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Buying a house is a financial goal and to accomplish it, a home loan can come to your aid. With an Equated Monthly Instalment facility, repayments become comfortable. After the eligibility for the NRI customer is checked, the bank will schedule a meeting with him. The NRI has to submit the documents and the property-related documents when the loan is approved. The NRI home loan will be credited after the technical and legal staff from Axis Bank review it.
Long time back I took home loan from Axis, at the time I visited multiple time to the bank for submitted the papers. It took more than 2 months the loan amount was Rs. 21 lakhs for the duration of 28 years, they do have balance transfer, part payment option. The amount which they committed and I got is different its should be prompt.
QuikPay Home Loan
For further details or to begin availing your loan, simply click on the “Get a call back” button and fill in your details. An amortization schedule provides the break-up of these amounts repaid towards principal and interest along with their respective balances through every year of the loan. To allocate amount paid towards the interest and principal, applicants are provided an amortization schedule which indicates corresponding balance amounts per year. That said, before you avail of a home loan, as a prudent loan planning exercise, always assess how much the EMI will be. After all, availing a home loan is an important financial decision.
You can prepay your loan before the end of your loan tenure. For floating-rate loans, you will not be charged a prepayment fee. For fixed-rate loans, you will be charged 2% of the outstanding principal as prepayment fee.
Q10. Can an applicant shift his floating interest rate home loan to a fixed-rate home loan or vice versa?
The home loan that you can take under this category applies to the homes under construction or is ready for resale. It can also be used to purchase a plot or for improvement or extension of the home. The interest rate that the bank charges are affordable and reasonable. The processing is transparent, and the service is quick. Existing Axis Bank Home Loan borrowers are eligible to apply for the Top-Up Loan.
One who wants to apply for the Axis Bank housing loan has to fulfill the eligibility criteria of the bank. The applicant needs to log in to the Axis Bank website to understand if he is eligible for the housing loan. To avail the NRI home loan from Axis Bank, you need to be aware of the rate of interest that the bank charges on the home loan. The rate of interest is 8.90% to 9.05% with a mark-up percentage. This accompanies the marginal cost of funds-based lending rate or MCLR. Axis Bank offers home loan to the Non-Resident Indians as well.
FAQs on Axis Bank Loan Repayment
Yes, an applicant can shift his current existing loan interest type into the other. However, they may have to pay some extra charges for doing so. Yes, an Axis Bank employee gets concessional interest rates of about 1% compared to the existing home loan rates. Various Builder/Developer who have advertised their products.
Check your transaction history for future reference. On their loan reset dates, borrowers of home loans and other loans should expect to see an additional increase in their EMIs. If you are a “first-time home buyer”, you can even claim an additional deduction upto Rs 50,000 under Section 80EE . This additional deduction can be availed after first exhausting the limit under Section 24 for the interest portion.
Service Guides
I applied the loan amount of Rs. 25 lakhs for the tenure period of 25 years. Bank has rejected the loan because its a vacant land and commercial basis but after that i did not have any follow up with them. I purchased a home loan from Axis bank in the year of 2011 Just because of my salary account is with them. I have taken the loan amount of Rs. 7.5L and I have chosen the tenure period of 20 years. To sanctioned this loan almost they took 10 to 15 days. Since I'm a salary account holder, the documentation process was quite high.
I have a home loan with AXIS BANK The loan amount was satisfactory with tenure period is good . Can I pay a higher principal loan amount at the beginning of the loan tenure? If you sign up for the QuikPay scheme, you can pay a higher principal amount so as to reduce the burden of interest. The CLSS scheme under the Pradhan Mantri Awas Yojana , which allows first-time homebuyers subsidy on home loan interests has significantly improved demand for home loans. Axis Bank has helped to meet this demand considerably, primarily because of its affordable interest rates on home loans. You may have several questions about Axis Bank NRI Home Loan or Axis NRI loans.
The benefit of this loan is that the processing fee is minimal, and the tenure is flexible. Axis Bank offers home financing schemes for both salaried and self-employed individuals. Attractive rates and flexible tenures are some of the major highlights of Axis Bank home financing schemes. Loans are available for both salaried and self-employed individuals.
I am holding AXIS BANK credit card , they offered me good credit limit with this card . The features is attractive with this card and even offers are decent here . I am not doing net banking i am using NEFT which is very easy. When i joined in a company, My friends suggested me a Axis bank based on the quick process. They have completed the entire process in two weeks.
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