Frequently Asked Questions for Asha Home Loan

Axis Bank is one of the preferred financial services providers in the country. Axis Bank is also one of the largest players in the Home Loan industry. Over the years we have developed a bouquet of product offerings in order to cater to the home loan requirements across all customer segments. We have our presence across the country and customers can choose from our large base of approved projects. The attractive interest rates and minimal processing fees make our home finance products a first choice. In addition, features such as flexible tenures, transparent processing and quick service have made our products stand out among the best home loans in India.

With Asha Home Loans, you can avail a Home Loan for purchasing a ready, under construction or a resale property. You can also avail a Home loan for purchasing a plot and constructing a House thereon, or get a loan for constructing a house on a plot already owned.

For loans up to Rs. 30 Lakhs – 90% of documented cost and the market value

Yes, the facility is extended under floating as well as fixed rate options.

Fixed rate loans can only be offered if loan is availed for tenure of not exceeding 20 years.

You can avail a Home loan up to:
Rs 35 lakhs for buying a property in a location with population over 10 lakhs*
Rs 25 lakhs for buying a property in a location with population up to 10 lakhs* (population as per census 2011)

Yes, we extend loans for property area starting from 300* sq. ft and 200 sq. ft for properties in NCR and MMR.

For loans up to Rs. 28 Lakhs - 90% of documented cost or Market Value (whichever is lower).

Yes. We can extend Home Loans to salaried individuals receiving their salary in cash. For more details please contact our Customer Care centre or nearest Asset Sales Centre.

Yes, we takeover loans from other Banks & FIs at attractive rate of interest. We also takeover loans based on the repayment track record of the customer with simple documentation.

Application form with a photograph of the applicant and co-applicant Identity, address, signature and age proof Copy of PAN Card or Form 60 of applicant /co-applicant 6 months bank statements Proof of income

Loan sanctioned for under construction property is disbursed in instalments. These disbursements in instalment are called as Part / Subsequent Disbursement. You will need to make a request to the Bank for the part disbursement.

You will need to submit request for part disbursement to the Bank along with following documents. Disbursal Request Form (DRF) filled and signed Demand letter from the builder (in original) Receipts of payments made to the builder/developer

The Disbursement Request Form has been sent to you along with your Welcome Kit alternately to download the form, please click here

You can submit the part disbursement requests using any of the following channel. Contact our sales representative who has been liaising with you for your loan requirements. Visit any of the Loan Center (preferably from where you have taken loan) to submit your request along with the required documents

Axis Bank's PAN is AAACU2414K and its registered office address is Axis Bank Limited, TRISHUL, Third Floor, Opp. Samartheshwar Temple, Nr. Law Garden, Ellisbridge, Ahmedabad - 380 006

Yes. Total processing fees of 1% of the outstanding principal with a minimum of Rs. 10,000 plus GST as applicable will be charged. Upfront processing fee of Rs 2500 plus GST shall be collected at the time of application login. This fee will not be refunded under any circumstances such as loan rejection/withdrawal of the loan application etc., non disbursement of loan for the reasons solely attributable to the customer. Balance processing fee as applicable shall be collected at the time of loan disbursement.

Any pre-payment/excess amount paid by you to the Bank; shall be appropriated in the loan account basis the below criteria/methodology in the absence of any specific instructions from you:

1. Excess amount greater than (>) EMI: If service request (SR) for part payment is not created/received within 2 days of receipt of funds, the excess funds will be adjusted towards principal outstanding as part payment.
2. Excess amount equal to (=) EMI: If service request (SR) / instructions for part payment is not created/received on same day of receipt of funds, excess amount will be refunded to your operative account.
3. Excess amount less than (<) EMI: Excess amount will be kept unappropriated in the Loan account for 15 days. Post 15 days, the excess funds shall be adjusted towards principal outstanding as a part payment.
4. Excess amount equal to (=) or greater than (>) foreclosure / pre-closure amount : In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account and:
1. Excess amount is equivalent (=) to the foreclosure amount, Loan account will be proactively closed by the Bank.
2. Excess amount is greater than (>) the foreclosure amount, adjustment in Loan account would be as follows:
1. If excess amount is up to INR 20,000, Loan account would be closed by the Bank and after closure, excess funds would be credited to the Loan repayment account.
2. If excess amount is greater than INR 20,000, the Bank will connect with you telephonically for verification of payment. Alternatively, you may connect with the Bank on 18604195555 to confirm the credit adjustment in your Loan account.
5. Excess amount less than (<) the foreclosure amount: In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account, then excess amount will be adjusted against the outstanding principal, leaving an amount equivalent to one EMI for forthcoming EMI presentation. However, in case you would like the entire amount to be adjusted against the outstanding principal, please place a request at Phone Banking / Loan Centre at the earliest.

Consequent to the recent announcement by the Reserve Bank of India (RBI) to reduce the repo rate by 50 basis points on 06-06-2025, we are currently reviewing our repo linked loan interest rates.

In line with the terms of the loan agreement, repo rate is adjusted once a quarter on the 25th of the last month of the calendar quarter. Accordingly, the recent repo rate change announced by RBI will take effect from 25-06-2025.

The default impact of this change will be provided to the tenure of the loan, in line with the internal policy of the Bank. Should you wish to keep your loan tenure the same and reduce your EMI instead, you may do so by placing a request, at any of the below contact points, on or after 25-06-2025.

You also have the flexibility to choose from the following options:

• Switch Rate Type: Switch from a floating to a fixed rate or vice versa, up to three times during the loan tenure.
• Prepayment: Prepay your loan, either in part or in full, at any point during the loan tenure. Charges will apply as per the applicable Schedule of Charges.

Call us on:

• 18001035577 (Toll Free)
• 18604195555 or 18605005555 (Charges Applicable)

Online: https://axisbank.com/support

Loan Centres: https://www.axisbank.com/Loancenter

In line with the Terms & Conditions of the loan agreement, repo rate is adjusted once a quarter on the 25th of the last month of the calendar quarter. Accordingly, the cumulative effect of all changes to repo rate in a particular quarter will be passed on the 25th of the last month of the calendar quarter i.e., 25th Mar, 25th Jun, 25th Sep and 25th Dec.

As an example, for the repo change announced on 09-04-2025 and the subsequent change announced on 06-06-2025, the cumulative effect of the two changes to repo rate, effected this quarter (25 bps on 11-04-2025 & 50 bps on 07-06-2025), cumulating to 75 basis points, will be passed on 25-06-2025.

Consequent to repo rate change by Reserve Bank of India (RBI), the current repo rate is 5.5%. If your loan is sanctioned at repo rate of 6%, it will decrease by 50 basis points on 25th June or at the time of disbursement (whichever is later) and accordingly, the effective interest rate on your loan shall be adjusted.

If your loan is sanctioned at repo rate of 5.5%, the interest rate applicable on your loan account shall remain unchanged on 25th June.