Whether you’re planning to borrow ₹1 Lakh or ₹15 Crore, this tool provides precise EMI calculations, enabling you to make data-driven borrowing decisions aligned with your financial capacity.
Understanding your home loan EMI is crucial before taking this significant financial step. AXIS Bank offers home loans starting at 9.00% p.a., making it one of the most competitive options in the market.
The AXIS Bank Home Loan EMI Calculator helps you plan your finances effectively by providing accurate monthly payment estimates.
With loan amounts ranging from ₹5 lakhs to ₹5 crores and tenure options between 5-30 years, you can explore various combinations to find the perfect fit for your budget.
To simplify this process, Credit Dharma offers a free, user-friendly EMI calculator that provides instant calculations along with detailed amortization schedules. This tool helps you understand exactly how much you’ll pay monthly and the total interest over your loan tenure.
Get Exclusive Offers for your Axis Bank Home Loan with interest rates starting @ 8.75%!
AXIS Bank Home Loan Highlights
Axis Bank offers home loans with interest rates starting at 8.75% per annum for salaried individuals and 8.85% for self-employed individuals.
Key Details of Bajaj Housing Finance Home Loan
| Feature | Details |
|---|---|
| Interest Rates | 8.75% p.a. onwards (Salaried), 8.85% p.a. onwards (Self-Employed) |
| Loan Tenure | Up to 30 years |
| Loan Amount | Above ₹1 lakh |
| Processing Fee | Up to 1% of loan amount (min ₹10,000) + ₹2,500 upfront fee + GST |
| Eligibility | Salaried, Self-Employed Professionals, Self-Employed Individuals |
| Age Criteria | Min 21 years at commencement; Max 60-65 years at maturity (depending on employment type) |
| Key Benefits | Low interest rates, Flexible tenure, Edge Points |
| QuickPay Home Loan | Higher principal repayment initially, lower EMIs over time, no prepayment charges |
Suggested Read: AXIS Bank Home Loan Prepayment Calculator.
AXIS Bank Home Loan Eligibility Criteria
Here’s a breakdown of the eligibility criteria for Axis Bank Home Loans, based on the provided search results:
General Eligibility
- Axis Bank offers home loans to both salaried and self-employed individuals.
- Loans are available for Resident Indians and NRIs.
- Axis Bank considers age, employment type, income, repayment history, and credit score when determining eligibility.
Age Criteria
- The minimum age for applicants is 21 years at the time of loan application.
- For salaried individuals, the maximum age is generally 60 years at the time of loan maturity. Some search results state the maximum age as 65.
- For self-employed individuals, the maximum age is 65 years at the time of loan maturity.
Specific Home Loan Schemes
- Asha Home Loan: Requires a combined family income of ₹8,000 or more per month.
- Fast Forward Home Loan: Available to salaried, self-employed, and professionals. Requires a minimum loan tenure of 20 years at the time of disbursement. To avail of EMI waiver benefits, the home loan should be active for at least 4 years from the date of disbursement, with a clean track record.
- Top-Up Home Loan: Available to NRIs and Resident Indians. Requires a clear repayment history. Existing home loan customers are eligible after six months of clear repayment.
Suggested Read: AXIS bank customer care number for home loan grievance addressal.
Factors Affecting Eligibility
- Income: Salary determines the amount you can pay through EMIs. Most financial institutions allow between 30-60% of your monthly salary as EMI.
- Repayment History: A good credit score strengthens the possibility of home loan approval. A clean track record is required for schemes like the Fast Forward Home Loan.
- Existing Loans: Lenders usually approve home loan applications where the total EMI obligations, including the proposed home loan EMI, do not exceed 50% of the total monthly income.
To increase the chances of approval, applicants can opt for longer tenures to reduce their EMI burden and increase their repayment capacity. Using Axis Bank’s Home Loan Eligibility Calculator can provide an estimate of the loan amount you are eligible for.
Suggested Read: Check your eligibility criteria for a home loan from AXIS Bank?
Axis Bank Home Loan Interest Rates
Axis Bank offers home loans at interest rates starting from 8.75% p.a. These rates vary based on factors such as CIBIL score, loan amount, occupation profile, and the specific home loan scheme you choose.
Axis Bank Home Loan Interest Rates by CIBIL Score
| CIBIL Score | Salaried | Self Employed |
|---|---|---|
| 751 and Above | 8.75% p.a. onwards | 9.10% p.a. onwards |
Axis Bank Standard Home Loan Interest Rates (Vanilla Home Loan)
| CIBIL Score | Salaried |
|---|---|
| No CIBIL Score | 9.30% p.a. onwards |
| 700 and Above | 9.65% p.a. onwards |
| 700 – 750 | 9.50% p.a. onwards |
| 751 and Above | 8.75% p.a. onwards |
Axis Bank Fixed Home Loan Interest Rates
| CIBIL Score | Salaried |
|---|---|
| Fixed Rate Loans | 14.00% p.a. onwards |
Axis Bank Asha Home Loan Interest Rates
| Home Loan Amount | Salaried | Self Employed |
|---|---|---|
| Any Amount | 10.50% p.a. – 12.85% p.a. | 12.00% p.a. – 13.30% p.a. |
Suggested Read: Lowest Home Loan Interest Rates
How is Axis Bank Home Loan EMI Calculated?
