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.
Shubh Aarambh Home Loans will enable borrowers applying for loans up to Rs 30 lakh waiver of 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 a reduction in tenure, the bank said.
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, the bank added.
"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," Axis Bank retail banking executive director Rajiv Anand said.
Published 17 August 2017, 14:09 IST