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AXIS Bank mortgage loan

Axis Bank provides the mortgage loans to take care of the Real Estate problems of the customers. This loan helps a customer with a purchase of a new or old house, home renovation and repair and even purchase of land.

The AXIS Bank mortgage loan has the following eligibility criteria: 

A. Salaried People:

I. An individual need to be in a permanent service either in the Government sector or private sector.

II. The applicant needs to be above the age of 24 during loan commencement and loan superannuation.

B. Professionals:

I. Professionals like doctors, CA, cost accountants, dentists, company secretary etc. can also apply for the loan.

II. The age of the applicant needs to be more than 24 years old during loan commencement and 65 years during loan maturity.

C. Self-employed individuals:

I. A person who files IT returns can apply.

II. The age of the applicant needs to be more than 24 years old during loan commencement and 65 years during loan maturity.

Also Read: Axis Bank Home Loan

The AXIS Bank mortgage loan requires the following documentation:

 Identity proof (voter ID, PAN card, driving license, photo credit card etc.).

 Income proof (Salaried: latest payslip/Form 16 with salary certificate| Other: 2 years IT returns and 2 years income computation which has to be verified by CA).

 Residence proof.

 Bank statement.

Loan limits:

The AXIS Bank mortgage loan provides a minimum loan of Rs. 1 lac and a maximum loan of Rs. 50 lacs.

Loan margins:

 15% for home loans.

 25% for renovation and home improvement.

The rate of Interest:

 Floating rate – 8.75% for loans up to 30 lacs and 9.25% for loans above 30 lacs.

 Fixed rate – 14% irrespective of the amount of the loan.