What is procedure to pre closure Axis bank home loan?

Hey there, I can definitely help you out with Axis Bank home loan pre closure procedure. Over the years, I've helped numerous customers with their home loan requirements, and it's always great to see someone fulfilling their dream of owning a home.

There are a few things you should keep in mind.You need to inform the bank about your intention to pre-close the loan, either in writing or through an email. You can do this by visiting your nearest Axis Bank branch with your cheque book and valid Photo ID, signature proof.

Next, you need to arrange for the pre-closure amount as all outstanding dues must be cleared.This amount includes the outstanding principal amount, along with any other charges or fees applicable. You can find out the exact amount by contacting the bank, and they will provide you with a detailed breakup of the outstanding amount.

You can make the payment of pre-closure amount by cheque, demand draft or online transfer. Make sure to get a receipt or acknowledgement from the bank ie proof of payment, NOC (No Objection Certificate) and the original property documents,

Finally, once the payment is processed, the bank will go ahead with the loan pre closure.

Extra points to remember: 

• Remit the exact amount as per the date of the foreclosure letter as excess payments will not be accepted.

• The cheque/draft must be in favor of AXIS BANK LTD; Loan Account No. XXXXXXXXXX. Outstation cheques are usually not accepted by the bank

• Full and final settlement of the loan will be subject to realization of the cheque/draft and payment of all charges that have accrued on the date of the prepayment.

• In case there are Post Dated / Security Cheques that are not encashed and you wish to have them returned to you, please place a request at the loan center within 45 days from the date of loan closure. If there are no requests received within the stipulated time frame the same will be canceled and destroyed.

Thanks for reading my answer on Axis Bank home loan pre closure procedure.

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