Will my tenure change or there is a change in the EMI if there is change in ROI?

Tenure change is the default option. From customer ease point of view, we understand that Tenure change remains the preferred method, but wherever required we might change EMI, we will intimate you on the necessary change in your EMI.


In case of change of EMI, what is my revised EMI amount?

Bank shall intimate such changes in EMI as and when there is a change. Please note that the new loan EMI would be dependent on the number of years that are remaining for your loan and your rate of interest. Please contact your Retail Asset Center for more information on the exact EMI.


I am not ok with tenure change would like my EMI changed. Are there any extra charges?

No, there are no extra charges on this. Please contact our Retail Asset Centre for more information on the process involved.


What are my other options?

You may consider part payment, at no additional cost or charges , on the principal portion of your loan outstanding in addition to change in EMI. Charges as applicable will be applied


I am ok with tenure change but not EMI change. This impacts my cash flows.

Please note that wherever permissible norms apply, we have gone ahead with tenure change. For all other cases, EMI changes become necessary.

Kindly advice the best option for ECS or PDC or SI?

The choice is completely yours. However, from customer ease perspective, most of our customers today opt for Direct Debit instructions such as Standing Instructions Electronic Clearing Services. Please note that there is nominal charge in case you wish to change to either of the repayment mode. Please visit your retail asset centre to assist you on the same.

How to I submit my fresh PDC's when they have exhaust?

You can deposit 36 fresh Post Dated Cheques (PDC's) or you could also submit completed ECS / SI instructions for the EMI by visiting your retail asset centre.

Can I start paying my EMI in case my loan is partly disbursed?

Yes, you can always go ahead with this option, in which your complete EMI charge to you will be of total sanction loan. In which the Interest portion will be charged on the partly disbursed amount to you & Rest will be Principal portion.

What is Pre-EMI interest?

Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI

How does the floating rate change?

The Home loan floating rate of interest is linked to Axis Bank's Base Rate (BR) for loans sanctioned from 1st July, 2010 and to the Mortgage Reference Rate (MRR) of Axis Bank for loans sanctioned prior to this. The BR / MRR is a benchmark rate fixed by the Competent Authority, after taking into consideration various components like cost of funds, interest rates prevailing in the market, cost of operations and provisioning requirements etc. among others. The BR of the Bank as on this date is 10% and the MRR is 14.75%. The same is subject to change from time to time.

Can I Convert my floating rate loan to fixed rate loan or vice versa?

Switching from the Floating rate scheme to the Fixed rate scheme and vice versa is permissible. If a fixed rate customer wants to reschedule the loan to a lower interest rate, the same is also permissible. Charges for changing from fixed to floating rates of interest : Min. Rs. 5000 or 1% of the outstanding amount whichever is higher.

When will I get my provisional/final Interest certificate?

You may download the provisional certificate from our website under Home Loan section . Alternatively, you may apply for the same by submitting your application to your nearest RAC/Branch .The Final Interest certificate shall be mailed to your last known address once in a year by the Bank