Axis Bank Ltd.

Axis Bank, India’s third largest private sector bank, has launched -- NISHCHINT -- a lifetime fixed interest home loan scheme, which offers home buyers housing loans at a fixed rate of 11.75% per annum for the entire duration of the loan i.e. up to 20 years.

At present, the customers are facing uncertainty about EMIs on their home loans, on the back of increases in interest rate in the market. The bank will 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, the bank will offer home loans to eligible buyers up to 85% loan to value for loans up-to Rs 20 lakh and 80% loan to value for loans above Rs 20 lakh, with a pre payment charge of 2% of the outstanding amount.

Recently, the bank expanded its network of branches in Mumbai to 100 with the opening of its Pali Hill, Bandra Branch on Nargis Dutt Road. The bank now has a network of 1,435 outlets, including branches and extension counters.

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