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Key Features of Axis Bank Mortgage Loans

  • Loan Amount: You can avail a loan ranging from ₹2 lakh to ₹5 crore, depending on your eligibility, property value, and repayment capacity.
  • Competitive Interest Rates: Interest rates start at 9% per annum (floating rate), subject to change based on market conditions and borrower profile. Fixed-rate options may also be available.
  • Flexible Tenure: Loan repayment tenure can extend up to 20 years, allowing manageable EMIs (Equated Monthly Installments).
  • Loan Against Property Types: Available for both residential and commercial properties, including self-occupied, rented, or vacant properties.
  • Purpose Flexibility: Funds can be used for various purposes, such as business expansion, education, medical expenses, or personal needs, without restrictions.
  • Balance Transfer Facility: Option to transfer existing high-interest mortgage loans from other banks to Axis Bank for lower rates and better terms, often with additional top-up loans.
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    • Interest Rates: Competitive rates starting from 8.75% p.a. for home loans (floating rates linked to RBI’s repo rate). Fixed and floating rate options available. Special rates for women borrowers and PMAY applicants (e.g., 6.90%–7.30% p.a. for PMAY loans up to ₹9 lakh). Rates for LAP and top-up loans vary based on credit profile and loan type.
    • Eligibility and Documentation: Available for salaried, self-employed professionals, and non-professionals aged 21–65 years. Minimum income requirements: ₹10,000 p.m. for salaried, ₹1.2 lakh p.a. for self-employed. Simplified documentation, including KYC, income proof (e.g., salary slips, ITR), and property documents. Higher eligibility for joint applications (up to four co-applicants).
    • Processing and Charges: Processing fees: Up to 0.50% of the loan amount for home loans (plus GST), higher for LAP (up to 1%) and top-up loans. No prepayment penalty on floating-rate home loans; fixed-rate loans may incur charges (e.g., 2% plus GST for LAP prepayment). Late payment fees: 2%–3% per month on overdue EMIs.
    • Special Features: Instant Home loans: Digital sanction within minutes for pre-approved customers, up to ₹3 crore. Step-Up EMI: Higher EMIs as income grows, ideal for young professionals. Express Home Loan: Approval within 72 hours for eligible applicants. PMAY Subsidy: Interest subsidy of 3%–6.5% for eligible borrowers, reducing EMIs burden. Overdraft Facility: For LAP, allowing flexible withdrawals and repayments to reduce interest costs.
    • Digital and Customer Support: Online application and tracking via Axis Bank’s website or mobile app. Tools like EMI Calculator, eligibility calculators, and pre-qualified offer checks. Dedicated relationship managers and 24/7 customer support.
    • Tax Benefits: Home loans: Deductions up to ₹1.5 lakh on principal (Section 80C) and ₹2 lakh on interest (Section 24) annually. LAP for business: Interest paid is deductible as a business expense.
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Benefits of Axis Bank Mortgage Loans

