Axis Bank Axis

Axis Bank is the third largest private sector bank in India. It offers the entire spectrum of financial services to customer segments covering Large MSME, Agriculture, Mid-Corporates and Retail Businesses. It is one of the first new generation private sector banks to began operations in 1994 in India. With a balance sheet size of Rs.3,83,245 crores as on 31st March 2014, Axis Bank has achieved consistent growth & stable asset quality with 5 year CAGR (2010-14) of 21% in Total Assets,19% in Total Deposits, 23% in Total Advances and 28% in Net Profit. CreditNation provides a platform to compare and apply for Credit Cards and Loans in Axis Bank. Get quick Approval and an attractive rate of interest on www.creditnation.in.

Personal Loan

Personal loan eligibility for Salaried Employees

Salaried Employees, employees of select MNCs, Private and Public limited companies, Government sector employees including Public Sector Undertakings and Central and Local bodies:

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 60 years
  • Minimum Net Monthly Income: Rs 15,000
  • Maximum loan available: Rs 15 lacs

Documents Required for Personal Loan:

  • Application form
  • Photograph
  • Age proof
  • ID proof
  • Income proof
  • Bank statement
  • Residence proof
  • Signature verification proof

Post Sanction / Pre Disbursement Documentation

  • Loan Agreement duly signed
  • Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs). Security Cheques required for SI and ECS

Qualification or registration proof required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers Documentary proofs required may vary from customer to customer

Personal loan Interest Rates & Charges

Interest Rates & Charges*
Rate of Interest 15.50% to 24%
Loan Processing Charges 1.50% to 2.00% + Service Tax as applicable
Cheque Bounce Charges Rs. 500 per cheque bounce + Service Tax as applicable
Cheque/ Instrument Swap charges Rs.500 per instance + Service Tax as applicable
Prepayment/ Forclosure Charges Nil
Default Interest Rate @24.00% per annum i.e 2% per month on the overdue installment
Duplicate Statement Issuance Charges


Duplicate Amortization Schedule Charges

Duplicate Interest Certificate

(Provisional/ Actual) issuance Charges
Rs 250 per instance + Service Tax as applicable

Rs 250 per instance + Service Tax as applicable

Rs 250 per instance + Service Tax as applicable
Cibil Report Issuance Charges

Stamp Duty Charges
Rs. 50/- per instance per set+ service tax as applicable Rs. 50/- per instance per set+ service tax as applicable

As per State Stamp Act As per State Stamp Act
Issuance Charges for Photocopy of Loan Agreement/ Documents Rs 250 per instance + Service Tax as applicable

LOAN AGAINST PROPERTY

Apply for Axis Bank's Loan Against Property through CreditNation. We will provide you a loan against your property. Be it commercial or residential. You can also apply for this loan and get the maximum benefits with CreditNation, if you need funds to acquire new property. A take-over of your existing loan with refinancing is also possible with Loan Against Property

  • Attractive interest rates
  • Doorstep service
  • Loan against property - Residential
  • Loan against property - Commercial
  • Loan for purchase of commercial property
  • Take-over of existing loan with additional refinance (Balance Transfer)
  • Lease Rental Discounting (LRD)

Earn eDGE loyalty points on Loan Against Property-

When you take a loan against property through CreditNation:
  • Earn 500 points if your disbursal is less than or equal to 25 lacs
  • Earn 1250 points if your disbursal is greater than 25 lacs but less than or equal to 75 lacs
  • Earn 2500 points if your disbursal is greater than 75 lacs

Interest Rates:

Type of Loan Base Rate + Markup Effective ROI (floating)
Loan Against Property Base Rate + 3.30% 13.15%
Purchase Of Commercial Property Base Rate + 3.30% 13.15%
Overdraft Facility Against Property Base Rate + 4.30% 14.15%
Lease Rental Discounting Base Rate + 3.55% 13.40%
Reverse Mortgage Loan Base Rate + 2.05% 11.90%
** Base Rate - 9.85%

The following are the eligibility criteria depending upon the income profile-

Salaried Individuals:
  • Any individual who is in permanent service in government or a reputed company
  • The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation
Professionals:
  • Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply
  • The applicant 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
Self-employed Individuals:
  • Any individual filing Income Tax returns can apply
  • The applicant in all the cases 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
Lease Rental Discounting (LRD):
  • All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956. Funding will be done only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower.

An application for an Loan Against Property loan should feature the following documents:

Document Salaried Applicants Other Applicants
Proof of identity Voter's ID card or driving license or PAN card or photo credit card or employee's ID card, or defense or police or government department ID card Voter's ID card or driving license or PAN card or photo credit card
Proof of income Latest salary slip showing all deductions or Form 16 along with recent salary certificate IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address
Bank statement or pass book where salary or income is credited Last 6 months Last 6 months
Guarantor form Optional Optional
Lease Agreement Copy of lease agreement required for all lease rental discounting cases Copy of lease agreement required for all lease rental discounting cases

