Axis Bank Loan Against Property
Axis Bank Loan Against Property (LAP) is a secure funding solution offering up to ₹5 crore at interest rates starting from 10.0% p.a., with repayment tenures up to 20 years. With LTV ratios up to 65% and zero foreclosure charges for individuals, it suits salaried, self-employed, and senior citizens.
Axis Bank Loan Against Property Online and Offline: Check Status and Know Eligibility and Required Documents
For people requiring significant money for personal or company use, a loan against property is excellent as it is guaranteed by putting a home or commercial property as collateral. Axis loan against property is one of the most sought-after choices for funding against property, as it has a reputation for open policies and easy application procedures. Additionally, it provides Lease Rental Discounting (LRD) for leased contracts based on the rental receipts that corporate tenants supply.
Axis Bank provides an overdraft facility on loans secured by real estate to meet working capital needs and correct cash flow imbalances. Many lenders take these criteria into account when calculating their Loan Against Property interest rates, even when the bank has not announced differential LAP interest rates based on the credit score, loan amount, loan tenure, occupation profile, etc. Using Axis Bank’s official website, you can directly apply for an Axis Bank loan secured by real estate. You can apply offline for a Loan Against Property by going to any Axis Bank branch.
Quick Overview of Axis Bank Loan Against Property
To fit different financing requirements, Axis Bank’s Loan Against Property (LAP) provides flexibility and reasonable rates. Loan amounts vary from ₹5 crores, based on the borrower’s profile and loan term. Axis loan against property interest rate starts from 10.0% to 11.5%. With Axis Bank’s up to 20-year terms, monthly EMI payments are reasonable. With an efficient loan disbursal system and an LTV ratio of up to 65%, Axis Bank’s LAP offers a consistent financing choice for salaried and self-employed people.
| Loan Amount | Up to ₹5 Crores |
| Interest Rate | 10.0% – 11.5% |
| Loan Tenure | Up to 20 years |
| Loan-to-Value (LTV) Ratio | Up to 65% |
| Eligibility | Salaried, Self-employed, Business Owners |
| Property Type for Collateral | Residential or Commercial |
| Processing Fee | 1% of the loan amount |
| Prepayment/Foreclosure Charges | Nil for individuals |
| Purpose of Loan | Personal or Business Use |
| Income Requirements | Stable income proof required |
| Documents Required | ID proof, Income proof, Property documents |
| Loan Disbursal Time | 7 – 10 working days |
| Margin Requirement | Based on LTV |
| Application Process | Online and Offline |
| Legal and Valuation Charges | Applicable based on property valuation |
Key Features of Axis Bank Loan Against Property
- Flexible Loan Options: Axis Bank offers a variety of loan options tailored to meet different financial needs and repayment capacities.
- Wide Range of Property Types: You can secure a loan against residential, commercial, or industrial properties, providing flexibility in property choices.
- Competitive Interest Rates: The bank provides loans at competitive interest rates, making it a cost-effective borrowing option.
- High Loan Amounts: Borrowers can avail of substantial loan amounts based on the value of their property, catering to large financial requirements.
- Simple Application Process: The loan application process is streamlined, ensuring quick and hassle-free approval for eligible borrowers.
- No Foreclosure Charges: Axis Bank allows pre-payment or foreclosure of the loan without any additional charges, offering repayment flexibility.
Eligibility Criteria for Axis Bank Loan Against Property
Axis Bank loans against property eligibility rules guarantee that a broad spectrum of applicants may qualify for the LAP. Provided they have a consistent income and can show they can repay the loan, salaried and self-employed people are qualified to apply.
- Age: Candidates must be between the ages of 21 and 60. Depending on the loan length, some loans have a maturity date of up to 65 years.
- Employment Status: Stable employment with a respectable company is crucial for salaried people. To be eligible, self-employed people must have a consistent source of income and have operated their businesses continuously for at least three years.
- Income: To repay the loan, the applicant must have a steady and enough source of income. Proof of income is frequently needed for evaluation.
- Property Requirement: Besides being free of any legal problems, the property being mortgaged should satisfy Axis Bank’s specifications for location, condition, and kind (such as residential or commercial).
