Home Loan

“Home Loan” – A Gateway to my Dream Home

Willing to buy your own house? Looking for an apartment in your desired location? Struggling hard to make your own home? Now you need not worry anymore when Home Loan is there to become your gateway to your dream home. Yes, with the best Home Loans Rates you can fulfill all your dreams of buying a new home.

What is Home Loan?

A loan facility which is offered to customers for meeting housing needs such as purchase of a new home, construction of a new home, purchase of land or plot for building a house is known as “HOME LOAN”.
Home Loan also known as Housing Loan, is a lump sum amount of money borrowed from financial institution to buy a house. As per the interest rate charged by the bank, consumer has to repay the loan amount in the form of EMIs for the desired tenure.
Having a proper house is a basic necessity of people nowadays. Just like food & clothing, having a house is your right and is a basic need. To own a house is one of the main status of success among middle class folk these days. The rising price of property and expensive construction charges make it difficult to buy your own house. But with the option of Home Loan your problems can be solved easily.
“Make your housing dream, turn into reality with the awesome facility of Home Loan.”

  •      Attractive rate of interest
  •      ICICI’s list of approved home loans make your dreams come true
  •      Best home loan rates
  •      Extended home loan tenures
  •      Availability of top-up loans
  •     Pick up of documents at doorstep
  •      Complete transparent process
  •      Easy loan disbursal
  •      Easy repayment options
  •      Home loan insurance
Check your eligibility and fill in the Car Loan Application FormCompare various Car Loan options, and apply for the best optionAfter successful submission of the application get an instant e-approval

Advantages of choosing a Home Loan

  • Low Interest Rates – The lending institution offers home loan at reasonable and attractive interest rates, to make it affordable for you.
  • Loan Tenure – A maximum of 30 years loan tenure is offered for availing home loan.
  • Huge Loan Amount – There is a limit in loan amount but it ranges between Rs. 2 lakhs to Rs. 200 Lakhs (depending on applicant’s eligibility, repayment capacity and income)
  • Tax Benefits – The applicants can avail tax benefits under Section 80CCE of the Income Tax Act, 1961. Once all prescribed conditions are met, this benefit can be availed.
  • Capital Appreciation – The value of your property purchased or invested may always increase. Hence appreciation for your investment can be seen within few years.
  • Great opportunity for middle-class – Home loan creates an opportunity for the middle-class community to have a home of their own.

Categories of Home Loans in India

The House Loan opens doors for new avenues. When it comes to Home Loans there comes various categories for the same:

  • Home Purchase Loan – These are designed for consumers who are looking to purchase a house or flat. The loan is provided at both fixed and floating interests. This Loan is used when the property is purchased from another owner.
  • Home Construction Loan – These are designed for consumers who are seeking to construct their own house or property for the first time. In this case the borrower must be pre-planned with the cost amount that will incur and apply for the loan accordingly.
  • Land Purchase/Plot Loans – These are specifically designed to meet the needs of consumer who need to buy a piece of land or plot. It is provided for both investment purpose and also residential or housing purpose.
  • Home Improvement Loans – These loans are availed by consumers who are willing to renovate or make repairs to their current home. It may include painting work, repairing, electrical and plumbing work, etc.
  • Home Conversion Loans – These loans are designed for consumers who wish to relocate into another home with the existing loan. There is no need of paying loan for the previous home.
  • Home Extension Loans – These loans are offered to consumers who wish to renovate/extend their existing house/property. This includes modification in the infrastructure of the house.
  • Bridged Loans – These are taken by owners of a residential property. It helps in building a space between an old house and a newly purchased plot.
  • Stamp Duty Loans – In this case, stamp duty is paid with the price of the house. A specific amount of registration fee must also be paid, if the property’s value comes to ten lakhs.

Eligibility Criteria for applying for Axis Bank Home loan

Your application for loan can be approved once you meet the eligibility criteria. The applicant must satisfy the following conditions to be eligible for the home loan. Below mentioned are the home loan eligibility conditions:

  1. Salaried Individuals
  • Applicants should be above 24 years and between 60 years at the time maturity
  • Individuals in permanent service in the Government or reputed companies
  1. Professionals
  • Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply.
  • Applicants above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity meet our housing loan criteria.
  1. Self-Employed Individuals
  • Any individual filing income tax returns can apply
  • Applicants should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Is Home Loan the best choice for me?

