Axis Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating Rate of Interest : 11.75 % to 13.75 % p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 1 years to 20 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing  Fee 1%  depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Axis Bank

Axis Bank is the third largest of the private-sector banks in India. Axis bank offering a comprehensive suite of financial products. The Axis Bank has its head office in Mumbai and it’s registered office in Ahmedabad. Axis bank has 3300 branches, 13,003 ATMs, and nine international offices. As of 30 June, 2016 30.81% shares are owned by promoters & promoter group and remaining 69.19% shares are owned by Mutual funds Institutions, FIIs, Financial Institutions, Insurance companies, corporate bodies & individual investors among others.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Minimum income required Rs.25,000 per month
EMIs of other loans lower your eligibility
Pay off your credit card bills
Choose longer tenure loan up to 20 years

Rate of Interest and Other Charges for Loan Against Property are following

Rate Of Interest:

Sno.

Type of Loan

Applicable Pricing For PSL cases

Applicable pricing for Non-PSL cases

1

LAP ( Income Based , GTP,GPR) 

MCLR + 2.85%= 11.0% p.a.

MCLR + 3.10% = 11.25% p.a.

2

LAP ( Surrogates- Banking, Repayment Based)

MCLR + 3.10%= 11.25% p.a.

MCLR + 3.35% = 11.50% p.a.

3

LAP Overdraft Against Property Loans-Residential & Commercial

MCLR + 3.85% = 12% p.a.

MCLR + 3.95% = 12.10% p.a.

Existing Loan take over or New Loan

Here are some points  for why you should choose Axis bank Loan Against Property

  • Here you will get Attractive interest rates
  • Here Balance Transfer facility available with additional finance
  • Doorstep services
  • Provide Loan against property – Residential
  • Provide Loan against property – Commercial
  • Loan for purchase of commercial property
  • Take-over of existing loan with additional refinance (Balance Transfer)

 

Features of Loan

Features and benefits of Axis bank Loan Against Property

  • The loan comes at an attractive rate of interest
  • Available for both residential and commercial properties
  • Loans granted for purchase of commercial property under the scheme
  • Minimal documentation
  • Lease rental discounting available
  • Take-over of existing loans along with the option of refinancing
  • Flexible tenure period
  • Can be applied for online
  • Doorstep services
  • Easy and hassle free application process

Documents required for Axis Bank  Loan against Property

The following documents are required for Axis Bank Loan against property:

For Salaried Individuals:

  • Proof of Residence(any of the following documents will be accepted)
  1. Ration Card
  2. Telephone Bill
  3. Electricity Bill
  4. Voter’s ID Card
  • Proof Of Identity(any of the following documents will be accepted)
  1. Voter’s Card
  2. Driver’s License
  3. employer’s Card
  • Bank Statement / Passbook of last 6 months
  • Salary slip of last 6 months.
  • Form 16 for previous 2 years.
  • Legal documents of the concerned property.

For Self-employed individuals

  • Certified financial statement of last 3 years.
  • Proof of Residence (any of the following documents will be accepted)
  1. Ration Card
  2. Telephone Bill
  3. Electricity Bill
  4. Voters Card
  • Proof of Identity (any of the following documents will be accepted)
  1. Voter’s Card
  2. Driver License
  3. Employer’s Card
  • Latest Bank Statement or Passbook
  • Copies of all property documents which you want to use as collateral.