Axis launches home loan scheme for low income group

Private sector lender Axis Bank has launched a home loan product for households earning as low as Rs 8,000 a month, targeting disbursals of up to Rs 1,000 crore in a year's time, a senior bank official said today. However, these loans would come at a premium due to higher risk of such borrowers. Accordingly, the bank would lend at 10.75 per cent, which is higher than its normal lending rates for other customers. "At present, ...