Axis Bank Loan Against Property

Axis Bank Loan Against Property is a practical financial solution for individuals and businesses seeking substantial funds without selling their assets. With its competitive interest rates starting at 10.50% per annum, flexible tenure options of up to 20 years, and straightforward application process, Axis Bank LAP is an attractive choice for leveraging property equity to meet financial goals. 

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Axis Bank Loan Against Property Interest Rate

Axis Bank offers competitive interest rates on LAPs, designed to cater to both salaried and self-employed individuals seeking to leverage their property for financial needs. Axis loan against property interest rate for term loan and overdraft facilities priority sector LAP and non-priority sector LAP may vary. Axis Bank offers LAP only on a floater rate basis and there is no provision for a fixed rate. 

The table given below will now acquaint you with the Axis Bank LAP interest rate 2024:

Rate Package Rate of Interest
Floating Rate Priority Sector LAP Category 10.50% - 10.90% per annum 
Floating Rate Non-Priority Sector LAP Category 10.50% - 10.95% per annum 
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Axis Bank Loan Against Property Eligibility Criteria

Understanding the eligibility requirements is essential for prospective borrowers to assess whether or not they are eligible for a loan against property. These are factors like age, nationality, minimum income, and credit score that help lenders assess the credibility of a potential borrower for an LAP scheme. Axis Bank loan against property eligibility criteria is listed below for your quick reference:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 24 - 65 years 24 - 65 years
Nationality Indian Resident Indian Resident
Minimum Income Earned Rs. 30,000 per month Rs. 30,000 per month
Credit Score 750 and above (preferred) 750 and above (preferred)

Axis Bank Loan Against Property Fees and Charges

Axis Bank, like other financial institutions, imposes various fees and charges, including processing fees, prepayment penalties, valuation charges, and more. Understanding these fees upfront can help borrowers plan their finances better, and avoid any unexpected expenses during the loan tenure. 

Feel free to understand about Axis loan against property processing fees and other charges by having a look at the table below:

Processing Fee

1% of the loan amount or Rs. 10,000 (whichever is higher)

Cheque Bounce Charges

Rs. 339

CERSAI Charges
  • Loan Amount Up to Rs. 5 lakh: Rs. 50
  • Loan Amount Over Rs. 5 lakh: Rs. 100
Penal Interest

2% per month on the installments overdue

Duplicate No Dues Certificate

Rs. 50

Foreclosure Charges
  • Non-individuals/ individuals for business use: 3% foreclosure fee on outstanding principal
  • Individuals for non-business use: Nil
Part Payment
  • Up to 25% of the outstanding repaid in the quarter: Nil
  • Over 25% of outstanding repaid in a quarter: 3% charges on the excess amount repaid
  • Non-individuals: 3% part prepayment charge on outstanding 
  • Individuals for business use: 3% of the  outstanding principal
  • Individuals for non-business use: Nil
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Compare Interest Rates on Loan Against Property for Top Banks & NBFCs

When considering a Loan Against Property (LAP), comparing interest rates across various financial institutions is crucial for securing the most favourable terms. If you have already decided to apply for an Axis Bank LAP, comparing its interest rate and processing fee with other competing banks and NBFCs will help you make an informed decision:

Bank/ NBFC Name Rate of Interest Processing Fee
Axis Bank 10.40% - 12.75% p.a.  1% of the loan amount or Rs. 10,000 (whichever is higher) 
PNB Housing Finance 9.25% - 15.00% p.a.  2% of the loan amount + GST 
Indian Bank 10.00% - 12.75% p.a.  1% of the loan amount or Rs. 10,000 (whichever is higher) 
SBI 10.00% - 11.30% p.a.  1% of the loan amount 
ICICI Bank 10.85% - 12.50% p.a.  1.50% of the loan amount or Rs. 11,000 (whichever is higher) 
Bank of Baroda 10.85% - 18.60% p.a.  1% of the loan amount  
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Documents Required For Axis Bank Loan Against Property

When applying for a Loan Against Property (LAP) from Axis Bank, the documentation process is a critical step that ensures smooth and swift approval. Proper documentation not only verifies the borrower’s identity and financial stability but also establishes the property’s legitimacy and value. Documents required for loan against property Axis Bank for self-employed and salaried people are listed below:

1. For Salaried Loan Applicants

  • Address or Identity Proof: PAN Card, Passport, Voter ID Card, Aadhaar Card, etc.
  • Income Proof: Salary Slips for the last 6 months, Bank Account Statements for the last 6 months, Form 16 for the last 2 years
  • Date of Birth Proof: 10th Class Certificate, Passport, Driving License, Aadhaar Card, etc
  • Documents of Property: Approved Plan, Title Deeds, No Encumbrance Proof, and so on
  • Other Documents: Processing Fee Cheque, Duly-Filled Application Form, Appointment Letter/ Employment Contract, Own Contribution Proof, and Latest Passport Size Photographs

2. For Self-Employed Loan Applicants

  • Address or Identity Proof:  PAN Card, Passport, Aadhaar Card, and Voter ID Card
  • Income Proof: ITR for the last 2 years, P&L Balance Sheet, Tax Audit Report, Business Continuity Proof for the last 5 years, Personal and Business Account Statement for the last 6 months
  • Documents of Property: Approved Plan, Title Deeds, No Encumbrance Proof, etc.
  • Other Documents: Processing Fee Cheque, Recent Passport Size Photographs, Duly Filled Application Form, Own Contribution Proof, Declaration and Documents mentioning the end use of the loan, Partnership Deed if the business entity is in partnership, and the List of Stakeholders

How to Apply for an Axis Loan Against Property

One can proceed with an Axis loan against property apply online procedure in the following manner:

  1. Go to the official website of BASIC Home Loan and click on the Apply Now section
  2. Choose ‘Loan Against Property’ under ‘Tell us about your requirements’ on the next displayed page 
  3. Enter the required details such as your name, contact number, email ID, loan amount, and pincode and click ‘Next’
  4. The BASIC Home Loan team will then contact you for further process in applying for an Axis Home Loan Against Property 


Yes, Axis Bank gives a loan against property to salaried and self-employed applicants in terms of a basic loan against property, lease rental discounting, and overdraft facility against property. 

Applicants applying for a loan against property are required to submit the ITR of the previous 2 years with the application form. 

Axis Bank asks for a minimum of 750 CIBIL score to apply for a loan against the property scheme. 

The processing fees for Axis Bank Loan  Against Property is 1% of the loan amount or Rs. 10,000, whichever is higher in the respective case.

You can contact the BASIChomeloan team through their official website to apply for an Axis Bank loan against property or by visiting the bank's nearest branch. 

Yes, you can pay an extra EMI for a loan against property by paying charges for a prepayment while adhering to the terms and conditions of the lender.