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Axis Bank Housing Loans

 

Axis Bank is one of the leading housing finance banks in India providing affordable housing loans to its customers. The bank provides home loans under its popular scheme called Power Home. The loan can be used for purchasing a ready home or building a new home, buying a plot for your future house, or for renovation or extension of your home. You can also transfer your housing loan from other banks to Axis Bank.

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Why Axis Bank Housing Loans?

 

  • Very attractive interest rates starting at 10.25% (for floating upto 25 lacs).

  • Loan amount upto 50 lac rupees for purchase/construction of a house with processing fee of 1%.

  • Repayment period of upto 25 years for buying a home and upto 10 years for renovation and extension of homes.

  • Interest charged on daily reducing balance.

  • No prepayment charges on loans.

  • Loan amount upto 85% cost of the property.

  • Option to choose between floating rate of interest and fixed rate of interest.

  • Friendly doorstep service and hassle free documentation.

 

 

Interest Rates

 

Type

Type

Loan Amount (Rs.)

Rate Of Interest

  

 

Floating Rate

Upto Rs. 25 Lac

10.25%

 

>Rs. 25 lac - Rs. 75 lac

10.50%

 

Loans greater than Rs. 75 lac

10.75%

 

Top Up - All loans

11.75%

 

Renovation

11.75%

 

 

Fixed Rate

All Loan Category

14%

 

 

*Base Rate – 9.5% (as on 8th June 2011)

 

 

Eligibility and Documents

 

For Salaried Individuals: Borrower should be in Government or private sector job with steady income. He/she should be over 24 years of age at the time of loan commencement and maximum of 60 years of age at the time of loan maturity.

 

 

 

Self Employed Individuals: All individuals including professionals who file Income Tax returns can apply for Axis Bank housing loans. The applicant must be 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity.

 

 

Documentation

 

 

 

Salaried

Self Employed

Proof of identity

Voter's ID card or driving license or PAN card or photo credit card or employees ID card or defense or police or government department ID card

Voter's ID card or driving license or PAN card or photo credit card

Proof of income

Latest salary slip showing all deductions or Form 16 along with recent salary certificate

IT returns for the last 2 years and computation of income for the last 2 years certified by a CA

Proof of residence

Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement

Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address

Bank statement

Last 6 months

Last 6 months

 

 

 

Axis Bank Housing Loan EMI Calculator

 

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