Axis Bank Home Loans Processing Fees & Charges
Axis Bank Home Loan processing fees are 1% of the loan amount (minimum Rs.10,000) plus applicable taxes, with a maximum loan tenure of 30 years. Other charges, including penal interest, switching fees and prepayment charges, vary by loan variant and are listed below. This page covers every fee Axis Bank levies across its home loan products.
Processing Fees | 1% of the loan amount (minimum of Rs.10,000) |
Interest Rate | 8.00% p.a. onwards (for a CIBIL score of 751 and above) |
Maximum Tenure | 30 years |
Types of Axis Bank Home Loans and their Processing Fees
Axis Bank Home Loans | Processing Fees |
Axis Bank Home Loan | 1% of loan amount (minimum of Rs.10,000) Rs.5,000 + GST will be charged upfront at the time of application login. |
Axis Bank QuikPay Home Loan | Contact the bank |
Axis Bank Asha Home Loan | Contact the bank |
Axis Bank Power Advantage Home Loan | Contact the bank |
Axis Bank Shubh Aarambh Home Loan | Contact the bank |
Axis Bank Fast Forward Loan | Contact the bank |
Axis Bank Empower Home Loan | Contact the bank |
Axis Bank Super Saver Home Loan | Contact the bank |
Axis Bank Top-Up Home Loan | Contact the bank |
* This fee will not be refunded in case the loan is rejected. The balance processing fee will be charged at the time of loan disbursement.
Axis Bank's home loan interest rate also depends on your CIBIL score. Applicants with a CIBIL score of 751 and above are offered rates from 8.00% p.a. to 8.85% p.a., while those with a lower score or no credit history are offered rates from 8.20% p.a. to 9.10% p.a.
Axis Bank Home Loan Other Charges
Particulars | Charges |
Admin Charges | Rs.0 |
Penal Interest Rate | 8% p.a. on the overdue amount (subject to an aggregate cap of Rs.1,00,000, minimum Rs.300 per instance) |
Switching Fees (Floating to Fixed Rate of Interest) | 1% on the outstanding principal, subject to a minimum of Rs.10,000. |
Switching Fees (Fixed to Floating Rate of Interest) | 2% on the outstanding principal amount. |
Switching Fees (Higher Floating to Lower Floating Rate of Interest) | Rs.1,000 (up to Rs.10 lakh outstanding), Rs.2,000 (Rs.10.01-30 lakh), Rs.3,000 (Rs.30.01-75 lakh), or Rs.5,000 (above Rs.75 lakh), based on the outstanding principal. |
Cheque Return/Repayment Instruction | Rs.500 per instance. |
Instrument/Cheque Swap | Rs.500 per instance. |
Duplicate Statement Issuance | Rs.250 per instance. |
Duplicate Amortisation Schedule Issuance | Rs.250 per instance. |
Duplicate Interest Certificate Issuance (Provisional/Actual) | Rs.50 per instance. |
Credit Report Issuance | Rs.50 per instance. |
Photocopy of Title Documents | Rs.500 per set of documents. |
Customer Initiated Photocopies of Documents | Rs.500 per set of documents. |
Prepayment including Part-Prepayment for Floating Rate of Interest | Nil |
Prepayment Charges for Fixed Rate of Interest | 2% of the outstanding principal amount. |
Equitable Mortgage Creation | As applicable in the respective State. |
Stamp Duty | As applicable under the respective State's stamp duty laws. |
CERSAI | Rs.50 for loans up to Rs.5 lakh Rs.100 for loans above Rs.5 lakh |
Duplicate No-Objection Certificate Issuance | Rs.250 per instance (GST applicable where mandated). |
Insurance/Loan Cover | Property insurance is mandatory. |
Axis Bank Home Loan Processing Fees
- Processing fees is 1% of the loan amount (minimum of Rs.10,000).
- Loan amount: Minimum of Rs.3 lakh.
- You can choose between floating or a fixed rate of interest.
