Shubh Aarambh Home Loan By Axis Bank

As the name suggests, it’s time to make a Shubh Aarambh for your new home with minimal hassle, thanks to Axis Bank’s Shubh Aarambh Home Loan. This loan offers quick and easy disbursals with minimal documentation. Additionally, you may qualify for an interest subsidy under the Pradhan Mantri Awas Yojana (PMAY) scheme, making homeownership even more affordable. With a seamless three-step process, you can calculate your EMI effortlessly and easily complete the online application. Read on to discover the detailed features and benefits of the Axis Bank Shubh Aarambh Home Loan and how it can simplify your home financing journey.

Shubh Aarambh Home Loan – Highlights 

Below is a concise summary of the key highlights of the Shubh Aarambh Home Loan, offering a snapshot of its essential features for a quick reference:

Shubh Aarambh Home Loan – Features and Benefits

Choosing the Axis Bank Shubh Aarambh Home Loan comes with a range of benefits designed to make homeownership more affordable and flexible:

• EMI Waivers: The bank will waive up to 12 EMIs over the loan term, with 4 EMIs waived at the end of the 4th, 8th, and 12th years. This benefit is available for loans with a minimum tenure of 20 years, with no significant payment delays.
• Flexible Loan Options: Borrowers can use the loan to purchase under-construction, ready, or resale houses. It also covers self-construction, plot plus construction, and home improvement projects, providing flexibility based on your housing needs.
• No Hidden Charges: Enjoy transparent interest rates with no hidden fees, ensuring peace of mind throughout your loan journey.
• Tailored Loan Tenure: Choose a repayment period that suits your financial situation. Loan tenures can extend up to 30 years.

Shubh Aarambh Home Loan Interest Rates

The Shubh Aarambh Home Loan from Axis Bank offers competitive interest rates, starting from 8.75% per annum for salaried individuals and 9.10% per annum for self-employed individuals. These rates vary depending on factors such as:

• the applicant’s credit score, 
• Loan tenure, 
• the loan amount.

Axis Bank also offers flexible rate options, including fixed and floating interest rates, allowing borrowers to choose the best option for their financial situation.

Shubh Aarambh Home Loan Fees and Charges

Understanding the additional costs associated with your loan is crucial for making an informed decision. Here’s a breakdown of the charges for the Axis Bank Shubh Aarambh Home Loan:

• Processing Fee: 1% of the total loan amount, with a cap of ₹10,000.
• Prepayment Charges: NIL (for individual borrowers)
• Late Payment Fees: 2% on overdue EMIs
• Penal interest – NIL

Shubh Aarambh Home Loan – Eligibility Criteria

To qualify for the Shubh Aarambh Home Loan from Axis Bank, applicants must meet the following criteria:

• Age range: The age range for salaried individuals is between 21 and 60. For self-employed individuals, the maximum age at loan maturity is 65.
• Income: Salaried and self-employed individuals are eligible, provided they have a stable income that meets Axis Bank’s requirements.
• Employment: A consistent track record is required, such as being employed in the government sector or a reputable company for salaried applicants or filing income tax returns for self-employed individuals.
• Credit Score: A good credit score (generally 750 or above) will improve eligibility and may also result in better interest rates.

Shubh Aarambh Home Loan – Documents Required

To apply for the Shubh Aarambh Home Loan from Axis Bank, you’ll need to submit the following documents:

Shubh Aarambh Home Loan EMI Calculator

The Shubh Aarambh Home Loan EMI Calculator helps you estimate your monthly payments by entering key details such as the loan amount, interest rate, and loan tenure. Using this tool, you can plan your finances efficiently and determine the most suitable EMI amount for your home loan. Simply input:

• Loan Amount
• Interest Rate
• Loan Tenure

The calculator will give you an accurate EMI figure, helping you choose the right loan terms and avoid financial strain.