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Axis Bank cuts MCLRs by 15 bps

16 Nov 2016 Evaluate

Axis Bank has reduced its marginal cost of funds based lending rate (MCLR) by 15 basis points across all tenors upto 1 year and 20 bps for 2 year and 3 year tenor with effect from November 18, 2016. With this, one year MCLR of the Bank now stands at 9.05% p.a.

The overnight, 1 month, 3 month and 6 month MCLR are revised to 8.65% p.a, 8.70% p.a, 8.90% p.a and 9.00% p.a respectively. Moreover, 2 years and 3 years MCLR has also been revised to 9.10% p.a and 9.15% p.a.

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

Peers
Company Name CMP
HDFC Bank 728.10
ICICI Bank 1396.80
Axis Bank 1286.45
Kotak Mahindra Bank 446.00
Indusind Bank 874.00
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