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Power Advantage Home Loan
Your dream home deserves a seamless financing solution. Axis Bank’s Power Home Loan combines convenience, flexibility, affordability, and personalised support for every step of the way.
Features & Benefits
Power Advantage Home Loan
Fixed rate for the first two years, followed by a floating rate for the remaining loan tenure. No change in rate/EMI during the first two years of loan tenure.
Use the loan for a house that’s ideal for you
Home loans can be used to purchase an under-construction, ready, or resale house, for self-construction, plot plus construction, or home extension and improvement.
Transfer your loan to Axis Bank
Move your existing home loan to Axis Bank and avail this benefit.
Avail a Home Loan at Your Doorstep
Get a home loan from the comfort of your home or office.
Benefit from quick and transparent processing
Get your loan faster than you expect.
*Terms and Conditions Apply.
Eligibility for Power Home Loan
Documentation for Power Home Loan
Great plans start with well-calculated decision
Home Loan EMI Calculator
Calculating your Home Loan EMI is now easier than ever with our user-friendly and efficient Home Loan EMI Calculator. Whether you have a ₹30 lakh home loan EMI for 20 years or a ₹20 lakh home loan EMI for 10 years, use our Home Loan EMI calculator to effortlessly manage your repayments and make your dream home a reality.
3L
5Cr
Your EMI*₹ 1,14,678
Get a call back*Equated Monthly Installment'
Note: To see amortization schedule, please click here.
Total Amount Payable
1,37,621
Home Loan Eligibility Calculator
A place to call our own is an aspiration for most of us. But owning a home requires a lot of planning, given the costs involved. However, with the right kind of financial support, buying your own home is a dream that you can fulfil easily.
Loan Amount
₹ 1,55,455.03
Fees & Charges
Access essential documents and forms for your Axis Bank Power Advantage Home Loan with just a click.
Important Links
Discover key resources and tools to make the most of your Axis Bank Power Advantage Home Loan, from application assistance to repayment options.
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Frequently Asked Questions
Under this variant, you can avail a Home Loan for purchasing an under construction / ready builder property, resale house, self-construction, plot plus construction, home extension & improvement loans
Home Loan tenure can be upto a maximum of 30 years. However the fixed rate tenure is restricted to two years. Under Power Advantage Home Loan you can avail fixed rate upto 2 years of loan tenure. Post which the ROI will be converted to Floating ROI for the remaining loan tenure
The loan eligibility of the borrower would be calculated as per existing Home Loan norms at the normal floating rate offered at the time of sanction
Yes, you can opt for Balance Transfer under Power Advantage Home Loan provided it fits in the scheme Yes, you can do a Balance Transfer under Power Advantage Home Loan variant provided it fits in the policy
Scenario 1: In case your loan is in Pre EMI initially and the loan gets disbursed fully during the fixed rate loan tenure, you will get the benefit of fixed rate till a maximum of two years under Power Advantage Home Loan from the date of first disbursement.
Scenario 2: In case your loan remains in Pre EMI for the full fixed rate tenure, then the benefit of fixed rate will also be given to a maximum tenure of two years under Power Advantage Home Loans from the date of first disbursement
EMI for the fixed tenure will be calculated based fixed tenure ROI as stated in sanction letter however for the floating tenure the EMI will be calculated based on MCLR at the time of conversion with a constant markup which is offered to the customer at the time of sanction
Yes. You can make part payments/ foreclosure towards your loan account under this product variant with complete flexibility as per existing process. However we will be charging a fee of 2%+GST on the principal outstanding in case of foreclosure or 2%+GST on prepayment amount in case of part payment, if the foreclosure/ part payment is being done within fixed rate tenure i.e. during the time the loan account is in fixed rate tenure in the initial two years
The maximum tenure under this variant is 30 years for salaried and self-employed customers subject to the age of the borrower not exceeding 60 years or 65 years respectively at loan maturity.
Under the Fixed plus Floating Home Loan variants, you will not be allowed to switch your Loans from fixed to floating rate and vice versa as per your requirement. Under Power Advantage Home loan will automatically get converted to floating rate after two years of the first loan disbursement date.
No, fixed rate tenure benefit cannot be extended under the said product variant
You may obtain the provisional/final interest certificate in the following ways:
- Download the provisional/final interest certificate from our website through Internet Banking under loan section
- Download the provisional/final interest certificate from our Mobile Banking App under loan section
- Reach out to our Call Centre and request for your interest certificate
- Apply at your nearest Axis Bank loan centre/Branch
The final/provisional interest certificate will be mailed to you once a year by the Bank
Yes, you will be eligible to take a loan under the Power Advantage Home Loan.
