Apply Axis Bank Loan Against Property Online
Explore 2017 interest rates available for Axis bank loan against property. Check eligibility criteria, documents required and get instant approval.
Axis Bank Loan Against Property
Apply for Axis Bank's Loan Against Property through CreditNation. We will provide you a loan against your property. Be it commercial or residential. You can also apply for this loan and get the maximum benefits with CreditNation, if you need funds to acquire new property. A take-over of your existing loan with refinancing is also possible with Loan Against Property
- Attractive interest rates
- Doorstep service
- Loan against property - Residential
- Loan against property - Commercial
- Loan for purchase of commercial property
- Take-over of existing loan with additional refinance (Balance Transfer)
- Lease Rental Discounting (LRD)
Earn eDGE loyalty points on Axis Bank Loan Against Property-
When you take a loan against property through CreditNation:
- Earn 500 points if your disbursal is less than or equal to 25 lacs
- Earn 1250 points if your disbursal is greater than 25 lacs but less than or equal to 75 lacs
- Earn 2500 points if your disbursal is greater than 75 lacs
Axis Bank Loan Against Property Interest Rates:
| Type of Loan | Base Rate + Markup | Effective ROI (floating) |
|---|---|---|
| Loan Against Property | Base Rate + 3.30% | 13.15% |
| Purchase Of Commercial Property | Base Rate + 3.30% | 13.15% |
| Overdraft Facility Against Property | Base Rate + 4.30% | 14.15% |
| Lease Rental Discounting | Base Rate + 3.55% | 13.40% |
| Reverse Mortgage Loan | Base Rate + 2.05% | 11.90% |
| ** Base Rate - 9.85% | ||
The following are the Eligibility Criteria depending upon the income profile-
Axis Bank Loan Against Property for Salaried Individuals:
- Any individual who is in permanent service in government or a reputed company
- The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation
Axis Bank Loan Against Property Eligibility Criteria for Professionals:
- Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply
- The applicant should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
Axis Bank Loan Against Property Eligibility Criteria for Self-employed Individuals:
- Any individual filing Income Tax returns can apply
- The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
Lease Rental Discounting (LRD):
- All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956. Funding will be done only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower.
An application for an Loan Against Property loan should feature the following documents:
| Document | Salaried Applicants | Other Applicants |
|---|---|---|
| Proof of identity | Voter's ID card or driving license or PAN card or photo credit card or employee's ID card, or defense or police or government department ID card | Voter's ID card or driving license or PAN card or photo credit card |
| Proof of income | Latest salary slip showing all deductions or Form 16 along with recent salary certificate | IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA |
| Proof of residence | Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement | Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address |
| Bank statement or pass book where salary or income is credited | Last 6 months | Last 6 months |
| Guarantor form | Optional | Optional |
| Lease Agreement | Copy of lease agreement required for all lease rental discounting cases | Copy of lease agreement required for all lease rental discounting cases |
Schedule of Charges
| Scheme | Asset Power (Loan Against Property) | Dropline Overdraft Against Property / Commercial OD against Property | Loan Against Rent Receivables |
|---|---|---|---|
| Loan Processing Charges | 1% + Service tax as applicable | 1% + Service tax as applicable | 1% + Service tax as applicable |
| Pre- Prepayment/Foreclosure Charges | If any of the borrower is a non individual - 2% will be charged, if the amount pre-paid exceeds 25% of the principal outstanding during a quarter, otherwise no prepayment penalty. The quarter refers to calendar quarter. However no prepayment will be allowed in the first quarter after taking the loan. If all borrowers are individuals - Nil | Foreclosure charges: 2% will be charged on the limit set for the specific year in which the limit is being foreclosed. | If any of the borrower is a non individual - 2% will be charged, if the amount pre-paid exceeds 25% of the principal outstanding during a quarter, otherwise no prepayment penalty. The quarter refers to calendar quarter. However no prepayment will be allowed in the first quarter after taking the loan. If all borrowers are individuals - Nil |
| No Due Certificate | NA | NA | NA |
| Solvency Certificate | NA | NA | NA |
| Charges for Late Payment of EMI | Penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s | Penal interest @24% per annum i.e. @ 2% per month on the overdue amount/s | Penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s |
| Stamp Duty & other statutory charges | As per applicable laws of the state | As per applicable laws of the state | As per applicable laws of the state |
| Cheque Bounce Charges | Rs 500/- per instance | Rs 500/- per instance | Rs 500/- per instance |
| Cheque swapping charges | Rs. 500/- plus service tax as applicable | Rs. 500/- plus service tax as applicable | Rs. 500/- plus service tax as applicable |
| Duplicate statement issuance charges | Rs. 250/- per instance | Rs. 250/- per instance | Rs. 250/- per instance |
| Issuance charges for photocopy of title deeds | Rs 250/- per document set | Rs 250/- per document set | Rs 250/- per document set |
| Credit Report Issuance Charges | Rs. 50/- | Rs. 50/- | Rs. 50/- |
Copyright © 2020 – All rights reserved by CreditNation
Northern Lights e Business Private Limited - CIN: U74999HR2014PTC052621
Naini Fincap Limited - CIN: U65993DL1996PLC078302 (RBI Registered NBFC)