15 Lakh Home Loan Axis Bank

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Axis Bank Home Loan Balance Transfer

Axis Bank's 15 Lakh Home Loan is a great option for home financing. Whether you are looking for a low-interest loan to transfer your existing home loan with a higher interest rate or buying a home plot, the Axis Bank Home Loan can be a good choice. With competitive interest rates and special concessions on exclusive loan schemes, the Home Loan offers the perfect budget-friendly option for everyone. The loan request is processed within 5 working days with an easy-to-apply online application and streamlined processing.

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Table of Content

1. 15 Lakh Home Loan Axis Bank Highlights

2. 15 Lakh home loan emi for 10 years Axis Bank

3. 15 Lakh home loan emi for 20 years Axis Bank

4. 15 Lakh Axis Bank home loan Fees and Charges

5. 15 Lakh Axis Bank home loan Documents Required

6. 15 Lakh Axis Bank home loan Eligibility Criteria

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

15 Lakh Home Loan Axis Bank – Highlights

Feature	Description
Interest Rate	Salaried: 8.70% and onwards Self-employed: 9.10% and onwards
Loan Amount	Maximum of 5 Crore
Tenure	Up to 30 years
Any Hidden Charges	Zero

15 Lakh home loan emi for 10 years Axis Bank

15 Lakh home loan emi for 10 years in Axis Bank can be calculated based on the bank’s offered interest rate. You can easily calculate your monthly EMIs using a 15 Lakh loan emi calculator from Axis Bank.

Loan Amount	Tenure	Interest Rate	EMI per Month	Total Interest Paid on Loan Amount	Total Amount Repaid
15,00,000	10 years	8.70% (Salaried)	18,759	7,51,042	22,51,042
15,00,000	10 years	9.10% (Non-salaried)	19,083	7,89,917	22,89,917

15 Lakh home loan emi for 20 years Axis Bank

A 15 Lakh home loan emi for 20 years in Axis Bank can differ based on the interest rate, as projected in the table below.

Loan Amount	Tenure	Interest Rate	EMI per Month	Total Interest Paid on Loan Amount	Total Amount Repaid
15,00,000	20 years	8.70% (Salaried)	13,208	16,69,883	31,69,883
15,00,000	20 years	9.10% (Non-salaried)	13,593	17,62,202	32,62,202

15 Lakh Axis Bank home loan – Fees and Charges

Particulars	Fees/Charges (not inclusive of GST)
Foreclosure Charges	Floating Rate: 0% Fixed Rate: 2% of loan balance
Processing Charges	Up to 1% of the loan amount, subject to a minimum of Rs. 10,000
Fees for Switching Base Rate/BPLR to MCLR	When the effective rate is to be kept the same – No fees
Fees for Switching Base Rate/BPLR to MCLR	When an effective rate is to be revised – 0.5% on the outstanding principal, with a minimum of Rs. 10,000
Fees for Switching Floating Rate to Fixed Rate	1% on loan balance/minimum of 10,000/- (whichever is lower)
Late Payment Penalty	2% per month on the missed EMI, maximum totalling to 24%.
CERSAI charges	Fixed as per CERSAI Rs. 50 for Loans under Rs. 5 Lakh Rs. 100for Loans above Rs. 5 Lakh
Repayment Instruction/Cheque Return Charges	Rs. 500 per instance
Onetime fee for Switching Fixed Rate to Floating Rate	2% of the loan balance
Cheque/Instrument Swap Charges	Rs. 500 per instance
Duplicate Statement/Amortization Schedule/Interest Certificate Issuance Charges	Rs. 250 per instance

15 Lakh Axis Bank home loan – Documents Required

Application Form and PAN Card
Aadhar Card (mandatory only for PMAY subsidy)
Proof of identity, address, DOB, Signature (one document for each)
Income Proof

3 months salary slips (salaried applicants)
Minimum 6 months’ Bank Statement
2 years ITR and audited profit and loss balance sheet of business (self-employed applicants)

Loan Repayment Records and NOCs
Property Insurance form (mandatory)
Property Documents, including Lease agreement and Sale Agreement

The bank may ask for extra documentation depending on the application’s needs.

15 Lakh Axis Bank home loan – Eligibility Criteria

The criteria for 15 Lakh home loan eligibility in Axis Bank are as follows:

Applicant Type	Age Requirement	Profession/Income Requirement
Salaried	21-60	Permanent employees working in Government or Private sector.
Self-employed professional	21-65 (time of retirement)	Professionals with an educational degree to practice the said profession. (for example – doctors, engineers, chartered accountants, lawyers, etc.)
Self-employed individual	21-65 (time of retirement)	Stable source of income, including a business/private agency/firm, etc.

Frequently Asked Question (FAQs)

What is the EMI for a 15 Lakh Home Loan for 20 years in Axis Bank?

The monthly 15 Lakh home loan emi in Axis Bank is Rs.13,208 at the interest rate of 8.70% and Rs.13,593 if the interest rate is 9.10%. The EMI for the same amount at other interest rates will be higher.

Who is eligible for a 15 Lakh Home loan in Axis Bank?

The 15 Lakh home loan eligibility in Axis Bank is for salaried and non-salaried Indians and NRIs with a stable income source. The minimum age requirement to apply for the loan is 21, with the maximum being 65 at loan maturity.

What is the monthly interest rate of a 15 Lakh home loan in Axis Bank?

The monthly Axis Bank home loan interest rate for 15 Lakh can be 8.70% or higher, depending on your professional background, monthly income, and credit score.