Axis Bank Balance Transfer Scheme

 

Axis Bank the upcoming Market Leader in Home Loans has launched a Special Balance Transfer Scheme w.e.f. 1st August 2011 for Existing Home Loan borrowers. The idea is to encourage existing home loan borrowers to transfer their old PLR linked loans to the new Base Rate with 0% Prepayment charges in future, Low Processing charges and Minimum Documentation.

 

Salient Features:

  • Attractive Interest Rates starting at 10.25%
  • All loans linked to the new Base Rate of 10%
  • Low Processing Fees
  • 0% Fore-closure / Pre-payment charges – Under all situations
  • Top-up Loan upto 30% of existing sanctioned loan at same Home Loan Rate
  • Foreclosure charges payable to existing lender also added to Loan amount

 

Eligibility Criterion:

  • Salaried and Self-employed customers both can apply
  • Minimum RTR of 18 months EMIs paid (not Pre-EMI)
  • Total Loan restricted to 75% of Market Value of Property
  • No Bounces in the last 6 months RTR
  • Axis Bank proposed BT+Top up EMI should not be more than 115% of the existing EMI
  • Property should be atleast 75% complete

 

Documentation:

Minimum documents required as follows for each applicant:
  1. One Photo
  2. PAN Card copy
  3. Residence Address proof
  4. Latest 1 month salary slip
  5. Latest 1 month bank statement showing salary credit
  6. Bank statement for atleast 18 months showing EMI repayments
  7. Loan A/c statement for last 12 months of existing HL
  8. Foreclosure statement of existing HL
  9. List of property documents attested by existing lender
  10. Copy of property documents (with sanction plan, if applicable)

 

To apply now, fill-up the form on your Right