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QuikPay Home Loan
QuikPay Home Loan is a unique financing solution that helps you repay higher principal earlier in the loan tenure. Your monthly instalments reduce every month helping you make huge savings on interest.
Features & Benefits
Early principal repayment
Repay higher amount of principal earlier in the loan tenure
Lower monthly instalments
Reducing monthly instalments helps ease interest payments each month.
For borrowers with growing responsibilities
Benefit for borrowers with growing responsibilities since you pay lesser compared to a regular home loan.
Home Loans for every need
Home loans can be used to purchase an under-construction, ready, or resale house, self-construction, plot plus construction, or home extension and improvement.
Home Loan Transfer benefits
You can transfer your home loans to Axis Bank and avail huge benefits.
No prepayment charges
Enjoy the freedom to prepay your Home Loan anytime without extra charges.
Up to 30 years tenure
Get a Home Loan with flexible tenure of up to 30 years.
Important links
Access a wide range of resources and tools to simplify your QuikPay home loan journey:
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
%
6.50% 11%
Y
1Y30Y
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
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Track NowFrequently Asked Questions
A Home Loan Equated Monthly Instalment (EMI) is your regular payment towards the borrowed amount, divided into principal and interest components. Calculated from the loan's principal, interest rate, and tenure, the EMI ensures a steady reduction in your loan balance. For seamless management, it's deducted from your savings account Adjusting the EMI or loan tenure may be necessary if interest rates change, ensuring consistency in repayment when you apply for a Home Loan
A Home Loan is secured to finance the purchase or construction of property, with the property itself serving as collateral. In contrast, a mortgage refers to a loan secured by property already owned, often fearing higher interest rates. Both involve pledging property to the lender, but they serve different financial purposes and are subject to varying interest rates in India.
Fixed-rate Home Loans have a constant interest rate throughout the tenure, providing payment stability. In contrast, floating-rate loans have an interest rate that varies with market conditions, offering the possibility of lower rates over time but with less predictability.
Initiate your Axis Bank Home Loan application by completing the form online or at the branch or loan or at any Axis Bank branch. Submit your application along with the requisite KYC documentation. Post sanction, provide the necessary property documents. Following document verification and property appraisal, the loan approval and disbursement occurs within 15 days, subject to accurate and complete documentation.
Salaried applicants must provide their latest salary slips, Form 16, bank statements, and KYC documents, which include proof of identity, address, and income. Employers' certification may also be required to validate employment status and income details.
Enhance your Home Loan eligibility by maintaining a strong credit score, having a stable job history, reducing existing debts, and saving for a higher down payment Consistent income and a low debt-to-Income ratio also strengthen your application.
Applying for a Home Loan online offers significant benefits, streamlining the application process. This saves time, simplifies comparisons of loan options, and calculates eligibility and EMIs instantly. The digital platform ensures a smooth customer experience, removing the need to visit a branch and facilitating a hassle-free and efficient loan application journey.
Various Home Loan options are available to suit different housing needs. These include:
- Standard Home Loans for buying a residence.
- Land Purchase Loans for acquiring a plot.
- Construction Loans for building a home.
- Home Improvement Loans for renovation projects.
- Top-up Loans for additional funding on existing loans.
- Balance Transfer Loans to switch lenders for better terms.
- Pre-approved Home Loans for quicker loan processing.
Home Loans can be utilized for enhancing your property through renovations or adding extensions. Given their lower interest rates compared to personal loans, they are a cost-effective option for home improvement financing.
Axis Bank offers Home Loans up to ₹5 crores. Check your eligibility with the Home Loan Eligibility Calculator to understand the potential loan amount available to you.
Upon submission of the requisite documents, Axis Bank typically sanctions a Home Loan within five business days, enabling a swift start to your home financing journey.
A Home Loan Balance Transfer enables you to shift the outstanding loan amount to a different lender, often for a lower interest rate or a longer repayment term. This strategy can result in reduced interest costs and better financial management. Additionally, you might have the option to obtain further financing through a top-up loan during the balance transfer process.
Here's what you can do if your home loan application is denied:
- Examine your finances and credit report closely. Improving your credit score or paying off existing debt can make a significant difference.
- If the loan amount is an issue, consider asking for a smaller loan or making a larger down payment. Reduced risk to the lender often equates to a greater chance of loan approval.
- Check over each document you provide. Unfinished or incorrect paperwork can sabotage even the best application. Verify everything twice before reapplying.
Close those gaps, tighten up your application, and you will increase your chances of approval when you reapply.
It is permissible to have multiple Home Loans concurrently, subject to certain conditions:
- No legal restrictions on holding more than one Home Loan.
- Approval is contingent on satisfying the lender's eligibility criteria
- The borrower must demonstrate adequate repayment capacity.
Principal repayment qualifies for a deduction up to ₹1.5 lakh under Section 80C. Interest payment offers a deduction up to ₹2 lakh per annum under Section 24(b) Additional deductions up to ₹1.5 lakh for loans under the affordable housing segment as per Section 80EEA, subject to certain conditions. Do note that Section 80EEA benefits are not applicable for home loans taken post March 31, 2022.
The processing fee for a Home Loan is a one-time charge, up to 1% of the loan amount. This fee covers the administrative costs incurred during the loan application process
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