Axis Bank Ltd.

Axis Bank, India’s third largest private sector bank, has launched a ‘Lifetime Fixed’ interest Home Loan scheme for affordable housing customers. The new product offers home buyers housing loans at a fixed rate of 10.40% p.a. for the entire duration of the loan i.e. up to 20 years. The offer is valid only for a limited period and is created specifically for the affordable housing customers with a loan size of up to Rs 50 lacs. Home loan has been a key focus area for Axis Bank and is driving its overall retail lending business, which contributes 53% to overall lending book. The loan book size of Axis Bank stands at Rs 90,277 crore, as on September 30, 2014 of which home loans constitute approximately Rs 48,000 crore.

Under this product, Axis Bank will offer home loans to both salaried as well as self-employed individuals. For salaried customers, the fixed rate of 10.40% is available on all Vanilla Home Loan offerings including Balance Transfer schemes and for the Self-Employed, the loan is available at interest rates starting from 10.65% for similar variants.

Axis Bank has 2,505 domestic branches & extension counters and 13,146 ATMs across the country, as on September 30, 2014, the network of Axis Bank spreads across 1,686 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services.