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Loans

Reverse Mortgage Loan

Senior homeowners to receive payments from the equity in their home

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Receive benefit of loan payments 

Equity benefit against residential properties

Loan Amount

Minimum - Rs. 5,00,000
Maximum - Rs. 100,00,000

Attractive Interest Rates

Starting from 11.0%

Features and Benefits

Loan  extended to senior citizens who own a built up property in which he/she resides.
Senior borrowers can stay in their homes and continue holding ownership of the property. 
The loan can be extended as regular monthly, quarterly, half yearly or lump sum annual periodic advances.
Starting from 11.0% p.a.
Apply for your loan from the comfort of your home, with service at your doorstep.

Repayment:
Maximum repayment period is 15 years

Security:
The loan shall be secured by way of Mortgage of residential property in favor of Axis Bank.

Settlement of Loan:
  • The loan shall become due and payable only when the last surviving borrower dies, sells the home, or permanently moves out of the home.
  • Settlement of loan along with accumulated interest to be met by the proceeds received out of sale of residential property.
  • The borrowers or his/her/their heirs will have an option to settle the loan along with accumulated interest, without sale of property.

Insurance:
Customer can avail Property and Personal Accident insurance cover as per the guidelines and arrangements with the insurer/underwriter.

Other Conditions:
  • Bank reserves the right to reject any application without assigning reasons thereof. The applicant will undertake to inform the Bank as and when there is a change in address or employment. The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.

HAVE QUERIES?

  • What is the time-frame for application decisioning?

Bank will convey its decision within 15 working days from the date of receipt of the application provided the application is complete...

  • What is the margin for Education loans?

No margin for education loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies...

  • What is the role of a guardian/parent in an education loan?

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily...

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