Axis Bank

Asha Home Loan


Convert your dream of owning a home for your family into a reality with our Asha Home Loans.
Buying your first home is always special. We understand what your Home loan needs are and hence we have a tailor made Home loan product specifically for you to fulfil your dream of owning a home.
Under Asha Home loans, you can avail a Home loan up to Rs 25 lakhs.

Features & Benefits

Loan for the purpose of Buying a home or constructing your own house: Home Loans for purchasing a ready, under construction or a resale property. We also extend loans if you wish to purchase a plot and construct a house thereon or a loan for constructing a house on a plot already owned by you.
Loan Tenure up to 30 years giving you a higher eligibility. Loan amount starting from Rs 1 lakh: Need a smaller loan for fulfilling your dream? Apply for a Home loan with a minimum loan of Rs. 1 Lakh with us. Need a smaller loan for fulfilling your dream? Apply for a Home loan with a minimum loan of Rs. 1 Lakh with us.
Loan amount up to 90% of the property value: For loans up to Rs 20 lakhs, you need to just pay 10% of the property value and we shall FUNDthe remaining 90%.
Loans for home, big or small: A home is never small. Get Home Loans for properties starting from 325 (saleable) sqft area.
Attractive Interest Rates: We offer you Home Loans at very attractive interest rates so that your Home Loan doesn’t feel like a burden.
Minimum combined income of Rs 8000 p.m: Now your spouse, parents and children can also contribute in fulfilling your dream. You can apply for a loan if the combined income is at least Rs 8000 p.m./10000 p.m. depending upon your location.
Hassle free balance transfer facility: Tired of paying high interest rate on your existing Home loan with another FINANCIER? Transfer your Home Loan to us easily at an attractive interest rate. Transferring an existing loan to us is even simpler if you have a good repayment track record.
Customised products giving you a better eligibility based on your banking behaviour.
Widespread: Choose from our large base of approved projects across the country.

Faq's

What is Asha Home Loans?
Asha Home loan is a tailor-made product specifically designed for our customers who are buying their first house. Through Asha Home loans it is our endeavour to fulfil the dreams of individuals like you to own a house. The product is designed to cater to even your most basic Home Loan requirements whether it is property area (unit size), loan amount or attractive rate of interest. Also, through Asha Home Loans we ensure that your monthly income or profession does not get in the way of you owning a house by offering customised loan variants based on your banking behaviour or previous repayment track.

Why should I choose Axis Bank?
Axis Bank is one of the preferred financial services providers in the country. Axis Bank is also one of the largest players in the Home Loan industry. Over the years we have developed a bouquet of product offerings in order to cater to the home loan requirements across all customer segments. We have our presence across the country and customers can choose from our large base of approved projects. The attractive interest rates and minimal processing fees make our home finance products a first choice. In addition, features such as flexible tenures, transparent processing and quick service have made our products stand out among the best home loans in India.

For what purposes can I avail a Home Loan under Asha Home Loans?
With Asha Home Loans, you can avail a Home Loan for purchasing a ready, under construction or a resale property. You can also avail a Home loan for purchasing a plot and constructing a House thereon, or get a loan for constructing a house on a plot already owned.

What is the maximum tenure option I can avail under Asha Home Loans?
The maximum tenure under Asha Home Loans is 30 years for salaried and self-employed customers, subject to age of the borrower not exceeding 60 years or 65 years respectively at loan maturity.

Under Asha Home Loans, can I avail the loan under fixed rate option?
Yes, the facility is extended under floating as well as fixed rate options.

Can I avail a Home Loan at fixed rate with tenure of 27 yrs?
Fixed rate loans can only be offered if loan is availed for tenure of not exceeding 20 years.

What is the maximum loan amount I can avail under Asha Home Loans?
You can avail a Home loan up to:
Rs 25 lakhs for buying a property in a location with population over 10 lakhs*
Rs 15 lakhs for buying a property in a location with population up to 10 lakhs* (population as per census 2011)

Can I get a loan to purchasea house with an area of 350 sqft (saleable)?
Yes, we extend loans for property area starting from 325 sqft.