If you are facing cash crunch in fulfilling your dreams then where will you go? If you are worried or anxious because you don’t possess your own house then what next? The solution to all your queries is just 2 words i.e. Home Loan.
It takes whole lifespan of an individual for making his own house or purchasing his dream home, but through easy and fast process of housing loan one can easily buy his own house and fulfill his dream.
A Home Loan is a secured loan with flexible repayment options and interest rates starting from 8.8% p a. It is a quick and hassle-free process with Loanqubes. So, if you are planning for your dream home the best option for you is Home Loan.

Am I Eligible for Home Loan?

Home Loans are easily provided by all the banking institutions once you meet up with the necessary requirements and needs. You can easily apply online for home loan.
The eligibility criteria to get an instant approval online for Home Loans are mentioned in the table below. Please go through home loan eligibility conditions before applying online:

TYPES OF FEESCHARGES APPLICABLE
Interest Rate12.75% to 15.50%
Processing FeesUp to Rs.5,310
Repayment1 – 7 years
Guarantor RequirementNo
Pre-Closure ChargesPreclosure permitted after 18 months. No preclosure charges thereafter.
Overdue EMI Interest2% per month
Cheque/ECS swapping chargesRs. 500/- per instance
LPG/CNG NOC/Other Special NOCRs. 500/- per instance
Amortization Schedule ChargesCustomer can download the schedule from E-Delight free of cost
Rs. 200/- per schedule would be charged at the customer service desk
Amortization Schedule ChargesRs. 2,250/- per NOC
CIBIL Charges (only on request)Rs. 50/-
Car Valuation /Asset Verification Charges*Rs. 500 per case

Procedure for applying for Axis BankHome Loan Online

One can apply online for Home loan through our website with few simple steps by registering online:

  •    Enter the required details including your employment type, name, e-mail address, city you are currently living in, type of business, annual income, required loan amount, and mobile number.
  •    Provide your consent.
  •    Choose Axis Bank as your Business Loan partner.
  •     Fill in the form by providing some basic details like your gender, marital status, PAN Number, and others and click proceed.

For further queries you can go through www.axisbank.com

Know more about Axis Bank Home Loans – FAQs

Q. How much loan amount can I avail?

A. To calculate the borrowing limit, one can combine the earnings of oneself and the spouse or children. The combined income will then decide the borrowing limit. Minimum limit is INR 300,000 Maximum limit depends on the earnings combined For loan up to INR 2 Million – 15% of the property value in market For loan above INR 2 Million to up to INR 7.5 Million – 20% of the property value in market For loan higher than INR 7.5 Million – 25% of the property value in market

Q. What are the different options available for making EMI payments? Is there any which is preferable?

A. You may repay your Home Loan in any of the following two ways:

  • Standing Instruction (SI): You can use this mode if you have an Axis bank Savings, Salary, or Current Account. You can also use this option if you wish to open a Savings account with Axis Bank. Your EMI will debit automatically at the end of the monthly cycle.
  • National Automated Clearing House (NACH): If you have a non-Axis Bank Account then this mode is useful for you. In this mode, your EMIs will debit automatically from you non-axis account.
Q. Does Axis Bank allows home loan for home improvements or home extension?

A. Yes.

Q. What is the turnaround time for a decision on the Axis Bank Home Loan application?

A. The decision of the Axis Bank as on whether the loan is sanctioned or not depends on the eligibility, loan amount, Home Loan type and several other factors. The process is however quick and transparent.

Q. Can the applicant make part-payments of their Axis Bank Home Loan?

A. Yes

QUICK OVERVIEW
Apply online at interest rate starting @8.80% p.a.
Free doorstep documents pick-up service
Quick approval and disbursal rate
Competitive and transparent process
Multiple Home Loan Options available to choose from


Apply Now