Axis Bank Home Loan

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Axis Bank Home Loan Highlights

Axis Bank home loan offers flexible terms, competitive interest rates, and high loan amounts, making it an ideal choice for aspiring homeowners.

Category	Details
Interest Rate	Floating: 8.75% p.a. – 9.50% p.a. Fixed: 14% p.a.
Loan Amount	Up to ₹5 Crore
Loan Tenure	30 Years
Processing Charges	1% of the loan amount + GST (Minimum ₹10,000)

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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.

Read More: How to Improve Axis Bank Home Loan CIBIL Score?

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Compare Home Loan Interest Rate Offered by Top Banks

Comparing home loan interest rates from leading banks helps you identify affordable financing options. Get a clearer view of each lender’s terms and choose the best home loan that matches your budget and financial goals.

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	8.40% – 10.65% p.a.	8.40% – 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

Check Out: Axis Bank vs. SBI vs HDFC Home Loans

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Axis Bank Home Loan Processing Fees

Axis Bank takes processing fees to cover the cost of reviewing your documents and assessing your loan application.

Fees	Amount
Processing Fees	1% of the loan amount + GST (Minimum ₹10,000)
Upfront Processing Fees	₹5,000 (collected at the time of application, balance fee will be collected at the time of disbursement)

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Axis Bank Home Loan Other Fees and Charges

Axis Bank applies various fees and charges on its home loans. Besides processing fees, borrowers may also have to pay administrative costs, legal fees, and prepayment charges.

Charges Category	Fees
Repayment Instruction / Instrument Return	₹339 /- per instance
Admin Charges	₹0
Duplicate Statement Issuance Charges	₹250 /- per instance
Issuance Charges for Photocopy of Title Documents	₹500 /- per document set
Charges of Customer-Initiated Requests for Copies of Documents	₹500 /- per document set
Prepayment Charges for Floating Rate Loan	NIL
Equitable Mortgage Creation Charges	As applicable in the state
Issuance Charges of Credit Report	₹50 /- per instance
Cheque / Instrument Swap Charges	₹500 /- per instance
Duplicate Amortization Schedule Issuance Charges	₹250 /- per instance
Duplicate Interest Certificate Issuance Charges	₹50 /- per instance
Prepayment Charges for Fixed Rate Loan	2% of outstanding principal / amount prepaid
Duplicate No Dues Certificate / NOC	₹50 /- per instance
CERSAI Charges (Loans up to 5 lakhs)	₹50
CERSAI Charges (Loans above 5 lakhs)	₹100
Penal Charges	8% p.a. above applicable interest rate on overdue amount
CERSAI Charges	Loan up to ₹5 Lakh: ₹50Loan Above ₹5 Lakh: ₹100

Read More: What are CERSAI Charges?

Re- Pricing Charges

Category	Charges
Switching from Floating Rate to Fixed Rate Scheme	1% of the outstanding principal(Minimum ₹10,000)
Switching from Fixed Rate to Floating Rate Scheme	2% of the outstanding principal
Switching from Higher Fixed Rate to Lower Fixed Rate	0.5% of the outstanding principal(Minimum ₹10,000)The Lower Rate will be equal to the applicable carded interest rate only.

Switching from Higher Floating Rate to Lower Floating Rate

Administrative charge applicable as per the following structure:

Principal Outstanding at the Time of ROI Conversion	Charges
Up to 10 Lacs	INR 1,000/-
10.01 Lacs to 30 Lacs	INR 2,000/-
30.01 Lacs to 75 Lacs	INR 3,000/-
Above 75 Lacs	INR 5,000/-

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Types of Home Loans Offered by Axis Bank

Axis Bank understands that owning a home is a cherished goal for everyone. Axis Bank home loan schemes are thoughtfully designed to meet your unique needs, offering flexible terms and competitive rates.

Axis Bank Subh Arambh Home Loan

Axis Bank’s Shubh Aarambh Home Loan offers up to ₹30 lakhs with interest subsidies under the Pradhan Mantri Awas Yojana (if you qualify). It can be used for purchasing under-construction or ready-to-move-in homes, resale properties, self-construction, plot plus construction, home extensions, and improvements. 

