INSUBCONTINENT EXCLUSIVE:
Axis Bank has fixed its bank rate at 8.95 per cent.
Axis Bank on Monday became the latest lender to revise the marginal cost of funds-based lending rate or MCLR, the key rate below
So now, the overnight MCLR of Axis Bank stands revised to 8.10 per cent while for a period of three years, Axis Bank will charge an MCLR of
Separately, the bank rate or the minimum interest rate which Axis Bank will charge from its customers, has now been fixed at 8.95 per cent
This is with effect from April 4, 2018."As per RBI guidelines, all floating rate rupee loans sanctioned and credit limits renewed w.e.f
April 1, 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR)
The Bank reviews and publishes the internal benchmark MCLRs on a monthly basis," Axis Bank said on its website, axisbank.com.Following are
the latest marginal cost of funds based lending rates of Axis Bank: TenorMCLROvernight8.10%One month8.10%Three month8.35%Six month8.50%One
of India (RBI) hiked the repo rate or the rate at which it grants loans to commercial banks to 6.25 per cent
of Baroda, Indian Bank and Karur Vysya hiked their MCLRs
