I’ve recently opted for a home loan from Axis Bank. Hence, I can assist you with some helpful suggestions regarding, how to reduce home loan interest rate in Axis bank. Axis Bank offers eligible customers housing loan options with interest rates starting at 6.90% p.a. on floating rate loans, and 12% p.a. on fixed rate loans
Get the best interest rates on Axis Bank Home Loans at NoBroker Check your home eligibility and get a home loan quickly from NoBrokerHow to reduce Axis bank home loan interest rate?
- Change from a fixed to a floating interest rate:
Axis Bank reduces home loan rates when you change the interest rates from fixed to floating. Fixed interest rates are often more expensive than floating interest rates.
- Maintain a good credit score:
Your credit score plays a crucial role in determining your home loan interest rate. A higher credit score generally translates to a lower interest rate. Make sure you pay your bills on time, keep your credit utilisation low, and avoid defaults or late payments to maintain a healthy credit score.
- Transfer loan to a new lender:
You have the option of moving your loan to a lender who is ready to offer you a favourable interest rate. It only needs a little bit of research and effort. The process of moving a mortgage from one bank or financial institution to another is comparable to applying for a new loan.
Go over the loan's details, including the interest rate, processing costs, additional T&C, etc., and compare them to what you pay now. One thing to bear in mind when thinking about switching lenders is that you shouldn't do so if you intend to sell your home soon.
I hope this answer clarifies the query, of how to reduce home loan interest rate in Axis Bank. With the right approach, you can potentially save thousands of rupees on your home loan.
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How to Reduce Home Loan Interest Rate in Axis Bank?
pratik
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1 Year
2023-04-17T17:09:01+00:00 2023-04-17T17:17:56+00:00Comment
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