Axis Bank Home Loan Eligibility Criteria And EMI Calculator

Axis Bank Home Loan Eligibility Criteria And EMI Calculator

As a home loan borrower, you should know how to select a suitable lender. For that, you should know everything that the bank has to offer. Also, you should be familiar with your profile and property.

Axis Bank, with its new home loan product- Shubh Aarambh Home Loans has once again given competition to other lenders. The bank has launched a scheme wherein the loan taken for the tenure of at least 20 years gives the 12 EMIs off.

If you also want to avail these benefits, read in detail about the home loan schemes and also the housing loan interest rate offered by the bank. Below is everything you need to know about Axis Bank home loan eligibility and EMI calculator for your reference.

Axis Bank Home Loan:

Below are some of the attractive features of the product that make it unique in its own way:

  • Interest rate ranging from 8.65% to 8.75% p.a.
  • The minimum loan amount is ₹3 lakhs
  • The maximum loan amount depends on the combined income of the applicant/s
  • No prepayment charges on floating rate loan
  • The processing fee of 2% of the principal outstanding on fixed rate loan  
  • Balance transfer facility available at low rates
  • Earn eDGE Loyalty Reward Points
  • The processing fee of up to 1% of the loan amount subject to a minimum of ₹10,000/-

Eligibility Criteria-

To get a home loan application approved, you must match the eligibility first. So, look at the eligibility below and see whether or not you can apply for the loan.

For Salaried-

  • The applicant must be in permanent service in the Government or in reputed companies
  • Minimum age of the applicant should be 21 years
  • Maximum age of the applicant should be 60 years

For Self-Employed-

  • Those who file ITR are eligible
  • The age of applicant should be between 21 years and 65 years


  • Doctors, engineers, dentists, architects, chartered accountant, cost accountant, company secretary, management consultants are eligible to apply
  • The age of the applicant should be between 21 years and 65 years

How can you Calculate Home Loan EMI?

A home loan EMI calculator is the easiest tool that can help you calculate home loan EMI in a few minutes. This tool would take into account the basic details of your home loan which are:

  • Loan amount
  • Tenure
  • Interest rate

Now, when you mention the above details in the calculator, it would give you the data of the EMI, the total interest outgo, and the total amount (principal+interest). Here is an example with the loan amount ₹20 lakhs with the tenure of 15 years and interest rate of 8.35% p.a.

EMI: 19,519

Total interest outgo: 15,13,480

Total amount: 35,13,480

Here is the formula to calculate the EMI or equated monthly installment:

E= P.r. (1+r)*n/((1+r)*n -1)



P=Principal loan amount

r= Rate of interest on a monthly basis (r= Annual rate of interest/12/100)

n=Loan tenure

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