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Axis Bank Home Loan Application Status

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Home Loan Application Process

Once you apply for a Home Loan, the application moves through a number of stages. First of all, as an applicant, you are required to submit your home loan application form along with the list of required documents such as your identity, income and address proofs.

As evident, the entire process from home loan application to sanction is quite complex and therefore having a system in place to track its status can be helpful. It can save you a lot of time and help you plan your next steps.

Axis Bank offers Home Loans to its customers at interest rates starting as low as 6.90% per annum. A borrower can pick from a range of Axis Bank home loan schemes for a loan tenure stretching up to 30 years. In this article, we help you understand the importance of using the Axis Bank Home Loan Eligibility calculator to know how much home loan you are likely to qualify for.

Axis Bank Home Loan

Application Status

Tracking your application status on the Axis Bank website is super simple. You can check your status even on the go as the tracker is available on the mobile app as well. Given below is the breakdown of the procedure to track the status:

How to Check the Status Using Axis Bank Portal?

How to Check Your Home Loan Application Status on Fincity?

If you are a Fincity customer, you can track your loan application online in clicks or via a single phone call. Here are the steps involved:

Online:

Follow the below steps to track your home loan application online.

Via Phone:

You can also choose to call the Fincity customer service number at +91 8296242646 and have a Fincity home loan advisor help you find out the loan status instantly.

Axis Bank Home Loan Eligibility Calculation

Criteria

Particulars

Note: The details mentioned above are subject to change at the discretion of the lender

Formula for EMI Calculation

Generally, the EMI for a Home Loan is calculated using the given formula:

E = P * r * (1+r) ^ n / ([(1 + r) ^ n] – 1)

E = Equated Installment

In the formula mentioned above,

P = Amount of Loan

This is the total obligations required to pay per month

This can be anywhere between Rs.15,00,000 to Rs.5,00,00,000

r = Rate of Interest

This means the interest rate per month. For Axis Bank, this ranges from 6.9% to 8.30%

n = tenure in months

For Axis Bank Home Loans, the tenure ranges from 60 months all the way up to 360 months or 30 years.

Usually, the tenure for a home loan ranges from 15 years to 30 years

Factors That Affect the EMI of Home Loan

Home Loan EMI can be calculated using an online Housing Loan Calculator which takes into account many factors like loan amount, interest rate and the tenure or duration for which you are planning to avail the loan.

Fincity offers Home Loan for amounts as low as Rs. 30 lakhs to as high as Rs. 5 Crores.

Home Loan Fees and Additional Charges

Depending on the loan type you are applying for, a few charges may be levied. They are mentioned below:

I hereby declare that I have read the consent. and I appoint and allow FINCITY to access my credit information from Credit Information Companies in order to understand my creditworthiness and thereinafter provide personalized values that would help them generate the Credit Information Report, Credit Score, and Credit Analysis. I/We hereby authorize FINCITY & its affiliates including banking partners to call or SMS and/or WhatsApp with reference to my application or in relation to any of FINCITY products, notwithstanding anything to the contrary that may be contained anywhere, including any registration for DNC/ NDNC.

Axis Bank Home Loan