Usually, when you apply for an Axis Bank Mortgage Loan you need to follow the steps given below: 

1. Visit the nearest branch of Axis Bank and fill the mortgage laon form
2. Submit the necessary documents. Which include KYC, Financials, and Property documents
3.  The Mortgage Loan process is initiated along with legal and technical verification 
4.  Axis Bank then determines your loan eligibility and provides a sanction letter. Usually, it includes a few important 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 
5. Finally, after the Mortgage Loan disbursement request is raised after reviewing all the required documents, Axis Bank will issue you a disbursement cheque. 

There are a few necessary documents that you need to submit while applying for an Axis Bank Mortgage Loan. They are given in a table given below:

A major reason that you must choose Axis Bank Mortgage Loan is because they offer attractive lowest interest rates available, and provide for flexible EMI payment options. More importantly, Axis Bank brings Mortgage loans right to your doorstep.

After submitting all the necessary documents related to KYC, Financials, and Property, Axis Bank will usually sanction your mortgage loan in about 7 to 10 working days.

While applying for a Mortgage Loan you need to have a minimum CIBIL score of at least 700 to increase your chances of securing it.

The minimum Mortgage Loan amount sanctioned by Axis Bank is Rs 5 lakh, and the maximum is 5 Crore .

No, it is not necessary to have a co-applicant while applying for an Axis Bank Mortgage Loan. Moreover, having one only serves to improve your loan eligibility to show the lender your ‘Creditworthiness’.

The rate of interest for Axis Bank Mortgage Loan is floating interest rate which is linked to RLLR ( REPO LINKED LANDING RATE )
Therefore it will reused by the change every time the repo rates gets reused by the regulator

Having documents showing IT returns for three financial years improves your chances of getting an Axis Bank Mortgage Home Loan. Moreover, you can still get a Mortgage Loan sanctioned by Axis Bank if you do not have IT returns for three financial years. For that to become a possibility, you need to seek a small loan amount and need to have a good CIBIL score to show your ‘Creditworthiness’.

Usually, once you have applied for an Axis Bank Mortgage Loan and submitted the required documents, which are reviewed, it gets sanctioned in about 7 to 10 working days.

There are a few more additional details of Axis Bank Mortgage that you need to understand given below. They are as follows: 

1. What are the types of Axis Bank Mortgage Loans or Loan Against Property (LAP)?

   Usually, there are three types of Loan Against Property or LAP that Axis Bank provides. They are as follows: 

   1. Lease Rental Discounting:

      This LAP program enables taking loans against rental receipts from leased contracts of tenants from the corporate sector. A few basic details of this type of Axis Loan Against Property are as follows: 

      1. Loan amount: In the range of a minimum of Rs 5 lakh and a maximum of Rs 5 crore. 
      2. Tenure: Up to above 9 years 
      3. LTV Ratio: About 50% of the property value or 85% of the net present value of future rentals 
      4. Processing Fee: Rs 10,000 or 1% whichever is higher 

   2. Overdraft Facility Against Property:

      It is by balancing the cash flow mismatches and fulfilling working capital requirements that this LAP scheme functions. 

      1. Loan amount: Ranging from Rs 5 lakh to Rs 5 crore 
      2. Tenure: Up to 10 years 
      3. Renewal: As per the repayment schedule every twelve months 
      4. Processing Fee: 1% or Rs 10,000 whichever is higher 

2. Benefits of Axis Bank Mortgage Loan:

   There are several advantages that you can derive from using Axis Bank Mortgage Loan. They are as given below: 

   1. It offers you the option to refinance your mortgage loan when you require 
   2. On every Axis Bank Mortgage Loan disbursal, you get reward points