Axis Bank Empower Home Loan Scheme

Axis Bank’s Empower Home Loan offers assured reductions in rate when you maintain a consistent track record of repaying your loan. Loan amounts range from Rs.10 lakh to Rs.1.5 crore with affordable interest rates and repayment tenures extending up to 15 years.

Axis Empower Home Loans Interest Rates Interest rates start at 9.55% p.a.

Eligibility Criteria

Self –employed resident customers who are non-professionals or professionals are eligible for this loan.

Features and Benefits

  • Get 3 rate reductions if you maintain a consistent repayment track record for 24, 36, and 60 months from date of the first disbursement
  • Home loans available to buy a new house which is already constructed, under construction, self-constructed, or resale.
  • Loan also available for home improvement or extension.
  • Loan can also be used to buy a plot plus home construction.
  • No prepayment charges for early closure
  • Easy, quick, and hassle-free application process with doorstep service

Documents Required

Along with the duly filled application form and PAN card, you would need the following documents:

Identity proof: Aadhaar card/passport/driving licence/GOI issued photo ID/government employee ID/photo ID

Date of birth proof: PAN card/Aadhaar card with DOB/SSC marksheet/passport/birth certificate/driving licence

Address proof: Voter ID/driving licence/Aadhaar card/property tax receipt/gas bill/landline telephone bill/electricity bill/GOI issued photo ID/government employee ID

Signature proof: PAN card/banker’s verification/passport/notarised affidavit with address proof and ID

Income proof:

NRI salaried individuals:

  • Details of POA
  • Copy of passport
  • Valid OCI card or copy of visa
  • Overseas credit report
  • International salary account statement for the past 6 months
  • Domestic NRO/NRE account statement for the past 6 months
  • For shipping cases, Continuous Discharge Certificate
  • Contract letter/appointment letter
  • Pay slip for the last 3 months

Indian resident salaried individuals:

  • Form 16 or employment continuity proof for the last 2 years
  • Bank account statement showing salary credit for the last 6 months
  • For cases of variable pay, 2 years’ worth of bonus proof or pay slip for the last 6 months
  • Pay slip for the last 3 months

Self-employed individuals:

  • 3 years’ worth of business continuity proof
  • Bank account statements of business and personal accounts for the last 6 months
  • If gross receipts exceed Rs.25 lakh or gross turnover exceeds Rs.1 crore, a tax audit report
  • Balance sheet with seal and sign of CA, computation of income, P&L, ITR of the last 2 years
  • If ITR has been filed without a digital signature, tax paid challan and CPC is required

Note: All documents submitted should be self-attested by the borrower.