Axis Bank has signed an MoU with the Army Insurance Group (AGI) to offer retail mortgage loans to the Indian Army. The bank will offer best-in-class products and services to the Defence personnel to cater to their home loan requirements, it said in a statement.
Through this tie up, the bank will exclusively offer higher loan amounts as well as facility to transfer the balance of their loans from AGI to Axis Bank. As all Army personnel are entitled to draw pension, the borrower can also extend its repayment period beyond their retirement thus enabling them to borrow higher loan, the bank said.
