Mumbai: Axis Bank, India’s third largest private sector bank, today announced the addition of a unique home loans to their already strong ‘affordable housing’ segment. Shubh Aarambh Home Loans will enable borrowers applying for loans upto Rs. 30 lakhs to avail additional benefit of 12 EMIs waiver.
In a bid to address the changing needs of customers, Axis Bank has introduced Shubh Aarambh Home Loans – where the customer with regular repayment gets 12 EMIs waived – 4 EMIs each after 4th, 8th and 12th year from the date of 1st disbursement. The effect of EMI waiver shall be given in the form of reduction in tenure.
Speaking at the launch, Rajiv Anand, Executive Director – Retail Banking, Axis Bank, highlighted, “The government’s efforts in boosting the affordable housing segment has been relentless and Axis Bank feels privileged to be a constant partner in this initiative. Through these products we aim to provide further value addition to our customers in a highly competitive environment and at no incremental cost. This would also encourage regular repayments by the customer.”
The loans can be used to purchase an under construction/ready/resale house, self-construction and plot plus construction. Customers also have the option to transfer any existing home loans
to Axis Bank without any additional cost.
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