Axis Bank Home Loan Rates

Axis Bank Home Loan Rates

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When you plan to buy a home, getting a good deal on your home loan is probably the most crucial part. Axis Bank home loan is a saviour in such a scenario, offering quick and easy options to buy your dream home. They have designed their housing loans to suit the needs of today's home hunters by including features like attractive interest rates, balance transfer facility, doorstep service and option to choose from floating to fixed rate of interest. Moreover, they are regarded as the best home loan providers in India, owing much to a myriad of additional features like flexible tenures, quick service and transparent processing. They even offer you pre-allotment booking finance for booking your dream home.

While choosing your home loan, the single most important thing to consider is the rate of interest. The rate of interest is directly proportional to the monthly installment. In an effort to keep your EMI within your budget, Axis Bank home loan rates are formulated to be the most competitive in the market. The current floating rates range from 10.75% per year to 12.00% per year. One of the drawbacks of floating interest rate is that the monthly installments can be uneven, which can throw your budget out of order. However, floating home loan rates are at least 1% to 2% cheaper than fixed interest rates, thereby helping you save money in the long run. An alternative option is to go for a fixed rate loan, if you are unsure of market trends and want the security and certainty offered by a fixed rate. This way you may enjoy the comfort of being locked into a rate for a period of time and not worry about your budget being affected. The current fixed rate offered by Axis Bank is 14% per year. You may also switch from the floating rate to the fixed rate scheme and vice versa. A customer may even have the loan rescheduled to a lower interest rate offered.

You can get home loans from Axis Bank for several different requirements; for purchase of land and house construction on it, construction of a house on a plot already owned, or purchase of a new home. They can also be availed for extension, renovation or repair of a house owned by the customer. Axis Bank also offers takeover of an existing home loan.

These home loans can be applied for a maximum of 85% of the property value in case of home loans and 75% of the property value in case the customer wants an extension, renovation or repair. These loans can be availed for a maximum tenure of up to 25 years. The bank even provides loan to NRIs for purchasing a ready to use residential property.

The attractive features of the Axis Bank home loans are not limited to the above. The bank charges a processing fee of only 1% of the loan amount along with applicable service tax to its customers. That is among the lowest in the market. Paying off the loan earlier than the set loan term is also easy. This is probably the most attractive feature of these home loans. As against other banks that generally apply early redemption charge of 2% of the amount being paid early, there is no early redemption charge applied by Axis Bank. This really shows how much the bank values its customers.

If you are planning to buy your dream home, you just cannot resist taking your eyes off the incredible Axis Bank home loans. You definitely do not want to let go and end up paying more, turning your home loan into a nightmare.

About the Author:
For the best Axis Bank home loan rates, call +91 9212787850 53, or visit Axis Bank Home Loan site, fill out the form, and we will get back to you ASAP.



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