by NR INDRAN / INT

Mumbai : Axis Bank, India’s third largest private sector bank, today announced the launch of ‘NISHCHINT’ a lifetime ‘Fixed Interest Home Loan Scheme’ which offers home buyers housing loans at a fixed rate of 11.75% p.a. for the entire duration of the loan i.e. up to 20 years.

 Speaking on the occasion Mr. R. K. Bammi, ED – Retail Banking, Axis Bank said, “Customers today are facing uncertainty about EMIs on their home loans, due to interest rate increases in the market. At Axis Bank, we want to offer the customer certainty about the EMI they need to pay for the entire life of the loan. ‘NISHCHINT’ offers that option to the customer at a very attractive rate.”

 Under ‘NISHCHINT’, Axis Bank will offer home loans to eligible buyers up to 85% Loan to Value for loans up-to 20 lakhs and 80% Loan to Value for loans above Rs 20 lakhs, with a pre payment charge of 2% of the outstanding amount.

 Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
With over 1400 branches (including extension counters) and more than 6,800 ATMs across the country, as on 30th June 2011, the network of Axis Bank spreads across 932 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in Singapore, Hong Kong, Shanghai, Dubai and Abu Dhabi.

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