Axis Bank home loan provides excellent options with competitive interest rates, low processing fees, and a special balance transfer scheme. Whether a new loan or a balance transfer, Axis Bank ensures top-notch service. With attractive Axis Bank home loan interest rates, here are the benefits of transferring your home loan:

• Income-Based Balance Transfer Loans
• The eligibility for the transfer will be based only on the seasoning and track record of the existing loan.
• Up to 100% top-up at regular home loan interest rates

Axis Bank Home Loan Interest Rates February 2025

Check out the table below showing the interest rate, processing fee, tenure, and maximum loan amount available for Axis Bank home loan -

Features of Axis Bank Home Loan Interest Rates

Axis Bank's Home Loan products are designed to meet diverse financial goals, offering a range of features:

• Loans ranging from ₹3 lakh to ₹5 crore for various property investments.
• Flexible EMIs to support comfortable financial planning.
• Choice of fixed or floating interest rates to suit individual risk preferences.
• Streamlined application process for quick approvals.
• Easy transfer options to switch existing home loans to Axis Bank’s favorable terms.
• Online loan management for convenience.
• No prepayment charges on floating-rate home loans, ensuring financial flexibility.

Top 10 Advantages of Axis Bank Home Loan

Here are the top 10 most important advantages of Axis Bank Home Loan, read below to understand in a better way - 

• Owning a Long - Term Appreciating Asset - Buying a house lets you own an asset that appreciates over time. Unlike renting, where you pay someone else's mortgage, homeownership builds equity as your property's value grows.

• Tax Benefits on Home Loans - The Government of India offers tax benefits on home loans. Under Section 24B of the Income Tax Act, you can claim up to ₹2 lakh as a deduction on interest payments.

• Lower Home Loan Interest Rates - Home loans have lower interest rates compared to personal loans or credit cards. Lower EMIs help save money over the long term.

• No Prepayment Charges - Floating-rate home loans have no prepayment penalties, allowing you to make partial payments with surplus funds to reduce your debt faster.

• Balance Transfer Facility - You can transfer your home loan to another lender offering better interest rates or terms, enabling cost savings during the loan tenure.

• Flexible Repayment Tenure - Home loans offer repayment tenures of up to 30 years, allowing borrowers to adjust EMIs to more manageable levels for financial ease.

• No Lock-In of Funds - Opt for a home loan with an OD account to avoid locking in funds. This ensures access to funds during emergencies without exhausting your savings.

• Improved Credit Score - Timely repayment of home loan EMIs boosts your credit score, improving creditworthiness and eligibility for future loans with better interest rates.

• Low-Cost Debt for Asset Creation - Home loans offer lower interest rates than personal loans or credit cards, enabling you to create a valuable asset while maximizing returns on investment.
   
• Thorough Due Diligence - Conduct proper due diligence, including property inspections, title verification, and legal documentation, to ensure an informed and secure home purchase.

Factors Affecting Axis Bank Home Loan Interest Rate

Here are the top 6 factors that might affect your Axis Bank Home Loan Interest Rate, before applying for it, keep these pointers in mind -

Check Your Credit Score and Eligibility

• A credit score of 750+ increases your chances of lower interest rates on home loans. Maintain a good score by paying loans and credit card bills on time. Understand the lender’s eligibility criteria, including income, age, job stability, and dependents. For joint loans, the co-applicant's income is also considered.

Compare Interest Rates and Choose Loan Tenure

• Compare fixed and floating interest rates across lenders. Select a loan tenure that balances EMI affordability and overall interest cost—longer tenures reduce EMIs but increase interest.

Prepare Comprehensive Documentation

• Gather the following documents for a smooth application:
• KYC Documents: Aadhaar, voter ID, or passport for identity and address proof.
• Income Documents: Salary slips or IT returns for the past few years.
• Property Documents: Sale agreement, title deeds, etc.

Plan for Down Payment and Property Value

• Lenders require a down payment of 10-20% of the loan amount. Increasing this amount reduces your loan and interest. The property value and Loan-to-Value (LTV) ratio affect the loan amount.

Choose the Right Lender and Consider Loan Insurance

• Some banks offer lower interest rates but slower processing, while others offer faster service. Compare options and choose based on your needs. Consider home loan insurance for added protection, but check its terms and costs.

Plan for Future Financial Changes and Loan Adjustments

• Be prepared for interest rate changes if you have a floating-rate loan. Ensure your budget can handle potential EMI increases. Use an EMI calculator to determine how much you will pay each month.

If you already have a loan, consider a balance transfer to secure better rates or terms. For NRIs, check NRI home loan interest rates, which are usually competitive.

Axis Bank offers customized home loan solutions with flexible terms, competitive rates, and a smooth application process.

Calculating EMIs on Axis Bank Home Loans at Different Interest Rates

To calculate EMIs on Axis Bank Home Loan at different interest rates, use the online Wishfin Axis Bank Home Loan EMI calculator to quickly and easily calculate your EMIs.

You can simply put the following details - 

• Loan Amount

• Tenure

• Interest Rate

For Ex: The table below displays the equal monthly payments (EMIs) for a ₹15,00,000 home loan with interest rates ranging from 8.75% up to 9.10% annually for terms of five to twenty-five years. You can change the loan amount and other details to suit your needs.

