Axis Bank Ltd.

Axis Bank has unveiled ‘Asha Home Loan’, a 30 year home loan product for first time home buyers in the lower income segment based on the family income. This new product will be available in both floating and fixed rate options to both salaried and self-employed resident Indians. The bank is offering loans under this new product as small as Rs 1 lakh and upto Rs 15 lakh in small towns (population less than 10 lakh) and up to Rs 25 lakh in larger towns (population greater than 10 lakh)

Axis Bank has reported 19.06% rise in its net profit at Rs 1604.11 crore for third quarter ended December 31, 2013 as compared to Rs 1347.22 crore for the same quarter in the previous year. Total income of the bank has increased by 9.94% at Rs 9433.55 crore for quarter under review as compared to Rs 8580.30 crore for the quarter ended December 31, 2012.