Axis Bank proposed new fixed rate home loans

In the tug of war of interest rates schemes Axis bank largest home loan lender in across the country has introduced new fixed rate home loan scheme. According to the new proposed scheme the interest is fixed for the entire loan term. The bank will levy interest rate at 11.75%.
According to the bank senior officials it guarantees the fixed rate for tenure up to 20 years. Home loans are available for up to 85% of the said property value for loans up to Rs 20 lakh and 80% of the property value for loans above Rs 20 lakh. Whereas several other money lenders offers a mixed scheme of fixed and floating rate loans where the rate of interest has fixed for primary years.
According to the scheme Axis bank’s fixed loans, vice a versa on larger loans the difference between the fixed and floating rates loan limits from 50 basis points to 75 points.