• 12 EMIs waived off. 4 EMIs waived off every 4 years. 
• Balance transfer facility.

Axis Bank Fast Forward Home Loan

Axis Bank’s Fast Forward Home Loan allows you to combine multiple income sources to secure maximum loan amounts starting from ₹30 lakhs. It can be used for purchasing under-construction or ready-to-move-in homes, resale properties, self-construction, plot plus construction, home extensions, and improvements.

• 12 EMI waivers—six after 10 years and an additional six after 15 years—provided borrowers maintain a clean repayment history.

Axis Bank Asha Home Loan

Axis Bank’s Asha Home Loan is designed to make homeownership accessible and affordable for a wide range of customers. With loan amounts starting as low as ₹1 lakh and going up to ₹35 lakhs, this home loan offers flexible financing options to suit various financial needs and property values.

• Secure up to 90% of the property’s value
• 12 EMIs are waived. 4 EMIs waived at the end of the 4th, 8th, and 12th years.
• Designed for individuals with a combined monthly income of as low as ₹8,000.
• Avail benefits under the Credit Linked Subsidy Scheme (CLSS)
• Available for properties starting from 300 square feet
• For properties located in areas with a population exceeding 10 lakhs, the maximum eligible property value is ₹45 lakhs.
• For properties in regions with a population below 10 lakhs, the maximum property value eligible for the loan is ₹35 lakhs.

Axis Bank Super Saver Home Loan (Overdraft Facility)

Axis Bank’s Super Saver Home Loan with Overdraft Facility is designed to help you minimize the total interest payable on your home loan while providing flexible access to your funds. It is available for a minimum loan amount of ₹10 lakh.  

• Enjoy the convenience of a cheque book, ATM card, internet banking, and phone banking with your Super Saver account. 
• This loan product offers only a floating interest rate.
• Maximum tenure: 22 years.

Calculate Your Saving with an Overdraft Home Loan

How Does Axis Bank Overdraft Facility Work?

Once your home loan is approved and disbursed, a portion of the loan amount is directed to your Super Saver account. Any additional funds you deposit into the Super Saver account will directly reduce the principal outstanding on your home loan.

This effective reduction lowers the interest you pay, as it is calculated on the reduced principal amount.

The excess funds parked in your Super Saver account can be withdrawn at your convenience. Interest is charged only on the net principal amount, which is the original loan amount minus the excess funds in your Super Saver account.

Axis Bank Quick Pay Home Loan

Axis Bank’s Quick Pay Home Loan is specifically designed to help borrowers manage their home loan repayments more effectively by enabling faster principal repayment.

This loan product not only reduces the total interest payable over the loan tenure but also lowers the monthly EMIs, providing financial flexibility for individuals with increasing financial responsibilities.

Axis Bank Home Loan Balance Transfer

A Home Loan Balance Transfer is a financial service that allows homeowners to transfer their existing home loan from one lender to another.

Axis Bank’s Home Loan Balance Transfer service is designed to help you optimize your home loan by securing a lower interest rate, accessing higher loan amounts, and enjoying flexible repayment options. 

• Take advantage of lower interest rates
• Access higher loan amounts 
• Avail additional top-up loans at lower interest rates compared to personal loans.
• No prepayment fees on floating rate loans
• Get access to an Overdraft facility

Axis Bank Home Loan Top Up/ 24×7 Top Up Loan

A Home Loan Top-Up is an additional loan amount offered to existing home loan borrowers.

Axis Bank’s Home Loan Top-Up is a flexible financial solution designed to meet your additional funding needs without the hassle of applying for a separate loan. 

• Borrow up to ₹50 lakhs as an additional loan on top of your existing home loan.
• Fund the construction or expansion of your property, covering personal expenses, or for business purposes.
• The top-up loan cannot be used for purchasing another property.
• The top-up loan carries the same tenure as your existing home loan.
• Avail the top-up loan at the same attractive interest rate as your parent home loan.

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Axis Bank Home Loan EMI Calculator

EMI is a fixed monthly amount that you are required to pay to the bank until your home loan is fully repaid. 

Calculate your home loan EMI and estimate your monthly repayments. You can adjust loan amounts and tenures, and make well-informed decisions before committing to the bank.

How to Calculate Axis Bank Home Loan EMI?

