Plan your Axis Bank home loan better with our comprehensive EMI calculator. Compare Axis Bank's exclusive home loan schemes like Regular, Power, and Shubh Aarambh with accurate monthly installment estimates and amortization schedules.
Axis Bank offers a variety of home loan products tailored to different customer needs. Understand the features of each to choose the right one for you.
Axis Bank's standard home loan product with competitive interest rates and digital processing:
An overdraft facility linked to your home loan for greater financial flexibility:
Special home loan scheme for first-time home buyers with unique benefits:
Adjust the parameters below to calculate your Axis Bank home loan EMI and get a detailed breakdown of your repayment schedule.
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Discover the unique advantages of choosing Axis Bank for your home loan needs.
Axis Bank offers an EMI holiday option for under-construction properties. This allows you to pay only the interest component until your property is ready for possession, after which the regular EMIs start. This feature helps reduce your financial burden during the construction phase, especially if you're paying rent simultaneously. The EMI holiday can be availed for up to 36 months depending on the project completion timeline.
Axis Bank's unique Shubh Aarambh home loan offers an industry-first benefit: a partial EMI waiver. Under this scheme, 12 EMIs are waived over the loan tenure - 4 EMIs each after the 4th, 8th, and 12th year of regular repayments. This can result in savings of up to ₹3-4 lakhs depending on your loan amount. This innovative feature is especially beneficial for first-time homebuyers looking for long-term financial relief.
Axis Bank has fully digitized its home loan application process with its 'Express Home Loans' facility. You can apply online, upload documents digitally, and receive in-principle approval within minutes. The bank's proprietary verification system speeds up document verification and credit assessment. For existing Axis Bank customers, the process is even faster with pre-approved offers and minimal documentation. The entire process from application to disbursement can be completed in as little as 3 days.
Axis Bank's Shubh Aarambh Home Loan is a pioneering product that offers an EMI waiver benefit: 12 EMIs are waived over the loan tenure - 4 EMIs each after the 4th, 8th, and 12th year of regular repayments. This can lead to significant savings over the loan tenure. For example, on a ₹30 lakh loan with a 20-year tenure, you could save approximately ₹3.5 lakhs. To be eligible, you must be a first-time home buyer, take a loan of up to ₹30 lakhs with a minimum tenure of 20 years, and maintain a good repayment record. The EMI waiver is provided as a principal reduction at specified intervals, effectively reducing your outstanding loan amount and saving you interest.
Axis Bank Power Home Loan combines a term loan with an overdraft facility, providing greater financial flexibility. Key differences include: (1) Interest calculation - With Power Home Loan, interest is calculated only on the utilized amount, not the entire sanctioned amount. (2) Liquidity access - You can withdraw and deposit funds multiple times without prepayment penalties, unlike a regular home loan. (3) Interest savings - By parking your surplus funds in the Power Home Loan account, you can reduce your interest burden without formally prepaying the loan. (4) Convenience - The facility is linked to your savings account and can be accessed via net banking, mobile banking, or debit card. The interest rate is typically 0.10-0.15% higher than regular home loans, but the potential interest savings often outweigh this difference for borrowers with irregular income patterns or surplus funds.
For an Axis Bank home loan, you'll need these documents: (1) Identity proof: Aadhaar, PAN card, passport, voter ID, or driving license. (2) Address proof: Utility bills, passport, or rental agreement. (3) Income documents: For salaried individuals - Latest 3 months' salary slips, Form 16 for the last 2 years, bank statements showing salary credits for 6 months; For self-employed - Income tax returns for the last 2 years, profit & loss account and balance sheet, bank statements for 6 months, business proof documents. (4) Property documents: Sale deed/agreement to sell, property tax receipts, approved building plan, NOC from builder/society. (5) Employment details: Appointment letter, business continuity proof for self-employed. Axis Bank offers a document upload feature through their website and mobile app. Existing Axis Bank customers may qualify for reduced documentation with their Express Home Loan service.
Yes, you can prepay your Axis Bank home loan partially or fully. For floating rate home loans, Axis Bank does not charge any prepayment penalty, regardless of the source of funds, in line with RBI guidelines. For fixed-rate home loans, a prepayment penalty of 2% of the prepaid amount may apply if you're prepaying through refinancing from another bank. If you're prepaying from your own sources, no penalty is charged. With Axis Bank Power Home Loan, you don't need to make formal prepayments - simply deposit your surplus funds in the linked account to reduce the interest calculation. Partial prepayments are accepted with a minimum amount of 1 EMI value. After prepayment, you can choose to either reduce your EMI amount (keeping the tenure same) or reduce your loan tenure (keeping the EMI same).
Axis Bank typically follows the FOIR (Fixed Obligation to Income Ratio) principle to determine your home loan eligibility. Your EMI and other loan obligations should not exceed 50-55% of your net monthly income. As a general guideline, you may be eligible for a home loan of approximately 60 times your monthly income, depending on your credit score, age, employment stability, and existing debts. For example, if your monthly income is ₹50,000, you might qualify for a loan of around ₹30 lakhs. Axis Bank also considers your spouse's income for joint applications, potentially increasing your loan eligibility. For accurate assessment, you can use the eligibility calculator on Axis Bank's website or visit their branch. The bank also offers higher loan eligibility for certain professions like doctors, chartered accountants, and company secretaries under their Professional Loans segment.
Axis Bank's EMI holiday option (also called pre-EMI interest or construction-linked plan) is designed for customers purchasing under-construction properties. Under this option, during the construction period: (1) You pay only the interest component on the disbursed amount (not the full EMI). (2) Regular EMIs (principal + interest) begin only after the complete disbursement of the loan or after you take possession, whichever is earlier. (3) The EMI holiday period can extend up to 36 months, depending on the project's construction timeline. This option helps reduce your financial burden during the construction phase, especially if you're paying rent simultaneously. However, the total interest paid over the loan tenure may be higher compared to starting full EMIs immediately. Axis Bank's loan officers can provide customized illustrations comparing both options based on your specific situation.