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Home » Looking for a Home Loan to own your Dream Home? Axis Bank Home Loan with Lowest Interest Rate is your Way to Go!

Looking for a Home Loan to own your Dream Home? Axis Bank Home Loan with Lowest Interest Rate is your Way to Go!

Axis Bank Home Loan

Owning or building a home in this expensive world can be a great challenge and many people start considering it a burden. The cost that comes with the utilities of buying or building a home is far from the reach of a middle-class man. However, the world has evolved a lot, and there’s a possible solution for almost every problem. You might be thinking of the solution to this problem too. Well, the good news is that we have one for you!

Today, almost every financial institution provides home loans to customers, be it a bank or NBFCs. There are so many options available for you; choosing the best among them can be challenging. There are many factors that must be considered while looking for a home loan. One such important factor is the “rate of interest.” The interest rate plays a crucial role in determining the overall repayment charges and all.

So, if you need a home loan that too with affordable ROI, then Axis Bank Home Loan is your perfect pick. This article will guide you on the same and by giving a more detailed overview of the same.

This table entails a concise view of the Axis Bank Home Loan

Loan Amount

upto Rs. 5 crore

Loan Tenure

30 years

Floating Interest Rate

8.10%-8.45%

Fixed Interest Rate

14%

Processing Fee

Up to 1% of the loan amount +GST (minimum Rs 10,000)

Location

PAN India

Pre-payment Charges

Nil

Features & Benefits of Axis Bank Home Loan

Listed below are the top benefits of Axis Bank Home Loan that you must know:

  • Get the lowest and attractive interest rates

With attractive home loan interest rates, you may make your loan inexpensive and easier on your finances each month.

  • Choose the interest type

You get an opportunity to choose between fixed and floating home loan interest rates.

  • Hassle-free loan balance transfer

Without any kind of hassle, you can easily transfer your current home loan to Axis Bank.

  • Get complete assistance at your doorstep

From the convenience of your home or office, you can easily apply for or repay a home loan.

  • No need to pay any prepayment charges

There are no prepayment charges for paying off your home loan before the due date (only for loans availed at a floating rate of interest).

  • You can count on quick and transparent processing.

Premium banking customers can speak with their relationship manager to learn more about exclusive benefits.

  • Repay your loan over a longer repayment period.

Depending on your financial condition, you can repay your home loan over a longer period of time with fewer monthly installments.

Different types of Home Loans offered by Axis Bank

To make your life simpler, Axis Bank has curated a list of various types of home loans that will help you to identify your needs very easily. Let’s move ahead and have a look at them:

  1. Axis Bank Home Loan

Features:

  • Loans for Resident Indian and NRI Salaried and Self Employed customers.

  • Attractive fixed and floating interest rates.

  • Loan Amount: up to Rs. 5 Crore

  • Maximum Tenure of 30 years

  1. QuikPay Home Loan

Features:

  • Loans with Reducing Monthly Instalments

  • Loan Amount: up to Rs. 5 Crore

  • Maximum Tenure of 30 years

  1. Shubh Aarambh Home Loan

Features:

  • 12 EMIs off on regular payments of EMIs. 4 EMIs each waived at the end of the 4th, 8th, and 12th year.

  • No extra costs, nil prepayment charge.

  • Loan Amount: upto Rs. 30 lakhs

  • Maximum Tenure of 30 years

  1. Fast Forward Home Loan

Features:

  • 12 EMIs off on regular payments of EMIs. 6 EMIs waived at the end of the 10th and 15th year.

  • No extra costs, nil prepayment charge.

  • Loan Amount: Rs. 30 lakhs to Rs. 5 Crore

  • Maximum Tenure of 30 years

  1. Asha Home Loan

Features:

  • Affordable home loans for both Salaried and Self Employed customers.

  • Available on a minimum combined family income of Rs. 8000 p.m.

  • Loan Amount: Rs. 1 lakh to Rs. 35 lakhs

  • Maximum Tenure of 30 years Available on a minimum combined family income of Rs. 8000 p.m.

  1. Top-Up Home Loan

Features:

  • Top Up loan for existing Home Loan customers and for Balance Transfer customers.

  • Get additional financing on the same property for personal or business requirements.

  • Loan Amount: upto Rs. 50 lakhs

  • Maximum Tenure is the same as outstanding Home Loan tenure

  1. Super Saver Home Loan

Features:

  • Home loan with an overdraft facility to save total interest payable on your home loan.

  • Invest surplus funds in the account to earn interest and withdraw whenever needed.

  • Loan Amount: Rs. 10 lakhs to Rs. 5 Crore

  • Maximum Tenure of 20 years for a fully disbursed case and 22 years for a partly disbursed case

  1. Power Advantage Home Loans

Features:

  • Loans with 2 years fixed + floating interest rate.

  • Loan Amount: up to Rs. 5 Crore

  • Maximum Tenure of 30 years

Interest rate on Axis Bank Home Loan

As mentioned above, Axis Bank provides you with the most affordable and lowest interest rate. We have covered more about the interest rate in the below section:

For Salaried Individuals

Type

Repo Rate + Spread

Effective Rate of Interest

Floating Rate

Repo Rate + 2.70% to Repo Rate + 3.05%

8.10% – 8.45% p.a.

Fixed Rate

All Loan Amounts

14% p.a.

For Self Employed Individuals

Type

Repo Rate + Spread

Effective Rate of Interest

Floating Rate

Repo Rate + 2.80% to Repo Rate + 3.15%

8.20% – 8.55% p.a.

Fixed Rate

All Loan Amounts

14% p.a.

Interest Rates on Asha Home Loans & Interest Rates on Loan Against Property

The interest rate will solely depend on the credit assessment and the product variant of the applicant who is availing the loan.

Axis Bank Home Loan balance transfer interest rates

With the fantastic balance transfer option offered by Axis Bank, you can put an end to the financial struggle you have been experiencing as a result of high-interest rates. With this facility, you can minimize your EMI burden by transferring your existing home loan outstanding balance to Axis Bank. However, you need to pay a small processing fee for this facility, but as the Axis Bank Home Loan interest rates are very low, you will have to repay the loan without any hassle.

The balance transfer fees will depend solely on the outstanding loan amount. Other than this, there are two core things a lender will cross-verify before sanctioning your balance transfer application. For your information, these two things are repayment behavior and the CIBIL score. On verifying these factors, your application will be processed further, and your existing loan amount will be transferred to Axis Bank Home Loan. The biggest benefit of using the Axis Bank Home Loan Balance Transfer facility is the saving on EMI and interest outgo.

End note

Getting a home loan is a very easy affair these days, and Axis Bank Home Loan is the best choice for you. With the Axis Bank Home Loan, you can get a loan of upto 5 crores, and that too with a very low and affordable interest rate. So, next time whenever you need a Home Loan always look ahead towards Axis Bank as they are the best!

FAQs

You can lower your Axis Bank home loan interest rate by switching to the floating interest rate.

An Axis Bank home loan for seniors may have an interest rate ranging from 7.60% p.a. to 8.05% p.a.

You may prepay your Axis Bank home loan, but there will be 2% prepayment penalties applied to the remaining principal and fixed rate of interest. Also, the applicants for home loans with floating interest rates are not charged any prepayment fees.

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