  • High Loan Amounts: Access loans from ₹2 lakh up to ₹5 crore, providing substantial funds for major expenses like business expansion, education, or medical needs, based on property value and eligibility.
  • Competitive Interest Rates: Starting at 9% p.a. (floating rate), the rates are relatively affordable, helping reduce the overall cost of borrowing. Fixed-rate options offer stability if preferred.
  • Long Repayment Tenure: With tenures up to 20 years, borrowers can opt for smaller EMIs, making repayment manageable without straining monthly finances.
  • Flexible Usage: Funds can be used for any purpose—personal or professional—such as debt consolidation, wedding expenses, or business investments, with no end-use restrictions.
  • Diverse Property Types Accepted: Loans are available against residential or commercial properties, whether self-occupied, rented, or vacant, increasing accessibility.
    • Interest Rates: Competitive rates starting from 8.75% p.a. for home loans .Fixed and floating rate options available. Special rates for women borrowers and PMAY applicants.
    • Eligibility and Documentation: Available for salaried, self-employed professionals, and non-professionals aged 21–65 years. Minimum income requirements: ₹10,000 p.m. for salaried, ₹1.2 lakh p.a. for self-employed.
    • Processing and Charges: Processing fees: Up to 0.50% of the loan amount for home loans, higher for LAP and top-up loans. No prepayment penalty on floating-rate home loans; fixed-rate loans may incur charges.
    • Flexible Loan Options: Multiple products like home loans, LAP, top-up loans, and balance transfers allow customization for personal or professional needs.
    • PMAY Subsidy for Affordable Housing: Eligible borrowers under Pradhan Mantri Awas Yojana (EWS/LIG/MIG) can avail interest subsidies of 3%–6.5%, lowering EMI costs significantly.
    • Quick and Digital Processing: Instant Home Loan-Pre-approved offers with sanction in minutes for up to ₹3 crore. Express Home Loan-Approval within 72 hours for eligible applicants.
    • No Prepayment Penalty on Floating Rates: Floating-rate home loans can be prepaid fully or partially without charges, offering flexibility to reduce debt faster.
    • Enhanced Eligibility: Joint applications (up to four co-applicants) boost loan eligibility by combining incomes. Relaxed criteria for salaried and self-employed borrowers, with minimal income requirements.
    • Additional Features and Security: Balance transfer facility reduces interest costs by switching high-cost loans from other banks, with optional top-up funding.
    • Wide Accessibility: Available for salaried, self-employed professionals, and non-professionals, including NRIs. Loans for purchase, construction, renovation, or refinancing cater to varied property-related needs.
    • Digital and Customer Support: Online application and tracking via Axis Bank’s website or mobile app. Tools like EMI Calculator, eligibility calculators, and pre-qualified offer checks.
    • Tax Benefits: Home loans: Deductions up to ₹1.5 lakh on principal (Section 80C) and ₹2 lakh on interest (Section 24) annually. LAP for business: Interest paid is deductible as a business expense.
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How to Apply for Axis Bank Mortgage Loans

  • Online Application Process:
    • Visit the Official Website: Go to www.axisbank.com and navigate to the "Loans" section, then select "Loan Against Property" or "Mortgage Loan."
    • Check Eligibility: Use the eligibility calculator (if available) by entering details like income, age, property type, and loan amount required. This helps estimate the loan you qualify for.
    • Fill the Application Form: Click on the "Apply Now" button and provide personal details (name, contact info, address), employment details (salaried/self-employed, income), property details (type, location, value), and loan requirements (amount, tenure).
    • Upload Documents: Upload digital copies of required documents. Ensure files are clear and meet size requirements specified on the portal.
    • Submit Application: Review the form and submit it online. You’ll receive an application reference number to track the status.
    • Verification and Property Valuation: Axis Bank will contact you to verify details and schedule a property valuation. A bank representative may visit the property to assess its market value.
    • Loan Approval and Disbursal: Upon successful verification and credit appraisal, you’ll receive a loan offer with terms (interest rate, EMI, tenure). Sign the loan agreement, and the funds will be disbursed to your account, typically within a few days.
  • Offline Application Process:
    • Visit a Branch: Locate the nearest Axis Bank branch using the branch locator on their website. Meet a loan officer to discuss your requirements.
    • Complete Application Form: Fill out the physical Loan Against Property application form provided by the bank and submit it along with hard copies of required documents.
    • Property and Document Verification: The bank will verify your documents and conduct a property valuation, similar to the online process.
    • Loan Approval and Disbursal: After approval, you’ll sign the loan agreement, and the loan amount will be credited to your account.