Home loan EMI is calculated using a mathematical equation:

EMI = [P*r*(1+r)^n]/ [(1+r)^n -1]

Where:
P = Principal (loan amount borrowed)
r = Interest rate 
n = Total number of monthly installments (loan tenure in years*12)

Example: Case Study | Home Loan EMI 20 vs 30 Years

Aman, a young professional living in Mumbai, has just found his dream home – a spacious 3BHK apartment near his workplace. He decides to take a home loan from the Axis Bank to finance the purchase. 

Before signing the loan agreement, Aman wants a clear picture of how much he’ll need to pay every month. To figure this out, he calculates his EMI using the loan’s details.

Home Loan Amount: ₹50,00,000 (₹50 lakh)
Rate of Interest: 8.35% p.a.

But, he is considering two options:

1. A 20-Year Loan (240 months)
2. A 30-Year Loan (360 months)

Longer Tenure = Lower EMI = Higher Interest Payments

Let’s apply the EMI formula to both scenarios:

Scenarios	Home Loan Amount	Interest Rate	Tenure	EMI	Interest Payment	Total Payment
Scenario 1	₹50,00,000	8.35% p.a.	20 years	₹42,918	₹53,00,236	₹ 1,03,00,236
Scenario 2	₹50,00,000	8.35% p.a.	30 years	₹37,915	₹86,49,548	₹ 1,36,49,548

Which Option Is Better and Why?

If Your Goal Is Long-Term Savings: Opt for the 20-year loan. 

• Although the monthly EMI is higher, your total interest outflow is much lower. 
• Over time, you save more than ₹33 lakh in interest compared to the 30-year option. 
  

If Your Goal Is Immediate Affordability: Choose the 30-year loan. 

• You’ll pay a lower EMI each month, easing short-term financial burden. 
• However, this comes at a significant long-term cost, as you’ll end up paying much more in total interest over the life of the loan.

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Axis Bank Home Loan Eligibility Criteria

Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by Axis Bank:

Housing Loan/ Subh Arambh Home Loan/ Home Loan Balance Transfer/ Fast Forward Home Loan/ 

Aspect	Salaried Individuals	Professionals	Self Employed
Age	21 years – 65 years	21 years – 65 years	21 years – 65 years
Work Experience	Stable employment history	Consistent income	Consistent income through tax returns.
Work History	Government sectors or reputed companies.	Doctors/ Lawyers/ Chartered Accountants/ Management Consultants	Business owners or entrepreneurs

Asha Home Loan

Aspect	Salaried Individuals	Professionals	Self Employed
Age	21 years – 65 years	21 years – 65 years	21 years – 65 years
Work Experience	Stable employment history	Consistent income	Consistent income through tax returns.
Work History	Government sectors or reputed companies.	Doctors/ Lawyers/ Chartered Accountants/ Management Consultants	Business owners or entrepreneurs
Minimum Salary	₹8,000 per month	₹8,000 per month	₹8,000 per month

Home Loan Top Up

Condition	Details
Property Ownership	The property must be owned by an NRI only or in joint ownership (Applicable only for NRI customers).
Loan Extension	Top-up loans can only be extended against complete residential property with no pending post-disbursal documentation.
Repayment History	For an existing home loan borrower, clear repayment history is important. No more than 1 EMI bounce in the last year, and it must be cleared before the next EMI date.
Eligibility for Top-Up Loan	Existing home loan customers are eligible for a Top-Up Home Loan after six months of clear repayment.
Loan Takeover	For a Top-Up Loan with takeover of a home loan from another bank, a one-year clear repayment track will be required.

