India’s third largest
private sector bank Axis Bank, has launched Empower
Home Loan, for self-employed individuals (professionals &
non-professionals) under ‘floating rate’ option,.
Under this
scheme, customers can get a loan of up to Rs. 1 crore. Those with a good
repayment track record are assured of 3 rate reductions at the end of the
second, third and fifth year.
Customers
can avail a loan of upto Rs. 1 Cr in Tier I & Tier II cities, upto Rs. 50
lakh in other cities and villages
Mr. Jairam Sridharan,
head-consumer lending and payments, Axis Bank said, “Self-employed
people are the backbone of the India growth story. However, credit availability
to this group tends to be limited. With ‘empower home loans’, Axis Bank would
like to partner in the progress of this group of customers and reward them for
good credit behavior”
The minimum loan
amount availed under this scheme is Rs. 10 lakhs with maximum tenure of 15
years, subject to age of borrower not exceeding 65 years at loan maturity.
Customer can avail
empower home loan for purchasing an under-construction / ready / resale house,
plot plus construction and home extension / improvement loans.
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