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₹45 lakh Home Loan

Secure your dream of owning a home with Axis Bank

A Home Loan of ₹45 lakh paves the way for financial security. Offering an affordable and convenient way to finance your dream home, this loan serves as a foundation for long-term stability and financial freedom. Moreover, it brings comfort and peace of mind to your life.

With flexible repayment tenures and affordable EMIs, a ₹45 lakh Home Loan from Axis Bank helps you own a valuable asset and create a lasting legacy for your loved ones without straining your pocket.

Grab the opportunity to kickstart your journey to a secure future - Apply for a ₹45 lakh Home Loan now!

₹45 lakh Home Loan EMI for 10 years

Loan SpecificationsAmount in ₹
Principal Value₹45,00,000
Interest Rate8.75% per annum*
₹ 45 Lakh Loan EMI for 10 years₹56,397
Total Interest Payable₹22,67,645
Total Repayment Amount₹67,67,645

*The interest rate listed is for informational purposes only; the actual Home Loan interest rates are subject to variations based on the lender and market dynamics.

₹45 lakh Home Loan EMI for 20 years

Loan SpecificationsAmount in ₹
Principal Value₹ 45,00,000
Interest Rate8.75% per annum*
EMI for ₹45 Lakh Home Loan EMI₹39,767
Total Interest Payable₹50,44,076
Total Repayment Amount₹95,44,076

*The interest rate listed is for informational purposes only; the actual Home Loan interest rates are subject to variations based on the lender and market dynamics.

₹45 lakh Home Loan application process

  • Visit the Axis Bank Home Loan webpage and click on “Apply Now” button.
  • Carefully evaluate the eligibility requirements.
  • Start filling out the form by entering the necessary information accurately.
  • Submit the required documents and pay the applicable fee.
  • On receiving your application, Axis Bank will verify the given details and send you a detailed loan sanction letter mentioning the loan specifics.
  • Subsequently, the bank will conduct a property inspection.
  • Upon successful inspection and post all required documents are received, the loan amount will be credited to your account.

Eligibility criteria for a ₹45 lakh Home Loan

To qualify for a ₹45 lakh loan, different applicants have to satisfy distinct conditions. Here is a summary of the eligibility criteria for various applicant categories:

Salaried individuals

  • Age: 21-65 years
  • Stable work history with a reputable organisation or government.

Self-employed individuals

  • Age: 21-65 years
  • Consistent income documented by the tax returns.
  • A solid credit history.

Professionals

  • Age: 21-65 years
  • Professional occupation, e.g., lawyer, doctor, chartered accountant, company secretary, etc.
  • Proof of professional qualifications and experience.

₹45 lakh Home Loan fees and charges

Getting a ₹45 lakh loan entails several fees and charges for borrowers. These include:

  • The processing fee (charged by the lender) covers the costs of loan processing and verification.
  • Prepayment charges for early Home Loan settlement.
  • Conversion charges for switching loan schemes.
  • Late payment fees for delayed or late ₹45 lakh Home Loan EMI payments.
  • Cheque dishonour charges for bounced cheques given for loan repayment.
  • Loan term alteration charges for changing the loan tenure.

Factors that affect interest rate applicable on a ₹45 lakh Home Loan

  • Principal amount: High loan amounts are considered risky by lenders, resulting in comparatively higher interest rates.
  • Loan duration: Home Loans with prolonged repayment periods impose a greater interest burden on borrowers as the total interest paid accumulates considerably over time.
  • Type of interest rate: Home Loans typically come with two types of interest rates, i.e., floating and fixed.

    Fixed interest rates remain unchanged throughout the loan term while floating interest rates change in response to market forces.

  • LTV ratio: Calculated as a percentage of the Home Loan amount to the property’s total value, this ratio determines the borrower’s and lender’s financial stake and influences the interest rate.

    Lenders view higher LTV ratios as riskier. Thus, a higher LTV ratio leads to an increased interest rate. Meanwhile, a lower LTV ratio usually results in lower interest rates.

Note: Interest rates vary among lenders and change over time.

Documents to be submitted for a ₹45 lakh Home Loan

  • Passport-size photographs
  • Identification documents, such as Aadhaar card, driving licence, passport or voter ID
  • Documents for proof of address, for instance- Aadhaar card, PAN card, passport or voter ID
  • Documents for signature verification, including passport, notarised affidavit, PAN card or banker’s verification
  • Documents for proof of age, e.g., Aadhaar card with date of birth, PAN card, birth certificate or marksheet.

