Axis Bank-Home Loans

Sep 6th, 2008 | By admin | Category: AxisBank, home loans

Power Home

Quick and easy home loans

Need help buying a home?

Axis Bank’s Power Home puts an end to your Real Estate troubles. Augment your reach and buy the house that you’ve set your heart on.

Features

You can apply for Power Home for the following purposes

Purchase of a plot of land and construction of a house thereon
Construction of a house on plot of land already owned
Purchase of a new house or flat
Residual age of the property should not be less than 30 years old (Home Acquisition Plan)
Extension or renovation or repair of a house or flat already owned by self (improvement or extension plan)
Take-over of existing Housing Loan (Balance Transfer)
Pre-allotment booking finance
Loan takeover with additional refinance (Balance Transfer + top up)
Loan to NRI for purchase of ready residential property only
Purchase of residential plots only

A) Salaried Individuals

Any individual who is in permanent service in Government or reputed companies
The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation

B) Professionals

Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply
The applicant should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

C) Self Employed Individuals

Any individual filing Income Tax returns can apply
The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Documents Required

The following documents are required along with your loan application:

Purpose	Salaried	Others
Proof of identity	Voter’s ID card or driving license or PAN card or photo credit card or employees ID card or defense or police or government department ID card	Voter’s ID card or driving license or PAN card or photo credit card
Proof of income	Latest salary slip showing all deductions or Form 16 along with recent salary certificate	IT returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence	Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement	Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address
Bank statement or Pass Book where salary or income is credited	Last 6 months	Last 6 months
Guarantor form	Optional	Optional