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Axis Bank Home Loan at lowest Interest Rate call now 9004839959

18 December, 2015
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Axis Bank Home Loan at lowest interest rate call now 9004839959

Axis Home Loan Interest Rate Overview call 9004839959 for more details

Axis Home Loan is a secured loan product where the lender provides finances for the purchase or construction of a residential/commercial property. One can also avail a Axis Bank housing loan lowest Interest rate to buy a plot of land and construct on it. Axis Bank housing loan lowest Interest rate are also issued to extend/ repair/ renovate/ alter a new or second-hand property.

Axis Bank home loan lowest Interest rate is taken by a borrower against the property/security to be bought. This is done by giving the banker a conditional ownership over the property i.e. if the borrower fails to pay back the loan, the banker can retrieve the lent money by selling the property for Axis Bank housing loan lowest Interest rate

Axis Bank home loan lowest Interest rate get the property valued independently and provide Axis Bank housing loan lowest Interest rate based on their estimated value. It is important to remember, however, that frequently their valuation is significantly lower than the actual cost and hence the requirement of the borrowers goes up for Axis Bank housing loan lowest Interest rate. Home loans like Axis Bank housing loan lowest Interest rate in Indian Banks are provided up to maximum of 80% (90% for loan amount below INR 20 lakhs) of the value of the house. Axis Bank housing loan lowest Interest rate are repaid using Equated Monthly Installments (EMIs) spread over a fixed tenure.

Axis Bank housing loan lowest Interest rate Brings You The Best Deals In Home Loans Using Its Extensive Network of Partner Banks. Call 9004839959 For A Home Loan Today to get Axis Bank housing loan lowest Interest rate

 

Axis Bank Home Loan Lowest Interest Rate Hoome Loan Eligibility Criteria:

Axis Bank home loan lowest Interest rate Home Loan eligibility depends upon various factors. A few of them are listed here –

Income – Your income determines the amount of home loan you are eligible for. Axis Bank housing loan lowest Interest rate Banks generally keep the EMI to income ratio at 0.45 to 0.50.

Tenure – The longer tenure you opt for, the more is your home loan eligibility and the lesser is your EMI for Axis Bank housing loan lowest Interest rate

Age – Your age will determine your home loan tenure and hence your eligibility for Axis Bank home loan lowest Interest rate

Interest Rate offered – Banks offer Fixed and Floating Rates of Interest. If your interest rates are on a lower side, then the loan eligibility will be higher in Axis Bank housing loan lowest Interest rate

CIBIL Score – Your credit report tells the bank about your repayment capacity and hence determines if you’re eligible for a loan of Axis Bank home loan lowest Interest rate

 

Axis Bank Home Loan Interest Rates:

Axis Bank Home Loan in India can primarily be classified into two based on interest rates: fixed rate and floating rate of interest.

 

Axis Bank Home Loan – Fixed Interest Rate:

Axis Bank housing loan lowest Interest rate Fixed interest rate refers to repayment of home loans in fixed equal installments over the entire period of the loan. In this case, the Axis Bank housing loan lowest interest rate doesn’t change with market fluctuations.

During the early part of the tenure, the monthly payments are used to service the interest and the principal is served in the later parts of the tenure in Axis Bank home loan lowest Interest rate.Very few lenders in India offer pure fixed rates where the rate of interest remains constant over the entire tenure for Axis Bank housing loan lowest Interest rateAxis Bank home loan lowest Interest rate have a reset clause of 3-5 years. If the borrower is certain that the rate of interest is the lowest in the market, only then should he opt for fixed rates of interest.

 

Benifits

Drawbacks

Interest rate remains fixed irrespective of market conditions The major drawback with fixed interest rates is that they ar usually 1-2.5 percentage points higher than the floating rate home loan.
A fixed-rate home loan is ideal for those who are good at budgeting and want a fixed monthly repayment schedule. If the interest rate decreases, the fixed rate home loan doesn’t get the benefit of reduced rates.

