratio, making you a less risky borrower.
- Choose a Suitable Loan Amount: Borrow an amount within your financial capacity to ensure manageable repayments.
- Improve Your Employment Stability: Lenders prefer applicants with stable employment (at least 2-3 years in the current job).
- Provide Complete Documentation: Ensure all documents like identity proof, income proof, and property details are accurate and up to date.
- Consider a Co-Applicant: Adding a co-applicant with stable income or a good credit score can increase approval chances.
- Avoid Changing Jobs or Relocating: Stability matters—avoid job changes or relocation during the application process.
- Opt for a Fixed Interest Rate (If Necessary): Consider a fixed-rate home loan to reduce lender risk and improve approval chances if you’re concerned about fluctuating rates.
Check Out: Axis Bank Home Loan Eligibility Calculator
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Conclusion
Applying for an Axis Bank home loan is easy, with a simple process from checking eligibility to getting the loan. Just gather your documents and fill out the application form.
Credit Dharma offers home loans at competitive interest rates and provides expert financial advice. Helping you make informed decisions for a better financial future.
Frequently Asked Questions
Axis Bank typically sanctions a home loan within 5 business days and completes approval and disbursement within 15 days after document verification and property appraisal.
You can check the status of your Axis Bank home loan application online by visiting their website, entering your application reference number or registered mobile number, or by visiting the nearest branch or calling customer care at 1860 419 5555 for assistance.
The Axis Bank home loan approval process typically includes application submission, document verification, property valuation, loan underwriting, and loan disbursement.
Visit the Axis Bank official website.
Click on the “Track Application” option.
Enter your application reference number or registered mobile number.
View the status of your home loan application.
For an Axis Bank home loan, you will need documents such as proof of identity, proof of address, income proof, property documents, and bank statements
Yes, Axis Bank charges a processing fee of up to 1% of the loan amount or ₹10,000, whichever is higher, plus applicable GST.
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