What is the rate of interest for loan against property in Axis Bank?
Table of Contents
- 1 What is the rate of interest for loan against property in Axis Bank?
- 2 Which banks offer loan against property?
- 3 What is the procedure of loan against property?
- 4 How much can you borrow against property?
- 5 How do I download the Axis Bank mobile app?
- 6 What is the prepayment penalty in case of Axis Bank loan?
What is the rate of interest for loan against property in Axis Bank?
8.75\%
Axis Bank offers loan against property at a rate of 8.75\% with the lowest EMI of ₹ 999. If you are currently paying a higher interest rate than Axis Bank rate, you can opt for a balance transfer of loan to Axis Bank.
What all documents are required for loan against property?
Documents Required for Property Loan
- Application form with a recent photograph.
- Proof of Identity (Passport Copy /Voter ID card /Driving License /PAN Card)
- Address Proof (Ration card /Telephone Bill /Electricity Bill /Rental agreement /Passport copy /Bank Passbook or Statement /Driving License)
Which banks offer loan against property?
Best Loan Against Property Schemes
| Bank | Interest Rate | Tenure |
|---|---|---|
| ICICI Bank | 8.35\% p.a. – 10.00\% p.a. | Up to 15 years |
| HDFC Bank | 8.00\% p.a. – 8.95\% p.a. | Up to 15 years |
| IDFC First | 8\% p.a. onwards | Up to 20 years |
| Tata Capital | 10.10\% p.a. onwards | Up to 15 years |
How can I get a loan against my property without proof of income?
7 Tips To Avail A Loan Against Property Without Income Proof
- Tip 1: Try Talking To Your Relationship Manager.
- Tip 2: Add A Co-Applicant.
- Tip 3: Explain Your Income Clearly To Your Officer.
- Tip 4: Justify Why You Do Not Have The Necessary Documents.
- Tip 5: Check Your Savings Bank Account.
- Tip 6: Choose Lower Loan To Value.
What is the procedure of loan against property?
How is a Loan Against Property processed?
- Start by filling out the application form.
- Confirm your details.
- Submit the necessary documents.
- Await the verification of the documents.
- Get the sanction letter from the lender.
- Await the property evaluation and legal check.
- Get the funds into your account.
How long does it take to process loan against property?
Once the entire verification process is wrapped up, your lender will proceed with the final disbursal. Lenders like Bajaj Finserv take only up to 72* hours to complete these processes and disburse the funds directly into your bank account.
How much can you borrow against property?
The maximum amount with a Loan against Property that an applicant can avail depends on the employment status. Self-employed individuals can avail an advance of up to Rs. 3.5 crore while the maximum loan limit for a salaried individual is Rs. 1 crore.
Can I get loan against property in Axis Bank?
Axis Bank Loan Against Property If you’re looking for funding and have a commercial or residential property which you can offer as collateral, then Axis Bank’s Loan against Property is just what you need. Axis Bank offers easy and hassle-free Loan against Property for a loan amount starting from Rs. 5 Lakhs.
How do I download the Axis Bank mobile app?
You can download the Axis Bank Mobile Application or log onto Internet banking to get access to all account details pertaining to the loan. SMS MBANK to 5676782 to download the Axis Mobile App Can I make a part-prepayment towards my Axis Bank Loan against property? Will any charge be applicable? Yes!
Why choose axaxis bank?
Axis Bank offers easy and hassle-free Loan against Property for a loan amount starting from Rs. 5 Lakhs. You can avail loan against residential or commercial properties at attractive rates of interest and earn eDGE Loyalty Reward points.
What is the prepayment penalty in case of Axis Bank loan?
In case of take-over/transfer of your loan from Axis Bank Limited by/to any other bank/housing finance company/financial institution, a prepayment penalty of 3\% on the principal outstanding will be recovered.