Yes, you can apply for both the schemes together
Yes, a self-declaration affidavit in the format as available in Axis Bank offices.
You will be charged a constant mark-up on the MCLR/Repo Rate at the time of sanction projecting a future EMI. However if the MCLR/Repo Rate increases/ decreases at the time of conversion from fixed to floating rate , the tenure will be adjusted keeping the projected EMI constant. However, in case of increment in loan tenure if the EMI is not adequate to cover the interest payment, then the EMI amount will be increased.
SALARIED CUSTOMERS:
- Application Form with Photograph duly signed by all applicants
- Identity, Residence and Age Proof
- PAN Card Copy
- Last 3 months Salary Slips
- Form 16 / Income Tax Returns
- Last 6 months Bank Statements
- Processing Fee Cheque
- Affidavit, if eligible under Pradhan Mantri Awas Yojana scheme (optional)
SELF EMPLOYED CUSTOMERS:
- Application Form with Photograph duly signed by all applicants
- Identity, Residence and Age Proof
- PAN Card Copy
- Education Qualification Certificate (for professionals only)
- Proof of Business existence
- Last 2 years Income Tax Returns with Computation of Income
- Last 2 years CA certified / Audited Balance Sheet and Profit & Loss accounts
- Last 6 months Bank Statements
- Processing Fee Cheque
- Affidavit, if eligible under Pradhan Mantri Awas Yojana scheme (optional)
Yes, you can switch (if offered by the bank at the time of your request) to a lower interest as per applicable offer under this variant by paying the applicable charges. You will have the option to reduce the EMI or tenure as per your requirement. However, the switch option is available only under the ‘floating rate’ option. The option to convert the ‘floating rate’ to ‘fixed rate’ is not offered under this variant.
Eligibility will be calculated based on KYC/ income norms based on the floating rate interest which is applicable at the time of sanctioning the loan
No, you will not be allowed to do so.
Loan Application – Submit a completely filled application along with necessary documents
Loan Sanction – An approval for specific loan amount post necessary credit checks on the basis of financial eligibility
Legal & technical appraisal – Legal and technical appraisal of the property
Part Disbursement – Loan disbursement linked to the stage of construction for under construction property
Disbursement – Full Loan disbursal for the completed properties
An Equated Monthly Instalment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in significant savings for the customer over the tenure of the loan.
Axis Bank's PAN is AAACU2414K and its registered office address is Axis Bank Limited, TRISHUL, Third Floor, Opp. Samartheshwar Temple, Nr. Law Garden, Ellisbridge, Ahmedabad - 380 006
For every disbursement request, you would have to visit nearest Axis Bank Loan center with the builder demand letter and other supporting documents including disbursement request form. On the basis the appraisal of the stage of construction of the property, the bank would disburse the funds.
From customer ease perspective, most of our customers today opt for Standing Instructions or Electronic Clearing Services and we too promote the same in centers where this facility is available. PDC’s are acceptable in the centers where ECS is not available.
If your loan is partially disbursed, we charges only interest component upto 30 months of initial disbursement.
This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of disbursement up to the loan is becoming fully disbursed or upto 30 months.
Please refer Pradhan Mantri Awas Yojna scheme details
Yes, beneficiary can avail a longer term beyond 20 years as per Axis Bank credit norms but the subsidy will be restricted to a max term of 20 years
Any pre-payment/excess amount paid by you to the Bank; shall be appropriated in the loan account basis the below criteria/methodology in the absence of any specific instructions from you:
Terms & Conditions
Loans are the sole discretion of Axis Bank and are subject to fulfilment of its terms and conditions and eligibility criteria and may be discontinued by the Bank at any time, without prior notice to the customer. Images herein are provided only for pictorial representation and Axis Bank does not undertake any liability or responsibility for the same. Contents of this advertisements, products and services offered by Axis Bank are subject to applicable laws and regulatort guidlines/ regulations. The Bank may use the services of agents for sales, marketing and promotion of the product. RBI does not keep funds or accounts of any individual/public/trust. Do not be a victim to any such offers coming to you on phone or email in the name of RBI. For more details, please refer to www.axisbank.com.
Interest subsidy on housing loan is calculated at applicable rates for CLSS EWG/LIG/MIG I/MIG II schemes respectively for a tenure of 20 years or the tenure of loan, whichever is lower. GOI will retain the supreme right of granting/rejecting the subsidy and Bank will not be held liable for the decisions taken by GOI.
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