Axis Bank MCLR Rate, Axis Bank Base Rate – Jan 2017

Axis Bank MCLR Rate – Current Rate, Past Trend

Last Updated 16th Jan 2017
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Axis Bank MCLR, Base Rate Tenure
7.90% Overnight
7.90% 1 Month
8.05% 3 Month
8.15% 6 Month
8.25% 1 Year
8.30% 2 Year
8.35% 3 Year
Base rate - 9.25%
Current MCLR base rate of Axis Bank ranges from 7.90% to 8.35% depending on the reset frequency of the loan. Rates are revised every month.
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Axis Bank Interest Rates
Home Loan Interest Rates 8.65% * Floating Detail
Loan Against Property Rates 11.00% * Floating Detail
Personal Loan Interest Rates 13.50% * Detail
Fixed Deposit Interest Rates 3.50% to 7.00% * Detail

Past Trend Base Rate of Axis Bank

Axis Bank base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
18th Jan 17
7.90%
7.90%
8.05%
8.15%
8.25%
8.30%
8.35%
-
17th Dec 16
8.55%
8.55%
8.75%
8.85%
8.90%
8.95%
9.00%
-
18th Nov 16
8.65%
8.70%
8.90%
9.00%
9.05%
9.10%
9.15%
-
18th Oct 16
8.80%
8.85%
9.05%
9.15%
9.25%
9.30%
9.35%
-
17th Sep 16
8.85%
8.90%
9.10%
9.20%
9.25%
9.35%
9.40%
-
18th Aug 16
8.85%
8.90%
9.10%
9.20%
9.25%
9.35%
9.40%
-
18th Jul 16
8.90%
8.95%
9.15%
9.25%
9.30%
9.40%
9.45%
-
18th Jun 16
8.95%
9.05%
9.25%
9.30%
9.35%
9.45%
9.50%
-
13th Apr 16
8.95%
9.05%
9.25%
9.30%
9.35%
9.45%
9.50%
-

Axis Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Axis Bank decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Axis Bank has different MCLR base rates ranging from 7.90% to 8.35% for different tenures

Changes in MCLR Base rate of Axis Bank

  • MCLR rate can be revised by Axis Bank every month
  • Note that it is not mandatory for Axis Bank to revise its rate every month and it may choose to retain the same rate for a longer period

Axis Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Axis Bank is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from Axis Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Axis Bank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.35%. This loan will initially be priced at 9.85%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.1%, the loan will be priced at 9.6% for the next year

Past trend of Axis Bank Base Rate vs RBI Repo Rate

Date Base Rate
02nd Jan 17 9.25%
04th Oct 16: 0.25% repo cut by RBI
27th Jul 16 9.35% decreased by 0.1%
13th Apr 16 9.45% decreased by 0.05%
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.50% decreased by 0.35%
29th Sep 15: 0.5% repo cut by RBI
27th Jun 15 9.85% decreased by 0.1%
02nd Jun 15: 0.25% repo cut by RBI
08th Apr 15 9.95% decreased by 0.2%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
17th Oct 14 10.15% decreased by 0.1%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
23rd Aug 13 10.25% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
06th Aug 11 10.00% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
05th Jul 11 9.75% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
05th May 11 9.50% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
01st Apr 11 9.00% increased by 0.25%
17th Mar 11: 0.25% repo hike by RBI
19th Feb 11 8.75% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
16th Jan 11 8.25% increased by 0.25%
09th Dec 10 8.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.50%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 7.50%

Axis Bank Base Rate Vs. RBI Repo Rate Trend

About Axis Bank

  • Axis Bank is a Private Bank in India with 2,589 branches, 12,355 ATM's and 42,230 employees across the country.
  • Axis Bank's registered office is located at Axis Bank Limited, Trishul, 3rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad- 380006.
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 14,224 crs. and Standalone net profit of Rs. 7,358 crs. Axis Bank reported total deposits of Rs. 322,442 crs and total advances of Rs. 281,083 crs.
  • Axis Bank's management is led by its CEO Ms. Shikha Sharma.
  • Its current Base Rate is 9.25%, which was last revised on 02nd Jan 17.
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News - Jan 2017
20th Jan 17 Axis Bank registers a 73 percent fall in its net profit in third quarter of FY 17
Axis Bank has registered a decline of 73 percent in its net profit at Rs. 580 crore for the quarter ending on 31st December, 2016 as compared to Rs. 2, 175 crore for the corresponding period a year ago. The decline in net profit has been caused to by a sharp rise in the non performing assets of the banks rose sharply and reached Rs. 20, 466 crore during the latest quarter compared to Rs. 6, 378 crore a year ago.
19th Jan 17 Axis Bank is likely to see a decline in its net profit during the third quarter of FY 17
Analysts at CNBC have forecasted a decline in net profit of Axis Bank during the third quarter ending 31st December, 2016. As per the polls, the bank is likely to see a fall of 63 percent in its net profit to Rs. 802 crore on a year on year basis. Axis Bank is scheduled to announce its Q3 results on 19th January, 2017.
16th Jan 17 Axis Bank ties up with Droom.com to offer car loans for used cars
Axis Bank has announced a partnership deal with Droom.com (a leading new and used auto website) to provide car loans for both used and new cars. The bank will offer loan up to 85 percent of the value of vehicle with a maximum tenure of five years. As for used car loans, loan can be availed for cars which are less than five year old.
14th Jan 17 Axis Bank cuts MCLR by up to 70 basis points
Axis Bank has reduced its overnight marginal cost of lending rate to 7.90 percent as compared to 8.55 percent earlier. The revised three month and six month MCLR now stands at 8.05 and 8.15 percent respectively. The bank has also reduced its one year MCLR by 65 basis points to 8.25 percent. The rates will be effective from 18th January, 2017.
05th Jan 17 Axis Bank cuts home loan rates to 8.85 percent
Axis Bank has reduced its home loan rates upto 0.30 percent for new home loan buyers. The new home loan rates are reduced to its half yearly MCLR rate to 8.85 percent as compared to 9.10 (upto Rs. 75 lakh) and 9.15 percent (above Rs. 75 lakh) earlier. The revised rates are effective from 3rd January, 2017.
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