In a clear indication of an increasing interest rate scenario, India’s biggest private sector bank, AXIS Bank said it has increased its car loan rates by up to 0.5% and removed its special home loan scheme offering loans at 8.25%.
An AXIS Bank spokesperson said, “Auto loans rack rates have been raised by 0.25-0.5 per cent depending on segment and tenor with effect from March 5″. While the bank officials did not give any reason for this move, industry sources say that the rate hike was mainly prompted by signs indicated by the RBI in its previous monetary review policy.
In order to flush out extra liquidity from the system, the apex bank increased the cash reserve ratio (CRR) by 0.75% to 5.75%. With this step, RBI has removed Rs 36,00-crore from the system. After this rate hike, auto loans will now have an interest rate of 9.75-11%.
AXIS Bank also removed its special home-loan scheme, in which it gave home-loans for 8.25% at fixed rate for 2 years, operative from March 1, the spokesperson said further.
Currently, AXIS Bank is giving home loans at 8.75% for amounts up to Rs. 30 lakhs. For sums between Rs 30-lakh to Rs 50-lakh, the rate is 9% and those exceeding Rs 50-lakh, at 9.50 %.
Friday, March 26, 2010
Tuesday, March 23, 2010
Axis Bank Offering Personal Loans Upto 50 Lakhs
Till yesterday axis bank had given personal loans to its customers upto 10 lakhs only but today axis bank have decided to give personal loans upto 50 lakhs to its customers without any security.
To get the 50 lakhs personal loan from axis bank the applicant must be aged a min of 21 years and need to earn atleast 3 lakhs per annum.
You can apply axis bank personal loans by going to the nearest axis bank branch office or can also apply the loan at axis bank website(www.axisbank.com).
To get the 50 lakhs personal loan from axis bank the applicant must be aged a min of 21 years and need to earn atleast 3 lakhs per annum.
You can apply axis bank personal loans by going to the nearest axis bank branch office or can also apply the loan at axis bank website(www.axisbank.com).
Friday, March 12, 2010
AXIS Bank loans to become much cheaper
AXIS Bank has reduced its interest rate for home loans, personal loan and car loans of Rs 20-lakh and below to 11.5 per cent.
An AXIS Bank employee have said they have revised their interest rate by 1.5 per cent from 13 per cent to 11.5 per cent.
This is a good news for the people who have taken loans from AXIS bank. We can say that the axis bank loans have became much cheaper than ever.
An AXIS Bank employee have said they have revised their interest rate by 1.5 per cent from 13 per cent to 11.5 per cent.
This is a good news for the people who have taken loans from AXIS bank. We can say that the axis bank loans have became much cheaper than ever.
Saturday, March 6, 2010
Axis Bank Personal Loan Features
Axis Bank personal loans are loaded with attractive features and benfits. Below are few features which are included in Axis Bank persoanl loans.
- Online application for loans are entertained.
- Decision regarding loan approval is reached in 15 minutes
- The process is simple, affordable and fast
- It is a type of unsecured loan
- No collateral is needed
- No annual fee or application fee charged
- Consolidate debt can be taken
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