Hi All, Today i got one interesting call from AXSI Finance.
Caller was from Axis bank and saying that Sir, We have launched a new plan that is only for today 31.12.2014 Personal loan (any loan) at 0% interest rate. Here is the explanation told to me by executive. P Sir, Suppose if you take 3 lakh personal loan. Tenure will be 10 yrs and your yearly EMI would be 30 thousand but you have to pay first EMI i.e. 30 thousand in advance and with this money we will open a insurance policy for you and in next 21 days we will disburse your loan amount i.e. 3 lakh in you account.
Now every year EMI you are paying (30 thousand per annum for 10 yrs) so after completion of 10 yr, they will get maturity amount & but i dont get any thing. This way they will make profit out of it thus you don’t need to pay any interest. I am still doubtful about this.
I even called to Axis Bank & Axis Finance. they said they don’t have such plans. After 1hr again i received call for confirming whether i am interested in loan. I asked him from which bank they are, he said AXIS Bank , dept – Finance. i asked which Branch, he is just confused with my question. He said they have office in Gurgaon & chennai, i asked to provide office address & land line no. but is he nervous & don’t know what to reply.
Pl share your inputs so that we could get the actual picture and if anyone really looking for loan will take necessary precaution before going ahead.