 

 

Axis Home Loan Floating Interest Rate

Axis Bank home loan lowest Interest rate Floating interest rate implies that the rate of interest will vary vary with market conditions. Axis Bank home loan lowest Interest rate of Axis Home loans on floating interest rates are tied to a base rate plus a floating element thereof. So, if the base rate varies, the floating interest rate also varies in Axis Bank Home Loans

The interest rates will depend on the base rate of the Axis bank. As and when the bank changes their base rate, the interest rate changes Axis Bank housing loan lowest Interest rate. The change can either be in terms of the EMI or the tenure. For example, if the bank increases their base rate, the customer could choose to increase his EMI or to increase his tenure. Or if the Axis Bank home loan lowest Interest rate decides to decrease their base rate, the customer can reduce his EMI or his tenure.

 

Benifits

Drawbacks

Floating rate home loans are cheaper. If you are getting a floating interest rate of 11.5 per cent while the fixed rate is 14 per cent, you still save money if the floating interest rate rises by up to 2.5 percentage points. The drawback with floating interest rates is the uneven nature of monthly installments.
Even if the floating rate goes over the fixed rate, it will be for a short duration. The interest rates will surely fall over a long period and bring savings. In conclusion, when it comes to choosing the interest rate, a majority of home loan borrowers go for floating rates.

 

In recent times, Axis Bank home Loan have come up with innovative home loan products like dual rate of interest. This is where the interest rate on loans remains fixed for initial 1-5 years and thereafter switches to a floating rate of interest.

But, it is up to the borrower to decide what suits him best. Before taking a decision, it is advisable to compare home loans from different lenders in detail with Axis Bank home loan lowest Interest rate

If you are thinking of buying a home and are looking at loan products, look no further. At Axis Bank home loan loan lowest Interest rate, we help you get the best deals on loans. 

Your EMI depends upon the interest rate which the bank charges you for Axis Bank home loan lowest Interest rate, the tenure of the loan as well as the loan amount. You can also alter the tenure and the interest rates to see how you can reduce the EMI or the tenure of loan in Axis Bank home loan lowest Interest rate

 

Axis Home Loan Application Fees and Charges:

Axis Bank home loan lowest Interest rate Home Loan Lenders levy some fees and charges at the time of loan sanctioning. It is important to make yourself aware of all these charges before you decide you finalize the deal.

Axis Bank home loan lowest Interest rate Processing Fee: This fee is charged by the bank for processing the home loan and is non-refundable. In case you decide not to take the loan from the bank, then the entire amount is forfeited. The amount for Axis Bank home loan lowest Interest rate generally varies in the range of 0.5 to 1% of the total home loan amount.

Payment of processing fees of Axis Bank home loan lowest Interest rate doesn’t mean that your loan is approved. You may have paid the processing fee for Axis Bank home loan lowest Interest rate but your loan could still not be sanctioned due to various other reasons. Therefore, before paying the processing fee for Axis Bank home loan lowest Interest rate, bargain on the amount and get it confirmed from the bank in writing.

Prepayment Fees for Axis Bank home loan lowest Interest rate: Prepayment fee comes in to play when one wants to prepay the home loan of Axis Bank home loan lowest Interest rate before the end of the tenure. Different banks have different charges so one should take the time out to know them. Few banks like Axis Bank home loan lowest Interest rate may offer no prepayment charges in case the prepayment is done from the borrower’s own sources. But in case the person is shifting the loan to a different lender, 

Also, according to the RBI norms, banks are not allowed to levy foreclosure charges on home loans anymore.

 

 

Applying for a New Home Loan in Axis Bank Home Loan

Buying a home is a dream come true for many of us. Rising interest rates are making it a rather expensive affair. Once you finalize on your property, 80% of the amount can be taken as a loan from Axis Bank home loan lowest Interest rate depending upon how much loan you are eligible for.

