With QuikPay Home Loan you get to pay higher principal earlier in the loan tenure. Unlike a regular Home loan, here the monthly instalments are not equal every month but decrease each month. This helps you repay your principal faster and reduces your interest payments. For more details click herefor QuikPay Home Loan Interest Rates.

With QuikPay Home Loan you get to pay higher principal earlier and thus make savings on interest paid . Our savings calculator will help you know how much you will save on your Home Loan.click here

You can start the process of applying for a Home Loan in any of the following three ways:

• Online by clicking here
• In person at any Axis Bank Loan Center. To find the one closest to you, please click here for QuikPay Home Loan
• By calling our Call Center at 1-860-419-5555 and 1-860-500-5555 (charges applicable as per service provider)
• SMS Home to 5676782

Yes! You can avail of an Axis Bank Home Loan from for any of the following:

• Purchase of a home
• Construction of a home
• Home repairs
• Home improvements
• Home extension
• Purchase of plot and construction of a house thereon

No, under QuikPay Home Loan fixed rate of interest is not applicable. Only floating rate of interest can be availed. The applicable floating rate of interest will change with change in the Bank's MCLR rate. For more details on interest rates offered by Axis Bank, please click here

Among the multiple factors that Axis Bank considers in determining Home Loan eligibility are:

• Income of all applicants
• Age of the primary applicant
• Number of dependents that the applicants have to support
• Assets and liabilities of the applicants
• Stability and continuity of the primary applicant's occupation.

To check your eligibility online, please click here

Yes. Non Resident Indians can avail the QuikPay Home Loan.

Yes, you can transfer your existing Home Loan to Axis Bank and receive high interest savings with QuikPay Home Loan.

The Home Loan floating rate will change when either of below rate changes:

• Repo Rate change on the reset date for loans sanctioned from 1st October’19
  
• Axis Bank's Marginal cost of lending rate (MCLR) change on the reset date for loans sanctioned from 1st April, 2016
• Axis Bank's Base Rate (BR) for loans sanctioned from 1st July, 2010
• Axis Bank's Mortgage Reference Rate (MRR) for loans sanctioned before 1st July, 2010

Axis Bank reassesses the MCLR, BR and MRR from time to time after considering numerous factors including the cost of funds, cost of operations, prevailing interest rates, and provisioning requirements.

On availing the QuikPay Home Loan, the monthly instalment on your home loan may increase or decrease if the MCLR/Repo Rate increases or decreases respectively. This is because even though your rate of interest changes with the change in MCLR/Repo Rate, the total loan tenure remains the same.This will be communicated to you via SMS/email on your registered contact details.

Yes, it is mandatory to have a co-applicant. If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the Home Loan. If you are the sole owner of the property, any member of your immediate family can be your co-applicant.

For the List of Documents to be submitted along with your Home Loan application, please click here

Once we receive a completed application form along with the necessary supporting documents two things happen:

• Determination of your eligibility for the Home Loan: For this we consider our internal policy guidelines and also examine all the documents submitted by you. If you are deemed eligible, you will get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property.
  Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete. The computation of 30 days shall start from the day on which all documents required for a proper appraisal of the application are provided by the borrower to Axis Bank.
  If we find we are unable to extend the loan to you, we will communicate the same to you promptly through SMS/email/letter at your registered contact details with us.
• Legal and Technical verification: Lawyers and property valuers empanelled by Axis Bank will verify your title documents conduct a technical evaluation of the property.
  Once both these are complete, the Bank will process the disbursement of your Home Loan.

Yes. Total Processing fees of 1% of the outstanding principal with a minimum of Rs. 10,000 plus GST as applicable will be charged. Upfront processing fee of Rs 5000 plus GST shall be collected at the time of application login. This fee will not be refunded under any circumstances such as loan rejection/withdrawal of the loan application etc., non disbursement of loan for the reasons solely attributable to the customer. Balance processing fee as applicable shall be collected at the time of loan disbursement.

To check the schedule of charges associated with transactions,click here

Pre-MI interest is the interest on the loan amount disbursed by the Bank. It is payable every month from the initial date of disbursement until the commencement of the Monthly Instalment payments.

• The Monthly Instalment consists of the principal amount and the interest on the balance outstanding.
• It is calculated by taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum.
• Every month, part of the Monthly Instalment is adjusted towards the interest payable and the balance is adjusted towards repayment of the principal
• In QuikPay Home Loan, the total loan amount will be divided by the loan tenure to arrive at the principal amount to be paid each month.
• The interest is then calculated on the outstanding principal balance each month.
• The monthly instalment amount is the highest in the beginning of the loan and reduces each month resulting in high interest savings.
• The Monthly Instalment may be subject to change when interest rate changes or a part-payment of the loan is made.

