Axis Bank Super Saver Home Loan is a programme offered by Axis Bank home loans that give you the opportunity to effectively reduce your interest costs. You just pay interest on the amount you actually use and keep the loan amount in your account with this kind of borrowing. Let me tell you more about Axis bank super saver home loan.
Check your eligibility to get a home loan via NoBroker here. Check your home loan EMI using NoBroker Home Loan EMI CalculatorWhat is a super saver home loan in Axis bank?
The Super Saver Home Loan from Axis Bank has competitive interest rates starting at 8.15% p.a. The loan can be repaid over a 22-year period (maximum). Once you register for this service, a Super Saver account will be created for you. When the loan has been disbursed, you can deposit money into this account to reduce the amount of principal still owed.
What is the Axis bank super saver home loan interest rate?
The interest rate on home loans from Axis Bank is variable. This states that the interest rate will fluctuate depending on the state of the economy and other variables. Interest rates are derived using the formula MCLR + 0.75 percent (Marginal Cost of Fund based Lending Rate). The rate is 8.15% to 8.30% per annum right now. But, since you may pay off the loan whenever you have some extra cash on hand and have your interest rate cut, the difference in rates is no longer important.
What are the benefits of a home loan super saver?
The Axis Bank Super Saver loan ranges from Rs. 50 lac to Rs. 5 crores.
Interest rates for Axis Bank Super Saver home loans begin at 8.35% annually.
The bank offers different alternatives for repayment terms to borrowers. The Axis Bank Super Saving home loan has a maximum 20-year payback time.
You can transfer your current home loan to Axis bank using the Super Saver home loan balance transfer facility.
When your current loan is costing you a lot in interest, this facility is a fantastic way to reduce those costs.
If there is enough money to finish the loan, Axis Bank can let you pay off your loan early and avoid paying interest.
The loan with a variable rate has no prepayment penalties. The bank charges 2% of the outstanding principal for loans with fixed interest rates.
This tells you about axis Bank super saver home loan.
Read More: Last 10 years home loan interest rate in India What is reducing interest rateYour Feedback Matters! How was this Answer?
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What is Axis Bank super saver home loan?
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2023-03-29T11:45:36+00:00 2023-03-29T17:55:30+00:00Comment
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