A home renovation often begins with one repair and quickly grows into a larger project involving flooring, plumbing, painting, furniture or a complete kitchen upgrade. These cannot be covered under a traditional home loan. However, Axis Bank’s personal loan for home renovation provides unsecured funding for these expenses without asking you to mortgage the property.
The bank offers up to ₹25 lakh through the online route and up to ₹50 lakh through a branch, with repayment tenures extending to 84 months. Interest rates currently range from 11.25% to 22% per annum, based on the applicant’s financial profile.
Axis Bank Personal Loan for Home Renovation Overview
The Axis Home Renovation Loan combines the flexibility of a personal loan with a repayment period long enough to support both essential repairs and planned interior upgrades.
| Particular | Product Detail |
|---|---|
| Loan type | Unsecured personal loan |
| Online loan amount | Up to ₹25 lakh |
| Branch loan amount | Up to ₹50 lakh |
| Interest rate | 11.25% to 22% p.a. |
| Repayment tenure | 12 to 84 months |
| Collateral | Not required |
| Eligible profile | Salaried applicants under the published personal loan criteria |
| Minimum monthly income | ₹15,000 for Axis Bank customers and ₹25,000 for non-Axis customers |
| Application mode | Online or at an Axis Bank branch |
| Common uses | Repairs, remodelling, interiors, painting, plumbing and electrical work |
Since the bank transfers the approved funds to your account, you can divide the amount among contractors, suppliers, designers and other service providers according to the renovation schedule.
Also Read: Axis Bank Personal Loan
Axis Bank Home Renovation Loan for Salaried Applicants
A steady salary gives the bank a clear picture of how much EMI your monthly budget can support. Axis Bank accepts eligible salaried doctors, government employees and employees of approved public and private companies.
Here are the eligibility factors for salaried applicants:
| Eligibility Factor | Published Requirement |
|---|---|
| Employment profile | Salaried employees, salaried doctors, government staff and eligible company employees |
| Minimum age | 21 years |
| Maximum age | 60 years at loan maturity |
| Minimum income for Axis customers | ₹15,000 per month |
| Minimum income for new customers | ₹25,000 per month |
| Credit score | A score of 700 or above supports a stronger application |
| Income proof | Latest 3 salary slips and Form 16 |
| Bank statements | Last 3 months |
For example, replacing tiles and upgrading a kitchen can require several payments over a few weeks. Before deciding the loan amount, estimate the complete project cost and leave room for unexpected labour or material expenses.
Axis Bank Home Renovation Loan for Self-Employed Applicants
Axis Bank’s dedicated renovation personal loan page publishes eligibility for salaried individuals. Self-employed homeowners can instead explore the bank’s home improvement or home loan route, which accepts professionals, entrepreneurs and business owners with documented income.
These are the eligibility criteria for self-employed applicants:
| Assessment Area | Published Home Loan Requirement |
|---|---|
| Applicant profile | Self-employed professionals, business owners and entrepreneurs |
| Age | Above 21 years at application and below 65 years at loan closure |
| Minimum loan amount | ₹3 lakh |
| Income tax records | ITRs for the previous 2 years with income computation |
| Financial statements | Profit and loss account and balance sheet with CA certification |
| Bank statements | Last 6 months |
| Business proof | Registration, GST records or professional documents |
| Property documents | Ownership, title and approved property records |
This route involves more documentation because the bank reviews both income continuity and property details. However, it can suit a self-employed homeowner planning a larger structural renovation or extension.
Also Read: Marriage Loan
Axis Bank Home Renovation Loan Interest Rate
The rate determines how much the renovation ultimately costs after interest. Axis Bank currently lists a range of 11.25% to 22% per annum for its home renovation personal loan.
| Interest Rate Detail | Published Information |
|---|---|
| Starting rate | 11.25% p.a. |
| Maximum rate | 22% p.a. |
| Rate type | Fixed personal loan rate |
| Rate assessment | Based on creditworthiness and loan details |
| Repayment range | 12 to 84 months |
| Interest calculation | Reducing outstanding principal |
A higher credit score, stable salary and lower existing debt can support better pricing. Meanwhile, missed repayments, high card balances and several active loans can increase the offered rate or reduce the sanctioned amount.
Features & Benefits of Axis Bank Personal Loan
A renovation budget needs flexibility because the final cost often changes after contractors begin the work. The Axis home improvement loan gives you one pool of funds that you can use across different parts of the project.
- Funding up to ₹50 lakh: The branch route supports large renovation budgets, while the online route offers up to ₹25 lakh.
- No collateral: You do not need to pledge the house, investments or another asset under the personal loan route.
- Tenure up to 84 months: The extended repayment period helps spread the cost of major renovations.
- Quick processing: Axis Bank states that online disbursal can take place within minutes after approval and verification.
- Minimal paperwork: The online process reduces physical document submission for eligible applicants.
- Flexible use: Funds can cover painting, flooring, plumbing, wiring, carpentry, furniture and appliance upgrades.
- Property improvement: Practical repairs and updated interiors can improve comfort and support the property’s future value.
- Fixed EMI: The personal loan rate remains fixed, which keeps the monthly instalment predictable.
- Part-payment facility: Eligible borrowers can reduce the principal after receiving bonuses or other additional income.
- Potential tax deduction: Axis Bank states that qualifying renovation-loan interest can receive a deduction of up to ₹30,000 under Section 24. Keep invoices and consult a tax professional before claiming them.