Eligibility Criteria for Axis Bank Mortgage Loan

  • Age:
    • Minimum: 21 years at the time of loan application.
    • Maximum: 65 years at the time of loan maturity (for salaried and self-employed individuals). This ensures the loan is repaid before retirement or within productive working years.
  • Applicant Type:
    • Salaried Individuals: Employees working in government, public sector, or private sector organizations with stable income.
    • Self-Employed Individuals: Professionals (doctors, lawyers, CAs, etc.) or non-professionals (business owners, traders, etc.) with a consistent income stream.
  • Nationality and Residency:
    • Applicants must be residents of India.
    • Non-resident Indians (NRIs) may have separate eligibility terms, which should be confirmed directly with the bank.
  • Minimum Income:
    • Salaried: Typically, a minimum monthly income of ₹25,000–₹30,000 (varies by city and profile).
    • Self-Employed: Annual income reflected in ITR (often ₹2–3 lakh p.a. minimum) to demonstrate repayment capacity.
    • Higher income improves eligibility for larger loan amounts.
  • Credit Score:
    • A good credit score (preferably 750 or above) is crucial for approval and securing favorable interest rates.
    • A lower score may lead to rejection or higher rates.
  • Property Ownership:
    • The applicant must own a residential or commercial property (self-occupied, rented, or vacant) with a clear and marketable title.
    • The property should be free of legal disputes and approved by relevant authorities.
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Documents Required for Axis Bank Mortgage Loan

  • KYC Documents (Know Your Customer):
    Identity Proof (any one):
  • Aadhaar Card
  • PAN Card (mandatory for credit assessment)
  • Passport
  • Voter ID
  • Driving License

    • Photographs:
  • Recent passport-size photographs (usually 2–3)
  • Income Proof:
    For Salaried Individuals:
  • Salary slips for the last 3 months
  • Bank statements reflecting salary credits for the last 6 months
  • Form 16 or Income Tax Returns (ITR) for the last 1–2 years
  • Appointment letter or employment proof (if required)
  • Property Documents:
  • Title deed or sale deed of the property
  • Agreement to sell or sale agreement (if applicable)
  • Property registration documents

Factors of Axis Bank Mortgage Loan

  • Loan Amount and Repayment Capacity:
    - Loan Range: ₹2 lakh to ₹5 crore, depending on property value, income, and credit profile.
    - Repayment Capacity: Determined by your Debt-to-Income (DTI) ratio. Lower existing liabilities (other loans, credit card dues) increase eligibility for higher amounts.
    - Tenure: Up to 20 years, which impacts EMI affordability. Longer tenures require sufficient income to cover payments until maturity.
  • Creditworthiness:
    - Credit History: A clean repayment record on previous loans or credit cards is vital. Defaults or late payments can lead to rejection.
    - Co-Applicant: Adding a co-applicant with stable income can improve creditworthiness and loan eligibility.
  • Purpose of Loan:
    - While Axis Bank allows flexible use (business, education, medical, personal needs), the stated purpose may influence internal risk assessment.
    - For example, loans for verifiable needs (e.g., business expansion) may be viewed favorably.
  • Bank’s Internal Policies:
    - Risk Assessment: Axis Bank evaluates your profile (income stability, job type, business nature) and property (location, marketability) to assess risk.
    - Loan-to-Value (LTV) Ratio: The bank caps the loan at a percentage of the property’s value (e.g., 50%–65%) to mitigate risk.
    - Processing Fee and Charges: Willingness to pay the processing fee and other charges (valuation, legal verification) is a factor in moving the application forward.

Frequently Asked Questions (FAQs)

