45 Lakh Axis Bank Home Loan
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Axis Bank offers home loans for salaried individuals, self-employed professionals, and salaried NRIs. With Axis Bank's 45 Lakh Home Loan, you can choose between fixed and floating interest rates and enjoy a flexible tenure of up to 30 years. With Axis Bank's home loan options, you can also benefit from the Super Saver Home Loan, which comes with an overdraft facility and an option to invest any surplus amount to earn interest. The QuikPay Home Loan also allows you to pay reduced monthly instalments instead of EMIs. With a transparent online application process, no prepayment charges on floating interest rates, and the option to transfer your existing home loan balance to Axis Bank, you can easily fulfil your dream of owning a home.
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Table of Content
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Reviewed By45 Lakh Home Loan Axis Bank – Highlights
| Feature | Description |
| Interest Rate |
|
| Loan Amount | Maximum of 5 Crore |
| Tenure | 30 years |
| Any Hidden Charges | Nil |
45 Lakh Home Loan EMI for 10 Years Axis Bank
Working out the EMI is easy with the 45 Lakh loan emi calculator of Axis Bank. Here is how the 45 Lakh home loan emi for 10 years in Axis Bank will stand:
| Amount | Duration | Rate of Interest | Monthly EMI | Interest Outgo | Final Repayment Amount |
| 45,00,000 | 10 years | 8.70% (Salaried) | 56,276 | 22,53,127 | 67,53,127 |
| 45,00,000 | 10 years | 9.10% (Non-salaried) | 57,248 | 23,69,751 | 68,69,751 |
45 Lakh Home Loan EMI for 20 Years Axis Bank
What does a 45 Lakh home loan emi for 20 years in Axis Bank look like? Here is how:
| Amount | Duration | Rate of Interest | Monthly EMI | Interest Outgo | Final Repayment Amount | |||||
| 45,00,000 | 20 years | 8.70% (Salaried) | 39,624 | 50,09,648 | 95,09,648 | |||||
| 45,00,000 | 20 years | 9.10% (Non-salaried) | 40,778 | 52,86,607 | 97,86,607 | |||||
45 Lakh Axis Bank Home Loan – Fees and Charges
Here are the fees and charges worth considering:
| Parameters | Charges (does not include GST) |
| Processing Charges | Till 1% of the loan amount. The minimum is Rs. 10,000 |
| Prepayment Charges, including part prepayment for floating rate loan | Zero |
| Prepayment Charges for a fixed-rate loan | 2% of the principal outstanding |
| Penal Interest Rate | 24% per annum or 2% per month |
| Switching Fees (Base Rate/BPLR to MCLR) | No fees (When the effective rate is to be kept the same) |
| 0.5% on the outstanding principal with Rs. 10,000 as the minimum (When an effective rate is to be revised) | |
| Switching Fees (Floating Rate to Fixed Rate) | 1% on the outstanding principal with the minimum being Rs.10,000/- |
| Switching Fees (Fixed Rate to Floating Rate) | 2% on the outstanding principal amount |
| Repayment Instruction/Cheque Return Charges | Rs. 500 for every instance |
| Cheque/Instrument Swap Charges | Rs. 500 for every instance |
| Duplicate Statement Issuance Charges | Rs. 250 for every instance |
| Duplicate Amortization Schedule Issuance Charges | Rs. 250 for every instance |
| Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | Rs. 250 for every instance |
| CERSAI charges | For loans up to Rs. 5 lakh – Rs. 50 |
| For loans above Rs. 5 lakh – Rs. 100 | |
| Loan Cover/ Insurance | As per the bank’s agreement |
45 Lakh Axis Bank home loan – Documents Required
What documents do you require? For starters, you will need the application form and basic KYC documents like address proof, identity proof, and proof of your date of birth. The PAN Card and Aadhar card will be required. The latter is also needed for PMAY subsidies. Your signature proof of existing loan documents and property insurance forms are also necessary. You must furnish proof of income with your bank statements, IT returns for two years, and a P&L business sheet (for self-employed borrowers) or salary slips for 3 months (for salaried borrowers). The bank will also require the property purchase documents.
Eligibility Criteria For 45 Lakh Axis Bank Home Loan
Here are the criteria for 45 Lakh home loan eligibility in Axis Bank that you should know more about.
- The age limit is 21-60 years for salaried borrowers and 21-65 years for self-employed and professional borrowers.
- Salaried personnel should be permanently employed in private or Government organisations.
- Self-employed borrowers should have a proven income source.
- Professionals should be qualified to practice their professions.
Frequently Asked Questions (FAQs)
What is the EMI for a 45 Lakh Home Loan for 20 years in Axis Bank?
You will pay Rs. 39,624 as your 45 Lakh home loan emi in Axis Bank every month. This assumes an interest rate of 8.70%, while if it goes up to 9.10%, then the monthly EMI will be Rs. 40,778.
Who is eligible for a 45 Lakh Home loan in Axis Bank?
The 45 lakh home loan eligibility in Axis Bank includes the age limit (21-65 years) and also proof of income.
What is the monthly interest rate of a 45 Lakh home loan in Axis Bank?
The Axis Bank home loan interest rate for 45 lakh is usually around 8.70-9.10% onwards, depending on the borrower category.
