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Axis Bank Asha Home Loan Scheme

Axis Bank Asha Home Loan Scheme

Axis Bank Asha Home Loan is a scheme designed for low-income customers who want to purchase or build a house. The maximum loan amount available through the Axis Bank Asha Home Loan Scheme is Rs. 35 lakh, and the interest rate starts from 8.70% per annum. Eligible candidates can secure the funds to purchase an under-construction, ready, resale, or self-constructed property. The bank also permits borrowers to use the funds for extending or renovating their existing homes, making it a more versatile financing option. Moreover, applicants can benefit from moderate eligibility criteria, minimal documentation, a hassle-free application process, and quick fund disbursement. Find out more about this affordable home loan below.

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Table of Content

1. Axis Bank Asha Home Loan Features and Benefits

2. Interest Rates For Axis Bank Asha Home Loan

3. Axis Bank Asha Home Loan Fees and Charges

4. Axis Bank Asha Home Loan Eligibility Criteria

5. Documents Required For Axis Bank Asha Home Loan

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.

Axis Bank Asha Home Loan – Features and Benefits

Following are the features and benefits of the Axis Bank Asha Home Loan Scheme:

Affordable interest rate
Get 12 EMIs waived off
Avail up to 90% of the property value
Available loan amounts start from ₹1 lakh.
Moderate eligibility criteria
Personalised loan solutions

Interest Rates For Axis Bank Asha Home Loan

Following are the interest rates and other key factors you should be aware of before initiating your loan application:

Noun	Parameter
Interest Rates	8.70% p.a. onwards
Loan Amount	₹1 lakh – ₹35 lakh
Loan Tenure	Up to 30 years
Eligibility	A minimum income of ₹8,000 per month is required

Axis Bank Asha Home Loan Fees and Charges

Following are the expected fees and charges of Axis Bank Asha Home Loan Scheme:

Fee/Charge	Amount
Processing fee	Up to 1% of the loan amount
Log in fee	₹10,000
Prepayment charges	2% on the amount paid (nil for floating rate of interest)
Late payment charges	24% p.a. on the overdue instalment(s)
Cheque return/repayment instruction	₹500 /- per instance
Duplicate statement issuance charges	₹250 /- per instance
Issuance charges for photocopy of title documents	₹500 / – per document set
Cheque/instrument swap charges	₹500 /- per instance
Equitable mortgage creation charges	As applicable in the state
Stamp duty & other statutory charges	As per applicable laws of the state

Axis Bank Asha Home Loan – Eligibility Criteria

Following are the required eligibility criteria for the Axis Bank Asha Home Loan Scheme:

You must be between 18 and 60 years old; self-employed applicants can extend up to 65 years old.
You must have a minimum salary/income of ₹8,000 per month.
You must have a good credit score and repayment history.
You must be an Indian citizen.

Documents Required For Axis Bank Asha Home Loan

The following are the documents required to apply for an Axis Bank Asha Home Loan Scheme:

Proof of Identity: PAN Card (Mandatory), Aadhaar Card, Passport, or Driving License.
Proof of Address: Electricity Bill, Gas Bill, Property Tax Receipt, or Voter ID.
Proof of Income: Salaried applicants require 3 months’ salary slips, 6 months’ bank statements, and 2 years’ Form 16 (or employment continuity form). Self-employed applicants must submit their business proof, such as 1-year ITR, P&L, income computation, and balance sheet with a CA seal and sign.

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