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Axis Bank Home Loan Interest Rate

Axis Bank Home Loan interest rate are easy, cheap and very competitive as compared to that of the other home loan lenders be it the private or public sector banks or any other financial institution lending housing finance. In order to attract home loan seekers each and every privatized or government banking and financial institution are offering home loans at enticing rates of interest depending upon the customers' needs and individual profile.

Constructing a home or to realize the most cherished dream of owning a house is probably a pretty important task for each and every individual. But, this whole process of building a house involves a lot of hardships and proves to be a daunting affair for most of the individuals. Getting yourself a lucrative and best possible home loan deal makes half the task done, as one is required to take into account a lot of financial issues before deciding upon a good and suitable home loan deal. One of these financial issues involve the element of interest rate to be selected as its the foremost thing one has to take into consideration to repay the home loan. Considering the ruinous competition in India's home loan sector all the commercial banks and financial organizations are striving with each other to pull in the home loan seekers thereby increasing their customer base.

Axis Bank Home Loan Rates 2009



Axis bank home loan rates vary every year depending on the financial condition of the market and the bank's working condition. It is always better to contact the bank officials directly before availing a housing loan. The bank would provide you with exact and current rates applicable on home loans. Given below are the two types of interest rates offered by the bank on housing loans availed by its customers.

Axis Bank Home Loan Fixed Rate of Interest



The interest rate charged under the fixed rate remains consistent and unchanged throughout the tenure of the loan. It is generally advised to the home loan borrowers that they should opt for this particular type of interest rate scheme only in case they feel that rate of interest on home loans has hit absolute bottom and the interest rates will only move upwardly. Currently for the year 2009 Axis Bank charges 14.0% of interest on its fixed interest rate scheme regardless of the home loan amount borrowed.

Axis Bank Home Loan Floating Interest Rate



The interest charged under this scheme keeps on fluctuating/floating according to the movements in the market over the period of the home loan. The rate is charged at the current or the existing interest rate in the market. The interest amount keeps changing systematically with the course of time. Its recommended that one must go in for the floating interest rate scheme if he/she feels that the rate of interest has reached to its peak and will only fall from here. Axis Bank charges an interest of 8.75% on a home loan amount of up to Rs 30 Lakhs and the interest on an amount of home loan over Rs 75 Lakhs is charged at a rate of 9.25% for the current year of 2009.



Important

Permission to switch over home loan interest rate scheme from floating interest rate scheme to fixed rate and the other way round - Axis Bank permits the home loan borrower to convert his/her home loan interest rate from floating rate of interest to fixed rate of interest or vice versa depending upon his/her individual requirements and needs. The bank also allows the fixed rate home loan borrower to reschedule his home loan interest rate to a reduced rate of interest.

In order to apply for Axis Bank home loans and find out about the present interest rates you can click on the link given http://www.axisbank.com/


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