Axis Bank Home Loan Interest Rate:

Axis Bank home loan rate can be either variable or fixed.

For home loans less than 20 Lacs, the floating Axis Bank home loan interest rate is 9.25%. Axis Bank home loan rate in this range is at a  Base Rate of + 1.25%.

For home loans from 20 lacs to 75 lacs the floating Axis Bank home loan interest rate is 9.50%. Axis Bank home loan rate in this range is  at a base rate of + 1.50%. In this range the fixed Axis Bank home loan rate is 14%.

For home loans above 75 lacs the floating Axis Bank home loan interest rate is 9.75%. Axis Bank home loan interest rate in this range is at a base rate of + 1.75%. The Axis Bank home loan rates keep changing according to the changing economic condition.

Axis Bank Home Loan Eligibility:

Axis Bank Home Loan Eligibility Criteria For Salaried People:

-As per the Axis Bank home loan review the person should have a permanent job.

-The minimum age of the applicant should not be more than 24 years.

-As per the Axis Bank home loan eligibility an applicant should not be more than 60 years at the time of loan maturity.

Axis Bank Home Loan Eligibility Criteria For Self Employed:

-Axis Bank home loan review shows that a self employed loan applicant should have filed for income tax return.

-The minimum age of the applicant should not be more than 24 years.

-In order to fulfill the Axis Bank home loan eligibility criteria one needs to file last 2 years income tax returns along with 2 years balance sheet.

Criterion's and documents required for salaried and self employed Axis Bank home loan

 Axis Bank home loan review shows that an applicant needs to submit

-Duly filled form

-Proof of identity

-Proof of residence

-Bank statement or pass book for last 6 months.

-Proof of Income and Income Tax statement as applicable to the customer. The list of income documents required is available above.

Procedure And Options To Apply For The Loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

Maximum And Minimum Tenor Of The Loan:

According to the Axis Bank Home Loan the loan is provided for a maximum period of 25 years in case of payment in equated monthly installments.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre closure process: In case a customer of  Axis Bank home loan wishes to close his loan before the agreed period or term is termed as pre closure. In this case the bank charges a 2% penalty in case if the loan is being paid before the stipulated period.

Tax benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.