What is the maximum loan as a percentage to the property value permissible under Asha Home loans?
For loans up to Rs. 20 Lakhs – 90% of documented cost or Market Value (whichever is lower)
For loans greater than Rs. 20 Lakhs & up to Rs. 25 Lakhs – 85% of documented cost subject to 80% of the market value

I am a salaried individual and I get my monthly salary in cash. Can I avail a Home Loan?
Yes. We can extend Home Loans to salaried individuals receiving their salary in cash. For more details please contact our Customer Care centre or nearest Asset Sales Centre.

I have an existing Home Loan with another financial institution. However, the rate of interest is very high. Can I transfer my loan to Axis Bank?
Yes, we takeover loans from other Banks & FIs at attractive rate of interest. We also takeover loans based on the repayment track record of the customer with simple documentation.

What are the documents that I need to submit for availing a loan under Asha Home Loans?
Application form with a photograph of the applicant and co-applicant
Identity, address, signature and age proof
Copy of PAN Card or Form 60 of applicant /co-applicant
6 months bank statements
Proof of income

What is Part Disbursement?
Loan sanctioned for under construction property is disbursed in instalments. These disbursements in instalment are called as Part / Subsequent Disbursement.
You will need to make a request to the Bank for the part disbursement

How do I take my next disbursement?
You will need to submit request for part disbursement to the Bank along with following documents.
Disbursal Request Form (DRF) filled and signed
Demand letter from the builder (in original)
Receipts of payments made to the builder/developer

Where will I get the Disbursement Request Form?
The Disbursement Request Form has been sent to you along with your Welcome Kit.

Where do I submit my part disbursement request to the Bank to make the disbursement?
You can submit the part disbursement requests using any of the following channel.
Contact our sales representative who has been liaising with you for your loan requirements
Visit any of the Loan Center (preferably from where you have taken loan) to submit your request along with the required documents

How much time does the Bank require to make the part disbursement?
The time taken by the Bank depends on the category in which your property falls. The Bank categorises any property into APF (Approved Project Facility) and Non APF. The time taken for processing by the Bank would be:
5 days - If the property part of Approved Project Facility
7 days - if the property not part of Approved Project Facility
We would however like to advise you to submit the disbursement request form as soon as the demand is raised by the builder.
How do I know if my property is part of the Approved Project Facility
You can check the list of Approved Projects on Axis Bank website under the Home Loan page.

Do I need to pay any amount to the builder prior to requesting part disbursement from the Bank?
Your Loan is sanctioned for a particular Loan to Property Value ratio. (E.g for a 25 lakhs property value, 20 lakhs loan will be sanctioned. i.e. 80% of the balance - 5 lakhs will be paid from your side for the property). If you have paid the balance amount towards the property upfront, then no further payment needs to be made from your side to the builder. If you have not paid the balance amount upfront then you will be required to make a payment to the builder at least as per above ratio.

What if construction progress is not as per the plan shared by builder/developer?
If the construction progress (as verified by the Bank) is not as per original plan, the Bank may disburse amount lesser than requested amount, or may not disburse.
Axis Bank retains the right to disbursement(s) of loan basis internal checks. Disbursement(s) is at the sole discretion of the Bank.

What if the part disbursement is the final instalment in the loan account?
In case the part disbursement requested is the final instalment, you will have to either pay premium for insurance policy or provide insurance policy insuring the property against loss by fire, earthquake, floods and other damages with Axis Bank as the beneficiary. When the policy is availed from the Bank, the premium amount will be deducted from the loan disbursement amount.

How will I get to know about the disbursement made by the Bank?
The Bank will send you a reminder via SMS on your registered mobile number as per bank's record.

What is Pre-EMI interest?
For a Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.

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