Avail of Axis Bank Home Loan at a Lower Interest Rate

Below mentioned points are important if you are looking for lower interest rates for an Axis Bank Home Loan, read properly to understand and know better - 

• Switch from Fixed to Floating Interest Rate
  If interest rates drop, switching to a floating rate can lower your EMIs. Floating rates are typically lower than fixed rates and can save you money over time.

• Transfer Loan to a New Lender
  You can transfer your home loan to another lender offering lower interest rates or better terms, helping you reduce your overall interest burden.

• Check and Change Interest Pricing
  Periodically review your loan’s interest rate with your current lender. If rates have decreased or if you’re eligible for a better deal, negotiate a rate change to reduce your payments.

Documents Required for Axis Bank Home Loan 2025

These are the list of documents for the people seeking for Axis Bank Home Loan:- 

• Proof of Identity: PAN card, passport, voter ID, or Aadhaar card
• Proof of Address: Utility bills, Aadhaar, or passport
• Proof of Income:
• Salaried: Last 3 months' salary slips, Form 16
• Self-employed: Income tax returns (ITR), bank statements (6 months)
• Property Documents: Title deed, authorised building plan, and sale agreement
• Employment Details: Employment certificate, income tax returns (ITR)

Eligibility Requirement for Axis Bank Home Loan

This table shows you the three different columns containing eligibility criteria for three different people namely, Salaried professional, and for Self- Employed. Read the table carefully to know about the eligibility criteria of Axis Bank Home Loan - 

Other Charges of Axis Bank Home Loan

Here are the other charges of the Axis Bank Home loan which should be kept in mind while applying for the Home Loan -

Axis Bank Home Loan Balance Transfer Interest Rates

Axis Bank provides an amazing balance transfer facility with which you can end the financial struggle that you are facing due to higher interest rates. With this facility, you can reduce your EMI burden by transferring your existing home loan outstanding balance to Axis. However, you will need to pay a small processing fee for this facility but as the Axis Bank Home Loan interest rates are so low, you will be repaying the loan amount in a hassle-free manner.

The balance transfer fee depends on the outstanding loan amount. Lenders primarily assess your repayment history and CIBIL score before approving your transfer. If these are satisfactory, your loan will be transferred to Axis Bank.

Other than this, the most important thing that you can do with the Axis Bank Home Loan Balance Transfer facility is the save on EMI and interest outgo. 

Eligibility Criteria for Axis Bank Home Loan Balance Transfer

To avail of the Axis Bank Home Loan Balance Transfer facility, the following eligibility criteria apply:

• Resident Indians aged between 21 and 60 years (65 years for self-employed borrowers).
• Salaried employees in government or private sectors, professionals like doctors, dentists, engineers, architects, accountants, management consultants, and self-employed individuals with IT returns are eligible.
• The minimum loan amount is ₹3 lakh, with the maximum amount based on the borrower’s repayment capacity.

Documents Needed to Transfer the Balance of an Axis Bank Home Loan

To avail of the Axis Bank HLBT facility, the following documents are required:

• Property documents from the existing home loan lender.
• Attested copy of the current loan statement.
• Bank statements for the last 12 months show EMI deductions.
• No Objection Certificate (NOC) or consent letter from the current lender.
• Salary slips, Form 16, income statements, and the latest Income Tax Returns.
• KYC documents (Aadhaar, PAN Card, Passport, Driving License, Voter ID, etc.).
• Duly filled application form for the new home loan lender.

Note: Axis Bank may request additional documents based on the borrower’s credit profile.

How to Apply for Axis Bank Home Loan Balance Transfer

Here are the steps to apply for Axis Bank Home Loan Balance Transfer - 

• Calculate Savings - Use the Axis Bank Home Loan Balance Transfer Calculator to estimate your potential savings by transferring your loan.

• Apply Online or In-Person - Apply online via the Axis Bank website or visit a branch to discuss and finalize your loan terms.

• Request Closure Letter - After agreeing to loan terms, send a closure letter to your current lender requesting a No Objection Certificate (NOC).

• Submit NOC and Documents - Submit the NOC and required documents to Axis Bank for verification.

• Loan Disbursement - Once documents are verified, Axis Bank will settle the outstanding balance with your current lender and provide a foreclosure certificate.

• Start EMI Payments - Begin paying your EMIs to Axis Bank according to the new loan terms.

Conclusion

Axis Bank offers competitive home loan interest rates, with attractive rates determined by the applicant's eligibility and current market conditions. Borrowers can choose between fixed and adjustable rate options to best suit their financial needs. For those looking to invest in real estate, Axis Bank provides accessible and affordable home loan options with flexible terms and low processing costs. Additionally, features like prepayment flexibility and balance transfer options make managing finances easier with the Axis Bank home loan interest rate advantage.

Frequently Asked Questions

1. What is the current Axis Bank home loan rate?

2. When does the interest rate of Axis Bank home loan change?

3. How can I reduce my home loan interest rate in Axis Bank?

4. Is prepayment allowed in Axis Bank home loans?

5. What is the processing fee for an Axis Bank home loan?