- Credit Score: A minimum credit score of 650 is often required, though this may change depending on Axis Bank’s policies. A solid credit history is desirable.
Documentation Required for Axis Bank Loan Against Property
To confirm the name, income, and ownership of the given collateral, the Axis Bank needs to collect paperwork. The applicant’s profile determines somewhat different paperwork needs:
| Type of Individual | List of Documents |
| For Salaried | Duly filled loan application formSalary slips for the last 6 monthsForm 16 (income tax form), Two passport-size photographsAddress proof (utility bill, Aadhaar, etc.)Identity proof (Aadhaar card, PAN card, etc.)Property documents (sale deed, title deed, etc.)Income proof (bank statements, salary certificate), Valuation report of the propertyLegal scrutiny report |
| For Self-Employed | Duly filled loan application formIncome Tax Returns (ITR) for the last 3 yearsProfit and Loss account for the last 3 yearsBalance sheet for the last 3 yearsTwo passport-size photographsAddress proof (utility bill, Aadhaar, etc.)Identity proof (Aadhaar card, PAN card, etc.)Property documents (sale deed, title deed, etc.)Income proof (bank statements, business account statements), Valuation report of the propertyLegal scrutiny report |
| For Senior Citizens | A duly filled loan application form, two passport-size photographs, and address proof (utility bill, Aadhaar, etc.)Identity proof (Aadhaar card, PAN card, etc.)Property documents (sale deed, title deed, etc.)Income proof (pension statements, bank statements), Valuation report of the propertyLegal scrutiny report |
How to apply for an Axis Bank Loan Against Property?
Axis Bank offers online and offline channels for applying for a Loan Against Property, allowing applicants to choose their preferred method.
Online Process
Axis Bank offers an online application choice for a quick and easy approach:
Step 1: Visit the Axis Bank Website: Visit https://www.axisbank.com/retail/loans/loan-against-property-and-mortgages and click on the “Apply Now” option under the Loans section.
Step 2: Complete the Application Form: Add personal, financial, and real estate information.
Step 3: Upload required Documents: Send scanned versions of property records, income records, and ID evidence.
Step 4: Review and Submit: Review the specifics again and apply.
Step 5: Track the Application status: Once sent, applications may be seen on the Axis Bank website.
Branch Process (Offline)
Step 1: Visit the Nearest Branch: To start the application procedure, go to the Axis Bank branch nearest you and search for the closest branch.
Step 2: Gather the application form: Ask the branch for the loan application form. The team will answer any questions and walk you through the first steps.
Step 3: Complete the Form: Please complete the form completely and accurately to prevent processing delays. If necessary, the bank employees may be able to help you.
Step 4: Submit Documents: Give the branch officer the required paperwork, including proof of identity, proof of address, proof of property, and proof of income. For verification, make sure you have all the necessary originals and copies.
Step 5: Confirmation: The bank will perform a property valuation and paperwork verification. In this important step, the bank evaluates the property’s value and verifies the information provided.
Step 6: Payment: The loan amount will be credited to your account after all checks have been completed and the loan has been approved. This step completes the loan application procedure and releases funds for your use.
How to Check the Status of Axis Bank Loan Against Property
For anybody who would like personal assistance, Axis Bank’s offline approach is also easily available:
Step 1:Visit the official website: Visit the link- https://loantracker.axisbank.co.in/public_html/html_pages/LoanType.html?loan_type=Home%20Loan
Step 2: Enter your mobile number. Enter your mobile number to track the application.
Axis Bank Loan Against Property Interest Rate
For its Loan Against Property, Axis Bank has reasonable interest rates ranging from 10.0% to 11.5%. Loan duration, borrower profile, and loan amount affect the ultimate rate.
| Loan Amount | Interest Rate Range | Processing Fee |
| Up to ₹50 Lakh | 10.0% – 10.5% | 1% |
| Above ₹50 Lakh | 10.5% – 11.5% | 1% |
Axis Bank’s interest rates align with industry norms; hence, candidates with good credit records might be in better conditions. To get more clarity, you can use the Axis Bank loan against property EMI calculator.
