Axis Bank provides Overdraft Facility against Property to help you unlock the potential of your property. You can avail loan starting from Rs. 5 Lakhs up to Rs. 5 Crores, at attractive interest rate on Overdraft Facility against Property. With an Overdraft Facility against Property, you only have to pay interest on the utilized limit used. The interest rates on overdraft facility against property are listed below.
|Type of Loan
||Applicable Pricing For PSL cases
||Applicable pricing for Non-PSL cases
|LAP (Income Based , GTP,GPR)
||MCLR + 2.60%= 11.25% p.a.
||MCLR + 2.85% = 11.50% p.a.
|LAP (Surrogates - Banking, Repayment Based)
||MCLR + 2.85%= 11.50% p.a.
||MCLR + 3.10% = 11.75% p.a.
|LAP Overdraft Against Property Loans-Residential & Commercial
||MCLR + 3.60% = 12.25% p.a.
||MCLR + 3.70% = 12.35% p.a.
Marginal Cost Based Lending Rate - 8.65%
MCLR Reset frequency for Loan against property - Half Yearly
Base Rate - 9.40%
MRR - 13.70%
BPLR - 16.95%
Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.