- Loan tenure: Maximum of 30 years.
Axis Bank QuikPay Home Loan Processing Fees
- Bank levied 1% of the loan amount or a minimum of Rs.10,000 as processing fee.
- Pay higher principal amount earlier in the tenure, thereby reducing your EMI every month.
- No repayment charges.
Axis Bank Power Advantage Home Loan Processing Fees
- Processing fee is 1% of the loan amount availed, subject to a minimum of Rs.10,000.
- Interest rate during the initial two years will be fixed rate of interest and the balance of the loan tenure will be under the floating rate of interest.
- You can choose to select the loan under the PMAY scheme.
- Loan offered for the purpose of purchasing ready/ under-construction/resale/self-construction/plot + construction of home.
Axis Bank Shubh Aarambh Home Loan Processing Fees
- Bank charges 1% of the loan amount or Rs.10,000, whichever is higher, as processing fee.
- By maintaining a clean track record, the bank offers to waive off 12 EMIs (4 EMIs every 4 years).
- Loan amount: Maximum of Rs.30 lakh.
- Lesser documentation.
- Additional benefit of PMAY scheme.
Axis Bank Fast Forward Home Loan Processing Fees
- Processing fee under this loan is 1% of the loan amount (minimum of Rs.10,000).
- No prepayment charges.
- Loan amount: Minimum of Rs.30 lakh.
- Get 12 EMIs of your home loan waived at no extra cost.
- Upon completion of 10 years of your home loan, you're eligible for a waiver of 6 EMIs and the next 6 EMIs will be waived after the completion of 15 years.
Axis Bank Asha Home Loan Processing Fees
- Axis Bank charges 1% of the loan amount or a minimum of Rs.10,000 as processing fee.
- Loan amount: Up to 90% of the property value (minimum of Rs.1 lakh and maximum of Rs.50 lakh).
- 12 EMIs waiver benefit.
- 4 EMIs waived off at the end of the fourth, eighth and twelfth year of the housing loan.
Axis Bank Empower Home Loan Processing Fees
- Bank levied 1% of the loan amount or a minimum of Rs.10,000 as processing fee.
- Loan amount: Minimum of Rs.10 lakh and maximum of Rs.1.5 crore.
- Subject to good payment records, the bank offers to reduce the home loan rate at of 24, 36, and 60 months.
- Rate of interest: Please check Axis Bank's official website at axis.bank.in for the current Empower Home Loan interest rate.
- No prepayment charges.
Axis Bank Super Saver Home Loan Processing Fees
- Axis Bank charges 1% of the loan amount or Rs.10,000, whichever is higher as processing fees towards the Super Saver Home Loan.
- After the loan amount is disbursed, the principal amount reduces as you deposit any amount in the Super Saver account.
- Rate of interest applicable only on the net principal outstanding amount.
- You can also withdraw the excess funds from the Super Saver account.
- Loan tenure: Maximum of 20 years.
- No prepayment charges.
Axis Bank Top-Up Home Loan Processing Fees
- The processing fee is 1% of the loan amount, subject to a minimum of Rs.10,000.
- Top-up loan of up to Rs.50 lakh against the mortgage of your house.
- Loan can be availed for the purpose of construction of a house or commercial property, personal use or even for the purpose of business.
FAQs on Axis Bank Home Loans Processing Fees & Charges
1.What is the processing fee for an Axis Bank Home Loan?
Axis Bank charges a home loan processing fee as a percentage of the loan amount, subject to a minimum rupee amount, plus applicable taxes. The exact percentage and minimum charge are listed in the fees table above and can vary slightly by loan variant. An upfront portion is collected at application, with the balance collected at disbursement.
2.Do all Axis Bank Home Loan variants have the same processing fee?
Most Axis Bank Home Loan variants, including QuikPay, Power Advantage, Fast Forward, Empower, Super Saver and Top-Up, follow a similar processing fee structure. Some variants, such as Asha Home Loan, may have a slightly different fee range. Check the relevant loan variant section above for exact details.
