1. What is Axis Bank Home Loan Eligibility?

The Axis Bank Home Loan Eligibility Calculator helps you determine how much loan amount you may qualify for based on your repayment capacity. Axis Bank offers home loans starting at 6.90% p.a. with minimum income requirements and credit score of 700+.

2. How Does the Calculator Work?

The calculator uses the loan eligibility formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( PMT \) — Affordable monthly payment (INR)
• \( r \) — Monthly interest rate (decimal)
• \( n \) — Loan term in months

Explanation: The equation calculates the maximum loan amount you can borrow based on what you can afford to pay monthly, the interest rate, and loan duration.

3. Importance of Loan Eligibility

Details: Knowing your eligibility helps in budgeting for your home purchase, understanding your borrowing capacity, and negotiating better with property sellers.

4. Using the Calculator

Tips:

• Enter your comfortable monthly EMI amount
• Current Axis Bank home loan interest rate starts at 6.90% p.a.
• Loan term can be up to 30 years
• Actual approval depends on income, credit score (700+ required), and other factors

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum income required for Axis Bank home loan?
A: Minimum ₹25,000 monthly income for salaried individuals and ₹3 lakhs annual income for self-employed.

Q2: What is the maximum loan amount Axis Bank offers?
A: Up to ₹5 crores depending on property value, income, and other factors.

Q3: What documents are required for Axis Bank home loan?
A: Identity proof, address proof, income documents, property papers, and bank statements.

Q4: What is the processing fee for Axis Bank home loans?
A: Up to 1% of loan amount + GST, minimum ₹10,000.

Q5: Does Axis Bank offer pre-approved home loans?
A: Yes, for select customers based on their relationship with the bank.