| Axis Bank Home Loan Balance Transfer Highlights | |
| Interest Rates | Floating rates: 8.75%-13.30% p.a.
Fixed rates: 14% p.a. |
| Loan Amount | Rs 1 lakh – Rs 5 crore |
| Repayment Tenure | Up to 30 years |
| Processing Fees | Up to 1% (Min. of Rs. 10,000) + GST |
Note: Interest rates as on 13th December 2024
Table of Contents
Axis Bank Home Loan Balance Transfer Interest Rates
The Axis Bank Home Loan interest rates for balance transfer facility starts from 8.75% p.a. The final interest rate offered for the HLBT facility depends on the borrower’s credit profile and the home loan scheme offered by the lender. The detailed breakup of the home loan balance transfer interest rates offered by Axis Bank are as follows:
Axis Bank Home Loans (Floating Interest Rates)
Axis Bank Home Loan Interest Rate For Bureau Score 751 and above
| Applicant Type | Interest Rate (p.a.) |
| Salaried | 8.75% p.a. |
| Self-employed | 9.10% p.a. |
Axis Bank Standard Home Loan Interest Rates
Vanilla Salaried (Home Loans including Plot)
| Bureau Score | Interest Rates (p.a.) |
| 751 and above | 8.75% |
| 700-750 | 9.50% |
| 700 and above | 9.65% |
| No Hit | 9.30% |
Axis Bank Asha Home Loans
| Type | Interest Rates (p.a.) | |
| Salaried | Self Employed | |
| Floating Rate | 10.50%-12.85% p.a. | 12.00%-13.30% p.a. |
Axis Bank Home Loans (Fixed Interest Rates)
Axis Bank offers fixed home loan interest rates at 14% p.a.
Compare Axis Bank Home Loan Balance Transfer Interest Rates with Other Lenders
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Check Eligibility |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| LIC Housing Finance | 8.50% - 11.25% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Check Eligibility |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Check Eligibility |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Check Eligibility |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Check Eligibility |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
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Fees and Charges for Axis Bank Home Loan Balance Transfer
Processing Fees
| Particulars | Applicable charges (exclusive of GST) |
| Processing Charges | Up to 1% of the loan amount, subject to a minimum of Rs. 10,000 |
Prepayment Charges
| Particulars | Applicable charges (exclusive of GST) |
| Prepayment Charges including part prepayment for floating rate loan | Nil |
| Prepayment Charges for a fixed-rate loan | 2% of the principal outstanding |
Other Charges for availing Axis Bank Home Loan Balance Transfer
| Particulars | Applicable charges (exclusive of GST) |
| Penal Interest Rate | 24% per annum, 2% per month |
| Switching Fees (Base Rate/BPLR to MCLR) | When the effective rate is to be kept the same – No fees When an effective rate is to be revised – 0.5% on the outstanding principal, with a minimum of Rs. 10,000 |
| Switching Fees (Floating Rate to Fixed Rate) | 1% on the outstanding principal with a minimum of 10,000/- |
| Switching Fees (Fixed Rate to Floating Rate) | 2% on the outstanding principal amount |
| Repayment Instruction/Cheque Return Charges | Rs. 500 per instance |
| Cheque/Instrument Swap Charges | Rs. 500 per instance |
| Duplicate Statement Issuance Charges | Rs. 250 per instance |
| Duplicate Amortization Schedule Issuance Charges | Rs. 250 per instance |
| Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | Rs. 250 per instance |
| CERSAI charges | For loans up to Rs. 5 lakh – Rs. 50 For loans above Rs. 5 lakh – Rs. 100 |
| Loan Cover/ Insurance | Compulsory |
Transfer your home loan @ 8.35% p.a. onwards Click Here
Eligibility Criteria for Axis Bank Home Loan Balance Transfer
The eligibility criteria set for Axis Bank Home loan balance transfer facility are as follows:
- Resident Indians aged between 21 and 60 years (65 years in case of self-employed borrowers) can avail this loan.
- Salaried borrowers working in the government or private sector, professionals such as doctors, dentists, engineers, architects, cost accountants, chartered accountants, management consultants, company secretaries, etc. and self-employed borrowers who are in business and have filed IT returns are eligible for availing the HLBT facility.
- The minimum loan amount should be Rs 3 lakh, while the maximum loan amount depends on the repayment capacity of the borrower.
Axis Bank Home Loan Balance Transfer Documents Required
The documents required for availing the Axis Bank HLBT facility are as follows:
- All the property documents held by the existing home loan lender
- Attested copy of loan statement
- Bank statements of last 12 months’ reflecting the EMIs deducted.
- No objection certificate (NOC) or consent letter from the existing lender
- Salary slips, Form 16, income statements and latest IT Returns
- KYC documents (Aadhaar, PAN Card, Passport, Driving licence, Voter id, etc.)
- Duly filled application form submitted to the new home loan lender.
Note: Axis Bank may ask those availing its home loan balance transfer facility to submit additional documents based on their borrowers’ credit profile.
Reduce Your Home Loan EMI with Balance Transfer Click Here
How to Apply for Axis Bank Home Loan Balance Transfer
Existing home loan borrowers of other lenders can apply for the Axis Bank Home Loan Balance Transfer Facility through the following process:
- Go to the official website of Axis Bank and select ‘Home Loans’ under the Retail section of the ‘Apply Now’ Tab of the website. Alternatively, you can visit the nearest branch or loan centre of Axis Bank to finalise the terms of your home loan. Those seeking to transfer their home loans to Axis Bank can use the Home Loan Balance Transfer Calculator, available on the lender’s website, to calculate the savings they can make from transferring their home loan.
- After you finalise the terms of your proposed home loan with Axis Bank, kindly submit a letter to your existing lender to close your ongoing home loan account and issue a no-objection certificate (NOC).
- After receiving the NOC from your existing home loan lender, submit the same to Axis Bank along with the documents required by the lender for initiating the Home loan balance transfer process.
- Axis Bank will pay the balance home loan amount to your current bank/HFC, subject to verification of the documents submitted. Post that you will receive a foreclosure certificate from your lender which you should submit to the bank.
- You should also pay the future EMIs on your outstanding loan to Axis Bank as per revised terms and conditions.
FAQs on Axis Bank Home Loan Balance Transfer
What is Axis Bank Home Loan Balance Transfer?
Ans. Axis Bank offers home loan balance transfer facility to the existing home loan borrowers of other banks and Housing Finance Companies to transfer their existing home loans to Axis Bank at lower interest rates. The interest rates for the Axis Bank HLBT facility starts from 8.75% p.a.
What is the current interest rate of Axis bank home loan balance transfer?
Ans. The current Axis Bank Home Loan Balance transfer interest rates range between 8.75% and 13.30% p.a. However, the final home loan interest rate offered by the lender would depend on multiple factors including the type of loan scheme, their loan applicants’ credit scores and occupation profile.
What are the fees and charges for Axis Bank Home Loan Balance Transfer?
Ans. Axis Bank levies nominal processing charges on its home loan balance transfer facility. Note that the fees and charges levied on existing home loan borrowers transferring their loans to Axis Bank from other lenders will inflate their overall borrowing costs.
Is there any difference between Axis Bank Home Loan Balance Transfer interest rates and regular home loan rates?
Ans. The interest rates offered by Axis Bank home loan product is the same as that for its home loan balance transfer scheme. However, existing home loan borrowers of other lenders who are opting for the Axis Bank HLBT facility should note that the final interest rates offered by the lender depends on several factors including their credit scores, occupation profile and type of loan scheme.