What is a Loan Against Property (LAP) offered by Axis Bank?
A Loan Against Property is a secured loan where you pledge your residential or commercial property to borrow funds. Axis Bank offers this loan for personal or business needs, such as education, medical expenses, or business expansion, with amounts ranging from ₹2 lakh to ₹5 crore.
Who is eligible for an Axis Bank mortgage loan?
Age: 21 to 65 years (at loan maturity)
Applicant Type: Salaried individuals (government, public, or private sector) or self-employed individuals (professionals like doctors/CAs or non-professionals like business owners)
Income: Stable income (minimum ₹25,000–₹30,000 monthly for salaried, ₹2–3 lakh p.a. for self-employed)
Property: Must own a residential or commercial property with a clear title
Credit Score: Preferably 750 or above for better approval chances
What types of properties can be pledged for the loan?
Residential properties (houses, flats) or commercial properties (shops, offices), whether self-occupied, rented, or vacant. The property must have a clear and marketable title and meet Axis Bank’s valuation criteria.
What is the loan amount I can get?
You can borrow between ₹2 lakh and ₹5 crore, depending on:
  • Property market value (loan typically 50%–65% of value)
  • Your income and repayment capacity
  • Credit profile and existing liabilities
What is the interest rate for Axis Bank’s mortgage loan?
Interest rates start at 9% per annum (floating rate), subject to market conditions, credit score, and borrower profile. Fixed-rate options may be available. Check www.axisbank.com for current rates or contact customer care at 1860-419-5555.
What is the repayment tenure?
The loan tenure can extend up to 20 years, allowing affordable EMIs. The exact tenure depends on your age, income, and loan amount.
What documents are required to apply?
KYC: Identity proof (Aadhaar, PAN, passport), address proof (utility bill, Aadhaar), photographs
Income Proof:
- Salaried: Salary slips (3 months), bank statements (6 months), Form 16/ITR
- Self-Employed: ITR (2–3 years), financials, business proof (GST certificate, registration)
Property Documents: Title deed, sale agreement, approved plan, NOC, encumbrance certificate, property tax receipts
Application: Loan application form, processing fee payment
How can I apply for the loan?
Online: Visit www.axisbank.com, fill the application form, upload documents, and submit. Track status using the reference number
Offline: Visit an Axis Bank branch, submit the form and documents, and follow up with the loan officer. The bank will verify details and conduct property valuation before approval
How long does it take to get the loan approved?
Typically, 7–15 working days, depending on document verification, property valuation, and credit appraisal. Incomplete documents may cause delays.
Can I use the loan for any purpose?
Yes, the loan is flexible and can be used for personal needs (e.g., education, marriage, medical emergencies) or business purposes (e.g., expansion, working capital).
Are there any tax benefits on a mortgage loan?
Yes, you may claim:
  • Interest deduction under Section 24 (up to ₹2 lakh p.a. for self-occupied property)
  • Principal repayment under Section 80C (up to ₹1.5 lakh p.a.), subject to conditions
Consult a tax advisor for eligibility, as benefits depend on property use and loan purpose.
What are the processing fees and other charges?
Processing Fee: Usually 0.5%–1% of the loan amount (plus GST), subject to bank terms
Other Charges: Property valuation, legal verification, or documentation fees may apply. Prepayment/foreclosure charges may apply for fixed-rate loans (typically none for floating-rate loans for individuals). Confirm exact charges at the time of application.
Can I prepay or foreclose the loan?
Floating-Rate Loans: No prepayment or foreclosure charges for individual borrowers
Fixed-Rate Loans: Charges may apply (e.g., 2%–4% of outstanding amount). Verify terms with the bank.
Can I transfer my existing loan to Axis Bank?
Yes, Axis Bank offers a balance transfer facility to shift high-interest loans from other lenders. Benefits include lower rates and a possible top-up loan. Submit existing loan statements and property documents for processing.
What is a top-up loan, and am I eligible?
A top-up loan is additional funding over your existing mortgage loan for other needs. Eligibility depends on your repayment history, property value, and income. Contact Axis Bank for specific terms.

List of Axis Bank Mortgage Loans

  • Shubh Aarambh Home Loan
  • Asha Home Loan
  • Super Saver Home Loan
  • Fast Forward Home Loan
  • QuikPay Home Loan
  • Home Loan Balance Transfer
  • Top-Up Home Loan
  • Home Construction Loan
  • Home Composite Loan
  • Home Renovation Loan