AXIS BANK KICKS OFF TEASER LOAN EXIT

The increase in the CRR has started taking its toll on interest rates, with Axis Bank withdrawing its teaser home loan scheme two months before schedule. Earlier, Axis Bank had launched a fixed-cum-floating rate home loan scheme on January 6. It offers 8.25 per cent interest rate for the first two years. Thereafter, the loan is priced 3.5 per cent and 3 per cent less than the mortgage reference rate for loans up to and above Rs 30 lakh, respectively. Axis was one of the last banks to offer such a scheme. Last year, a number of banks, led by the country’s largest, State Bank of India, launched these products.


Source: http://www.business-standard.com/india/news/axis-bank-kicks-off-teaser-loan-exit/384774/