A home loan will be completed one year, not to pay 12 installments, Axis Bank's scheme

MUMBAI: If you are planning to purchase a loan, this scheme can prove beneficial for you. Private sector major Axis Bank has launched a home loan scheme called "Good Start" for home loan customers. Under this scheme, customers will not have to pay 12 installments. However, the benefits of the scheme will be available only on home loans up to Rs 30 lakhs. Under the scheme, the home loan period must be for at least 20 years.

Under the scheme, the bank will pay your 4 EMIs every fourth year, and thus the loan taken for 20 years will be completed in 19 years. The loan will also be available to the home, which is currently under construction. Apart from this, the scheme can also be availed for buying a resale and plot.

Not only this, you can take advantage of this scheme even if you want to build your own home. The scheme can also be availed under the home loan taken under Prime Minister's housing scheme. Apart from this, the scheme can be availed for transfer of other bank's loans to Axis Bank.