Schedule of Charges

Scheme Asset Power (Loan Against Property) Dropline Overdraft Against Property / Commercial OD against Property Loan Against Rent Receivables
Loan Processing Charges 1% + Service tax as applicable 1% + Service tax as applicable 1% + Service tax as applicable
Pre- Prepayment/Foreclosure Charges If any of the borrower is a non individual - 2% will be charged, if the amount pre-paid exceeds 25% of the principal outstanding during a quarter, otherwise no prepayment penalty. The quarter refers to calendar quarter. However no prepayment will be allowed in the first quarter after taking the loan.
If all borrowers are individuals - Nil
Foreclosure charges: 2% will be charged on the limit set for the specific year in which the limit is being foreclosed. If any of the borrower is a non individual - 2% will be charged, if the amount pre-paid exceeds 25% of the principal outstanding during a quarter, otherwise no prepayment penalty. The quarter refers to calendar quarter. However no prepayment will be allowed in the first quarter after taking the loan.
If all borrowers are individuals - Nil
No Due Certificate NA NA NA
Solvency Certificate NA NA NA
Charges for Late Payment of EMI Penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s Penal interest @24% per annum i.e. @ 2% per month on the overdue amount/s Penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s
Stamp Duty & other statutory charges As per applicable laws of the state As per applicable laws of the state As per applicable laws of the state
Cheque Bounce Charges Rs 500/- per instance Rs 500/- per instance Rs 500/- per instance
Cheque swapping charges Rs. 500/- plus service tax as applicable Rs. 500/- plus service tax as applicable Rs. 500/- plus service tax as applicable
Duplicate statement issuance charges Rs. 250/- per instance Rs. 250/- per instance Rs. 250/- per instance
Issuance charges for photocopy of title deeds Rs 250/- per document set Rs 250/- per document set Rs 250/- per document set
Credit Report Issuance Charges Rs. 50/- Rs. 50/- Rs. 50/-

HOME LOAN:

Axis Bank offers loans to a variety of individuals. Home loan eligibility is determined by various factors such as income, employment status, tenure and so on. Our aim is to provide affordable housing loans to as many individuals and families as possible with our expert Help on CreditNation

Home Loan Eligibility Criteria

A) - Salaried Individuals
  • Individuals in permanent service in the Government or reputed companies meet our Home Loan eligibility criteria
  • Applicants should be above 24 years of age at the time of loan commencement and up to the age of 60 or superannuation, whichever is earlier at the time of loan maturity.
B) - Professionals
  • Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, 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.
C) - 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
Determine your loan eligibility using our Home Loan Eligibility Calculator

List of Home Loan documents required

The following documents are required along with your loan application:
Purpose Salaried Self Employed
Proof of Identity and Address Passport or Voter's ID card or Driving License or Job Card issued by NREGA or Adhaar Card or PAN card (PAN Card only as identity proof) or any other document as acceptable to the Bank
Proof of income Latest 3 Months salary slip showing all deductions and Form 16 IT returns for the last 2 years and computation of income for the last 2 years certified by a CA
Bank statement or Pass Book where salary or income is credited Last 6 months Last 6 months
Guarantor form Optional Optional

Attractive interest rates on Home Loans to ease your monthly outgo

Interest rate is one of the most important factors that determine the cost of your loan. If the home loan interest rate is high, then larger amount you will have to out every month. Axis Bank offers some of the most attractive home loan interest rates, helping you keep your EMI in check. So APPLY NOW to get best offers
But interest rates often fluctuate, and higher housing loan rates could affect monthly budgets. Our floating rate loans allow you to hedge the risk of rising home loan interest rates in India. If you are confident that interest rates will not rise, you may opt for a fixed rate of interest that provides you with the luxury of being locked into a fixed rate for a period of time. You then don’t have to worry about your monthly budgets.

Home Loan Rates

For Salaried:
Sr. No Type Loan amount (Rs.) Base Rate + Mark Up Effective Rate Of Interest
1 Floating Rate All loan amounts Base Rate + 0.10% 9.95% p.a.
Top Up Base Rate + 2.20% 12.05% p.a.
For Self Employed:
Sr. No Type Loan amount (Rs.) Base Rate + Mark Up Effective Rate Of Interest
1 Floating Rate Loans upto Rs. 75 Lacs Base Rate + 0.35% 10.20% p.a.
Loans above Rs. 75 Lacs Base Rate + 0.60% 10.45% p.a.
Top Up Base Rate + 2.20% 12.05% p.a.
Base Rate - 9.85%

Rates applicable only for Vanilla (Standard) Home Loan product

Home Loan with Fixed Rate of Interest

Type Effective Rate Of Interest
Fixed Rate 11.75% p.a.

Check the Processing charges for Home Loans

Other Charges:
Sr. No Type Charges
1 Repayment Instruction/Instrument Return charges Rs.500/- per instance
2 Cheque/Instrument Swap charges Rs.500/- per instance
3 CERSAI Charges Rs.500/-
4 Duplicate Statement issuance charges Rs. 250/- per instance
5 Duplicate Amortization schedule issuance charges Rs. 250/- per instance
6 Duplicate Interest Certifcate (Provisional/Actual) issuance charges Rs. 250/- per instance
7 Issuance charges for Photocopy of title documents Rs.250/- per document set
8 Charges on customer initiated requests for copies of documents Rs.250/- per document set
9 Equitable mortgage creation charges As applicable in the state
10 Credit Bureau report issuance charges Rs.50/- Per Instance
11 Prepayment Charges for Floating Rate Loan Nil
12 Prepayment Charges for Fixed Rate Loan 2% of outstanding principal/amount prepaid
13 No Due Certificate NA
14 Solvency Certificate NA
15 Charges for Late Payment of EMI Rs 500 per cheque bounce and a penal interest @24% per annum i.e. @ 2% per month on the overdue installment's

Switching Cost:

Switching from the fixed rate scheme to the floating rate scheme and vice versa is permissible. If a fixed rate customer wants to reschedule loan to present fixed interest rate applicable to the new customers, the same is also permissible. The existing floating rate customers can also switch to lower rate. For all above changes a nominal switch fee is applicable. Customers can contact CreditNation any time to know more on the same.