Estimate your monthly Axis Bank home loan EMI, including principal, interest, property tax and home insurance, and view the full repayment schedule.
Axis Bank home loan interest rates are linked to its external benchmark rate and vary by loan amount and your credit score. Enter your sanctioned or applicable rate — check axisbank.com or your branch for current rates.
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This calculator estimates your monthly Axis Bank home loan EMI (Equated Monthly Instalment), total interest payable over the loan tenure, and total repayment amount. It also lets you include property tax and home insurance to get a complete picture of your total monthly housing cost. Use it to plan your home loan before applying at Axis Bank and to compare different loan amounts, interest rates, and tenures to find an EMI that fits your monthly budget.
Axis Bank calculates home loan EMIs on the monthly reducing balance method, where interest is charged on the outstanding principal at the end of each month. As the principal reduces with each EMI, the interest component decreases over time and the principal component increases.
Formula: Loan = Property Price − Down Payment. EMI = [P × R × (1 + R)N] ÷ [(1 + R)N − 1], where R = monthly interest rate, N = total months.
Example: Property ₹60,00,000, down payment ₹12,00,000, loan ₹48,00,000 at 8.5% per annum (example rate — enter your Axis Bank sanctioned rate), 20-year tenure: Monthly EMI ≈ ₹41,655.52. Total interest ≈ ₹51,97,323.65. Total repayment ≈ ₹99,97,323.65. (Note: property tax of ₹12,000/year and home insurance of ₹6,000/year add ₹1,500/month to the total housing cost.)
Axis Bank is one of India\'s leading private sector home loan lenders, offering home purchase loans, construction loans, plot purchase loans, home renovation loans, and balance transfers. Axis Bank home loan interest rates are linked to the External Benchmark Lending Rate (EBLR), pegged to the RBI Repo Rate — rates move with RBI policy decisions. This means EMIs can change when the RBI revises the repo rate, making floating rate home loans subject to rate risk. Axis Bank home loans are available to salaried employees, self-employed professionals, and business owners for tenures up to 30 years, with loan amounts typically from ₹3 lakh to ₹5 crore. A CIBIL score of 700+ is generally required; the best rates go to borrowers with 750+. The maximum LTV ratio is governed by RBI guidelines: up to 90% for loans up to ₹30 lakh, up to 80% for ₹30-75 lakh, and up to 75% for above ₹75 lakh. Two key income tax deductions apply to home loans: Section 24(b) allows up to ₹2 lakh per year deduction on home loan interest for self-occupied property; Section 80C allows up to ₹1.5 lakh per year deduction on principal repaid (combined with other eligible investments). Joint home loans allow both co-borrowers to individually claim these deductions, doubling the effective tax benefit for a household where both earn taxable income.
Axis Bank home loan rates are linked to the EBLR (External Benchmark Lending Rate), pegged to the RBI Repo Rate. Indicative rates for salaried borrowers with a CIBIL score of 750+ start from around 8.75% per annum and vary based on the loan amount, borrower profile, and property type. Rates for self-employed borrowers and those with lower CIBIL scores are typically higher. Check axisbank.com or contact a branch for current rates, as they change with RBI Repo Rate revisions. The exact rate will be confirmed in the loan sanction letter.
Two primary deductions are available: (1) Section 24(b) — interest on a self-occupied home loan is deductible up to ₹2 lakh per year. For a rented-out property, the full interest is deductible against rental income. (2) Section 80C — principal repaid during the financial year is eligible for deduction up to ₹1.5 lakh per year (shared with other 80C investments). First-time buyers of affordable housing (subject to specific conditions) may also claim an additional ₹1.5 lakh deduction under Section 80EEA. Joint borrowers can claim these deductions individually, which effectively doubles the household tax benefit.
For floating rate home loans from Axis Bank (linked to EBLR/Repo Rate), prepayment and foreclosure are generally free for individual borrowers per RBI guidelines. Fixed rate home loans may have prepayment charges. Making partial prepayments reduces the outstanding principal, which either shortens the remaining tenure or reduces the EMI (confirm the preferred option with Axis Bank at the time of prepayment). Prepayment is one of the most effective strategies for reducing total interest on a long-term home loan.
Per RBI guidelines: up to 90% LTV for loans up to ₹30 lakh (10% minimum down payment); up to 80% LTV for loans between ₹30 lakh and ₹75 lakh (20% minimum down payment); up to 75% LTV for loans above ₹75 lakh (25% minimum down payment). These are the regulatory maximums — Axis Bank may apply lower LTVs based on the property type, location, and borrower profile. Under-construction properties and certain property types may attract lower LTV limits.
A minimum CIBIL score of approximately 650-700 is typically required for Axis Bank home loan consideration, though approval at this level may come with higher rates or additional requirements. Scores of 750+ are required for the best rates. Axis Bank uses CIBIL (and sometimes Experian or CRIF High Mark) as a primary eligibility and rate-setting factor. Before applying, check your CIBIL score for free on the CIBIL website — if it is below 700, take steps to improve it before applying.
FOIR (Fixed Obligation to Income Ratio) is the proportion of your gross monthly income committed to fixed debt obligations (all EMIs). Most banks, including Axis Bank, require FOIR to be below 50-55% after including the new home loan EMI. For example, if your gross monthly income is ₹80,000 and you already pay ₹10,000 in other EMIs, your available FOIR capacity for the home loan EMI is ₹80,000 × 50% − ₹10,000 = ₹30,000/month. Use this calculator to see the EMI at different loan amounts and tenures, and ensure the EMI stays within your FOIR capacity.
Disclaimer: This calculator is an independent tool and is not affiliated with or endorsed by Axis Bank Limited. Interest rates, LTV ratios, and eligibility criteria shown are examples only. Actual home loan terms depend on Axis Bank's prevailing rates (linked to EBLR/RBI Repo Rate), your CIBIL score, income, FOIR, and property type. Tax benefit information is based on current Income Tax Act provisions and may change. Always verify current rates at axisbank.com. Consult a financial adviser before taking a home loan.