Home loan interest is the additional amount you pay on top of the borrowed mortgage principal, representing the cost of borrowing money to purchase a house or property. Axis Bank’s Asha home loans allow a person to borrow money at a comparatively lower interest rate. I visited the bank to avail of a loan and clarified the Axis Bank Asha home loan interest rate. They are different for salaried and employed individuals, though. If you are interested in knowing more about the Axis Bank Asha home loan rate of interest, you can read my comment.
What is the Asha Home Loan interest rate?
The Asha Home Loan Axis Bank interest rate is as follows:
For salaried individuals, the interest rate will be:
| Aspect | Repo rate + Spread | Effective Rate of Interest |
Floating Rate |
Repo Rate + 2.50% to Repo Rate + 2.90% |
9.00% - 9.40% p.a. |
Fixed Rate |
All Loan Amounts |
14% p.a. |
For Self Employed Individuals, the interest rate will be:
| Aspect | Repo rate+ Spread | Effective Rate of Interest |
Floating Rate |
Repo Rate + 2.60% to Repo Rate + 2.90% |
9.10% - 9.40% p.a. |
Fixed Rate |
All Loan Amounts |
14% p.a. |
For further details, you can visit their official website:
https://www.axisbank.com/retail/loans/home-loan/asha-home-loan/interest-rates-charges
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What is the Rate of Interest in Axis Bank Asha Home Loan?
Sridhar
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2 Year
2023-08-31T15:45:51+00:00 2023-08-31T16:01:56+00:00Comment
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