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Documents Required For Axis Bank Home Loan

When applying for a home loan with Axis Bank, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:

General Documents

Category	Documents Required
Proof of Identity	PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card
Proof of Address	Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement
Date of Birth Proof	Passport/ Driving Licence/ PAN Card/ Birth Certificate/ 10th Marksheet
Signature Proof	Passport/ PAN Card

Check Out: List of Documents required for Home Loan Disbursement

Proof of Income

Salaried	NRI Salaried	Self-Employed
3 months pay slip	3 months pay slip	2 years ITR, Computation of Income, P&L, Balance Sheet with CA seal and sign
6 months pay slip/2 years bonus proof (in case of variable pay)	Appointment letter/contract letter	For Asha HL – 1 year ITR, Computation of Income, P&L, Balance Sheet with CA seal and sign
6 months bank statement showing salary credits	Continuous Discharge Certificate for Shipping cases	Tax Audit Report (if gross turnover exceeds ₹1 crore or gross receipts exceed ₹25 lakh)
2 years Form 16 (or employment continuity proof)	6 months Domestic NRE/NRO account statement	6 months bank statements of personal and business accounts
	6 months international salary account statement	CPC and tax paid challan
	Overseas credit report	Atleast 3 years of business continuity proof
	Valid visa copy/OCI card
	Passport copy
	POA details

Home Loan Balance Transfer

Category	Details
For Balance Transfer / Takeover of Loan from Other Bank / Financial Institution	12 months loan account statement with latest outstanding letter
	Existing loan details and 6 months bank statement from where EMI is deducted

Other Important Documents

Other Documents
Completely filled and duly signed application form along with all applicants’ latest passport size photo
Aadhar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants
PAN card is mandatory for all financial applicants
Processing Fee and CERSAI cheques
Self-attestation of borrowers on all documents submitted

Check Out: List of Documents Required for Home Loan Sanction

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Axis Bank Home Loan Tenure

Home loan tenure refers to the duration over which the borrower agrees to repay the loan amount along with interest. Axis Bank offers flexible tenure options to accommodate varying financial situations and preferences. Here’s an overview:

Home Loan Type	Tenure
Axis Bank Housing Loan/ Subh Arambh Home Loan	30 Years
Axis Bank Super Saver Loan	22 Years
Axis Bank Top Up Loan	Same as the Outstanding Home Loan Tenure
Axis Bank Asha Home Loan	30 Years
Axis Bank Fast Forward Loan	Minimum: 20 Years
Axis Bank Quick Pay Home Loan	30 Years

Impact of Home Loan Tenure on EMIs

• EMI: Longer tenure results in lower monthly EMIs; shorter tenure leads to higher EMIs.
• Interest Payments: Extended tenure increases the total interest, while a reduced tenure decreases it.
• Budget: Longer tenure eases monthly budget strain, whereas shorter tenure requires higher income stability
• Cash Flow: Longer tenure frees up cash for other investments, while shorter tenure ties up more funds in EMIs.

How to Choose the Best Axis Bank Home Loan Tenure?

• Assess income, expenses, and job security for consistent repayments.
• Opt for shorter tenures to reduce overall interest costs.
• Choose EMIs that fit comfortably within your budget.
• Calculate total interest to minimize long-term costs.
• Check for prepayment options without heavy penalties.
• Align tenure with long-term financial goals.
• Plan to settle the loan before retirement.
• Factor in potential salary growth for shorter tenures.
• Balance EMI affordability with loan tenure.

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How To Apply For a Home Loan From Axis Bank?

Getting your dream home is easier than ever with Axis Bank. Apply today and take the first step towards securing a home loan with competitive rates and flexible terms!

Here’s the information in a table format:

Steps	Description
1. Meet a Loan Executive	Discuss your home loan requirements with an Axis Bank loan executive.
2. Submit Application and Documents	Provide the filled application form and required documents (e.g., income proof, ID proof, address proof).
3. Document Review	The legal and technical teams will verify your application and documents.
4. Receive Sanction Letter	If approved, receive a sanction letter with loan terms.
5. Submit Additional Documents	Provide any additional documents requested by the bank.
6. Loan Approval	Receive final confirmation of loan approval.
7. Loan Disbursement	The approved amount will be disbursed within 15 days.

Read More: How to Check Axis Bank Home Loan Statement?

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Axis Bank Home Loan: Minimum and Maximum Loan Amount

Axis Bank offers home loans that cater to various financial situations. From first-time buyers needing a smaller loan to those looking to invest in premium real estate, knowing the minimum and maximum amounts available can simplify your search.

