Axis Bank Home Loan Prepayment Calculator
Calculate how part-prepayments reduce the tenure and total interest payable on your Axis Bank home loan. Model both tenure reduction and EMI reduction scenarios according to RBI reducing-balance guidelines.
1. Enter Your Axis Bank Loan Details
2. Estimated Interest Savings
Option A: Reduce Tenure (Keep EMI)
RecommendedOption B: Reduce Monthly EMI
Cash ReliefAxis Bank Home Loan Prepayment Rules & Guidelines
Axis Bank is one of India's leading private sector commercial banks. Floating-rate home loans issued by Axis Bank are pegged to the external benchmark, the Repo-Rate Linked Lending Rate (RLLR).
1. Are There Prepayment Charges on Axis Bank Floating-Rate Loans?
Zero Prepayment Penalties: In strict compliance with RBI directives (Circular RBI/2014-15/64), Axis Bank cannot levy any prepayment or foreclosure penalty on floating-rate home loans sanctioned to individual borrowers, regardless of whether the loan is prepaid from personal savings or transferred to another institution.
Fixed Rate Loans & Business Entities: For fixed-rate home loans, or loans where the borrower is a company, partnership firm, or commercial enterprise, foreclosure charges (typically 2% to 3% + GST) may be applicable.
2. How to Execute an Axis Bank Part-Prepayment
- Online via Axis Internet Banking: Log into Axis Bank Internet Banking. Navigate to Loans > My Loans > Part Payment. Select your linked savings account and transfer the prepayment amount.
- Online via Axis Mobile App: Open the Axis Mobile app, navigate to the Loans section, select your home loan account, and initiate an online part payment via UPI or net banking.
- Offline via Axis Bank Loan Centre: Visit an Axis Bank Asset Service Center (RAC) with a cheque or demand draft and submit a signed prepayment intimation letter stating your preferred adjustment (tenure reduction vs EMI reduction).