Home Loan EMI Calculator

Loan Amount

Loan Amount in between 1L to 5Cr

Tenure (months)

Tenure Months in between 12 to 360

Interest Rate

Interest Rate in between 6 to 18

Equated Monthly Installment (EMI) will be1,42,922

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Axis Bank Home Loans

Fulfil your dream of owning a home with Axis Bank Home Loans, offering housing loans starting at ₹3 lakh. Axis Bank Home Loans come with a host of benefits, including affordable EMIs that allow you to spread out payments over a longer tenure, attractive interest rates, an easy application process, doorstep service, and more.

Home Loan Details

Loan Amount	Up to ₹ 5 crore
Loan Tenure	Up to 30 years
Floating Interest Rate	8.75% - 9.15%
Fixed Interest Rate	14%
Processing Fee	Up to 1% of the loan amount + GST (minimum ₹ 10,000)

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Features and Benefits

Attractive interest rates
Enjoy affordable Home Loans with competitive interest rates to make your dream home a reality.
Hassle-free loan balance transfer
Transfer your existing Home Loan to Axis Bank, without any hassles.
Doorstep service
We value your time and are pleased to provide doorstep service for your convenience.
No prepayment charges
Pay off your loan early without any additional prepayment charges (for floating rate loans).
Transparent processing
Experience quick and transparent loan processing for hassle-free approval.
Flexible tenure
Repay your Home Loan with smaller EMIs over a longer tenure, depending on your financial needs.

Tips to keep in mind while applying for a Home Loan

Before applying for a Home Loan, consider the following tips to improve your chances of approval and make informed decisions:

Tip 1
Evaluate affordability: Calculate how much you can afford in monthly EMIs, keeping your existing financial commitments in mind, such as other loans and credit card debts. Most banks allow EMIs to be up to 40% of your net monthly income.
Tip 2
Stick to your eligibility: Applying for a loan higher than your eligibility may lead to rejection. Once you know your eligible loan amount, plan your down payment accordingly and stay within your limits.
Tip 3
Leverage existing relationships: If you already have a savings or salary account with the bank, it might simplify the loan process. The bank would already have your financial records, easing the KYC process.
Tip 4
Maintain a good credit score: Banks often favour customers with strong credit history and timely repayment records. A good score may offer benefits like faster approvals, favourable repayment options, or even reduced processing fees.
Tip 5
Check property clearances: Ensure the property you are purchasing has all necessary regulatory and environmental clearances. You can also check if the property is on your bank's approved list to fast-track your loan approval.
Tip 6
Consider a joint loan if needed: If your income doesn’t meet the required amount for the desired loan, you can apply for a joint loan with a family member. Opting for a longer repayment tenure can also reduce your EMI burden, making the loan more manageable.

Eligibility criteria for Home Loans

Salaried individuals eligible for Home Loans

For salaried individuals, securing a Home Loan requires a stable employment history, typically within government sectors or reputed companies.
Applicants must be over 21 and under 65 years or the age of retirement by the loan's end.
Ensure all required documents for the home loan, including employment verification and financial stability proofs, are thoroughly checked, as they are key to a successful application.

Professionals eligible for Home Loans

Professional applicants, such as doctors, lawyers, chartered accountants, or management consultants etc., are welcome to apply for a Home Loan.
The age limit is between 21 and 65 years.
The Home Loan documents list extends to professional qualifications and proof of practice for these applicants to ensure credibility and a reliable repayment structure.

Self-employed individuals eligible for Home Loans

Self-employed business owners and entrepreneurs looking to invest in property must ensure comprehensive documents required for a Home Loan application, showcasing consistent income through tax returns.
Eligibility depends on being over 21 years at loan initiation and under 65 years at loan closure, with a strong financial record to support the application.

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Home Loan Fees and Charges

Depending on the type of housing loan you apply for, you will have to pay various charges, including:

1. Processing fee: 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.

2. Prepayment charges: If you repay the loan before the tenure ends, a prepayment penalty applies.

3. Conversion fee: Applicable if you switch to a different loan scheme to reduce interest rates.

4. Home insurance: Required throughout the loan tenure. The premium for the insurance policy is paid directly to the insurance company.

5. Cheque dishonour charges: If your cheque bounces due to insufficient funds, dishonour charges will be levied.

6. Default charges: Failure to pay EMIs on time will result in penalty charges.

7. Change in loan term: Nominal charges apply if you change your loan tenure after the loan is approved.

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Do’s and Don’ts while applying for a Home Loan

Do’s

Research thoroughly: Study the property price, builder's credibility, project clearances, and Home Loan details such as interest rates and fees.
Know all expenses: Understand and plan for costs like down payment, processing fees, stamp duty, and registration fees before applying.
Prepare all documents: Ensure salary slips, Income Tax Returns (ITR), property agreements, and registration documents are ready before applying.
Improve credit history: Build a strong credit score over time for better Home Loan offers and lower interest rates.

Don’ts

Avoid applying on multiple aggregator sites: It can show you as "loan-hungry," reducing the chances of approval.
Don’t take too many loans: Avoid excessive borrowing, like personal or auto loans, before applying for a Home Loan, as it impacts loan eligibility.
Avoid maxing out credit cards: High credit utilisation or delayed payments can negatively affect your credit score and eligibility.
Don’t take oversized loans: Choose an affordable loan amount that you can repay comfortably to avoid financial strain.