Types of Home Loans	Minimum Loan Amount	Maximum Loan Amount
Subh Arambh Home Loan	₹1,00,000	₹30,00,000
Fast Forward Home Loan	₹30,00,000	Depends on income
Asha Home Loan	₹1,00,000	₹35,00,000
Home Loan Top Up	–	₹50,00,000
Super Saver Home Loan	₹10,00,000	–
Quick Pay Home Loan	₹3,00,000	–

Home Loan Down Payment

Loan Amount	% of Down Payment Required
Up to ₹30,00,000	10% of the property value
₹30,00,000 – ₹75,00,000	20% of the property value
₹75,00,000 and Above	25% of the property value

Check Out : Calculate Your Down Payment Now

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Axis Bank Home Loan Customer Care

To facilitate effective communication with customers, in addition, Axis Bank offers various channels for customer support.

Contact Category	Contact Information
Toll Free Number	1860 419 5555/ 1860 500 5555
Charges Applicable	1860 500 4971
NRI Non Toll Free Number	+91 40 67174100
NRI (Toll Free Number)	USA: 1855 2055577 Saudi Arabia: 800 850 0000UK: 8008 178 5040 UAE: 8000 3750 3218 Singapore: 800 1206 355 Qatar: 00 800 100 348 Canada: 1855 436 0726 Australia: 1800 153 861
SMS for E Statement	“ESTMT” to 56161600/ 9951860002
Corporate Office	Axis Bank Limited,“Axis House”P.B Marg, WorliMumbai – 400025

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Axis Bank Home Loan Centers Near You

Finding the right support when applying for a home loan is crucial to making your homeownership dreams a reality. Axis Bank has multiple home loan centers nationwide to provide you with convenient access to expert advice and personalized services. 

Check out the nearest Axis Bank branch using our branch locator tool.

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Axis Bank Home Loan Approval and Disbursal

Axis Bank is committed to processing home loan applications with utmost efficiency. Typically, the entire approval process is completed within 15 to 30 working days from the date of application submission. 

However, this timeline may vary based on several key factors:

• Completeness of documents
• Property type and location
• Applicant’s financial profile and credit score

Axis Bank Home Loan Disbursement Process

Axis Bank ensures a compliant and efficient home loan disbursement through a three-stage process: Application, Sanction, and Disbursement.

1. Application for Home Loan: Applicants are required to complete the home loan application form, providing necessary personal, income, and property documents and details.

2. Home Loan Sanction: Upon submission, Axis Bank reviews the application and documents. Legal and technical experts assess the property’s compliance and condition.

3. Home Loan Disbursement: After receiving the sanction letter, the borrower is required to complete the down payment and submit final property documents for loan disbursement.

Types of Home Loan Disbursement

• Full Disbursement: Entire loan amount released if the property is fully constructed
• Partial Disbursement: Loan disbursed in stages based on construction progress for under-construction properties

How to Maximize the Chances of Axis Bank Home Loan Approval?

• Maintain a high credit score
• Showcase strong financial stability
• Reduce existing debt obligations
• Provide complete and accurate documentation
• Pay sufficient down payment
• Choose property in approved locations
• Maintain consistent employment history
• Avoid multiple loan applications simultaneously
• Submit clear and legal property documents
• Ensure proper property valuation
• Keep income tax returns up to date
• Maintain low credit utilization ratio

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Axis Bank Home Loan Insurance

Axis Bank does not directly offer a home loan insurance product. However, they partner with the following insurance providers to offer home loan insurance solutions:

• Life Insurance Corporation of India
• Max Life Insurance
• Tata AIG General Insurance
• Bajaj Allianz Life Insurance
• Aditya Birla Health Insurance
• ICICI Lombard General Insurance
• Niva Bupa Health Insurance
• Go Digit General Insurance
• Royal Sundaram General Insurance
• The New India Assurance
• Bajaj Allianz General Insurance
• Tata AIA Life Insurance

Must Read: Is home loan insurance mandatory?

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Axis Bank Home Loan Tax Benefits

Home loans offer significant tax benefits under the Income Tax Act, 1961. These benefits apply to both the principal amount and interest paid, making home loans more cost-effective.

