Axis Bank provides loans secured against property at an interest rate starting from 10.50% per annum for amounts up to Rs 5 crore, with repayment periods of up to 20 years. Additionally, it offers Lease Rental Discounting against rental income from corporate tenants' lease agreements. Moreover, Axis Bank offers overdraft facility on property-backed loans to meet working capital needs and address cash flow gaps.
| Axis Bank Loan Against Property Highlights | |
|---|---|
| Interest Rate | 10.50%-10.95% p.a. |
| Processing Fees | 1% or Rs 10,000 (whichever is higher) |
| Loan Amount | Rs 5 lakh – Rs 5 crore |
| Tenure | Up to 20 years |
| Product | Interest Rates (p.a.) |
|---|---|
| Priority Sector LAP | 10.50%-10.90% |
| Non-Priority Sector LAP | 10.50%-10.95% |
| Product | Interest Rates (p.a.) |
|---|---|
| Priority Sector Loans (PSL) | 10.50%-10.90% |
| Non PSL | 10.50%-10.95% |
Although Axis Bank has not revealed specific LAP interest rates based on credit scores, loan amounts, tenures, occupation profiles, etc., it's common for lenders to take these factors into account when determining Loan Against Property interest rates.
Also read: Best Loan Against Property Interest Rate
| Name of the Lender | Interest Rate (% p.a.) | |
|---|---|---|
| State Bank of India | 10.00 - 11.30 | Apply Now |
| Axis Bank | 10.50 - 10.95 | Apply Now |
| Bank of Baroda | 10.85 - 16.50 | Apply Now |
| ICICI Bank | 10.85 - 12.50 | Apply Now |
| Standard Chartered Bank | Starts from 9.25% | Apply Now |
| HSBC Bank | 9.75 - 14.00 | Apply Now |
| Union Bank of India | 10.45% - 13.10% p.a. | 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 |
| Indiabulls Finance | 9.75% p.a. onwards | Apply Now |
| Tata Capital | 10.10 onwards | Apply Now |
| Bajaj Housing Finance | 9.75 - 18.00 | Apply Now |
| Punjab National Bank | 10.40 - 12.75 | Apply Now |
Also read: Best Loan Against Property EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fees | 1% or Rs 10,000, whichever is higher |
| Penal interest | 2% per month on overdue instalments |
| Cheque bounce charges | Rs 339 |
| Duplicate no dues certificate | Rs 50 |
| CERSAI charges |
|
| Foreclosure charges |
|
| Part payment |
|
For Lease Rental Discounting
In addition to the mentioned eligibility criteria, Axis Bank may also take into account factors such as credit score, monthly income, EMI/NMI ratio, etc., when assessing the eligibility of applicants for Loan Against Property. This aligns with the standard practice of many lenders in evaluating LAP applicants.
Also read: Best Loan Against Property Eligibility
The list of documents required for a Loan Against Property application with Axis Bank depends on the applicant and the specific product types. Here are the general documents needed:
Also Read : Best Loan Against Property Documents Required
Axis Bank charges a processing fee of 1% of the loan amount or Rs 10,000 (whichever is higher) from its Loan Against Property applicants. Additionally, an upfront processing fee of Rs 5,000 is charged at the time of application login.
You can apply for an Axis Bank Loan Against Property either directly through the official website of Axis Bank or through offline mode by visiting any Axis Bank branch.
Salaried and self-employed individuals who are at least 24 years old at the time of loan application are eligible to avail Axis Bank Loan Against Property. This includes salaried individuals who file income tax returns and self-employed professionals such as doctors, engineers, architects, dentists, chartered accountants (CAs), and company secretaries.
Axis Bank offers Loan Against Property interest rates ranging from 10.50% to 10.95% per annum. The lender provides different interest rates based on the specific product variant and the credit assessment of the applicant.
