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If you are planning on applying for a Home Loan for Self Employed NRIs, then you would need to know the Home Loan for Self Employed NRI interest rates and charges. In the table below, the break down for the Home Loan for Self Employed NRI interest rates has been given. Please go through it for a better understanding of the interest rates. If you have more queries, please feel free to contact us.
For salaried individuals
| Sr. no | Type | Loan Amount (Rs.) | MCLR + Mark Up | Effective Rate Of Interest |
|---|---|---|---|---|
| 1 | Floating Rate | Loan amount upto Rs. 30 Lakhs | MCLR + 0.10% | 8.90% p.a. |
| Loan amount upto Rs 75 Lakhs | MCLR + 0.25% | 9.05% p.a. | ||
| Loan amount above Rs 75 Lakhs | MCLR + 0.30% | 9.10% p.a. | ||
| Top Up for existing customers | Upto 30% - Same rate at which the home loan is running 30%-100% - LAP rate shall be applicable | |||
| 2 | Fixed rate (for 20 years) | All Loan Amounts | - | 12.00% |
The Axis Bank Home Loan helps self employed individuals fulfil their dream of owning their home. Find out the home loan interest rates for self employed individuals below:
For Self Employed individuals
| Sr. no | Type | Loan amount (Rs.) | MCLR + Mark Up | Effective Rate Of Interest |
|---|---|---|---|---|
| 1 | Floating Rate | Loan amount upto Rs. 30 Lakhs | MCLR + 0.15% | 8.95% p.a. |
| Loan amount upto Rs 75 Lakhs | MCLR + 0.30% | 9.10% p.a. | ||
| Loan amount above Rs 75 Lakhs | MCLR + 0.35% | 9.15% p.a. | ||
| Top Up for existing customers | Up to 30%- Same rate at which the home loan is running 30%-100%- LAP rate shall be applicable | |||
| 2 | Fixed rate (for 20 years) | All Loan Amounts | - | 12.00% |
Marginal Cost Based Lending Rate (MCLR) - 8.80%MCLR Reset frequency for Home Loans – Half YearlyBase Rate - 9.50%MRR - 14.25%BPLR - 17.25%Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR. |
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The Axis Bank Home Loan offers a host of benefits such as fixed and floating rate of interest, attractive interest rates, lower EMIs, etc. The charges associated with the Axis Bank Home Loan are minimal and completely transparent.
Other charges**
| Description of charges | Amount (Rs.) |
|---|---|
| Processing Fee Charges | Up to 1% of the Loan amount subject to minimum of Rs. 10,000 Upfront processing fee of Rs 2500 plus GST shall be collected at the time of application login. This fee will not be refunded under any circumstances such as loan rejection/withdrwal 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. |
| Penal Interest Rate | @24 % per annum, 2% per month |
| Switching Fees (Base Rate/BPLR to MCLR)# |
|
| Switching Fees (Floating Rate to Fixed Rate) | 1% on the outstanding principal with a minimum of 10,000/- |
| Switching Fees (Fixed Rate to Floating Rate) | 2% on the outstanding principal amount |
| Switching Fees (Higher Floating Rate to Lower Floating Rate) | Switching Fees (Higher Floating Rate to Lower Floating Rate )# |
| Switching Fees (Higher Floating Rate to Lower Floating Rate) | 0.5% on outstanding principal with minimum of Rs. 10,000. The lower rate will be equal to the applicable carded interest rate only |
| Repayment Instruction/Cheque Return Charges | Rs. 500 per instance |
| Cheque/Instrument Swap Charges | Rs. 500 per instance |
| Duplicate Statement Issuance Charges | Rs. 250 per instance |
| Duplicate Amortization Schedule Issuance Charges | Rs. 250 per instance |
| Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | Rs. 250 per instance |
| Issuance Charges of Credit Report | Rs. 50 per instance |
| Issuance Charges for Photocopy of title documents | Rs. 250 per document set |
| Charges on customer initiated requests for copies of documents | Rs. 250 per document set |
| Prepayment Charges including part prepayment for floating rate loan | NIL |
| Prepayment Charges for fixed rate loan | 2% of the principal outstanding |
| Equitable Mortgage Creation Charges | As applicable in the state |
| CERSAI charges | Rs. 50/- For Loans up to 5 Lakhs Rs. 100/- For Loans above 5 Lakhs |
| Duplicate NOC Issuance Charges | Rs 500 per instance + GST as applicable |
| Loan Cover/ Insurance | Property Insurance is a mandatory requirement to safeguard your home in case of damage caused by unforeseen circumstances, such as fire or other natural disasters. |
# For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed portion of sanctioned amount.
** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
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