Saturday, February 9, 2013

Shifted to Axis Bank Power Home Loan

Finally after much deliberations I have actually shifted my loan to Axis Bank. 
The terms of the loan are as below: 

1. Interest rate: 10.25% (Base Rate 10.00 + Spread 0.25)
2. Processing fee: Rs. 5620/-
3. Mortgage charges: ~Rs. 3900/-
4. Other charges: ~Rs. 1700/-
5. Loan tenure: 8 years

It feels good to be out of a discriminatory system (BPLR) and to have moved to the Base Rate. 

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