Axis bank home loan prepayment online dating
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Therefore, if you make a pre-payment and the loan tenure falls to less than 10 years (120 months) from the date of first disbursement, you will not be eligible for waiver of EMI benefit.For the second waiver after 180 months, your loan should be running at the time of waiver for you to avail benefit. You can get a loan waiver only when you have a loan. Only up to 3 instances of dues pending for up to 30 days.
Changes in EMI due to interest rate fluctuations do not affect your eligibility for this benefit.It is also possible that due to wild fluctuations in interest rates, your home loan tenure may fall below 120 months or 180 months.In such cases too, you will be disqualified from availing EMI waiver.As per the bank website, there are no charges for loan foreclosure or part prepayment. Additionally, as per RBI circular dated July 22, 2014, for the purpose of calculation of LTV, the credit institution must consider accrued interest too.Therefore, it is quite possible that loan eligibility may also be lower under the second method.You need to visit the Axis Bank Branch with your gold/jewellery and the requisite documents.
I am not sure if the gold loan facility will be available at all the branches in India. In addition, the gold loans are short term and have an upper cap of Loan-to-value ratio of 75%.
Next 6 EMIs are waived off once you have completed 15 years (180 months) in the loan. i.e., your total loan tenure will go down to 19.5 years (remaining tenure 9.5 years).
The benefit is offered through waiver of principal amount equivalent of 6 EMIs twice. i.e., 120 months from the date of first disbursement.
No dues over 90 days during the entire loan tenure.
You can’t increase loan EMI due to increase in salary or any other reason.
If the gold is of lesser purity, the gold shall be valued proportionately.