How to Apply for a Home Loan

STEP 1

Complete the housing loan application with accurate personal, employment, and financial details.

STEP 2

Remit the processing fee to commence the validation of your application.

STEP 3

Utilise the online platform to submit documents for a home loan application.

STEP 4

Receive a detailed sanction letter post-approval outlining the loan specifics.

STEP 5

Undergo a property inspection for legal and valuation compliance.

STEP 6

The loan is disbursed on positive verification, enabling your property investment.

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Application Process

Before you apply for a home loan, you can check your home loan eligibility here.

Also, just to get an estimate of your loan amount you can use Axis Bank’s EMI Calculator for home loans.

Please be aware that merely submitting the required documents does not guarantee loan approval, which will depend on meeting the bank's criteria. Axis Bank does not take responsibility for the accuracy of the images used. Agents may be utilized for the sales, marketing, and promotion of its products. The RBI does not maintain personal accounts for individuals or public trusts. Beware of fraudulent offers made via phone or email in the name of the RBI. A Home Loan not only helps you purchase residential property but also helps in asset building and provides tax benefits. Typically, you need to pay up to 20% of the property’s cost from your own funds. The loan amount can be repaid over a chosen period, with both the principal and interest payments qualifying for tax deductions under the Income Tax Act.

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Types of Home Loans

Shubh Aarambh Home Loan

Axis Bank's Shubh Aarambh Home Loan service provides quick and easy loan disbursals with minimum documentation.

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Home Loan Balance Transfer

Optimise your finances with Axis Bank's Home Loan Balance Transfer feature.

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Fast Forward Home Loan

Dreaming of owning your home? Make it a reality with the Fast Forward Home Loan which provides quick and easy loan disbursals with minimum documentation.

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Asha Home Loan

Axis Bank’s Asha Home Loan offers loan amount up to ₹ 35 Lakhs at an affordable interest rate.

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Top-Up Home Loan

As an Axis Bank home loan customer, you can avail extra finance of upto ₹ 50 Lakhs against the mortgage of your property with our Top-Up Loan.

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Super Saver Home Loan

Super Saver Home Loan offers a unique financing solution that helps to save on the total interest payable on your home loan with us.

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QuikPay Home Loan

QuikPay Home Loan is a unique financing solution that helps you repay higher principal earlier in the loan tenure.

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24x7 Home Loan Top Up

Having taken up a loan, you sometimes require another helping hand to fulfil your plans for a need that has cropped up now.

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Interest Rates

Interest Rates on Home Loans

Axis Bank offers competitive Housing Loan interest rates, ensuring affordability across professions.

Cibil Score	Salaried	Self-employed
751 and above	8.75% p.a.	9.10% p.a.

Standard Home Loan interest rates

	No Hit*	<700	700 to 750	751 and above
Vanilla Home Loan (Salaried Profile)	9.30%	9.65%	9.50%	8.75%

*No Credit History

Fixed Home Loan interest rates

Fixed rates loans - All other Home Loan Product Variants @ 14.00% p.a

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Home Loan in Your City

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Home Loan FAQs

What is home loan EMI?

A Home Loan Equated Monthly Instalment (EMI) is your regular payment towards the borrowed amount, divided into principal and interest components. Calculated from the loan's principal, interest rate, and tenure, the EMI ensures a steady reduction in your loan balance. For seamless management, it's deducted from your savings account. Adjusting the EMI or loan tenure may be necessary if interest rates change, ensuring consistency in repayment when you apply for a Home Loan.

What are the different types of home loans?

Various Home Loan options are available to suit different housing needs. These include:

Standard Home Loans for buying a residence.
Land Purchase Loans for acquiring a plot.
Construction Loans for building a home.
Home Improvement Loans for renovation projects.
Top-up Loans for additional funding on existing loans.
Balance Transfer Loans to switch lenders for better terms.
Pre-approved Home Loans for quicker loan processing.

How to apply for a Home Loan at Axis Bank?

Initiate your Axis Bank Home Loan application by completing the form online or at any Axis Bank branch. Submit your application along with the requisite KYC documentation. Post sanction, provide the necessary property documents. Following document verification and property appraisal, the loan approval and disbursement occurs within 15 days, subject to accurate and complete documentation.

Are there any advantages in applying for a home loan online?

Applying for a Home Loan online offers significant benefits, streamlining the application process. This saves time, simplifies comparisons of loan options, and calculates eligibility and EMIs instantly. The digital platform ensures a smooth customer experience, removing the need to visit a branch and facilitating a hassle-free and efficient loan application journey.

What are the tax benefits associated with a home loan?

Principal repayment qualifies for a deduction up to ₹1.5 lakh under Section 80C. Interest payment offers a deduction up to ₹2 lakh per annum under Section 24(b). Additional deductions up to ₹1.5 lakh for loans under the affordable housing segment as per Section 80EEA, subject to certain conditions. Do note that Section 80EEA benefits are not applicable for home loans taken post March 31, 2022.

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