| Axis Bank Loan Against Property Highlights | |
| Interest Rates | 10.50%-10.95% p.a. |
| Loan Amount | Rs 5 lakh – Rs 5 crore |
| Tenure | Up to 20 years |
| Processing Fee | 1% or Rs 10,000 (whichever is higher) |
Table of Contents
Axis Bank Loan Against Property Interest Rates
For Term Loan
| Product | Interest Rates (p.a.) |
| Priority Sector LAP | 10.50%-10.90% |
| Non-Priority Sector LAP | 10.50%-10.95% |
For Overdraft
| Product | Interest Rates (p.a.) |
| Priority Sector Loans (PSL) | 10.50%-10.90% |
| Non PSL | 10.50%-10.95% |
While the bank has not disclosed differential LAP interest rates based on the credit score, loan amount, loan tenure, occupation profile, etc. many lenders consider these factors while setting their Loan Against Property interest rates.
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 10.00-11.30 | |
| Bank of Baroda | 10.85-18.60 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.40-12.75 | Apply Now |
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Axis Bank Loan Against Property Fees and Charges
| Processing Fees | 1% or Rs 10,000, whichever is higher |
| Duplicate no dues certificate | Rs 50 |
| Penal interest | 2% per month on overdue instalments |
| Cheque bounce charges | Rs 339 |
| CERSAI charges | For loan amount up to Rs 5 lakh- Rs 50
For loan amount above Rs 5 lakh- Rs 100 |
| Part payment | Upto 25% of the principal outstanding repaid in the quarter – NIL Charges More than 25% of principal outstanding repaid in a quarter -3% charges on excess amount repaid For non-individuals: 3% part prepayment charge on outstanding principalFor individuals with end use as business: 3% on outstanding principal·· For individuals with end use other than business: NIL |
| Foreclosure charges | For non-individuals: 3% foreclosure charge on outstanding principal is applicable. For individuals with end use as business: 3% foreclosure charge on outstanding principalFor individuals with end use other than business: NIL |
Types of Axis Bank Loan Against Property
Loan Against Property
- Purpose: To fulfill personal or business requirements
- Loan Amount: Rs 5 lakh-Rs 5 crore
- Tenure: Up to 20 years
- Processing Fee: 1% or Rs 10,000, whichever is higher
Lease Rental Discounting
- Purpose: Loan against rental receipts from leased contracts of corporate tenants
- Loan Amount: Rs 5 lakh-Rs 5 crore
- LTV Ratio: Up to 50% of property value or 85% of the net present value of the future rentals
- Tenure: Up to 9 years
- Processing Fee: 1% or Rs 10,000, whichever is higher
Overdraft Facility Against Property
- Purpose: Overdraft facility on loan against property to balance cash flow mismatches and meet working capital requirements
- Loan Amount: Rs 5 lakh – Rs 5 crore
- Tenure: Up to 10 years
- Processing Fee: 1% or Rs 10,000, whichever is higher
- Renewal: Every 12 months as per repayment schedule
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Eligibility Criteria for Axis Bank Loan Against Property
- Age: 24-65 years
- Permanent employees of Government/reputed companies
- Individuals filing Income Tax returns
- Doctors/engineers/lawyers/CA/CS/dentists/architects/managementconsultants/cost accountants
For Lease Rental Discounting
- The lessee should be a company as defined under Companies Act 1956
- Loan is sanctioned only against ready commercial property.
In addition to the above-mentioned eligibility criteria, Axis Bank may also consider the credit score, monthly income, EMI/NMI ratio, etc. of its applicants while evaluating their Loan Against Property eligibility, just like many lenders do while evaluating the eligibility of their LAP applicants.
Documents Required for Axis Bank Loan Against Property
The list of loan against property documents required by Axis Bank based on the applicant and product types are as follows:
- PAN card (mandatory)
- ID Proof (Aadhar card/Driving license/passport/voter ID/Government employee ID/Photo ID issued by Government of India)
- Address Proof (Electricity bill/gas bill/telephone bill/driving license/Aadhaar card/property tax receipt)
- Date of Birth Proof (Birth certificate/SSC certificate/Passport/PAN card/Driving license/Aadhaar card)
- Signature Proof (Notarized affidavit with ID and Address proof/Banker’s verification/PAN card/Passport)
- Income Proof:
For Salaried:
- Pay slip for last 3 months
- In case of variable pay, salary slip for 6 months
- Salary account statement for last 6 months
- Form 16 for 2 years
For NRI:
- Pay slip for 3 months
- Appointment letter
- Domestic NRE/NRO statement for 6 months
- 6 months account statement for international salary
- Passport copy
- POA details
- Valid VISA copy
- Overseas credit report
For Self-Employed:
- ITR for 2 years with income computation, P&L, balance sheet, signed and sealed by CA
- Tax Audit Report
- Personal and business account statement for 6 months
- CPC and tax paid challan for ITR filed with manual sign
- Business continuity proof for 5 years
- Processing fee cheque
For Lease Rental Discounting
- 6 months’ bank statement showing the credited rent
- Valid registered lease agreement
- 26AS for 1 year
- ITR for 2 years with income computation, balance sheet signed and sealed by CA, P&L
- Partnership deed, audited financials for 2 years, KYC, operative account, partnership authority letter
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FAQs On Axis Bank Loan Against Property
What is the current rate of interest of Axis Bank Loan Against Property?
Ans. Axis Bank Loan Against Property interest rates range between 10.50% to 10.95% p.a. The lender offers differential interest rates depending on the product variant and credit assessment of the applicant.
How can I apply for Axis Bank Loan Against Property?
Ans. You can apply for Axis Bank Loan Against Property directly through the official website of Axis Bank. You can also apply for Loan Against Property through offline mode by visiting any Axis Bank branch.
What are the eligibility requirements for availing Loan Against Property from Axis Bank?
Ans. Salaried and self-employed individuals above 24 years of age at the time of loan application are eligible for availing Axis Bank Loan Against Property. All the salaried individuals filing income tax and all the self-employed professionals, such as doctors, engineers, architects, dentists, CAs and company secretary can apply for Axis Bank LAP.
What is the processing fees of Axis Bank Loan Against Property?
Ans. Axis Bank charges a processing fees of 1% of loan amount or Rs 10,000 (whichever is higher) from its Loan Against Property applicants. The lender also charges an upfront processing fees of Rs 5,000 at the time of application login.