The EMI for Axis Bank home loan is calculated using the following standard formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
- P = Loan Amount
- R = Monthly Interest Rate (Annual Rate ÷ 12)
- N = Loan Tenure in Months
Example:
If you borrow ₹50 lakhs at an interest rate of 8.5% p.a. for a tenure of 20 years, the calculation will be:
- Loan Amount (P) = ₹50,00,000
- Interest Rate (R) = 8.5%/12 = 0.7083% per month
- Loan Tenure (N) = 20 years × 12 = 240 months
Using the EMI formula, the monthly EMI will be around ₹43,391.
Pro Tip: If your credit score is low, consider working on it for 3-6 months before applying for a home loan.
Sample EMI Calculations for a Rs 50 Lakh Home Loan @8.40% p.a.
| Tenure (Years) | Interest Rate | Monthly EMI | Total Interest |
|---|---|---|---|
| 20 | 8.40% | ₹43,391 | ₹54,13,840 |
| 25 | 8.40% | ₹39,133 | ₹67,39,900 |
| 30 | 8.40% | ₹36,829 | ₹82,58,440 |
Suggested Read: Home Loan EMI For ₹75 lakh
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How to Use Axis Bank Home Loan EMI Calculator?
The Axis Bank Home Loan EMI Calculator is a useful tool for estimating your monthly EMI, total interest payable, and overall repayment amount with accuracy.
Follow these steps to use the calculator effectively:
- Enter the loan amount you wish to borrow in the designated field or use the slider to adjust the value.
- Adjust the interest rate field to match the current Axis Bank home loan interest rate.
- Select the repayment period by entering the desired loan tenure or using the slider.
- The calculator will display the monthly EMI, total interest payable, and total loan amount payable.
- A visual representation, such as a pie chart, may also be provided to show the proportion of the loan amount and interest payable.
Suggested Read: Investing vs. home loan prepayment
How to Reduce Axis Bank Home Loan EMI?
Here are some strategies to reduce your EMI and save money on your home loan:
| Tip | Description |
|---|---|
| Make Prepayments | Pay a lump sum to reduce the outstanding principal, which lowers your EMI. |
| Negotiate for Lower Interest Rates | If your credit score is good, request a lower interest rate. |
| Choose a Longer Tenure | Opt for a longer tenure to reduce your monthly EMI, but note that it increases the total interest cost. |
Pro Tip: Use the Axis Bank Home Loan Prepayment guide to learn how to make prepayments and reduce your EMI.
Axis Bank QuickPay Home Loan
This scheme allows individuals to repay a higher principal loan amount early in their tenure.
The principal portion of the EMI is higher than the interest portion initially, reducing monthly installments over time and saving on interest.
There are no prepayment charges for paying off the loan before the fixed tenure. This loan is applicable for under-construction, resale, ready, self-construction, plot plus construction, home extension, or improvement.
A balance transfer facility is also available. The interest rate ranges from 9.05% to 9.25% per annum and the loan amount is between ₹3 lakh and ₹5 crore.
Home Loan Interest Rates by Top Banks
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.15% onwards | 8.15% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Get the Best Axis Bank Home Loan Offers with Credit Dharma
Credit Dharma is your trusted partner for securing the best Axis Bank Home Loan offers, with over ₹500 Cr+ loans handled and partnerships with 20+ leading banks. We provide exclusive access to the lowest interest rates and a seamless, digital process with fast approvals in just 1-2 weeks, backed by lifetime support from our home loan experts.
Why choose Credit Dharma? We provide:
- Lowest Interest Rates: Save more with every EMI.
- Maximum Funding: Get up to 100% funding for your dream home.
- Simple & Digital Process: No tedious paperwork or branch visits.
- Expert Guidance: Lifetime support from our team of specialists.
Compare, choose, and secure the best Axis Bank Home Loan offer with Credit Dharma — your home loan journey starts here!
Frequently Asked Questions [FAQs]
A Home Loan EMI (Equated Monthly Instalment) is a fixed monthly payment combining both the principal and interest amounts, allowing borrowers to repay their home loan over a specified tenure.
You can use Axis Bank’s Home Loan EMI Calculator by entering your desired loan amount, interest rate, and loan tenure to instantly view your estimated monthly EMI.
The EMI is influenced by the loan amount, interest rate, and loan tenure. A higher loan amount or interest rate increases the EMI, while a longer tenure decreases the monthly EMI but may increase the total interest paid.
Yes, Axis Bank provides various calculators, including the QuikPay Home Loan Calculator and the Fast Forward Home Loan Calculator, to help customers understand different repayment options and potential savings.
Yes, Axis Bank allows prepayment of Home Loans. Prepaying can reduce the outstanding principal, leading to a decrease in the EMI or the loan tenure, depending on your preference.
In a fixed-rate loan, the EMI remains constant throughout the tenure. In a floating-rate loan, the EMI can vary based on market interest rate fluctuations. Axis Bank offers both options to suit different borrower preferences.
The EMI is calculated using the formula: EMI = [P x R x (1 + R)^N] / [(1 + R)^N – 1], where P is the principal loan amount, R is the monthly interest rate, and N is the loan tenure in months.
Yes, under Section 80C of the Income Tax Act, you can claim deductions up to ₹1.5 lakh on the principal repayment, and under Section 24(b), up to ₹2 lakh on the interest paid for self-occupied properties.
A longer tenure reduces the monthly EMI but increases the total interest paid over the loan’s duration. Conversely, a shorter tenure increases the EMI but decreases the total interest outflow.
Yes, Axis Bank offers EMI calculators for various loans, including Personal Loans, Car Loans, and Education Loans, helping customers plan their finances effectively.
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