10 Lakh Home Loan Axis Bank
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- Axis Bank Home Loan for Government Employees
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- Axis Bank Home Loan for Salaried Person
- Axis Bank Home Loan for Women & Housewife
Axis Bank's 10 Lakh Home Loan is designed for home purchases, construction, renovations, and plot purchases. Therefore, no matter your purpose, you can use the home loan to cover expenses without depleting your savings. Home loan eligibility is fairly relaxed for salaried and non-salaried individuals, allowing even low-income applicants to apply. Plus, with low-interest rate options linked to RBI-set MCLR/BPLR rates, you can be assured that you are getting the best deal on the home loan.
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Table of Content
Written By
Reviewed By10 Lakh Home Loan Axis Bank – Highlights
| Feature | Description |
| Interest Rate |
|
| Maximum Loan Amount | Up to 5 Crore |
| Maximum Tenure | 30 years |
| Any Undisclosed Charges | None |
10 Lakh home loan emi for 10 years Axis Bank
Here is the estimated 10 Lakh home loan EMI for 10 years in Axis Bank at interest rates of 8.70% and 9.10%. You can also use the Axis Bank 10 Lakh loan EMI calculator to estimate EMIs at different interest rates.
| Loan Amount | Tenure | Interest Rate | EMI per Month | Total Interest Paid on Loan Amount | Total Amount Repaid |
| 10,00,000 | 10 years | 8.70% (Salaried) | 12,506 | 5,00,695 | 15,00,695 |
| 10,00,000 | 10 years | 9.10% (Non-salaried) | 12,722 | 5,26,611 | 15,26,611 |
10 Lakh home loan emi for 20 years Axis Bank
Here are some projections of a 10 Lakh home loan emi for 20 years in Axis Bank based on the bank’s base interest rates.
| Loan Amount | Tenure | Interest Rate | EMI per Month | Total Interest Paid on Loan Amount | Total Amount Repaid |
| 10,00,000 | 20 years | 8.70% (Salaried) | 8,805 | 11,13,255 | 21,13,255 |
| 10,00,000 | 20 years | 9.10% (Non-salaried) | 9,062 | 11,74,802 | 21,74,802 |
10 LakhAxis Bank home loan – Fees and Charges
| Particulars | Fees/Charges (not inclusive of GST) |
| Loan Processing Charges | Rs. 10,000 or 1% of the loan amount, whichever is higher. |
| Foreclosure Charges/Partial Prepayment floating rate loan | None |
| Fixed-rate loan Foreclosure Charge | 2% of the principal outstanding |
| Late Payment Charge | 24% per annum/2% per month |
| Switching from Base Rate/BPLR to MCLR) | No charges if the effective rate remains the same. |
| Effective rate revision – 0.5% on outstanding principal, min. Rs. 10,000. | |
| Switching Floating Rate to Fixed Rate Interest | 1% on outstanding loans with a minimum of 10,000/-. |
| Switching Fixed Rate to Floating Rate Interest | 2% of loan balance |
| Repayment Instruction/Cheque Return Charges/Cheque/Instrument Swap Charges | Rs. 500 per instance |
| Duplicate Statement/Amortization Schedule/Interest CertificateIssuance Charges | Rs. 250 per instance |
| CERSAI charges | For Loan Amounts lower than Rs. 5 lakh – Rs. 50 |
| For Loan Amounts above Rs. 5 lakh – Rs. 100 | |
| Loan Cover/ Insurance | As per the bank’s instruction |
10 Lakh Axis Bank home loan – Documents Required
- Application Form
- PAN Card (mandatory for all)
- Aadhar Card (mandatory only for PMAY subsidy on home loans)
- Proof of identity, address, DOB and Signature
- Income Proof
- 3 months salary slips (salaried applicants)
- 6 Bank Statement
- 2 years ITR and P&L sheet of business (self-employed business owners)
- Loan Repayment Record
- Property Insurance form (mandatory)
- Property Documents
Besides the listed documents, the bank may also require additional paperwork.
10 Lakh Axis Bank home loan – Eligibility Criteria
The criteria for 10 Lakh home loan eligibility in Axis Bank is highly flexible, offering accessibility to a greater number of borrowers.
For Salaried Individuals
- Minimum age: 21
- Maximum age: 60 years/time of retirement.
- Professional background: Government or Private Firm Employee
For Professionals
- Minimum age: Over 21 years of age at the start of the loan.
- Maximum age: Under 65 years at the time of loan maturity.
- Professional background: Qualified professionals with a related education degree.
For Self-Employed Individuals
- Minimum age: Over 21 years of age at the start of the loan.
- Maximum age: Under 65 years at the time of loan maturity.
- Professional background: Any source of stable income
Frequently Asked Question (FAQs)
What is the EMI for a 10 Lakh Home Loan for 20 years in Axis Bank?
If you take a home loan of 10 Lakh from Axis Bank, the EMI for a monthly interest rate of 8.70% would be Rs.8,805, and for a monthly interest rate of 9.10%, it would be Rs.9,062.
Who is eligible for a 10 Lakh Home loan in Axis Bank?
The 10 Lakh home loan eligibility in Axis Bank is available to anyone aged 21 to 65 with a stable source of income.
What is the monthly interest rate of a 10 Lakh home loan in Axis Bank?
The monthly Axis Bank home loan interest rate for 10 Lakh is 8.70% and onwards for salaried employees. However, non-salaried applicants, including business owners and independent professionals, can apply for a loan at 9.10% or onwards.
