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Axis Bank brings you Empower Home Loan facility. There are many banks that offer home loans that are affordable and hassle-free, but buying a home is a life-time investment and one need to be very cautious in financial computation. Axis Bank not only helps you to manage your present but also plans out your savings for your future. They have loan repayment schemes that are easily manageable. They are known for the Best Loyalty Programs in the Financial Sector.
One must fulfil the following criteria to be eligible for Axis Bank Empower Home Loan:
Maximum Loan Amount Individual Can Avail
Axis Bank Empower Home Loan Interest Rate
Marginal Cost Based Lending Rate (MCLR) – 8.50%
Base Rate - 9.20%
Under this home loan scheme, customers can use the loan amount for the following purposes:
The customer is to get the lower of 65% of the property documented or as per the market value of the property against which loan is to be secured.
Three assured rate reductions
Along with the money lending service in times of need, Axis bank also offers an advantage to get three assured rate reductions if the customer maintains a good repayment track. The reductions can be availed on for 24, 36 and 60 months from the date of first disbursement for the 1st, 2nd and 3rd rate reduction respectively
Axis Bank provides facility to make online payment for processing prepayment. Along with this you have Cheques and DD facility to make your prepayments anytime and from anywhere. The online prepayment facility is fast and secure. Interest is calculated on monthly basis and the principal amount on which interest rate is calculated is reduced every month. Axis Bank serves you the best way to enhance your savings.
Customer can request for the final disbursement by paying interest on the portion of the loan to be disbursed. This is payable on monthly basis from the date of each disbursement up to date of commencement of EMI
1. There is no prepayment and foreclosure charges with Axis Bank Empower Home Loan
2. There is no need to maintain any minimum balance in the account during the tenure of the loan.
3. The Final Interest certificate is sent to your mailing address once in a year.
4. Provisional interest certificate can be downloaded from the bank website.
5. You get free access to Axis Bank ATMs in India and in a calendar month you can have five free transactions of other banks in India
6. You can easily download the Axis Bank App on mobile and can easily manage your account.
7. Axis bank has 24*7 dedicated Phone banking service
8. Post-dated cheques are acceptable at Axis Bank Centres.
9. Through mobile alert you are updated on outstanding amount, payment made, bill generations etc.
10. Get the home loan from Axis Bank at the doorsteps.
11. In case of entire loan repayment customer can continue with the Axis Bank Account for banking transactions by maintaining minimum balance requirement.
1. Can I switch from higher “Floating rate” to lower “Floating rate” option?
Under this loan facility customers are not eligible to switch over.
2. How change in the Base rate impact my interest rate?
Change in the Base rate has impact on your interest rate. The mark-up will be reduced at the pre-determined dates and hence the impact of the same will be affected in your rate of interest.
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Home Loan Scheme
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