24x7 Home Loan Top Up
Having taken up a loan, you sometimes require another helping hand to fulfil your plans for a need that has cropped up now.
Additionally, due to factors such as inflation it may be difficult to predict the exact amount for owning your dream abode home or, you may just have to take care of home renovation amidst your loan repayment The thought of paying for these through your savings, may burn an immediate hole in your pocket, however that no longer need be the case. To help address such needs suitably Axis Bank offers the 24x7 Home Loan Top up.
For existing Home Loan customers, this Axis Bank product lets you borrow a certain amount over and above your existing home loan instantly and digitally, with minimal inputs and saves you from the hassle of paperwork.
Here’s an example to help you better understand the working:
Assuming you are an existing customer of Axis Bank with an existing Home Loan of Rs.50,00,000 at an interest rate of 6.9% for a tenure of 30 years. After 20 years, the outstanding amount to be paid off is Rs. 28,48,771. Now, if you are considering a home renovation or need funds to meet a sudden business requirement you could consider a top-up (loan) to work out these needs. 24x7 Home Loan Top up will guarantee an instant credit of funds*,in addition to benefits such as a waiver on pre-payment charges.