Axis Bank MCLR Rates, Axis Bank Base Rate – Jun 2018

Axis Bank MCLR Rate

Current MCLR rate of Axis Bank ranges from 8.10% to 8.75% varying by reset frequency of the loan. Axis Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

Tenure wise MCLR Axis Bank Rate Today
Overnight 8.10%
1 Month 8.10%
3 Month 8.35%
6 Month 8.50%
1 Year 8.60%
2 Year 8.70%
3 Year 8.75%
Axis Bank Base Rate 8.95%

Base rate to be aligned to MCLR from 1st April 2018 - RBI in its monetary policy on 7th Feb 2018 has mandated that banks’ base rates be linked to MCLR rates. This will benefit Axis Bank home loan and loan against property borrowers whose loans are linked to base rate. Any increase or decrease in Axis Bank MCLR rates will now automatically be applicable to pre 2016 loans that are benchmarked to base rate. In its new monetary policy on 5th April 2018, RBI has kept repo rate unchanged at 6%.

Axis Bank Interest Rates

Axis Bank Interest Rates
Home Loan Interest Rates 8.50% * Floating Detail
Loan Against Property Rates 11.00% * Floating Detail
Personal Loan Interest Rates 11.25% to 24.00% Detail
Car Loan Interest Rates 9.25% to 11.50% Detail
Gold Loan Interest Rates 10.49% to 15.50% Detail
Fixed Deposit Interest Rates 3.50% to 7.10% Detail
Saving Account Interest Rates 3.50% to 4.00% Detail
RD Interest Rates 6.25% to 7.10% Detail

MCLR of Axis Bank

Axis Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Axis Bank as announced on 18 Jun 2018 are:

  • Overnight MCLR Rate is 8.10%. The rate was last revised on 18 Jun 2018 to 8.10% from 8.00%
  • 1 Month MCLR Rate is 8.10%. The rate was last revised on 18 Jun 2018 to 8.10% from 8.00%
  • 3 Month MCLR Rate is 8.35%. The rate was last revised on 18 Jun 2018 to 8.35% from 8.25%
  • 6 Month MCLR Rate is 8.50%. The rate was last revised on 18 Jun 2018 to 8.50% from 8.40%
  • 1 Year MCLR Rate is 8.60%. The rate was last revised on 18 Jun 2018 to 8.60% from 8.50%
  • 2 Year MCLR Rate is 8.70%. The rate was last revised on 18 Jun 2018 to 8.70% from 8.60%
  • 3 Year MCLR Rate is 8.75%. The rate was last revised on 18 Jun 2018 to 8.75% from 8.65%

Axis Bank MCLR Rate Trend

Date Axis Bank MCLR
18th Jun 18
Overnight : 8.10%
1 Month : 8.10%
3 Month : 8.35%
6 Month : 8.50%
1 Year : 8.60%
2 Year : 8.70%
3 Year : 8.75%
18th May 18
Overnight : 8.00%
1 Month : 8.00%
3 Month : 8.25%
6 Month : 8.40%
1 Year : 8.50%
2 Year : 8.60%
3 Year : 8.65%
18th Apr 18
Overnight : 7.85%
1 Month : 7.85%
3 Month : 8.15%
6 Month : 8.30%
1 Year : 8.40%
2 Year : 8.45%
3 Year : 8.50%
17th Mar 18
Overnight : 7.85%
1 Month : 7.85%
3 Month : 8.15%
6 Month : 8.30%
1 Year : 8.40%
2 Year : 8.45%
3 Year : 8.50%
17th Feb 18
Overnight : 7.85%
1 Month : 7.85%
3 Month : 8.15%
6 Month : 8.30%
1 Year : 8.40%
2 Year : 8.45%
3 Year : 8.50%
18th Jan 18
Overnight : 7.85%
1 Month : 7.85%
3 Month : 8.05%
6 Month : 8.20%
1 Year : 8.30%
2 Year : 8.35%
3 Year : 8.40%
18th Dec 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Nov 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Oct 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Sep 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Aug 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Jul 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
17th Jun 17
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.00%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th May 17
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Apr 17
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Mar 17
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Feb 17
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
18th Jan 17
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.15%
1 Year : 8.25%
2 Year : 8.30%
3 Year : 8.35%
17th Dec 16
Overnight : 8.55%
1 Month : 8.55%
3 Month : 8.75%
6 Month : 8.85%
1 Year : 8.90%
2 Year : 8.95%
3 Year : 9.00%
18th Nov 16
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%
18th Oct 16
Overnight : 8.80%
1 Month : 8.85%
3 Month : 9.05%
6 Month : 9.15%
1 Year : 9.25%
2 Year : 9.30%
3 Year : 9.35%
17th Sep 16
Overnight : 8.85%
1 Month : 8.90%
3 Month : 9.10%
6 Month : 9.20%
1 Year : 9.25%
2 Year : 9.35%
3 Year : 9.40%
18th Aug 16
Overnight : 8.85%
1 Month : 8.90%
3 Month : 9.10%
6 Month : 9.20%
1 Year : 9.25%
2 Year : 9.35%
3 Year : 9.40%
18th Jul 16
Overnight : 8.90%
1 Month : 8.95%
3 Month : 9.15%
6 Month : 9.25%
1 Year : 9.30%
2 Year : 9.40%
3 Year : 9.45%
18th Jun 16
Overnight : 8.95%
1 Month : 9.05%
3 Month : 9.25%
6 Month : 9.30%
1 Year : 9.35%
2 Year : 9.45%
3 Year : 9.50%
13th Apr 16
Overnight : 8.95%
1 Month : 9.05%
3 Month : 9.25%
6 Month : 9.30%
1 Year : 9.35%
2 Year : 9.45%
3 Year : 9.50%
  • Effective 1st April 2016, Axis Bank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. Axis Bank MCLR rates for different tenors range from 8.10% to 8.75%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, Axis Bank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, Axis Bank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, Axis Bank may decide to cut its 6 Month MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of Axis Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Axis Bank.
  • MCLR rate can be revised by Axis Bank every month. However, 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 keeping them unchanged.

Axis Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by Axis Bank is benchmarked to its MCLR Rate for a particular tenure, say 1 month or 3 month or 6 months.
  • Shorter duration loans such as cash credit, OD facility, personal loans are linked to short tenure 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. Axis Bank home loan rate is benchmarked to 6 Month MCLR Base Rate which will be repriced after 6 Month. Say, you take a loan from Axis Bank at current 6 Month MCLR rate of 8.50% plus spread of 20 bps. So, the loan will initially be priced at 8.7%. Its next re-pricing will be done after 6 Month from now. If the 3 Month MCLR rate after 6 Month increases by 10 bps, the loan will be priced at 8.8% for the next period.

Compare MCLR Rate Movement



    Compare Axis Bank MLCR Rates with Other Banks

    About Axis Bank

    • Axis Bank's registered office is located at Axis Bank Limited, Trishul, 3rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad- 380006.
    • Axis Bank's management is led by its CEO Ms. Shikha Sharma.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    Axis Bank News - Jun 2018
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