20 Lakh Home Loan

Own a property easily with a Rs 20 lakh Home Loan

Embark on a rewarding journey towards homeownership with our streamlined online application process. Achieve financial stability and enjoy the benefits of property ownership with a Rs 20 lakh Home Loan from Axis Bank. Pre-qualify effortlessly, apply seamlessly, and secure your future with confidence.

20 Lakh Home Loan EMI for 10 Years

With the following details, let us calculate EMI on a 20 lakh home loan for 10 years.

Note: Considering 8.75% home loan interest on 20 lakhs in the below scenarios.

Similarly, using Axis Bank Home Loan EMI Calculator, you can calculate 20 lakh home loan EMI for 5 years.

Documents necessary for a ₹20 Lakh Home Loan:

• Mandatory Documents- Application Form and PAN Card
• Any one of the following for Identity Proof - Passport, Aadhaar Card, Driving License, Voter ID
• Any one of the following for Proof of Address- Aadhdaar Card, Gas Bill, Driving License, Voter Id, Electricity Bill, Telephone Bill (Landline) Property Tax Receipt, Job Card by NREGA duly signed by an officer of the State Government, Letter issued by National Population Register confirming details of Name, Address, Photograph
• Any one of the following for Date of Birth proof - Passport, PAN Card, Aadhaar Card with DOB, Driving License, Birth Certificate, SSC Marksheet
• Any one of the following for Signature Proof - Passport, PAN Card, Banker’s verification, Notarized affidavit with ID and Address proof (not applicable for financial applicant)

Additional Documents for Salaried Individuals ₹20 Lakh Home Loan:
Any one of the following for proof of income:

• 3 months pay slip
• 6 months pay slip showing all deduction for variable income
• 6 months bank statement showing salary credits
• 2 years Form 16 (or employment continuity proof)

For NRI salaried individuals:

• 3 months pay slip
• Appointment letter/contract letter
• Continuous Discharge Certificate for Shipping cases
• 6-month Domestic NRE/NRO A/C statement
• 6 months international Salary A/C statement
• Overseas credit report
• Valid visa copy/OCI card
• Passport copy
• POA details

Additional Documents for Self-employed Individuals ₹20 Lakh Home Loan:

• 2 years ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
• For Asha Home Loan - 1 year ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
• Tax Audit Report (required for individuals whose sales turnover exceed the norms stipulated by the Income Tax Act)
• 6 months bank statements of personal and business accounts
• If ITR is filed without a digital sign - CPC and tax paid challan
• Three years business continuity proof

Factors influencing the interest rate applicable to a ₹20 Lakh Home Loan:

• RBI’s repo rates - Changes in the RBI’s rates impact Home Loan interest rates.
• Type of loan chosen - A Floating Rate Home Loan generally has a lower interest rate compared to a Fixed Rate Home Loan.
• Job profile and credit score also affect the interest rate. A stable job and high credit score may result in a better interest rate for a Home Loan of Rs 20 lakh.