QuikPay Home Loan Online by Axis Bank Interest Savings with Reducing Monthly Instalments
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We have products to suit every budget, taste and need. Whether you are self-employed or salaried, want a floating or fixed rate, Axis Bank will offer a loan that is just right for you. Axis Bank offers affordable and flexible housing loans that can turn your dream of owning a home into reality. When you are deciding on partly prepaying the home loan, weigh all the aspects very carefully. Ultimately the benefit should outweigh the cost of part prepayment.
The executive from the bank comes to the client’s house to complete the home loan formalities. Loan repayment can worry some borrowers and can be the least important thing on other’s minds. However, missing an EMI payment or defaulting on a loan may have long-term impacts. The negative impact gets reflected on your credit report for nearly two to three years and can hamper your chances of borrowing a loan in the future. Hence, it makes sense to repay the loan on time without any delay.
Overdue Loan Payments
The online repayment facility is available for Overdue Loan EMIs and Overdue Service Charges. The applicant can also apply for the home loan offline. They can go to the Axis Bank directly and then apply for the loan.
Axis Bank makes sure to customize the home loan as per the needs of the borrower. The entire process takes just a few minutes, and the loan amount gets credited into your bank account in hours. The Axis Bank home loan helps to fulfill your dream of having your own home. The bank offers a very attractive rate of interest for the salaried and the self-employed individuals. Loan repayment tenure can be extended to even 30 years.
Does the EMI amount remain the same throughout the loan tenure?
Balance transfer scheme also available under the Axis Bank home category. This means that if one is not satisfied with any existing home loan then they can get their home loan transferred to Axis Bank. There is no limit on the maximum amount of home loan that the borrower can avail. It is important that you first understand the eligibility criteria so that you are sure of the loan amount getting disbursed.
To avail the NRI home loan from Axis Bank, you need to be aware of the rate of interest that the bank charges on the home loan. The rate of interest is 8.90% to 9.05% with a mark-up percentage. This accompanies the marginal cost of funds-based lending rate or MCLR. Getting the Axis Bank home loan is an easy and transparent process.
Super Saver Home Loan
The remaining tenure of your home loan– Check how many months or years are remaining before your home loan tenure officially ends. The longer the residual tenure of your home loan, higher will be the total interest amount payable. In such a case, prepaying the home loan would be worthwhile and more so when interest rates in the economy are about to increase. QuikPay Home Loan is a unique financing solution that helps you repay higher principal earlier in the loan tenure.
This will ensure quick disbursal of Axis Bank home loan. The floating rate is applicable, so the rate of interest is low. The loan can be used to purchase a house under construction or which is on resale. It can also be used for the purchase of plot or renovation.
Cover arranged by Axis Bank for its customers under Digit Illness Group Insurance Policy . Currently, the facility for pre-payment/part-payment towards loans is available only at Axis Bank Loan centres. We request you to reach out to your nearest loan centre for these transactions.
But if you are earning a good income and receiving annual increments; it makes sense to save and partly prepay your home loan thereby reducing your debt burden. Ideally, your total EMIs on loan should not exceed 40-50% of your Net Take Home pay. But in the case of an unprecedented event such as job loss or a pay cut, the EMI on the home loan may turn to be a burden. If case of such a situation, pre-paying the home loan could prove to be a challenge.
The longer the loan tenure, the cheaper EMI will be. So a loan of 30 years will have a lower EMI compared to a 10-year loan. CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. You can repay your Axis Bank loan using the 'Recharge and Bill Payments' service by the Bajaj Finserv BBPS platform.
There is no upper limit on the borrowing capacity of the home loan borrower. All that the bank checks are the repayment capacity of the borrower. Convenience- no matter how many times one wants, they can use it to calculate the EMI amount of different loan tenure and amounts. This automatic tool will, without any doubt, help decide which EMI schedule suits them best. Loan tenure- the tenure is the number of years the borrower has to pay off the AXIS Bank Home Loan.
The housing loan can also be used for the construction of a house or to purchase a plot. At the end of the 4th, 8thand 12th year the client can get 4 EMIs waived off, and if the repayment track is good then12 EMIs waived on extra cost. Flexible rate of interest where the borrower can choose between fixed and floating interest rates. You can use the home loan to purchase a property, and there are also home loans that can be used to improve your home. There are loans givens to buy a plot and then construct a house on it.
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