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How can I pay my part payment in Axis Bank for home loan?
Yes, you can make a part-prepayment towards your Home Loan at your nearest Axis Bank Loan Center. If you are on a floating interest rate, no charge will be applicable.
How can I reduce my home loan tenure in Axis Bank?
Yes, you can switch (if offered by the bank at the time of your request) to a lower interest under this scheme by paying the applicable charges. You will have the option to reduce the EMI or tenure as per your requirement. However, the switch option is available only under the ‘floating rate’ option.
Can we pay extra EMI for Axis Bank mortgage?
Yes, you can make a part prepayment towards your Home Loan at your nearest Axis Bank Loan Center. If all borrowers are individuals and on a floating interest rate, no charge will be applicable.
Is it good to pre close home loan?
Even if you pre-pay your loan a little, it can save you a lot of interest, leading to pre-closure. For example, you have a loan balance of Rs 50 lakh with 20 years left and an interest rate of 6.8%. Your total interest on these numbers would be Rs 41.60 lakh.
How can I pay extra loan amount in Axis Bank?
Axis Internet Banking: Login >> Accounts >> Loans >> Select Loan no. >> Click on “Pay Overdue” >> Select the Account >> Enter the Amount >> Enter the NetSecure Code (will be sent to your mobile).
Is prepayment of home loan good option?
As a thumb rule, you should go for investment, instead of prepayment, only when the post-tax return from the investment is likely to be higher than the effective cost of the housing loan.
What is the benefit of prepayment of home loan?
“If you plan on prepaying your home loan, the advantages include savings on interest expenditure, reduction of principal outstanding, financial stability and effect on credit rating. Moreover, many banks do not levy charges for prepayment.
How can I part pay my axis loan?
To make a part payment towards your loan, please visit your nearest Axis Bank Loan Centre along with your cheque book and a valid photo ID.
How can I clear my home loan early?
3 Tips to Help You Close Your Home Loan Early
- Opt for home loan balance transfer. Home Loan Balance Transfer (HLBT) allows you to move your outstanding loan amount to another lender at a lower interest rate.
- Prepay your home loan whenever possible.
- Opt for home loan variants offering increasing EMIs.
Can I pay EMI in advance?
Yes, you can opt for EMI in advance even if the interest rate is a floating rate.
How can I get my repayment schedule in Axis Bank?
Mobile Banking: Log into Axis Mobile App > Click on Loans > Request Statement > Repayment Schedule. b. Phone: Give us a call on the numbers mentioned on the Call tab.
Can I pay my Axis Bank loan online?
Can I pre-pay/make a part payment towards my loan online? No. Currently, the facility for pre-payment/part-payment towards loans is available only at Axis Bank Loan centres. We request you to reach out to your nearest loan centre for these transactions.
Can I close my Axis Bank loan online?
You can foreclose your personal loan only by visiting one of the Axis Bank Loan centres as there is no online facility for pre-payment. You can locate the nearest loan centre by using the online tool provided on the website.
Can I make a part-prepayment on my Axis Bank home loan?
Yes, you can make a part-prepayment towards your Home Loan at your nearest Axis Bank Loan Center. If you are on a floating interest rate, no charge will be applicable. If you are on a fixed rate of interest, please check the charge applicable by clicking here If you are on a fixed rate of interest, please check the charge applicable .
What is the procedure for Axis Bank home loan disbursal?
If you had chosen a nationalized bank, you have to be even more careful in following each and every step. Here is the step by step procedure for your AXIS BANK home loan disbursal: 1.Collecting the Property Related Documents: Firstly, go to the builder and get all the property related legal documents.
How long does Axis Bank take to approve home loan application?
If you are deemed eligible, you will get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property. Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete.
How do I get a foreclosure statement from Axis Bank?
Before we process a foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your Home Loan by requesting a foreclosure statement from your nearest Axis Bank Loan Center.