Axis Bank Home Loan Review| North Loop Official Blog
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North Loop
04 Sep 2020

Axis Bank Home Loan Review

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Axis Bank Background and Overview –

Axis Bank is a popular private sector bank with its head office in Mumbai, Maharashtra and a market capitalization of $32 billion. It has nine international offices and offers a wide range of financial services and products to individual consumers, corporates, small and medium-sized enterprises (SME’s), as well as retail businesses.

Axis Bank currently has 4000+ branches spanning across the country with nearly 17000+ ATMs and is the third-largest private sector bank in India. Its home loan process is also transparent, albeit a little exhausting given its long list of eligibility requirements and documentation.

Axis Bank Home Loan eligibility criteria –

The eligibility criteria to apply for Axis bank home loan is that you should be between 24 and 60 years of age. If you are an NRI, you should have a work experience of at least 6 months outside India and your minimum income should be $3000 per month.

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Axis Bank Home Loan Interest Rate –

The Axis Bank home loan interest rate starts at 9.6% and is a bit on the higher side as compared to other banks. While there are no prepayment and foreclosure charges and the turnaround time of the loan is also pretty good, the high Axis bank home loan interest rate is a deterrent for many. Other providers like North Loop provide an equally transparent home loan process at considerably lower rates. The benefits offered at North Loop far outweigh that of Axis Bank as well as other Indian banks. You can read more about the North Loop home loan process here.

Documents required –

The documents required for availing an Axis Bank account home loan varies depending on your profession, income and loan amount. If you are a Non-Resident Indian, the documents required to apply for home loans are –

Copy of your passport

Valid visa

Employment letter

Salary proof of the last 3 months

Proof of current overseas residence

Bank account statement of NRE/NRO account of the last 6 months

General Power of Attorney

Axis Bank Home Loan Application Process –

To apply for home loans with Axis Bank, you have to schedule a meeting with one of their Loan Executives. All the various documents and other relevant proofs have to be arranged by you to be submitted with your application and after the sanction of your loan for approval, you have to submit further documents that are property related. Also, your home loan confirmation can be received by you only after further review by the Axis bank legal and technical staff. The process is not only inconvenient but also very slow-moving. You can expedite your entire home loan process by opting for a provider like North Loop. With North Loop, you get quick professional assistance, a user-focussed interface and home loans at the lowest interest rates and minimal documentation.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.