Axis Bank

Axis Bank Loan against property

Get Details on Eligibility criteria, Documents, Interest Rates, EMI and Other Charges Charged by Axis Bank on Mortgage Loan Online.

LAP Rates for Axis Bank/Group company employees:

Loan Type	Applicable Pricing
LAP Term Loan	MCLR + 2.05% = 10.95%
LAP OD	MCLR + 2.30% = 11.20%

Processing Fess: 1% or Rs 5000 (whichever is higher)

Features and Benefits of LAP Axis Bank

Attractive interest rates
Balance Transfer facility available with additional finance
Doorstep service
Loan against property – Residential
Loan against property – Commercial
Loan for purchase of commercial property
Take-over of existing loan with additional refinance (Balance Transfer)
Lease Rental Discounting (LRD)

Marginal Cost Based Lending Rate – 8.85%

MCLR Reset frequency for Loan against property – Half Yearly

Base Rate – 9.25%

Loan against property interest rates Axis bank
Product Variant/Rate Slab	Applicable pricing For PSL cases	Applicable Pricing for non PSL cases
LAP Term Loans (Income Based, GTP, GPR)	MCLR + 2.30% = 11.20%	MCLR + 2.40% = 11.30%
LAP Term Loans (Surrogates – Banking, Repayment based)	MCLR + 2.55% = 11.45%	MCLR + 2.65% =11.55%
LAP Overdraft Against Property Loans – Residential & Commercial**	MCLR + 2.80% = 11.70%	MCLR + 3.90% = 11.80%

Eligibility Criteria for Axis Bank LAP:

Salaried Individuals:

• Any individual who is in permanent service in government or a reputed company
• The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation

Professionals:

• Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply
• The applicant should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Self-employed Individuals:

• Any individual filing Income Tax returns can apply
• The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Lease Rental Discounting (LRD):

• All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956. Funding will be done only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower.

Documents Required for Axis Bank Loan Against Property:
Document	Salaried Applicants	Other Applicants
Proof of identity	Voter’s ID card or driving license or PAN card or photo credit card or employee’s ID card, or defense or police or government department ID card	Voter’s ID card or driving license or PAN card or photo credit card
Proof of income	Latest salary slip showing all deductions or Form 16 along with recent salary certificate	IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence	Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement	Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address
Bank statement or pass book where salary or income is credited	Last 6 months	Last 6 months
Guarantor form	Optional	Optional
Lease Agreement	Copy of lease agreement required for all lease rental discounting cases	Copy of lease agreement required for all lease rental discounting cases