Axis Bank's Power Home is offering very attractive scheme for your dream home.

Features :-

• Attractive interest rates
• Balance Transfer facility
• Doorstep service
• Option to choose from floating rate or fixed rate

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

Eligibility :-

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 (i.e. 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
B) 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 :-

• Voter's ID card/driving license/PAN card
• Latest salary slip showing all deductions or Form 16 along with recent salary certificate
• Bank account statement/latest electricity bill/latest mobile/telephone bill/latest credit card statement/latest LIC policy/insurance premium receipt
• Last 6 months Bank statement or Pass Book where salary or income is credited

Limits on home loan :-

• Minimum - Rs 1 lac
• Maximum - Rs 50 lacs

Margin :-

• 20% in the case of home loans
• 25% in case of improvement or renovation loans

Rate of Interest :-

Floting	Up to 30 Lacs Above 30 Lacs	9.25% 10.25%
Fixed	Irrespective of the loan amount	14.00 %

Repayment :-

• Repayment period for home loans shall not exceed 20 years
• Repayment period of pre-allotment bookings of housing loans shall not exceed 1¹/₂ year
• Repayment period of improvement or renovation or extension of existing property shall not exceed 10 years

Processing charges or admission fee : Processing fee equivalent to 0.5% of the loan amount