Axis Bank Home Loan in India
Owned home is a dream for most of us. Home loan plays a vital role in assisting us to materialize our dream. Without home loans, most of us cannot afford to buy our piece of paradise.
Home Loan is a long term financial commitment and hence to determine the right type of loan and to investigate terms is essential for any home buyer. Axis Bank Home Loan strives to offer affordable and flexible deal.
Rise in real estate prices must have pushed the house you coveted beyond your budget. The bank would put forward unsurpassed home loans to put it within reach. The striking features namely: attractive interest rates, minimal documentation, flexible tenures, doorstep service and nominal fees make their home finance products a first choice for savvy buyers. Transparent processing and speedy service have made Axis Home Loan the most appreciable financer of India.
Axis offers a loan deal to suit every budget, taste and need. Any proposed borrower can apply for Home Loan for the following purposes:
- Purchase of a new house/flat
- Purchase of a plot of land & construction of house thereon
- Construction of a house on plot of land already owned
- Extend/Renovate/Repair of a house or flat already owned by self
- Take-over / Balance Transfer / Refinance of existing housing loan
Axis Bank caters individual of all segments. The bank has its own stipulated method to evaluate aspirants’ axis home loan eligibility. The same basically depends on various factors such as income, employment status, other obligations, rate of interest offered, tenor and so on. This bank intends to present reasonable housing loans.
The bank finances maximum 85% of the property cost; yet there is a little constraint.
Maximum loan
- 85% of the cost of the property for Home Loans upto 20 lacs
- 80% of the cost of the property for Home Loans above 20 lacs
Home Loan may be applied for either individually or jointly. If an applicants’ spouse is an earning member, the borrower may club spouses’ income to increase the eligibility bracket.
While the bank try to keep paperwork and formalities to a minimum, some documents are obligatory to avail a housing loan. Axis Bank home loan will require documents that validate your identity, address, income and so on. Once on submission o the mentioned credentials, getting an Axis Bank loan are a quick and easy process.
The bank has a wide range of approved projects. However, it is not obligatory for the Bank to sanction a loan proposal considering the fact that the property comes under the approved projects. It shall be the sole decision of the Bank to authorize a proposal after taking into consideration, the credentials/credit worthiness of each of the customers.
The loan will be disbursed in full or in apposite installments, based on the requirement of funds and progress of construction.
A home loan borrower enjoys a tax benefit:
- Tax benefit on principal repayment under Section 80C
- Tax benefit on interest payment under Section 24
Nevertheless, you are always advised to do a comprehensive research before availing a home Loan.
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