Try Applying for a higher Loan Amount as most bank reduce interest rates as loan amount increases
Try Adding the income of a co-applicant like a working spouse
Financebuddha can help you consolidate all your loans into one to increase your eligibility
Axis bank is one of the best commercial banks in India in the private sector. The bank is the third largest private sector bank which has its headquarters in Mumbai, Maharashtra. The bank is known for providing attractive home loans to first time buyers and existing customers. Great customer support, fast problem-solving potential and easy loan disbursal with low interests make this bank one of the most preferred banks of India. The home loan scheme provided by Axis bank has many subtypes from which a customer can choose the best loan.
With Axis Bank’s Happy Ending Home Loans you stand a chance to get your last 12 months’ EMIs waived off by paying the rest of the EMIs regularly. Thus, it is a home loan that gives a happy ending to your loan availing experience.
To calculate the borrowing limit, one can combine the earnings of oneself and the spouse or children. The combined income will then decide the borrowing limit. The minimum limit is INR 300,000. Maximum limit depends on the earnings combined.
The Empower Home Loan gives an option to the loyal customers of the bank who have been paying their EMIs on time. The loan assures reduced rate of interest charges on customers who have paid their other EMIs on time. These loans are available for only self-employed professionals and non professionals.
An Asha home loan is for every individual who wanted to own a house but could not due to barriers in the path. The loan’s easy conditions and availability is like an Asha or ray of hope for every home aspirant.
The super saver home loan brings you the best deals from the market and the axis bank itself. Why spend more on the loan? Save that money and use it for spending on the bank! This happens by linking your loan account to a super saver account. When you have extra funds, you can deposit money in the super saver account which can be used to pay your loan and thus the principal outstanding balance will be reduced. Also, when you need some money, you can get it withdrawn from the super saver account. So, the account works as a savings account as well as a loan account.
A person can borrow a maximum amount of INR 10 million.
You can finance your property by opting for Axis bank loan against property. Axis bank provides an option of financing the loan against a commercial property as well as a residential property. Applicant can apply for a new loan or get the previous loan refinanced.
This special scheme gives to its customers the ability of closing the loan at his own will. The purpose of this loan is to encourage customers to clear off their dues on time and be tension free.
75% of the market value of property.
Axis bank is one of the largest private sector banks of India. It is the third largest private commercial bank of India. The bank has headquarters in Mumbai, Maharashtra. Due to its strong hold and so many branches PAN India, the bank is widely trusted. With loans for everyone tailored as per individual needs, Axis bank has reached the epitome of success. If you want a good customer service with affordable rates of Interest, you should go for a home loan with Axis bank. Various features of the bank like Super Saver Home Loans and Special Balance Transfer Scheme, etc, the Bank has catered to the needs of people who pay their EMIs on time and deserve a better rate of interest in such case.
The bank also offers zero charges for prepayment in case of floating rates of interest. Quick disbursal of home loans and easy documentation are the add one which every customer needs.
With Finance Buddha, you can apply for your home loan easier than ever before. All you need to do is give input about your requirement and get the perfect results just for you. The web portal is 100% safe and secure and you can trust us with your valuable information. Believe, you information is only asked to help you out with your loans. On Finance Buddha, you can conveniently compare the home loans of different banks and choose the one that serves your need. If you want to apply for an Axis Bank home loan through our website, you can compare all the features listed in the list of types of loans which are Happy Ending Home Loans, Empower Home Loans, Asha Home Loans, Super Saver Home Loans, Axis Bank Property Search and Special Balance Transfer Scheme. Apply for the home loan directly and avoid any chance of getting your loan rejected. With us, your loan taking experience becomes pleasant.
Home Loan Amount | MCLR (updated Jan, 2017) | Mean Rate |
Less than INR 7.5 million | 8.85% - 11.75% | 9.92% |
INR 7.5 million – INR 10 million | 9.15% - 10% | 9.47% |
Greater than INR 10 million | 9.05% -10.35% | 9.47% |
Floating Rate:
If loan is up to INR 2.80 Million: 9.15%
If loan is higher than INR 2.80 Million upto INR 7.5 million: 9.20%
If loan is higher than INR 7.5 million: 9.35%
Top Up for existing borrowers: For loan amount Up to 30%: Exact rate as present rate of interest.
For loan amount 30% to 100%: Rate for loan against property shall be levied
Floating Rate:
If loan is up to INR 2.80 Million: 9.20%
If loan is higher than INR 2.80 Million upto INR 7.5 million: 9.25%
If loan is higher than INR 7.5 million: 9.35%
Top Up for existing borrowers: For loan amount Up to 30%: Exact rate as present rate of interest
For loan amount 30% to 100%: Rate for loan against property shall be levied
The customer might be charged as per the base rate or the MCLR depending upon his choice. If a customer was paying interest by base rate, he will have to contact the bank to switch to the MCLR.
Rate of interest as per MCLR
Floating Rate:
If loan is up to INR 2.80 Million: 9.15%
If loan is higher than INR 2.80 Million upto INR 7.5 million: 9.20%
If loan is higher than INR 7.5 million: 9.35%
Top Up for existing borrowers: For loan amount Up to 30%: Exact rate as present rate of interest.
For loan amount 30% to 100%: Rate for loan against property shall be levied
Floating Rate:
If loan is up to INR 2.80 Million: 9.20%
If loan is higher than INR 2.80 Million upto INR 7.5 million: 9.25%
If loan is higher than INR 7.5 million: 9.35%
Top Up for existing borrowers: For loan amount Up to 30%: Exact rate as present rate of interest
For loan amount 30% to 100%: Rate for loan against property shall be levied
The customer might be charged as per the base rate or the MCLR depending upon his choice. If a customer was paying interest by base rate, he will have to contact the bank to switch to the MCLR.
Rate of interest as per MCLR
The customer might be charged as per the base rate or the MCLR depending upon his choice. If a customer was paying interest by base rate, he will have to contact the bank to switch to the MCLR.
Rate of interest as per MCLR:
Floating Rate: MCLR + 1.4%: 10.25%
Floating Rate: MCLR + 1.65: 10.50%
Floating Rate: MCLR + 1.9%: 10.75%
Floating Rate: MCLR + 2.15: 11.00%
The base rate of the bank is 9.25%.
MCLR is set at 8.85% and can be changed on half yearly basis.
For loan amount INR 10 million and above:
The fees and charges are different for Loan against property, Loan Against Rent Receivables and Commercial OD against Property or Dropline Overdraft Against Property.
Type of Loan | Applicable Pricing For PSL cases | Applicable pricing for Non-PSL cases |
LAP ( Income Based , GTP,GPR) | MCLR + 2.55%= 11.40% p.a. | MCLR + 2.65% = 11.50% p.a. |
LAP ( Surrogates- Banking, Repayment Based) | MCLR + 2.80%= 11.65% p.a. | MCLR + 2.90% = 11.75% p.a. |
LAP Overdraft Against Property Loans-Residential & Commercial | MCLR + 3.15% = 12.00% p.a. | MCLR + 3.25% = 12.10% p.a. |
Marginal Cost Based Lending Rate - 8.85%
MCLR Reset frequency for Loan against property - Half Yearly
Base Rate - 9.35%
A good record of banking with the bank or a good history of loan payment if you already have a loan.
For salaried professionals:
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