Section	Deduction Type	Maximum Deduction Amount	Conditions
80C	Principal Repayment of Home Loan	₹1.5 Lakh per annum	The house property must not be sold within five years of possession.
80C	Payment of Stamp Duty	₹1.5 Lakh per annum	These expenses can only be claimed in the year they are incurred.
24b	Interest Payment on Home Loan	₹2 Lakh per annum	The loan must be taken for purchasing or constructing a house. If constructing a house, the construction must be completed within five years from the end of the financial year in which the loan was taken. If the property is let out (rented), there is no cap on the interest deduction under Section 24(b). This allows property owners renting out their property to claim full interest payments as a deduction.

Must Read: Calculate Your Home Loan Tax Savings

1. Section 24B – Deduction on Home Loan Interest

What It Is: Allows you to claim a deduction on the interest paid on your home loan.

• Self-Occupied Property: Deduct up to ₹2 lakh per year on interest payments.
• Rented Property: No upper limit on the interest amount you can claim.

Example

Category	Amount
Loan Amount	Rs. 70,00,000
Interest Payable Per Year	Rs. 4 Lakhs
Tax Deduction	Rs. 2 Lakhs/ Year
Tax Bracket	30%
Tax Benefits per Year	Rs. 66,000

2. Section 80C – Deduction on Principal Repayment

What It Is: Allows deduction on the principal portion of your home loan repayments, up to ₹1.5 lakh per year.

• Reduces your taxable income by the principal amount repaid.
• Also includes stamp duty and registration charges (one-time claim in the year incurred).

Example

Category	Amount
Loan Amount	Rs. 75,00,000
Principal Payable Per Year	Rs. 3.5 Lakhs
Tax Deduction	Rs. 1.5 Lakhs per Year
Tax Bracket	30%
Tax Benefits per Year	50,000

Total Tax Benefits (Section 24B + Section 80C = Rs. 1.16 Lakhs/ Year

3. Joint Home Loans – Double the Benefits

What It Is: When two or more people take a joint home loan and are co-owners of the property.

• Section 24B: Each co-borrower can claim up to ₹2 lakh on interest.
• Section 80C: Each can claim up to ₹1.5 lakh on principal repayment.
• Total Tax Savings: Potentially ₹1.05 lakh per person per year (at 30% tax rate).

Who is Eligible to be a Co-Applicant?

• Father/ Mother
• Unmarried Daughter
• Siblings
• Husband/ Wife
  (Minors cannot be considered as co-applicants for a Home Loan)

Example

Category	Co Applicant 1	Co Applicant 2
Tax Deduction under 24B	Rs. 2 Lakhs/ Year	Rs. 2 Lakhs/ Year
Tax Deduction under 80C	Rs. 1.5 Lakhs/ Year	Rs. 1.5 Lakhs/ Year
Tax Deductions/ Year	Rs. 3.5 Lakhs/ Year	Rs. 3.5 Lakhs/ Year
Tax Bracket	30%	30%
Tax Benefits	Rs. 1.16 Lakhs/ Year	Rs. 1.16 Lakhs/ Year

When you opt for a co-applicant on your home loan, the savings can be substantial due to the ability to claim tax deductions separately. For example, with a co-applicant, the total tax savings can amount to ₹2.32 lakhs annually. Here’s how it works:

• EMI Paid per Year: ₹60,000 x 12 = ₹7,20,000
• Money Saved through Tax Deductions: ₹2,32,000
• Net Money Paid after Deductions: ₹7,20,000 – ₹2,32,000 = ₹4.88 lakhs

By utilising this tax benefit, you effectively lower your financial outflow, paying only ₹4.88 lakhs per year instead of the full ₹7.20 lakhs. 

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Why Should You Choose Axis Bank For Your Home Loan?

• Flexible repayment tenure for convenience.
• Transparent and efficient loan processing.
• No prepayment penalty for floating rate loans.
• Doorstep service for added convenience.
• Competitive and attractive interest rates.
• Hassle-free balance transfer process.

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How Credit Dharma Simplifies The Home Loan Journey? 

Buying a home is a big step. Getting a home loan can be hard, but we make it easy. At Credit Dharma, we make this possible by offering lowest guaranteed interest rates that keep your monthly payments manageable, allowing you to enjoy more of what truly matters.

But that is not it. We offer:

• Guaranteed up to 100% funding
• Receive lifetime assistance and expert guidance long after your loan is approved.
• Enjoy a fully digital process with minimal paperwork 
• Get your loan approved within just 1-2 weeks.

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