Axis Bank Asha Home Loan

Axis Bank Asha home loan is a convenient scheme offered to all those who aspire to own a home of their own. Coming straight from the house of Axis Bank, the Asha home loan comes with a bunch of unique benefits and flexible options to make it even easier for the borrower to fulfill their dream of buying a home. Asha home loan interest rate starts at 10.05% per annum for salaried and at 11.50% per annum for self-employed applicants. The maximum repayment tenure for Asha home loan is up to 30 years, and the maximum loan amount an applicant can expect is up to Rs. 35 lakhs or up to 90% of the property cost. Axis Asha home loan is a perfect housing loan scheme for those who wish to either buy a ready-to-move-in or under-construction home. Those who wish to renovate, extend, or improve their existing abode can also apply for an Axis Asha home loan at affordable rates.

Axis Asha Home Loan EMI Calculator

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Axis Bank Asha Home Loan Key Highlights

Get the lowest interest rates with Axis Asha Home Loan

Loan Amount Up to Rs. 35 lakhs
Rate of Interest Starts at 10.05% per annum
RPLR
Processing Fee

1.00% of the loan amount (Min.: Rs. 10,000 + GST)

Maximum Tenure for Repayment 30 years
Penal Rate of Interest
Rate Packages Floater/ Fixed
Charges for Prepayment/Foreclosure Floater: Nil | Fixed: 2% + applicable taxes on the outstanding principal amount

Axis Bank Asha Home Loan Interest Rates in 2024

Axis Bank offers a variety of home loans to aspiring homeowners at low-interest rates. The interest rate for Axis Asha Bank home loan starts at 10.05% per annum for salaried and at 11.50% per annum for self-employed applicants, respectively. The table below shows the current Axis Bank Asha home loan interest rate 2023:

Loan Slab Interest Rate for Home Loan
Floater Plan (For Salaried) Starting at 10.05% per annum 
Floater Plan (For Self Employed) Starting at 11.50% per annum 
Fixed Plan (For Salaried) Starting at 10.05% per annum 
Fixed Plan (For Self Employed) Starting at 11.50% per annum 

Interest rates were last updated on 27th September 2023

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Asha Home Loan Eligibility Criteria

It is not at all difficult to get an Asha home loan approval from the Axis Bank. The Axis Asha home loan eligibility criteria are based on general parameters such as age, nationality, employment status, minimum income earned and work experience. The table below highlights all the Axis Asha home loan eligibility parameters:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 21 - 65 Years 21 - 65 Years
Nationality Indian Resident Indian Resident
Minimum Income Earned Rs. 8,000 per month Rs. 8,000 per month

Axis Bank Asha Home Loan Processing Fee and Charges

Axis Bank Asha home loan processing fee is a nominal 1% of the outstanding principal subject to a minimum of Rs. 10,000 for each home loan application. Besides, Axis Bank also charges for some other parameters like CERSAI, swapping, cheque return, and so on. The table below highlights the fees levied by Axis Bank on housing loan schemes:

 

Processing Fee

1.00% of the loan amount (Min.: Rs. 10,000 + GST)

Penal Interest Rate

24% per annum or 12% per month

Swap Charges(Instrument/ Cheque)

Rs. 500 per instance 

Cheque Return

Rs. 500 per instance

Duplicate No-Objection Certificate Issuance

Rs. 500 per instance

Credit Report Issuance

Rs. 50 per instance

CERSAI
  • Rs. 50 for loans =< Rs. 5 lakhs
  • Rs. 100 > Rs. 5 lakhs
Switching Fees
  • Floater to Fixed: 1% of the outstanding principal amount (Max. Rs 10,000)
  • Fixed to Floater: 2% of the outstanding principal amount
  • Higher Floater to Lower Floater: 0.5% of the outstanding principal amount (Min. Rs. 10,000)
Duplicate Amortisation Schedule Issuance

Rs. 250 per instance

Foreclosure/ Prepayment Charges
  • Floater: Nil
  • Fixed: 2% + applicable taxes on the outstanding principal amount
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Asha Home Loan Scheme

Axis Bank proudly offers a plethora of housing loan schemes, helping people buy, construct, renovate, extend, and improve homes.

Asha Home Loan

  • Ideal home loan scheme to purchase an under-construction, ready-to-move-in or resale home, repair, extend or self-construct a home
  • 90% LTV or Loan to Property Value
  • Affordable Interest Rates
  • Minimum loan amount starting at Rs. 1 lakh
  • 12 EMIs Waived Off

Note: All of the above home loan plans are made available to applicants solely at the discretion of Axis Bank, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required For Axis Asha Home Loan

Axis Bank is known for providing hassle-free housing loans to aspiring homeowners PAN-India. It doesn't ask for complicated but general KYC documents for loan processing. The Axis Bank Asha home loan documents required list is shared below for your reference:

Documents Required for Salaried Applicants

Proof of Income
  • Salary slips for the last 3 months
  • Form 16
  • Latest Income Tax Returns 
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Axis Bank Asha Home Loans

Documents Required for Self-Employed Applicants

Proof of Income
  • Business Address Proof
  • Professional Practice License 
  • Profit and Loss Account Statements for the last year attested by a CA
  • Balance sheet for the past 3  years
  • Latest ITR/ Form 16
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Axis Bank Asha Home Loans

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card

Documents Related to Property
  • Sale Deed, Allotment Letter
  • Certificate of Occupancy
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Registered Development Agreement of the builder
  • NOC (No Object Certificate from the builder or the housing society)

Interest rates were last updated on 15 July 2023

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How to Apply for an Axis Asha Home Loan?

The Axis Asha home loan apply procedure is very simple and straightforward, and for it, you must follow the procedure mentioned below:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name and contact details and submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find Axis Bank Home Loan Offices Near You

If you are planning to visit one of the offices of Axis Bank Home Loans near you to understand the Axis Bank Asha Loan Offer in detail and apply for the Home Loan, you can simply fill in the Free Consultation form, and the team of BASIC Home Loan will reach out to you for needful assistance in the process.

Disclaimer:

For the latest Home Loan Interest rates and updates in Eligibility criteria, Home Loan offers, Home Loan application Fee and Charges, Required Documents, and other FAQs related to Home Loans, please refer to the official website of Axis Bank Home Loans.

FAQs

The processing fee under the Asha home loan Axis Bank is up to 1% of the loan amount, subject to a minimum of Rs. 10,000 plus GST.

The maximum loan amount for an Axis Asha bank home loan is up to Rs. 35 lakhs. Eligible applicants may fetch up to 90% of the property cost as the loan amount.

The current interest rate of the Asha home loan starts at 10.05% per annum for salaried and 11.50% per annum for the self-employed. However, we recommend you verify the same from the bank's official website.

Axis Bank may take 5 to 7 days for Asha home loan disbursement provided the applicant has submitted all the required documents and a processing fee cheque.

Axis Bank doesn't charge anything for prepayment on floater plans, but it charges up to 2% of the outstanding amount for fixed Asha home loan plans.

To get an Axis Asha Bank Home Loan, an applicant must be at least 21 years old and 65 years old at the time of the loan maturity.

Asha Home Loan is an exciting scheme offered by the Axis Bank to help potential homeowners buy a new home or improve their existing home with adequate financial funds. The maximum loan amount an eligible applicant can fetch in an Axis Asha Home Loan is up to Rs. 35 lakhs based on certain criteria.

The Axis Asha Bank home loan processing fee is not refundable under any circumstances.