Axis Bank Loan Against Property Balance Transfer
Axis Bank borrowers may use the balance transfer facility to move their current Axis Bank LAP rate from another bank to Axis Bank. This ability appeals to borrowers who want to reduce their EMI load by using Axis Bank’s affordable rates and flexible terms. The balance transfer procedure is simple, and little paperwork is needed. This alternative may be beneficial for debtors trying to lower their long-term interest expenses.
- Step 1: Go to the official website. Visit the official Axis Bank website. This website offers comprehensive resources and information about transferring a balance.
- Step 2: Select the Loan Type: Locate the loan section and choose “Loan Against Property.” This area contains all the information you require about the terms, conditions, and advantages of loan transfer.
- Step 3: Verify the Balance Transfer Option: Under the loan section, look for the balance transfer option. This will walk you through the particulars and prerequisites for moving your current loan to Axis Bank.
- Step 4: Complete the application. When filling out the online application, provide accurate personal and loan information. Accurate information guarantees a timely and effective processing of your application.
- Step 5: Upload the Necessary Documents: Upload the required paperwork, including your current lender’s No Objection Certificate (NOC), proof of identity, proof of address, and property records. The process of approval and verification depends on this paperwork.
- Step 6: Send in the Application: Please check all entered information for accuracy before applying. Your request is completed in this phase and submitted to the bank for processing.
- Step 7: Monitor the Application: The website allows you to monitor the progress of your balance transfer application. By keeping track of its status, you can determine when additional steps are needed and when the process will be finished.
Axis Bank Loan Against Property Foreclosure Charges
Axis Bank is in good condition for those who want to foreclose on their LAP. Since most individual debtors do not pay foreclosure fees, Axis Bank appeals to individuals who are thinking about early payback. A modest foreclosure charge of around 1% to 2% of the unpaid amount may apply to non-individual debtors.
| Borrower Type | Foreclosure Charge |
| Individual | Nil |
| Non-Individual | 1%-2% |
The lack of foreclosure fees for people motivates early repayment, free from extra expenses, therefore saving interest payments for the borrower.
Advantages of Axis Bank Loan Against Property
The Loan Against Property from Axis Bank has several benefits, which make it a tempting financing source:
- Flexible Tenure: Tenures of flexible loans allow for reasonable EMI payments ranging from ten to twenty years.
- High Loan Amounts: Designed for significant financial needs, loan eligibility ranges around ₹5 crores.
- Property Value: Borrowers can access up to 65% of the market value of their property.
- No Foreclosure Penalties: Individual borrowers have no prepayment or foreclosure penalties.
- Simple Fee Structure: The bank charges little and makes plain their policies plain.
Axis Bank LAP appeals to borrowers seeking flexibility and cost, as these characteristics make it a competitive choice in the secured loan market.
Comparison of Different Banks’ Interest Rates for Loans Against Property
Below is a comparison of Axis Bank’s LAP with similar offerings from other banks:
| Name of the Lender | Interest Rates |
| State Bank of India (SBI) | 10.00% – 11.30% |
| HDFC Bank | 9.50% – 11.00% |
| ICICI Bank | 10.85% – 12.50% |
| Axis Bank | 10.50% – 10.95% |
| Bank of Baroda | 10.85% – 16.50% |
| Punjab National Bank (PNB) | 10.40% – 12.75% |
| Kotak Mahindra Bank | 9.15% onwards |
| Union Bank of India | 10.45% – 13.10% |
| Bank of India | 11.25% onwards |
| Central Bank of India | 9.75% – 13.00% |
| Federal Bank | 12.60% onwards |
| Karur Vysya Bank | 10.20% – 12.95% |
| UCO Bank | 10.85% – 12.00% |
| IDFC First Bank | 9.00% – 16.50% |
| LIC Housing Finance | 9.50% – 11.55% |
| Bajaj Housing Finance | 9.75% – 18.00% |
The Axis Bank LAP loan interest rate benefits people looking to save money on EMI.
Loan Against Property from Axis Bank offers borrowers looking to release the value of their property a sensible financing option. Axis Bank’s LAP is meant to meet the financial demands of people and companies with competitive interest rates, flexible tenures, and a high loan-to-value ratio. For those needing significant money, Axis Bank’s LAP is a reliable option because of its simple application procedure, low cost, and advantageous foreclosure terms.
