When you already have a home loan and find yourself in need of additional funds, a home loan top-up can be an excellent option. Axis Bank, one of India’s leading private sector banks, offers a Home Loan Top-Up facility that allows existing home loan customers to borrow more on their current home loan at attractive interest rates.
AXIS Bank Home Loan Top-Up Highlights
An Axis Bank home loan top-up allows existing home loan customers to borrow an additional amount on their current home loan. Here’s a summary of the key features:
| Feature | Description |
|---|---|
| Loan Amount | Up to ₹50 lakh |
| Usage | Construction, personal requirements, or business purposes (excluding property purchase) |
| Eligibility | Existing Axis Bank home loan customers (Resident and Non-Resident Indians) with good repayment history |
| Interest Rates | Same as existing home loan, starting at 8.75% p.a. |
| Tenure | Same as outstanding home loan tenure |
| Repayment | Along with existing home loan EMI |
| Tax Benefits | Interest paid is eligible for tax deduction under Section 24(b) |
| Documentation | Generally, no fresh documentation is required |
Suggested Read: Axis Bank Home Loan Interest Rates 2025
Axis Bank Home Loan Top-Up Interest Rates
Axis Bank home loan top-up interest rates start at 8.75% p.a. onwards, the same as the interest rate on the existing home loan.
| CIBIL Score | Salaried (Repo Rate + Spread) | Salaried Effective Rate | Self Employed (Repo Rate + Spread) | Self Employed Effective Rate |
|---|---|---|---|---|
| 751 and above | Repo Rate + 2.75% | 8.75% | Repo Rate + 3.10% | 9.10% |
Source: Axis Bank Official Website
Axis Bank Home Loan Top-Up Eligibility Criteria
NRIs and Resident Indians can apply for an Axis Bank Home Loan Top-Up under the following conditions:
| Eligibility Criteria | Eligibility Details |
|---|---|
| Property Ownership | The property must be owned by an NRI either solely or in joint ownership (this applies specifically to NRI customers) |
| Complete Residential Property | The top-up loan can only be extended on a fully completed residential property with no pending post-disbursal documentation. |
| Good Repayment History | Existing home loan borrowers must maintain a clear repayment history. There should not be more than one missed EMI in the last year, and any missed EMI should be cleared before the next payment date. |
| Minimum Repayment Track | Borrowers are eligible to apply for a top-up loan after completing at least six months of timely repayments on the existing home loan. |
| Home Loan Transfer Cases | If the home loan has been transferred from another bank, a one-year clear repayment track is required to qualify for the top-up loan. |
Check Out: Axis Bank Home Loan EMI Calculator
Axis Bank Home Loan Processing Fees
| Type of Charge | Charges Applicable |
|---|---|
| Processing Charge | Up to 1% of the loan amount or ₹10,000 An upfront processing fee of ₹5,000 plus GST shall be collected. |
Also Read: Axis Bank Home Loan Processing Fees
Axis Bank Home Loan Top Up: Documents Required
Submitting a home loan top up application with ICICI Bank necessitates the provision of specific documents to verify the borrower’s identity, property details, and financial standing. Here’s a list of documents required:
For Salaried Individuals
| Document Type | Examples/Requirements |
|---|---|
| Proof of Residence | Ration Card, Telephone Bill, Electricity Bill, Voter’s ID Card |
| Proof of Identity | Voter’s ID Card, Employer’s Card |
| Bank Statement/Passbook | Latest Bank Statement/Passbook showing salary/income credited for the previous 6 months |
| Salary Slip | Salary slips for the previous 6 months (showing deductions) |
| Form 16 | For the previous 2 years |
| Property Documents | Copies of all documents for the property to be pledged |
For Self-Employed Professionals/Individuals
| Document Type | Examples/Requirements |
|---|---|
| Financial Statements | Certified Financial Statements for the previous 3 years |
| Proof of Residence | Ration Card, Telephone Bill, Electricity Bill, Voter’s ID Card |
| Proof of Identity | Voter’s ID Card, Employer’s Card |
| Bank Statement/Passbook | Latest Bank Statement/Passbook showing salary/income credited for the previous 6 months |
| Property Documents | Copies of all documents for the property to be pledged |
Also Read: Axis Bank Home Eligibility Calculator
How to Apply to Axis Bank Home Loan Top Up?
Axis Bank offers multiple convenient avenues for applying for a Home Loan Top-Up:
Online Application
- Visit the Official Website:Navigate to the ICICI Bank Home Loan Top-Up page.
- Select ‘Apply Online’:Click on the ‘Apply Online’ button to initiate your application.
- Fill in Personal Details:Provide necessary information such as your name, contact details, existing loan account number, and the amount you wish to top up.
- Upload Required Documents:Submit digital copies of the necessary documents, including identity proof, address proof, income proof, and property documents.
- Submit the Application:Review all the entered information and submit your application for processing.
Must Read: CIBIL Score Required for Axis Bank Home Loan Approval
Compare Top Bank Home Loan Top-Up Interest Rates
| Bank | Interest Rate (p.a.) |
|---|---|
| State Bank of India | 8.00% onwards |
| HDFC Bank | 8.70% – 9.55% |
| ICICI Bank | 8.75% onwards |
| Axis Bank | 8.75% – 12.80% |
| Kotak Mahindra Bank | 8.65% onwards |
| Punjab National Bank | 8.50% onwards |
| Bank of Baroda | 8.40% onwards |
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Conclusion
If you’re an Axis Bank home loan customer and need extra funds for personal or professional purposes, a home loan top-up can be a smart solution. With its flexible terms, competitive interest rates, and ease of application, the Axis Bank Home Loan Top-Up offers a cost-effective way to meet your financial requirements without hassle.
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Frequently Asked Questions [FAQs]
A home loan top-up is an additional loan amount that you can borrow over your existing home loan, typically at a lower interest rate than personal loans.
Existing Axis Bank home loan customers with a good repayment record and property ownership are eligible for a top-up loan.
You can use the top-up loan for various purposes, including home renovation, business expenses, education, or personal needs.
The amount you can borrow depends on the outstanding principal of your current home loan and the property’s valuation.
No, we link your existing home loan to the top-up loan, so you don’t need any additional collateral.
Axis Bank offers competitive interest rates for home loan top-ups, which are generally lower than personal loan rates.
Interest paid on the Top-Up Loan may be eligible for tax deductions under Section 24(b) of the Income Tax Act, depending on the end use of the loan amount.
Existing customers can apply for a Top-Up Loan online through Axis Bank’s website or by visiting the nearest branch. The process involves minimal documentation due to the bank’s familiarity with the customer’s financial and personal details.
Yes, NRIs can avail of the Top-Up Loan, provided the property is owned solely by an NRI or in joint ownership. The property must be a completed residential property with no pending post-disbursal documentation.
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