Use Axis Bank Home Loan EMI Calculator Before Finalizing The Loan

A home loan from Axis Bank can continue up to 30 years which is subject to choice as per your repayment capacity. Since the time period for which your loan continues would require sincere payments, you must select it right. A loan EMI calculator can help you know the payments in advance so that you can select the tenure and loan amount as per the monthly installment you can easily pay.

How can you use a loan EMI calculator?

A loan calculator is the easiest way to know your payments. It helps in choosing the right deal by showing you the exact figure of the payments. The details required to check the details include the loan amount, tenure and the rate of interest. An EMI calculator lets you check the monthly installment, total interest outgo and the total repayment you will be liable to pay to Axis Bank or any other lender.

EMI- ₹17,167

Total Interest Outgo- ₹21,20,094

Total Amount (Interest+Principal)- ₹21,20,094

What is the eligibility required to apply for the loan?

If you are planning to apply for a home loan, you may check the eligibility for the same at Axis Bank. The criteria is different for a salaried applicant and a self-employed applicant.

Salaried Individuals:

  • If you are into permanent services in any Government or renowned company, you are eligible to avail the loan.
  • The age of the applicant should be 21 years at the time of loan commencement and upto 60 years at the time of loan maturity.

Self-employed Professionals:

  • Self-employed professionals such as doctors, engineers, dentists, architects, CA, management consultant, cost accountants and company secretary.
  • The applicant should be 21 years of age at the time of loan commencement and upto 65 years or less at the time of loan maturity.

Self-employed Individuals:

  • Your minimum age should be 21 years at the time of loan commencement and upto 65 years or less at the time of loan maturity.
  • Self-employed individuals filing income tax return (ITR).

What are the documents required to apply for the loan?

The list of documents you need to have to get the approval for the loan is mentioned here:

For salaried:

  • Valid Passport/Voter's ID/Driving License/PAN Card/Aadhar Card with Photograph
  • Latest 3 months salary slips/Certificate for fixed salary/Latest Form 16
  • Last 6 months Bank Statement/Passbook of the Salary Account
  • Latest Electricity Bill,Telephone Bill, Passport/Registered
  • Lease Agreement with a utility bill in the name of landlord

For self-employed:

  • Valid Passport/Voter's ID/Driving License/PAN Card/Aadhar Card with Photograph
  • IT returns for the last 2 years and computation of income for the last 2 years certified by a CA
  • Last 6 months Bank Statement for operative account both personal and business
  • Latest Electricity Bill/Utility Bill/Piped Gas Bill/Telephone Bill/Passport/Registered Lease Agreement with a utility bill in the name of landlord

Where can you apply for the loan?

You can either apply for the offline or online depending on your comfort level. The online procedure is less time consuming and more beneficial. The reason behind this is that in the online procedure, you can compare different loan deals before you apply at Axis Bank. If you find that Axis Bank is giving you the deal that you desire, you can apply for it online.