The Super Saver Home Loan from Axis Bank is an ideal choice for a borrower looking to take a home loan as it offers a unique and affordable solution where you can save on the total interest towards the loan. Under this scheme, borrowers can save surplus funds to be used later by saving on interest.
When you register or apply for the Super Saver home loan, Axis Bank provides the borrower with an ATM card, cheque book, access to phone banking as well as internet banking.
For loan amounts over Rs.1 crore, the following interest rates are charged:
The following documents are required to be submitted when applying for the Super Saver Home Loan:
For salaried applicants: Most recent 3 months’ payslip displaying all deductions, the latest Form 16 and bank statement from the bank where salary is credited for the last 6 months.
For self-employed applicants: ITR filed for the last 2 years, balance sheet of last two yeats income, certified by a CA and bank statement from the last six monhts.
You can apply for the Super Saver Home Loan at Axis Bank in any one of the following ways:
The interest rate that you will be offered by the bank is 10.25%, which is the MCLR rate plus 0.95%.
If you have opted for the Super Saver loan, the maximum repayment tenure option that you will be given is up to 20 years.
You can take a minimum loan amount of Rs.1 crore under the Super Saver Home Loan.
You must have adequate funds in your Super Saver account so that you can pay your monthly principal and interest. The total due amount is automatically adjusted with the excess amount saved by you in your account.
If you fail to maintain sufficient balance for repayment to be deducted, you will be required to pay a penalty to the bank.