Yes! The Monthly Instalment consists of the principal amount and the interest on the balance outstanding amount. Since only a part of your loan has been disbursed, the interest component of your Monthly Instalment will be proportionately lower to reflect this.To start paying Monthly installments (Interest and Principal) you are requested to visit nearest Loan Centre and raise request for the same

The Monthly Instalment will be due on a fixed date each month. This date will be notified when your loan is disbursed.

No. The QuikPay Home Loan cannot be converted from a floating rate to a fixed rate and vice versa.

Yes, you can make a part prepayment towards your Home Loan at your nearest Axis Bank Loan Center. If all borrowers are individuals and on a floating interest rate, no charge will be applicable.

Request for change in monthly instalment amount / loan tenure are not allowed after loan disbursement, except on account of part prepayment made by the customer. On part prepayment, both the loan tenure and the monthly instalment will decrease.

Yes, resident Indians are eligible for tax benefits on both the principal and the interest of a Home Loan under the Income Tax Act. Please consult your tax advisor for details.

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

• Download the Axis Mobile Application or log onto Internet Banking to get access to all account details pertaining to the loan.
• SMS MBANK to 5676782 to download the Axis Mobile App.

You may repay your Home Loan in any of the following three ways:

• Standing Instruction (SI): This mode can be used if you have an existing Savings, Salary, or Current Account with Axis Bank. You may wish to open a Savings account with Axis Bank to use this option. Your Monthly Instalment amount will be amount debited automatically at the end of the monthly cycle from the Axis Bank account you specify
• National Automated Clearing House (NACH): This mode can be used if you have a non-Axis Bank Account and would like your Monthly Instalments to be debited automatically at the end of the monthly cycle from this account.
• Post Dated Cheques (PDCs) cannot be accepted as a mode of repayment for QuikPay Home Loans.

You may update your mobile number and email address in either of the following ways:

• By calling our Call Center at any of these numbers: 1860 419 5555 or 1860 500 5555.
• Visit www.axisbank.com/support
• You can update you email ID by using Axis Bank Mobile App

If your new mailing address is the same for which the loan has been taken, you may change the address in either of the following ways:

• You can visit us in person at your nearest Axis Bank Loan Center along with an original and self-attested copy of your new address proof and photo identity.
• By using Axis Mobile App > Menu > Insta Services.

Before we process a foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your Home Loan by requesting a foreclosure statement from your nearest Axis Bank Loan Center. Once all outstanding dues have been cleared, please submit a foreclosure request at the Loan Center, and we will begin processing your request. To check the charge applicable for the foreclosure, please click here

Property papers will be handed over to you at Axis Bank Loan center within 15 days from the date of repayment of all dues.

Currently, the Bank has published the following MCLR:

• Overnight MCLR
• One-month MCLR
• Three-month MCLR
• Six month MCLR
• One year MCLR
• Two year MCLR
• Three year MCLR   

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:

• Excess amount greater than (>) EMI: If service request (SR) for part payment is not created/received within 2 days of receipt of funds, the excess funds will be adjusted towards principal outstanding as part payment.
• Excess amount equal to (=) EMI: If service request (SR) / instructions for part payment is not created/received on same day of receipt of funds, excess amount will be refunded to your operative account.
• Excess amount less than (<) EMI: Excess amount will be kept unappropriated in the Loan account for 15 days. Post 15 days, the excess funds shall be adjusted towards principal outstanding as a part payment.
• Excess amount equal to (=) or greater than (>) foreclosure / pre-closure amount : In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account and:
• Excess amount is equivalent (=) to the foreclosure amount, Loan account will be proactively closed by the Bank.
• Excess amount is greater than (>) the foreclosure amount, adjustment in Loan account would be as follows:
• If excess amount is up to INR 20,000, Loan account would be closed by the Bank and after closure, excess funds would be credited to the Loan repayment account.
• If excess amount is greater than INR 20,000, the Bank will connect with you telephonically for verification of payment. Alternatively, you may connect with the Bank on 18604195555 to confirm the credit adjustment in your Loan account.
• Excess amount less than (<) the foreclosure amount: In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account, then excess amount will be adjusted against the outstanding principal, leaving an amount equivalent to one EMI for forthcoming EMI presentation. However, in case you would like the entire amount to be adjusted against the outstanding principal, please place a request at Phone Banking / Loan Centre at the earliest.