Axis bank home loans have always been one of the most reliable sources for receiving home loans. The interest rates of Axis Bank for home loans are also highly reasonable and affordable. So, it is not just efficient but affordable as well. Additionally, there are several types of home loans that Axis Bank offers. The list of the types of home loans that Axis Bank offers is simply unending. Each type has its features and benefits, and each of them suits different borrowers.
In the following discussion, we will cover the discussion of types of home loans that Axis bank offers. However, there are many types of it, so we would be covering five of the types. And we will mention the rest of the types in the list. So, let us begin the list of the first five types of home loan types that Axis Bank offers:
Five home loan types offered by the Axis Bank
Before we start with the last, let us know what a home loan is, when one borrows a sum from a bank to build a home, apartment, or any such assets. The borrowing sum becomes a home loan. And the borrower has to pay back that sum and an additional interest rate. This rate of interest differs from one bank to another.
With that, let us now start with the loss of five types of home loans that Axis Bank offers.
- Axis Bank Home Loan
The Axis bank home loan is for Indian residents, self-employed customers, and NRIs. The rates of interest are highly attractive as well as floating. The loan amount can be up to Rs. 5 Crore. And the maximum tenure for paying the loan back with interest is 30 years.
- QuickPay Home Loan
This is yet another type of home loan that Axis Bank offers. In this type of loan, the monthly installments are reduced. The loan can be up to a sum of Rs. 5 Crore. And here, too, the maximum tenure for paying back the loan and the interest rate is within 30 years.
- Shubh Arambh Home Loan
In this type of home loan by Axis Bank, the bank offers 12 EMIs off on the regular payment of the EMIs. There are four EMIs waived, and they are waved on the fourth, eighth, and twelfth year-end. Here, the maximum loan amount is Rs. 30 lakh, and the maximum tenure for paying back the loan and the interest rate is within 30 years.
- Fast Forward Home Loan
This is the type of home loan that Axis Bank offers, whose features are similar to that of the Shubh Aarambh Home Loan to some extent. Here too, there are 12 EMIs off on the regular payment of the EMIs that the bank offers. And there are six EMIs waived at the end of the tenth and the fifteenth year. The bank absolutely charges zero extra charges, and also, there are absolutely no prepayment expenses or costs implemented by the bank.
- Asha Home Loan
The feature of the Asha Home Loan by Axis Bank is that it is an affordable type of home loan. This type of home loan by the Axis Bank is available for salaried and self-employed customers. This loan is available for those with a combined minimum income of Rs. 8000 p.m. the range of loan amount starts from Rs. 1 lakh and can be up to Rs. 35 lakh. The maximum tenure for paying back and the interest rate is within 30 years and is available when the combined minimum income of the borrower is Rs. 8000 p.m.
The above was only five of the several types of home loans offered by the Axis Bank.
Some of the other types of loans offered by the bank are –
- Top-Up Home Loan
- Fast Forward Home Loan
- Power Advantage Home Loans
- Super Saver Home Loan
Axis bank’s home loan interest rate is reasonable and affordable. And it varies from one type to another, based on the requirements and the customers.