Axis Bank Home Loan Interest Rates

Interest Rates 2017 542 views

Axis Bank is one of the leading home loan providers in India that has recently changed the way people used to think of a home. The 12 EMIs waiver on a Shubh Aarambh home loan has made it possible for the borrowers to save more money. As a result of which, the bank has now two best offers for affordable housing with Asha Home Loans and Shubh Aarambh home loan. To know more about the product, read below.

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Axis Home Loan Interest Rate 2017

ParticularsDetails
Interest Rate

8.35% - 8.75%

Loan AmountAbove ₹1 lakh
TenureUp to 30 years
Processing FeesUp to 1% of the loan amount + GST
Prepayment Charges0% for floating rate

Axis Bank Home Loan Interest Rate Calculator

An interest rate calculator or a loan calculator or an EMI calculator are the different names of an online EMI calculator. This is the tool that is used to calculate the EMI on a loan depending on the interest rate, the loan amount, and the tenure. The calculator converts the annual rate of interest into the monthly rate. Along with the details of the monthly EMI, the total interest outgo, and the total amount (interest+principal), you also get the amortization schedule. The amortization schedule shows the balance amount for each year.

Axis Bank MCLR rate

The interest rates on a home loan at Axis Bank are available at both fixed and floating. The rates are linked to its 6 Month Marginal Cost of Lending Rate (MCLR). At present, the MCLR for 6 months is 8.15%.

Axis Bank Home Loan Balance Transfer Interest Rates

Lower your repayments by opting for home loan balance transfer. Yes, move your existing home loan’s outstanding balance to Axis and get ready to reap the benefits in the form of lower EMIs and Interest Outgo. If you opt for BT, the interest rates offered by the bank are low. But, before offering the balance transfer facility to the borrowers, the bank do check the track-record and income of the borrower.

Axis Bank Home Loan Conversion for Existing Customers

Axis Bank offers the interest rate conversion facility to all its existing customers, wherein they can switch from their existing base system of (Base Rate/BPLR/MRR+/-spread) to the new system of 6 Month MCLR (MCLR+spread) without changing the effective rate of interest. Through this way, a borrower can enjoy the reduced EMIs as MCLR rates are comparatively lower. The effect of conversion in the system from existing to new will be provided on an immediate basis, without charging any fee for the same.

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