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Axis Bank Home Loans

The third largest private sector bank in India, Axis Bank offers a range of financial products and services to both resident Indian customers as well as the NRI and OCI population. These include services to both individuals and corporates across various businesses.

Company brief

Having commenced operations in 1994, the Bank has grown significantly with a footprint both within India and overseas. It has recorded a consistent growth and stable asset quality within a 5-year growth period.

Today, Axis Bank is a leader in its own right, with an impressive balance sheet size of Rs. 5,25,468 crore as on March 31, 2016. The home loans business too has expanded its reach, owing to the products available and the high service standards.

Geographic spread

Axis Bank has an expansive network of over 2904 branches (including extension counters) in India as on March 31, 2016. The domestic branch network consists of 2402 branches, while the overseas operations are currently at seven offices across the globe. These include branches in Singapore, Hong Kong, Dubai International Finance Centre (DIFC), Colombo and Shanghai, with representative offices at Dubai and Abu Dhabi as well.

In addition, the newly launched subsidiary, Axis Bank UK Ltd. also started banking operations this year.

Axis Bank Home Loan Product information

Let us take a look at the various Axis bank home loan products available at Axis Bank to suit every borrower’s needs:

  • Empower home loans, for self-employed individuals. This product offers instant loans on the basis of your banking track record. Further, ensuring a good repayment rack record once you have availed of the loan, you get three assured rate reductions from the Bank, which effectively brings down the cost of your home loan.
  • Balance transfer, to move an existing loan from any other bank or financial institution to Axis Bank. This option is typically availed of when a borrower wants to move to another lender for (one of) several reasons, which can include a better rate of interest, service levels, change in loan tenure etc.
  • Happy Ending home loans, wherein on paying EMIs regularly the Bank rewards you by waiving the last 12 EMIs. This not only brings down the cost, but also means that you can close your loan account that much sooner.
  • Asha home loans, which are aimed at those individuals buying their first home or property, or even looking at constructing your own home.
  • Super Saver home loans, a unique product that brings down the interest cost on your home loan, resulting in significant savings over the long term. Post loan disbursement, when you deposit any amount into the account, it will go towards reducing the principal outstanding. Consequently, interest will be charged on the net principal outstanding. Further, excess funds can also be withdrawn on requirement.

In addition Axis Bank also offers the below mentioned special products:

  • Home loans for women, at lower interest rates and better pricing overall.
  • Loans for NRIs and PIOs offer customised loan solutions with flexibility in repayment terms and conditions.
Loan application process

In addition to the traditional practice of contacting the branch either telephonically or by visiting a branch to avail of a home loan, you can apply for a home loan with Axis Bank online, from the convenience of your home or office.

For existing loan account holders, online access to your account is available 24/7.

Company financials

As per data released by Axis Bank, as at March 31, 2016 the operating profit was Rs. 16,104 crore, with a net profit of Rs. 8,224 crore. This is in keeping with the Bank’s year-on-year growth.

Additional information

Axis Bank home loans also reward the borrowers by offering attractive rewards points – known as eDGE loyalty points – from the time that the loan is availed of, and continues on each anniversary of the loan until loan closure. These points are extended to borrowers who opt for top-up loans.

Axis Bank also has a list of approved projects which are termed so after careful evaluation to benefit borrowers.

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