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Axis Bank Home Loans


Shubh Aarambh Home Loan

4 EMIs WAIVED EVERY 4 YEARS*

12 months waived off

4 EMIs waived off at the end of the 4th, 8th & 12th year

Balance transfer facility

Transfer an existing home loan to Axis Bank without any hassle and avail this facility

PMAY Benefits

Option to avail government aided interest benefit on qualifying under Pradhan Mantri Awas Yojana criteria

For Home Loans Upto Rs. 30 Lakh

Exclusively for Home Loans upto Rs. 30 Lakh

Features and Benefits

For Salaried:

Sr.
No
Type Loan amount (Rs.) MCLR + Mark Up Effective Rate Of Interest
1 Floating Rate Loan amount upto Rs 30 lacs MCLR + 0.00% 8.50% p.a.
Top Up for existing customers Upto 30%- Same rate at which the home loan is running
30%-100%- LAP rate shall be applicable
2 Fixed rate (for 20 years) All Loan Amounts - 11.75%

For Self Employed:

Sr.
No
Type Loan amount (Rs.) MCLR + Mark Up Effective Rate Of Interest
1 Floating Rate Loan amount upto Rs 30 lacs MCLR + 0.05% 8.55% p.a.
Top Up for existing customers Upto 30%- Same rate at which the home loan is running 30%-100%- LAP rate shall be applicable
2 Fixed rate (for 20 years) All Loan Amounts - 11.75%

Marginal Cost Based Lending Rate - 8.50%
MCLR Reset frequency for Home Loans - Half Yearly
Base Rate - 9.20%
MRR - 13.70%

BPLR - 16.95%

Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.


Other Charges**

Description of charges Amount (Rs.)
Processing Fee Charges Upto 1% of the loan amount subject to minimum of Rs. 10,000/-

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.
Penal Interest Rate @24 % per annum, 2% per month
Switching Fees (Base Rate/BPLR to MCLR)#
  • When effective rate is to be kept the same - No fees
  • When effective rate is to be revised - 0.5% on outstanding principal with minimum of Rs 10000/-
Switching Fees (Floating Rate to Fixed Rate)# NA
Switching Fees (Fixed Rate to Floating Rate)# NA
Switching Fees (Higher Floating Rate to Lower Floating Rate )# NA
Switching Fees (Higher Floating Rate to Lower Floating Rate )# 0.5% on outstanding principal with minimum of `10,000/-The lower rate will be equal to the applicable carded interest rate only
Repayment Instruction/Cheque Return charges 500/- Per Instance
Cheque/Instrument Swap Charges 500/- Per Instance
Duplicate Statement Issuance Charges 250/- Per Instance
Duplicate Amortization Schedule Issuance Charges 250/- Per Instance
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges 250/- Per Instance
Issuance Charges of Credit Report 50/- Per Instance
Issuance Charges for Photocopy of title documents 250/- Per document set
Charges on customer initiated requests for copies of documents 250/- Per document set
Prepayment Charges including part prepayment for floating rate loan NIL
Prepayment Charges for fixed rate loan 2% of the principal outstanding
Equitable Mortgage Creation Charges As applicable in the As applicable in the state
CERSAI charges Rs 50/- For Loans up to 5 Lakhs
Rs 100/- For Loans above 5 Lakhs

** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).



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