1. What is Axis Bank Home Loan Eligibility?

The Axis Bank Home Loan Eligibility Calculator helps you determine how much loan amount you can get based on your repayment capacity. Current rates start 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)
• \( n \) — Total number of monthly payments

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

3. Importance of Loan Eligibility Calculation

Details: Knowing your eligibility helps in financial planning, property selection, and ensures you don't apply for amounts beyond your repayment capacity.

4. Using the Calculator

Tips: Enter your comfortable monthly EMI amount, current Axis Bank home loan rate (default 6.90%), and preferred loan term (up to 30 years). All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum income required for Axis Bank home loan?
A: Typically ₹25,000 per month for salaried individuals and ₹2.5 lakh annual income for self-employed.

Q2: What is the maximum loan tenure available?
A: Axis Bank offers home loans up to 30 years tenure, subject to age criteria.

Q3: What documents are required for eligibility?
A: Income proof, identity proof, address proof, property documents, and bank statements are typically required.

Q4: Does Axis Bank offer pre-approved loans?
A: Yes, pre-approved loans are available for existing customers with good banking relationship.

Q5: How can I improve my eligibility amount?
A: You can improve eligibility by adding co-applicant, opting for longer tenure, or showing additional income sources.