Axis Bank Base Rate, Axis Bank MCLR Base Rate Past Trend

Current Axis Bank MCLR Base Rate

Last Updated 28th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 8.65%
1 Month 8.70%
3 Month 8.90%
6 Month 9.00%
1 Year 9.05%
2 Year 9.10%
3 Year 9.15%
Current MCLR base rate of Axis Bank ranges from 8.65% to 9.15% 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 9.10% * Floating Detail
Loan Against Property Rates 11.40% * 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 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 8.65% to 9.15% 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
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.
  • Highest fixed deposit interest offered by Axis Bank is 7.00% per annum on deposits.
  • Its current Base Rate is 9.35%, which was last revised on 27th Jul 16.
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News - Dec 2016
30th Nov 16 Axis Bank fixed deposit rates cut up to 45 basis points
Axis Bank has reduced its bulk fixed deposit (Rs. 1 crore to Rs. 5 crore) rate with tenure of one to two years by 45 basis points to 6.25 percent. The revised fixed deposit rate for deposits with tenure of up to 10 years is now 6 percent. New rates are effective from 29th November, 2016.
22nd Nov 16 Axis Bank fixed deposit rate cut up to 50 basis points
Axis Bank has reduced its fixed deposits rates for one to three years tenure by 25 to 50 basis points. One year fixed deposit rate is reduced to 7 percent. The revised fixed deposit rates of Axis Bank for two and three years are now 6.75 percent. New rates are effective from 21st November, 2016.
17th Nov 16 Axis Bank MCLR cut 15 to 20 bps
Axis Bank has reduced its one year marginal cost fund based lending rate (MCLR) by 15 basis points to 9.05 percent and two year MCLR by 20 basis points to 9.10 percent. The minimum overnight and six months lending rates are reduced to 8.65 percent and 9 percent respectively. The new rates will be effective from 18th November, 2016.
16th Nov 16 Axis Bank to launch chat bots for its mobile banking application and Facebook messenger
Axis Bank has partnered with a Singapore based fintech platform to launch chat bots for its mobile banking customers in the form of a conversational interface. The new service will use artificial intelligence that will help the bank to provide personal and contextual interaction solutions to mobile banking users. Consumers can use the service through web, mobile, social and messaging channels.
09th Nov 16 Axis Bank launches Premier offer for personal loans
Axis Bank has launched a personal loan offer for the top executives of high category companies. Employees earning more than Rs.50,000 per month can avail personal loan at the rate of 13.50 percent with 1.50 percent processing fees. The offer is valid for logins from 3rd November, 2016 to 23rd December, 2016 and disbursal on or before 31st December, 2016.
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