When you apply for an Axis Bank Home Loan there are a few basic steps you need to follow. They are given below:

To begin you need to visit your nearest Branch and fill up the physical Home Loan form.
 

1. Submit all necessary documents that include those related to KYC, Financial, and Property
2. Initiation of the home loan processing along with legal and technical verification
3. The eligibility of the loan applicant is determined first following which Axis Bank provides a sanction letter. Typically, it includes critical details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions
4. After completing the formalities of submitting necessary documents and raising a loan home loan disbursement request, Axis Bank will provide the loan applicant with a home loan disbursement cheque

When you seek to apply for an Axis Bank Home Loan it is necessary that you submit a few essential documents. They are given in the table below:

A major reason why you need to apply for an Axis Bank Home is that this financial institution provides flexible loan tenure and an attractive rate of interest. More importantly, Axis Bank provides you with a 100% smooth hassle-free ‘Digital’ loan application process.

Once the application form is filled out and all the necessary documents are submitted Axis Bank takes about 10-13 Days to sanction a home loan.

If you are looking to apply for an Axis Bank Home Loan then you need to have a minimum CIBIL score of 650.

The maximum home loan amounts sanctioned by Axis Bank are Rs 5 crore respectively.

It is not compulsory that you have a co-applicant while applying for an Axis Bank Home Loan. Moreover, having one helps in significantly improving your loan eligibility thereby proving to your lender that you are ‘Creditworthy’ and chances to improve terms and conditions.

Depending on the type the rate of interest on Axis Bank Home Loan will change during tenure. So, if you opt for a floating interest rate then it will change frequently. However, if you choose a fixed interest rate then, it is less likely that it will change during the loan tenure.

It becomes easier to apply and secure an Axis Bank Home Loan if you have three financial years returns to exhibit as proof. However, even if you do not possess IT returns you can get an Axis Bank Home Loan, provided you borrow a small amount and also have a good CIBIL score to prove your ‘Creditworthiness’.

Once you get a sanction letter from Axis Bank for a home loan it will get disbursed in about one or two weeks.

1. Different types of AXIS Bank home loans

   There are mainly 7 types of home loans that AXIS Bank offers. They are as follows:

   1. AXIS Bank QuickPay Home Loan:

      In this loan scheme, the AXIS Bank offers the individual an opportunity to pay a higher principal loan amount in the early part of the tenure. Also, you will through this program help reduce monthly installments over some time and save a huge amount on interest rates.

   2. Asha Home Loan:

      It is a home loan program offered by AXIS Bank in which any individual be it a salaried, professional, or self-employed. Possessing a combined income in the range of Rs 8,000 to Rs 30,000 can take a loan for a tenure of 30 years. Typically, the loan amount sanctioned in this scheme will range from Rs 1,00,000 – Rs 28,00,000.

   3. Shubh Aarambh Home Loan:

      This home loan scheme of AXIS Bank is for amounts up to Rs 30 lakhs with tenure extending to about 20 years. The benefit of this program is that the applicant can get 12 EMI’s off which will help save Rs 3.09 to Rs 30 lakh home loan.

   4. Super Saver Home Loan:

      Under the AXIS Bank Home Loan scheme called Super Save the minimum amount you can borrow is Rs 50 lakh. Typically, you can use this scheme to save on interest while you use them as and when needed. There are no prepayment fees and there is a minimal processing fee applicable in this scheme.

   5. Empower Home Loan:

      One of the unique features of this AXIS Bank scheme is that you are guaranteed rate reductions. Provided you maintain a good repayment record on your home loan EMI for 24, 36, and 60 months.

   6. Axis Bank Fast Forward Home Loan:

      This is the latest Home loan product provided by AXIS Bank which gives the borrower a chance to pay for 12 EMI’s less on a loan tenure of 20 years.

   7. Axis Bank Regular Home Loan:

      In this home loan scheme, you can secure a minimum home loan of Rs three lakhs. The maximum amount you can get depends on your repayment capacity and income.

2. Factors affecting Axis Bank Home Loan:

   Like most home loans there are a few factors that have a direct impact on Axis Bank Home Loan. They are as follows:    Applicants profession profile i.e. salaried or self-employed  Credit or CIBIL score  Type of interest rates i.e. fixed or floating  Type of home loan programs

3. Axis Bank Home Loan Eligibility Rating as per CIBIL score:

   Given below is a table of the Axis Bank Home Loan Eligibility rating as per CIBIL score. It is as follows:

   Rating	CIBIL Score
   Good	750 and above
   Average	600 to 750
   Poor	Below 600