Axis Bank Ltd.

Axis Bank has launched a new home loan product that entails waiving off a few EMIs during the course of a loan. The third largest private sector lender will waive off four equated monthly installments (EMIs) each at the end of the fourth, eighth and the 12th year of a two-year loan. This means that if a borrower takes a 20-year loan, the consumer will get 12 of the EMIs waived off, which the bank claimed will help save Rs 3.09 lakh on a Rs 30-lakh loan.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.