Additional documents for self-employed applicants

Income documents

  • 2 years ITR (Income Tax Return) with computation of Income
  • 2 years profit & loss and balance sheet statement with all the schedules, CA (Chartered Accountant) sign and stamp (not required when ITR is filled under 44 AD)
  • 2 years audit report CA (Chartered Accountant) certified with UDIN number (If gross turnover exceeds ₹1 cr or gross receipts exceeds ₹25 lakh) along with all schedules and annexures
  • 2 years form 26 AS (to be collected if available, not mandatory at login stage)
  • 6 months bank statements (with logo & Bank Name) of primary, personal, and business accounts
  • 1 year GST R – 3B
  • GST registration certificate
  • Office address proof – Utility bill
  • 3 years business continuity proof (if 2 years ITR is taken, then no need to take this document)

Other documents

  • Completely filled and duly signed application form along with all applicant’s latest passport size photo (Mandatory FATCA & PEP Declaration on application form)
  • Existing loan details and 6 months bank statement from where EMI is deducted, if applicable
  • For Balance Transfer Cases Only: Sanction Letter, Statement of Account or bank statement reflecting EMI debit (Document showing applicant / co-applicant on loan structure- Sanction letter/ SOA/ RPS/ Loan Agreement copy)
  • For Balance Transfer Cases- LOD (List of documents) & Foreclosure Letter (Not required at login but for legal report and disbursement respectively)
  • Property Documents (Transaction Specific)
  • Vernacular, OVD (Original Verified documents) Affidavit, if required
  • Processing Fee Cheque in Favor of Axis Bank for Login (As per current grid)
  • Eligibility sheet as per product (highly recommended but not mandatory at login stage)

Additional documents for salaried applicants

Income documents

  • 3 Months’ Salary Slip
  • 2 years Form 16 (Part A and B)
  • Only 1 year Form 16 if salary above ₹50,000 or CSG customer
  • 6 months bank statements (reflecting 6 salary credits)
  • If bonus considered - Salary slip and Banking for same
  • If Increment considered - Increment Letter, Salary slip, Banking for Same
  • Job continuity proof, if same cannot be established from salary slip/form 16

Other documents

  • Completely filled and duly signed application form along with all applicant’s latest passport size photo (Mandatory FATCA & PEP declaration on application form)
  • Existing loan details and 6 months bank statement from where EMI is deducted, if applicable
  • For Balance Transfer Cases Only: Sanction Letter, Statement Of Account or bank statement reflecting EMI debit (Document showing applicant / co-applicant on loan structure- Sanction letter/ SOA/ RPS/ Loan Agreement copy).
  • For Balance Transfer Cases- LOD (List of documents) & Foreclosure Letter (Not required at login but for legal report and disbursement respectively)
  • Property Documents (Transaction Specific)
  • Vernacular, OVD (Original Verified documents) Affidavit, If Required
  • Processing Fee Cheque in Favor of Axis Bank for Login (As per current grid)
  • Eligibility sheet as per product (highly recommended but not mandatory at login stage)

Additional documents for NRI salaried applicants

Income documents

  • Last 3 months salary slip
  • Last 6-month international salary account statement (6 salary credits)
  • Last 6-month domestic NRE/NRO account statement
  • Last 2 yrs. ITR (If available) or equitable document
  • W2 Form or equivalent document for the respective country
  • Appointment letter/Offer letter/Contract Letter of company
  • Continuous Discharge Certificate for shipping cases
  • Overseas credit report (Except Middle East)
  • GPA (General Power of Attorney) required as per banks format- duly attested by Indian embassy, signed and the validity of franking is not expired (If customer is outside of India). If the customer is in India, then GPA to be duly stamped, notarized and signed.
  • Valid Visa/OCI Card - Visa is necessary to be work visa / employment visa / long term resident visa. Short term business visa / travel visa not to be accepted.
  • Passport Copy (Both front and back side of passport)
  • Overseas address proof

Other documents

  • Completely filled and duly signed application form along with all applicant’s latest passport size photo- Confirmation from NRI borrower obtained for the loan application signed by GPA (Mandatory FATCA & PEP Declaration on application form)
  • NRI case where the documents are submitted by NRI applicant directly from overseas / through POA - customer passport copy is attested by the Indian Consulate / Notary Public / Bank Manager at the place of residence of the NRI.
  • Existing loan details and 6 months bank statement from where EMI is deducted, If Applicable.
  • For Balance Transfer Cases Only: Sanction Letter, Statement of Account or bank statement reflecting EMI debit (Document showing applicant / co-applicant on loan structure- Sanction letter/ SOA/ RPS/ Loan Agreement copy).
  • For Balance Transfer Cases- LOD (List of documents) & Foreclosure Letter (Not required at login but for legal report and disbursement respectively)
  • Property Documents (Transaction Specific).
  • Vernacular, OVD (Original Verified documents) Affidavit, If Required
  • Processing Fee Cheque in Favor of Axis Bank for Login (As per current grid)
  • Eligibility sheet as per product (highly recommended but not mandatory at login stage.)

Frequently Asked Questions

The EMI for a ₹45 lakh loan is affected by many factors, including the loan term and interest rate. Hence, we suggest that you use our online Home Loan EMI calculator to get an accurate EMI estimate based on your specific loan requirements.

Determining the salary requirement for a ₹45 lakh loan involves multiple considerations. However, for a quick and accurate calculation, you can use our Home Loan eligibility calculator.