Axis Bank sweetens home loan scheme

By siliconindia   |   Wednesday, January 6, 2010   |    5 Comments
Print Print Email Email
Mumbai: To attract more number of consumers, Axis Bank has sweetened its fixed-cum-floating home loan offer. The scheme, known as the 'Power Advantage Home Loan' scheme, will allow customers to lock in their home loan rate at 8.25 percent for the first two years of the tenure followed by a floating rate. Two months ago, the bank had announced a scheme wherein the interest rate would be fixed at 8.0 percent for the first year followed by a floating rate. In the new scheme, after the first two years, the floating rate of interest would be applicable at Mortgage Reference Rate (MRR) minus 350 basis points (bps) for loans up to Rs.30 lakh and MRR minus 300 bps for loans greater than Rs.30 lakh. Mortgage reference rate is the basis for floating rates in a housing loan. The scheme is open till March 31, 2010 and the maximum tenure of the loan will be of 25 years.
Looking For Loan? Let us Help you !!!
Loan Amount
Annual Income
Preferred banks
Type the characters you see in the picture
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..