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Owning a house and making it into a home is one of the many promises a newly-wed couple make to one another. Romance aside though, purchasing a house or even a small sized flat, can be difficult for many and an unattainable dream for others. Axis bank brings you the Asha Home Loan scheme under which you can get up to 90% of the price of your house as loan. In fact, Asha – which literally means hope – is the hope for all those couples who are starting off both in their marriage and in their careers.
Interest is charged as per the following schedule –
Eligibility for Asha Home Loan is as follows:
You can take a loan for a minimum of 1 Lakh to a maximum of 28 Lakh
You should have a minimum combined income of 8000/-
The term of the loan cannot be over 30 years.
You can choose between floating or fixed interest rate. Floating interest rate is tied to MCLR (Marginal Cost of funds based Lending Rate). Any change in MCLR will impact your EMI or term or both.
The following documents are required for applying for a loan under the Axis Bank Asha Home Loan.
The following documents are required for each salaried applicant as proof of income-
The following documents are required as proof of income for each self-employed applicant –
The total loan process can take 15 to 30 days for approval and disbursement. Timelines may vary from state to state and city to city depending on local regulations and other conditions.
1. Why should I choose Axis Bank?
Axis bank is not only one of the preferred bankers in India but also among the top home loan providers. They have culled the best products in home loan to suit the requirements of customers from different strata of society. They have a wide network and a plethora of approved projects for you to choose from.
2. Whom is Asha Home Loan meant for?
The Asha Home Loan is a special product designed to cater to those employees who do not qualify under other schemes either because of income constraints or amount of loan. The product is designed in a way that you can tailor it to your specific requirements no matter whether you are salaried or self-employed, fall within the high income or low income group, and are looking to purchase a large or small house – either ready to move in or under–construction. You can get the maximum possible loan – up to 90% of the price of the property – at the lowest possible rate of interest.
3. I take salary in cash and don’t have a salary slip. Can I get a home loan?
Yes, certainly! Visit the nearest Axis bank branch and talk to our representative about how you can get a home loan even if you get salary in cash.
4. Can I get disbursement as and when builder demands it?
Yes. This is called part disbursement.
5. How do I get the next instalment of disbursement?
You have to submit the demand letter from the builder and fill in our Disbursal Request Form (DRF) in order to apply for next disbursement. You also need to submit any receipts of payments made to the builder. All documents must be submitted in original – however you may keep a copy for your record.
6. Where can I get the DRF?
The required numbers of DRFs have been sent to you along with the welcome kit. You can visit the nearest Axis Bank branch to submit the DRF along with other documents. If this is not the branch from where you took the loan, the process may take slightly longer since the papers have to travel to your parent branch.
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Axis Bank Fast Forward Home Loan Scheme
Axis Super Save Home Loan Scheme
Bank Of India Star Diamond Home Loan Scheme
Bank Of India Star Pravashi Home Loan Scheme
Bank Of India Star Smart Home Loan Scheme
HDFC Home Extension Loan Scheme
HDFC Reach Home Loan Scheme
HDFC Rural Housing Finance Scheme
HDFC Short Term Bridging Loan Scheme
HSBC Smart Home Loan Scheme
ICICI Extra Home Loan Scheme
ICICI Saral Rural Housing Loan Scheme
LIC Home Loan For Pensioners Scheme
SBI Bridge Home Loan Scheme
SBI Corporate Home Loan Scheme
SBI Flexipay Home Loan Scheme
SBI Privilege Home Loan Scheme
SBI Realty Home Loan Scheme
Tata Capital Housing Finance Prapti Scheme
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