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| Home »Banks Providing home Loans » Axis Bank |
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Axis Bank Home Loans |
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Taking home loans are attaining wide spread popularity with the increasing demand of real estate and more people are investing money to own a home of their own. Home Loans in India also offer tax benefit and there are numerous Banks Providing Home Loans in our country. Axis Bank is one of the most reputed private sector banks in India and Axis Bank Home Loans have been able to fulfill many people dream of buying a house of their own which they can call their home and they can also pass on to their successors. The key features of Axis Bank Home Loans are as follows:
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Attractive interest rates
Balance Transfer facility
Doorstep service
Option to choose from floating rate or fixed rate
Free Property & Personal accident insurance
Axis Bank Home Loans are available on the following grounds:
Purchase of a plot of land and construction of a house thereon
Construction of a house on plot of land already owned
Purchase of a new house or flat
Residual age of the property should not be less than 30 years old (Home Acquisition Plan)
Extension or renovation or repair of a house or flat already owned by self (improvement or extension plan)
Take-over of existing Housing Loan (Balance Transfer)
Pre-allotment booking finance
Loan takeover with additional refinance (Balance Transfer + top up)
Loan to NRI for purchase of ready residential property only
Purchase of residential plots only
One of the major criterion for Axis Bank Home Loans is that the amount of loan should range between 1 lakhs to 50 lakhs. A few other facts that the applicants are required to be aware of if they are applying for Axis Bank Home Loans comprises of the following;
Repayment period for home loans shall not exceed 20 years
Repayment period of pre-allotment bookings of housing loans shall not exceed 1½ year
Repayment period of improvement or renovation or extension of existing property shall not exceed 10 years
The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
The loan will be disbursed in full or in suitable installments, taking into account the requirement of funds and progress of construction, as assessed by the Bank directly to seller or builder or local development authority or supplier of materials etc.
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