₹10 Lakh Home Loan

Secure your dream of owning a home with Axis Bank

Build an asset with a ₹10 lakh Home Loan

Elevate your living standards and invest in a brighter future with a Home Loan of ₹10 lakh from Axis Bank. Unlock possibilities for a comfortable living, enhanced comfort, and potential property appreciation. Our experienced financial advisors offer tailored solutions and comprehensive support to guide you through the process. Enjoy a seamless application process, hassle-free approval and quick sanction of Home Loan for ₹10 lakh.

₹10 Lakh Home Loan EMI for 10 Years

Let us calculate the monthly EMI for a ₹10 lakh home loan with the following details. Note, that the home loan interest rate for ₹10 lakhs may vary.

Loan Amount (₹)	10,00,000
Tenure (years)	10
Interest Rate (p.a.)	8.75% - 9.15%

Note: Considering 8.75% interest rate in the below scenarios.

₹10 Lakh Home Loan EMI

	EMI for 10 Years	EMI for 15 Years	EMI for 20 Years	EMI for 25 Years
Equated Monthly Instalments (EMI in ₹)	12,533	9,994	8,837	8,221
Principal Amount (₹)	10,00,000	10,00,000	10,00,000	10,00,000
Interest Amount (₹)	5,03,921	7,99,008	11,20,906	14,66,431
Total Amount Payable (₹)	15,03,921	17,99,008	21,20,906	24,66,431

Likewise, you can calculate ₹10 lakh Home Loan EMI for 5 years using Home Loan EMI Calculator.

How to apply for ₹10 lakh Home Loan online at Axis Bank?

To initiate the Axis Bank Online Home Loan process:

Review your eligibility criteria before proceeding with the Home Loan application
Utilize the Home Loan Eligibility Calculator to assess your ability to afford the Home Loan
Go to the Axis Bank Home Loan webpage and select the "Apply Now" button
Complete the required details and click on Submit (verify whether you are an existing or new customer, providing your name, mobile number, email ID, city, and state)
Await a call from the Axis Bank representative to discuss product details.
Submit all necessary documents.
Upon approval, submit property documents for verification.
Obtain approval within 15 days, contingent upon the availability of all required documents.

Eligibility for a ₹10 lakh Home Loan:

Salaried employees (permanent government employees or those working in reputable private companies) must be above 21 years of age when applying, with a maturity age of 65 years or at the time of superannuation.
Professionals and self-employed individuals falling within the income-tax bracket are eligible for a Home Loan of ₹10 lakh, with an age limit of 21 years at the time of application and 65 years at loan maturity.
The bank considers annual income, number of dependents, employment status, existing assets, ongoing loan repayments, and credit score when evaluating applications for a Home Loan of ₹10 lakh. The bank ensures that the ₹10 lakh Home Loan EMI is affordable and that the combined EMIs of all loans do not exceed 40% of your take-home pay.

₹10 lakh Home Loan Fees and Charges:

Up to 1% of the loan amount or ₹10,000 (whichever is higher) + GST (as applicable).
An upfront processing fee of ₹5,000 plus GST shall be collected at the time of application submission. The balance processing fee, as applicable, shall be collected at the time of loan disbursement.
The processing fee is a non-refundable fee collected by the Bank for the purpose of reviewing the loan application and same is independent of the outcome of such assessment.

Factors that affect interest rate applicable on a ₹10 Lakh Home Loan:

RBI’s repo rates -Changes in the RBI’s rates impact Home Loan interest rates
Type of loan chosen - A Floating Rate Home Loan generally has a lower interest rate compared to a Fixed Rate Home Loan
Job profile and credit score also affect the interest rate. A stable job and high credit score may result in a better interest rate for Home Loan for ₹10 lakh

Documents required for a ₹10 Lakh Home Loan

Mandatory Documents - Application Form and PAN Card
Any one of the following for Identity Proof - Passport, Aadhaar Card, Driving License, Voter ID
Any one of the following for Proof of Address - Aadhaar Card, Gas Bill, Driving License, Voter Id, Electricity Bill, Telephone Bill (Landline), Property Tax Receipt, Job Card by NREGA duly signed by an officer of the State Government, Letter issued by National Population Register confirming details of Name, Address, Photograph
Any one of the following for Date of Birth proof - Passport, PAN Card, Aadhaar Card with DOB, Driving License, Birth Certificate, SSC Marksheet
Any one of the following for Signature Proof - Passport, PAN Card, Banker’s verification, Notarized affidavit with ID and Address proof (not applicable for financial applicants)

Additional Documents for Self-employed

2 years ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
For Asha Home Loan - 1 year ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
Tax Audit Report (required for individuals whose sales turnover exceed the norms stipulated by the Income Tax Act)
6 months bank statements of personal and business accounts
If ITR is filed without digital sign - CPC and tax paid challan
Three years business continuity proof