20 Lakh Home Loan Axis Bank

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Axis Bank offers a range of home loan products to help you turn your dream of owning a home into a reality. The bank caters to salaried individuals, self-employed individuals, salaried NRIs, and low-income groups with loan amounts ranging from 1 Lakh to 5 Crore rupees. The tenure for Axis Bank's 20 Lakh Home Loan is up to 30 years, giving you ample time to repay your loan at your convenience. The bank also offers unique products like the Shubh Aarambh Home Loan, which rewards you with 12 EMIs off on regular payments and QuikPay Home Loan, which reduces monthly instalments.

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Table of Content

1. 20 Lakh Home Loan Axis Bank Highlights

2. 20 Lakh home loan emi for 10 years Axis Bank

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

4. 20 Lakh Axis Bank home loan Fees and Charges

5. 20 Lakh Axis Bank home loan Documents Required

6. 20 Lakh Axis Bank home loan Eligibility Criteria

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

20 Lakh Home Loan Axis Bank – Highlights

Feature	Description
Interest Rate	Salaried: 8.70% onwards Self-employed: 9.10% onwards
Loan Amount	Up to 5 Crore
Tenure	30 years
Any Hidden Charges	No hidden charges

20 Lakh home loan emi for 10 years Axis Bank

It is easy to calculate the EMIs on your loan with a 20 Lakh loan emi calculator of Axis Bank. Here is a general projection of 20 Lakh home loan emi for 10 years in Axis Bank using the same principle that the EMI calculator uses.

Loan Amount	Tenure	Interest Rate	EMI per Month	Total Interest Paid on Loan Amount	Total Amount Repaid
20,00,000	10 years	8.70% (Salaried)	25,012	10,01,390	30,01,390
20,00,000	10 years	9.10% (Non-salaried)	25,444	10,53,222	30,53,222

20 Lakh home loan emi for 20 years Axis Bank

Here is a general projection of 20 Lakh home loan emi for 20 years in Axis Bank.

Loan Amount	Tenure	Interest Rate	EMI per Month	Total Interest Paid on Loan Amount	Total Amount Repaid
20,00,000	20 years	8.70% (Salaried)	17,610	22,26,510	42,26,510
20,00,000	20 years	9.10% (Non-salaried)	18,123	23,49,603	43,49,603

20 Lakh Axis Bank home loan – Fees and Charges

Particulars	Fees/Charges (not inclusive of GST)
Processing Charges	Up to 1% of the loan amount, subject to a minimum of Rs. 10,000
Prepayment Charges, including part prepayment for floating rate loan	Nil
Prepayment Charges for a fixed-rate loan	2% of the principal outstanding
Penal Interest Rate	24% per annum, 2% per month
Switching Fees (Base Rate/BPLR to MCLR)	When the effective rate is to be kept the same – No fees
Switching Fees (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
Switching Fees (Floating Rate to Fixed Rate)	1% on the outstanding principal with a minimum of 10,000/-
Switching Fees (Fixed Rate to Floating Rate)	2% on the outstanding principal amount
Repayment Instruction/Cheque Return Charges	Rs. 500 per instance
Cheque/Instrument Swap Charges	Rs. 500 per instance
Duplicate Statement Issuance Charges	Rs. 250 per instance
Duplicate Amortization Schedule Issuance Charges	Rs. 250 per instance
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges	Rs. 250 per instance
CERSAI charges	For loans up to Rs. 5 lakh – Rs. 50
CERSAI charges	For loans above Rs. 5 lakh – Rs. 100
Loan Cover/ Insurance	As per the bank’s agreement

20 Lakh Axis Bank home loan – Documents Required

Application Form and PAN Card (mandatory)
Aadhar Card (mandatory for PMAY subsidy)
Proof of identity
Proof of address
Date of Birth Proof
Signature proof
Proof of Income

3 months salary slips (salaried applicants)
6 Bank Statement

2 years ITR and P&L sheet of business (self-employed applicants)
Documents of Existing Loans
Property Insurance form (mandatory)
Property Sale/Lease Documents

Apart from the listed documents, the bank may require other additional documents.

20 Lakh Axis Bank home loan – Eligibility Criteria

The criteria for 20 Lakh home loan eligibility in Axis Bank is highly flexible, offering accessibility to a greater number of borrowers.

For Salaried Individuals

Minimum age: Over 21 years of age at the start of the loan.
Maximum age: Under 60 years at the time of loan maturity or time of retirement.
Professional background: Employed in permanent positions in a government sector or private sector.

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 an education degree to pursue the profession. (Doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants)

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: Proven source of recent income

Frequently Asked Question (FAQs)

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

The monthly 20 Lakh home loan emi in Axis Bank is Rs.17,610 at the monthly interest rate of 8.70%.

Who is eligible for 20 Lakh Home loan in Axis Bank?

As the 20 Lakh home loan eligibility in Axis Bank is flexible, anyone in the age group of 21-65 can apply for the loan if they have a stable source of income.

What is the monthly interest rate of 20 Lakh home loan in Axis Bank?

The monthly Axis Bank home loan interest rate for 20 Lakh ranges from 8.70% to 9.10%.