Selecting the Ideal Axis bank Home Loan Scheme for Your Need

Selecting the ideal home loan scheme from Axis Bank involves assessing your financial situation, repayment capacity, and specific requirements. Here's a guide to help you choose the most suitable option:

Standard Home Loan

• Purpose: For purchasing or constructing a new home.
• Eligibility: Available to salaried and self-employed individuals.
• Interest Rate: Floating rates starting from 8.75% p.a. for salaried and 9.10% p.a. for self-employed individuals.
• Tenure: Up to 30 years.
• Features: Flexible repayment options with no prepayment charges on floating rate loans.

Shubh Aarambh Home Loan

• Purpose: Designed for first-time homebuyers.
• Eligibility: Salaried and self-employed individuals.
• Tenure: Up to 30 years.
• Interest Rate: Competitive rates with potential EMI waivers.
• Features: Offers 12 EMI waivers—4 each at the end of the 4th, 8th, and 12th years—subject to terms.

Fast Forward Home Loan

• Purpose: For those seeking benefits over a longer tenure.
• Eligibility: Salaried and self-employed individuals.
• Tenure: Up to 30 years.
• Interest Rate: Competitive floating rates.
• Features: Provides 12 EMI waivers—6 each at the end of the 10th and 15th years—subject to terms.

Asha Home Loan

• Purpose: Tailored for economically weaker sections and low-income groups.
• Eligibility: Individuals with a minimum combined family income of ₹8,000 per month.
• Tenure: Up to 30 years.
• Interest Rate: Ranges from 10.50% to 12.85% p.a. for salaried and 12.00% to 13.30% p.a. for self-employed individuals.
• Features: Financing up to 90% of the property value.

Super Saver Home Loan

• Purpose: For those seeking to reduce the interest burden with surplus funds.
• Eligibility: Salaried and self-employed individuals.
• Tenure: Up to 20 years.
• Interest Rate: Competitive floating rates.
• Features:Offers an overdraft facility allowing deposit of surplus funds to reduce interest payable.

QuikPay Home Loan

• Purpose: For borrowers aiming to repay principal faster.
• Eligibility: Salaried and self-employed individuals.
• Tenure: Up to 30 years.
• Interest Rate: Competitive floating rates.
• Feature: Enables repayment of larger principal amounts early, leading to decreasing EMIs and interest savings.

Top-Up Home Loan

• Purpose: For existing home loan customers needing additional funds.
• Eligibility: Existing Axis Bank home loan borrowers with a good repayment track record.
• Interest Rates: Starts from 10.50% p.a.
• Tenure: Aligned with the existing home loan tenure.
• Features: Provides additional funds for personal or business needs without extra documentation.

Balance Transfer Home Loan

• Purpose: For transferring an existing home loan from another bank to Axis Bank.
• Eligibility: Salaried and self-employed individuals with a good repayment history.
• Interest Rates: Starts from 8.75% p.a.
• Tenure: Up to 30 years.
• Features: Option to avail top-up loan along with balance transfer.

Pradhan Mantri Awas Yojana (PMAY)

• Purpose: To provide affordable housing to eligible beneficiaries.
• Eligibility: Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG).
• Interest Rates: Interest subsidy up to 6.5% p.a.
• Tenure: Up to 20 years.
• Features: Subsidy on interest, reducing the overall loan burden.

Tips for Selecting the Right Home Loan Scheme

• Assess Your Financial Health: Evaluate your income, expenses, and existing liabilities to determine a comfortable EMI.
• Consider Loan Tenure: Longer tenures reduce EMIs but increase total interest outgo; shorter tenures do the opposite.
• Check Eligibility Criteria: Ensure you meet the specific requirements of the loan scheme.
• Review Interest Rates: Decide between fixed and floating rates based on market conditions and personal preference.
• Factor in Additional Benefits: Look for features like EMI waivers, overdraft facilities, and balance transfer options.

By carefully analyzing these factors, you can select an Axis Bank home loan scheme that aligns with your financial goals and housing needs.

How to apply for the Axis Bank home loan

There are several ways to apply for an Axis Bank Home Loan:

• Through SuGanta.com: Visit SuGanta.com and navigate to the Axis Bank Home Loan section and follow the instructions provided on the portal to complete your application.
• Visit nearest Axis Bank Branch: Locate your nearest Axis Bank branch or visit in person to apply for a home loan.
• Axis Bank Portal: Visit the official Axis Bank website and fill up the home loan application form correctly. You can also track the status of your application through this portal.

Axis Bank home loans combine competitive interest rates, flexible repayment options, and exclusive benefits for all borrowers. Secure your dream home with Axis Bank’s reliable and affordable home loan solutions.