3.What other charges apply to an Axis Bank Home Loan besides the processing fee?
Axis Bank levies several other charges on a home loan, including penal interest on overdue instalments, rate-switching fees, and charges for duplicate documents. These charges are listed in the Other Charges table above. Charges are revised periodically, so always check the latest figures before applying.
4.What is penal interest on an Axis Bank Home Loan?
Penal interest is an additional charge Axis Bank levies on overdue home loan instalments, over and above the regular interest rate. The applicable penal interest rate and any cap on it are listed in the charges table above. It applies only to the overdue amount, not the full outstanding loan.
5.What are switching fees on an Axis Bank Home Loan?
Switching fees are charged when a borrower moves an Axis Bank home loan from one interest rate type or slab to another, such as from a floating to a fixed rate. The fee varies by the type of switch and is listed in the charges table above. Some switches are charged as a percentage of the outstanding principal, while others follow a fixed-amount slab.
6. Can I part-prepay my Axis Bank home loan? What charges apply?
Yes, Axis Bank allows part-prepayment of a home loan. Floating-rate loans generally attract no prepayment charge, while fixed-rate loans attract a charge based on the outstanding principal, as listed in the charges table above.
7.Can I foreclose my Axis Bank home loan? What are the charges?
Yes, an Axis Bank home loan can be foreclosed once all outstanding dues are cleared. You need to submit a request at an Axis Bank loan centre to begin the process. Foreclosure charges are the same as prepayment charges and are listed in the charges table above.
8.What are the ways to apply for an Axis Bank Home Loan?
You can apply for an Axis Bank Home Loan online, through the bank's customer care, or by visiting a branch. Applying online typically involves uploading your documents digitally for faster processing. Applicants must pay the processing fee at the time of application.
9.What criteria does Axis Bank check for home loan eligibility?
Axis Bank evaluates a home loan applicant's income, age, number of dependants, assets and liabilities, and the stability and continuity of employment or business. Both salaried and self-employed individuals can apply. Meeting these criteria improves the chances of an Axis Bank home loan being approved.
10.What types of home loan interest rates does Axis Bank offer?
Axis Bank offers home loans on both floating and fixed interest rate options. A fixed rate stays constant through the loan tenure, while a floating rate changes when the bank revises its lending benchmark. Borrowers can choose the option that suits their risk appetite.
11.Can I apply for an Axis Bank Home Loan with a co-applicant?
Yes, Axis Bank allows you to apply for a home loan with a co-applicant, particularly if that person is also a co-owner of the property. If you are the sole owner, an immediate family member can be added as a co-applicant. Adding a co-applicant can also improve home loan eligibility.
12.Are there tax benefits on an Axis Bank Home Loan?
Yes, resident Indian borrowers can claim tax benefits on both the principal and interest components of an Axis Bank home loan under the Income Tax Act. These benefits apply to eligible self-occupied and let-out properties. Consult a tax advisor for benefits specific to your situation.
13.What is Axis Bank's MCLR?
The Marginal Cost of Lending Rate (MCLR) is a tenure-linked benchmark rate that Axis Bank reviews and publishes periodically. Floating-rate Axis Bank home loans linked to the MCLR change when the bank revises it. The current MCLR is available on Axis Bank's official website.
14.What is pre-EMI interest on an Axis Bank Home Loan?
Pre-EMI is the interest-only component payable each month from the time an Axis Bank home loan is disbursed until regular EMI payments begin. It does not include any principal repayment. Pre-EMI is common for under-construction properties where the loan is disbursed in stages.
15.Can I start paying EMIs if Axis Bank has disbursed only part of my home loan?
Yes, you can opt to start paying EMIs even after partial disbursement of your Axis Bank home loan. Since only part of the loan amount has been disbursed, the interest component of the EMI will be lower than the full EMI. This option is common for loans linked to under-construction properties.
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