Axis Bank's home loans at 8.25 pc for 2 years

Mumbai, Jan 6: Axis Bank has introduced a special housing loan scheme at 8.25 per cent fixed rate for first two years irrespective of the amount.

The plan, which comes two months after the private sector lender unveiled its 8 per cent home loan offer, is open till Mar 31, 2010.

After Mar 2010, a floating rate will be applicable to based on the mortgage reference rate, the bank said in a press release.

For loans up to Rs 30 lakhs, rates will be MRR minus 3.5 per cent.

For loans above Rs 30-lakh, the rates will be MRR minus 3 per cent.

"The bank decided to launch the scheme--Power Advantage Home Loan--based on extensive interactions with our customers and market feedback," Axis Bank's president-Retail Banking, Manju Srivatsa said.

"We feel that this is the right time to launch the Power Advantage Home Loan scheme. This expands our home loan portfolio, enhances our product offerings and reiterates our commitment to help home buyers in their desire to have a home of their own," Srivatsa added.

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