Purchasing a home is an exciting and aspirational life milestone. But it also raises financial issues, especially home loan processing fees. If you are planning to take a housing loan from Axis Bank, you must know the Axis Bank home loan processing fee charges. It is up to 1% of the loan amount.
What is the Axis Home Loan Processing Fee?
The home loan processing fee in Axis Bank is up to 1% of the loan amount or Rs 10,000, whichever is higher, plus applicable GST. Here are a few more charges you must know.
Upfront Fee: An initial Rs 5,000 plus GST is collected at the time of application submission.
Balance Fee: The remaining processing fee is payable upon loan disbursement.
Non-Refundable: This fee covers the cost of reviewing your loan application and is non-refundable, regardless of the loan approval result.
Interest Rate Conversion Charges
Floating to Fixed Rate: 1% of the outstanding principal, with a minimum of Rs 10,000.
Fixed to Floating Rate: 2% of the outstanding principal.
I hope you found this helpful.
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A house loan processing charge pays for things like checking your bank records, evaluating your credit, and finishing the required paperwork. Axis Bank home loan processing charges are quite transparent and easy to understand.
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What is the Axis Bank Housing Loan Processing Fee?
A minimum of Rs. 10,000 is required, and the cost will not exceed 1% of the loan amount. A one-time processing charge of Rs. 10,000 + GST is needed for home loans at the application stage.
There are a number of Axis Bank home loan processing fee associated with applying for a house loan. Some of them are as follows;
| Type of charges |
Percentage |
Application fee |
0.25% - 0.5% |
Administrative fee |
0.1% - 0.2% |
Technical valuation fee |
Varies |
Legal fee |
Varies |
Documentation fee |
0.1% - 0.5% |
Stamp duty |
Varies by state |
Mortgage origination fee |
0.5% - 1% |
GST on processing fees |
As per GST applicable rates |
Pre-payment or foreclosure charges |
1% - 3% of outstanding loan |
Conversion fee |
0.5% -1% of the amount of loan |
Late payment fee |
1% -2% of overdue amount |
I believe this will help you with the Axis Bank processing fee for home loan.
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What is the Axis Bank Home Loan Processing Charges?
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2024-05-09T08:56:35+00:00 2024-08-06T15:05:05+00:00Comment
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