Axis bank home loan new bid
11 Mar 2010
<p><img src="http://deal4commercial property loans.haimachan.com/files/2010/01/Axis-Bank-300×234.jpg" alt="Axis-Bank " title="Axis-Bank " />Axis bank has come up with a new fixed-cum-floating home loan offer for new home loan buyers.<br /> The scheme is known as the Power Advantage <a rel="nofollow" onClick="javascript:pageTracker._trackPageview(’/outgoing/article_exit_link’);" href="http://www.deal4commercial property loans.com/home-commercial property loans.php" title="Home Loan"><strong>Home Loan</strong></a> scheme which allows customers to lock in their <a rel="nofollow" onClick="javascript:pageTracker._trackPageview(’/outgoing/article_exit_link’);" href="http://www.deal4commercial property loans.com/home-commercial property loans-interest-rates.php" title="Home Loan Rates"><strong>home loan rates</strong></a> @ 8.25% for the first two years of the tenure followed by a floating rate. Two months back, the bank had announced a scheme wherein the interest rate would be fixed at 8% for the first year followed by a floating rate.</p> <p>Whereas in the new scheme, after the first two years, the floating rate of interest would be applicable at Mortgage Reference Rate (MRR) minus 350 basis points (bps) for commercial property loans upto Rs 30 lakh and MRR minus 300 bps for commercial property loans greater than Rs 30 lakh. Mortagage reference rate is the basis for floating rates in a <em>housing loan</em>.</p> <p>The scheme is open till March 31, 2010 and the maximum tenure of the loan will be 25 years. <a rel="nofollow" onClick="javascript:pageTracker._trackPageview(’/outgoing/article_exit_link’);" href="http://www.deal4commercial property loans.com/home-loan-axis-bank.php" title="Axis Bank Home Loan"><strong>Axis Bank home loan</strong></a> scheme is similar to HDFC which last month announced a scheme whereby the rate will be fixed at 8.25 per cent till 31 March 2012 with a <em>floating rate</em> thereafter.</p> <p>Whereas in the new scheme, after the first two years, the floating rate of interest would be applicable at Mortgage Reference Rate (MRR) minus 350 basis points (bps) for commercial property loans upto Rs 30 lakh and MRR minus 300 bps for commercial property loans greater than Rs 30 lakh. Mortagage reference rate is the basis for floating rates in a <em>housing loan</em>.</p>