Axis Bank home loan lowest Interest rate Home loans can be repaid to the bank every month as equated monthly installments over the entire tenure of the loan. A part of this EMI goes towards repaying the principal component of the Axis Bank home loan lowest Interest rate and the other part goes towards paying the interest in Axis Bank home loan lowest Interest rate

The EMI is calculated on a reducing balance basis in Axis Bank home loan lowest Interest rate A reducing balance loan means that in the initial days of the loan, the interest component of the EMI is high. But gradually, as you keep on paying more EMIs, the interest component of the EMI goes down and the principal component increases towards the end of the tenure in Axis Bank home loan lowest Interest rate

Also, while you are going to take a home loan in Axis Bank home loan lowest Interest rate you need to decide, the type of interest rate you want to pay to the bank. Axis Bank home loan lowest Interest rate will offer you with an option of a fixed rate or a floating rate. Generally the floating interest rates are cheaper compared to the fixed rates.

 

Here are some factors to consider if you are a new home loan customer:

How should you choose your home loan while applying? in Axis Bank Home loan for Lowest Interest rate

Buying a home is dream for many and one should be cautious while looking out for a home loan lenders. The foremost thing to be kept in mind is that one should never finalize a lender purely on the basis of interest rates. Most of us believe the cheapest is the best for Axis Bank home loan lowest Interest rate. But actually, in addition to this, there are other things that should be kept in mind while finalizing home loans in Axis Bank home loan lowest Interest rate

 

Consider Home Loan Eligibility Factors for Axis Bank Home loans

Axis Bank home loan lowest Interest rate Banks have their own standards for calculating eligibility. Factors like age, annual income and loan tenures play an important role. You should do some shopping to check which bank is offering you a higher loan eligibility. Adding up your spouse’s income may be a good option to increase your eligibility in Axis Bank home loan lowest Interest rate

 

Home Loan Fixed or Floating Interest Rate in Axis Bank Home loans

A fixed interest rate in Axis Home loans means that you will have to pay same EMI over a period of time (it may be fixed for an entire tenure or it may be reset at fixed intervals). Floating interest rates in Axis Home loan may change at any given point of time, which may result increase or decrease in either your home loan EMI or your tenure in Axis Bank home loan lowest Interest rate. Consider your finances and repayment abilities before deciding on which interest rate to pick in Axis Bank home loan lowest Interest rate

 

Existing Home Loan Customers for Axis Bank Home loan :

Many existing home loan customers are coughing up high interest rates. If you’re amongst them, you should consider shifting your home loan from your existing lender to a new one like Axis Bank home loan lowest Interest rate. This facility is called a ‘balance transfer option’ and many banks offer this facility nowadays. Doing so will decrease the monthly EMI you are paying towards your loan and will bring in savings by Axis Bank home loan lowest Interest rate

If You Want To Save Money On Your Home Loan, Apply For A Home Loan Balance Transfer Right Here!

You should also consider shifting from the old BPLR system, where the interest rate constantly changes, to the new base rate system in Axis Bank home loan lowest Interest rate. This is more transparent than the previous one and ensures you don’t end up paying more unnecessarily.

 

Documents Required for Home Loan of Axis Bank Home loans

 

Salaried Customers

Self Employed Professionals

Self Employed Businessman

Application form with photograph

Application form with photograph

Application form with photograph

Identity and Residence Proof

Identity and Residence Proof

Identity and Residence Proof

Latest Salary-slip

Education Qualifications Certificate and Proof of business existence

Education Qualifications Certificate and Proof of business existence

Form 16

Last 3 years Income Tax returns (self and business)

Business profile

Last 6 months bank statements

Last 3 years Profit /Loss and Balance Sheet

Last 3 years Income Tax returns (self and business)

Last 3 years Profit /Loss and Balance Sheet

Processing fee cheque

Last 6 months bank statements

Last 6 months bank statements (self and business)

Processing fee cheque

Processing fee cheque

 

 

Axis Home Loan Balance Transfer 

One of our most popular products among Home owners, a Balance Transfer inAxis Bank home loan lowest Interest rate can help you get a better deal on your Home Loan thus enabling savings. You can also use a balance transfer to take a top up loan from a bank, which allows you to pay off your other loans by taking a consolidated loan from a bank like Axis Bank home loan lowest Interest rate.

 

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