Axis Bank Home Renovation Loan Fees and Charges
Material estimates and contractor quotations are only one part of the project budget. Loan fees also affect the net amount available for renovation work.
Here are the details of fees and charges related to the home renovation loan:
| Charge | Published Amount |
|---|---|
| Processing fee | Up to 2% of the loan amount plus GST |
| GST on processing fee | 18% |
| Stamp duty | According to applicable state law |
| Foreclosure below ₹10 lakh | 3% up to 36 paid EMIs and 2% after 36 paid EMIs |
| Part-payment within stated free limit | No charge after 12 paid EMIs for up to 25% of principal outstanding in a year |
| Loan cancellation within 3 days | Interest, processing fee, stamp duty and statutory charges remain payable |
| Cancellation after 3 days | Treated as foreclosure |
For instance, a 2% processing fee on a ₹10 lakh loan equals ₹20,000. GST adds ₹3,600, taking the total fee to ₹23,600. It is advised to confirm whether the bank deducts these charges before transferring the renovation funds.
Documents Required for Axis Bank Home Renovation Loan
Keeping documents ready helps the application move forward while you finalise contractor quotations, design plans and material selections. These are the different documents needed for salaried and self-employed individuals:
| Document Category | Salaried Personal Loan Route | Self-Employed Home Loan Route |
|---|---|---|
| Application form | Completed personal loan form | Completed home loan form |
| Identity proof | Passport, Aadhaar, driving licence or voter ID | Passport, Aadhaar, driving licence or voter ID |
| PAN | PAN card | PAN card |
| Income proof | Latest 3 salary slips and Form 16 | 2 years’ ITRs with income computation |
| Bank statements | Last 3 months | Last 6 months |
| Financial statements | Not required under standard salaried criteria | Profit and loss account and balance sheet |
| Business proof | Not applicable | GST, registration or professional proof |
| Property documents | Ownership documents where requested | Title deed, approved plan and related property papers |
Axis Bank states that eligible applicants can complete the personal loan digitally without physical document submission. The bank can still request additional information when verification requires it.
Axis Bank Home Renovation Loan EMI Calculator
Before work begins, use the EMI calculator to balance design choices with the amount your monthly income can comfortably support.
A longer tenure lowers the EMI but increases total interest. A shorter tenure costs more each month but reduces the overall borrowing expense.
How to Apply for Axis Bank Home Renovation Loan Online
Once the repair list and estimated budget are ready, the online application lets you complete the finance process without interrupting meetings with contractors or designers.
- Open the official Axis Bank Personal Loan for Home Renovation page.
- Select Apply Now.
- Enter your mobile number, PAN and date of birth.
- Complete OTP verification.
- Provide personal, employment and income details.
- Submit consent for KYC and financial verification.
- Upload or digitally verify the requested documents.
- Select the required loan amount and tenure.
- Review the interest rate, EMI, fees and net disbursal.
- Read the Key Facts Statement and loan agreement.
- Complete video KYC and the eNACH mandate when requested.
- Accept the offer after checking the complete repayment cost.
How to Check Loan Application Status
If you have applied for a personal loan for home renovation, you can track the application before confirming payment dates or starting work. Here is how you can track the application:
- Open the Axis Bank personal loan application tracker.
- Keep the application ID or PAN ready.
- Select the relevant personal loan application.
- Enter the requested identification details.
- Complete OTP or captcha verification.
- Submit the form to view the current status.
- Check whether Axis Bank has requested additional documents.
- Contact customer care when the status remains unchanged beyond the stated processing period.
Factors Affecting Loan Approval
Once you have applied for the loan, Axis Bank bases the decision on whether the proposed renovation EMI fits the applicant’s regular financial commitments after the project is complete.
- Credit score: A score above 700 and timely repayment history strengthen the profile.
- Monthly income: Higher stable income supports a larger affordable EMI.
- Existing debt: Home, vehicle and credit card repayments reduce available capacity.
- Employment stability: Longer service with the current employer supports income continuity.
- Requested amount: A realistic renovation budget aligned with income improves the application.
- Bank account activity: Regular salary credits and fewer failed payments support the assessment.
- Recent enquiries: Several loan applications within a short period can weaken the credit profile.
- Document accuracy: Matching KYC and income details prevent verification delays.
- Axis Bank relationship: Existing customers with established account activity can receive a simpler assessment.
- Repayment tenure: The selected term should keep the EMI within a comfortable monthly range.
Axis Bank Home Renovation Loan Customer Care
Questions can arise at every stage, from checking the application to downloading a statement or arranging part-payment after the renovation is complete. Axis Bank provides phone, WhatsApp, mobile banking, online and branch support for these needs.
| Support Channel | Contact Detail |
|---|---|
| Toll-free phone banking | 1800 209 5577 |
| Toll-free phone banking | 1800 103 5577 |
| Chargeable phone banking | 1860 419 5555 |
| Chargeable phone banking | 1860 500 5555 |
| Loan service hours | 8:00 a.m. to 8:00 p.m., Monday to Saturday, excluding national holidays |
| WhatsApp Banking | Send ‘Hi’ to 7036165000 |
| Mobile banking | Open by Axis Bank app |
| Online support | Axis Bank support portal |
| In-person assistance | Nearest Axis Bank branch or loan centre |
Never share an OTP, PIN, banking password or complete account credentials with anyone promising faster approval or disbursal.
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