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Axis Bank MCLR Rate
Current Axis Bank MCLR rates range from 9.10% - 9.45% for different tenures w.e.f 18.03.2024. The MCLR is the minimum interest rate the bank can charge for loans. This rate is reset every month by the bank.
MCLR Rate by Top Banks
The Marginal Cost of the Fund-Based Lending Rate (MCLR) is the minimum rate of interest a bank/financial institution can charge on a loan. MCLR determines the lower limit of the loan interest rate.
Following are the current Axis Bank MCLR Rate and MCLR rates of top banks in India:
| Bank Name | Overnight | 1 Month | 3 Months | 6 Months | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| Axis Bank | 9.10% | 9.10% | 9.20% | 9.25% | 9.30% | 9.40% | 9.45% |
| Yes Bank | 9.30% | 9.55% | 10.10% | 10.35% | 10.50% | NA | NA |
| HDFC Bank | 8.95% | 8.95% | 9.10% | 9.30% | 9.30% | 9.35% | 9.35% |
| ICICI Bank | 8.60% | 8.60% | 8.65% | 9.00% | 9.10% | NA | NA |
| SBI | 8.00% | 8.20% | 8.20% | 8.55% | 8.65% | 8.75% | 8.85% |
| PNB | 8.30% | 8.35% | 8.45% | 8.65% | 8.80% | NA | 9.10% |
| PSB | 8.00% | 8.30% | 8.45% | 8.75% | 8.95% | NA | NA |
| Citibank | 7.05% | 7.10% | 7.25% | 7.30% | 7.20% | NA | NA |
| Bank of Baroda | 8.05% | 8.30% | 8.40% | 8.60% | 8.80% | NA | NA |
| IndusInd Bank | 10.00% | 10.05% | 10.20% | 10.35% | 10.40% | 10.40% | 10.40% |
| IDFC FIRST Bank | 9.60% | 9.60% | 9.85% | 10.20% | 10.35% | NA | NA |
| Bank of India | 8.10% | 8.35% | 8.45% | 8.65% | 8.85% | NA | 9.05% |
| Central Bank of India | 8.00% | 8.05% | 8.40% | 8.60% | 8.75% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.35% | 8.50% | 8.80% | 9.00% | 9.05% | 9.60% | 10.00% |
| Indian Overseas Bank | 8.00% | 8.20% | 8.40% | 8.65% | 8.80% | 8.80% | 8.85% |
| UCO Bank | 8.00% | 8.25% | 8.40% | 8.65% | 8.80% | NA | NA |
| Canara Bank | 7.90% | 8.00% | 8.15% | 8.45% | 8.80% | NA | NA |
| Kotak Bank | 8.65% | 8.90% | 9.05% | 9.30% | 9.45% | 9.50% | 9.60% |
| HSBC Bank | 8.55% | 8.70% | 8.85% | 8.95% | 9.00% | NA | NA |
You can also Apply for Axis Bank Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.
Table of Contents: Axis Bank MCLR Rate [Hide]
Current Axis Bank MCLR Rate 2024
Axis MCLR rate ranges from 9.10% - 9.45% for different tenures with effect from 18th March 2024. These rates will be valid till the next review by the bank. Axis Bank is one the best private sector banks in India that offers a wide range of lending and banking products and services. Like all other banks in India, Axis Bank too has revised its MCLR, which makes lending products cheaper for its customers. Axis Bank MCLR is the minimum interest rate that the bank can charge for a specific loan product. MCLR is set for borrowers unless specified by the bank or otherwise by the Reserve Bank of India (RBI).
Axis Bank revises its MCLR monthly. Below are the current Axis Bank MCLR rates:
- Overnight: 9.10%
- 1 Month: 9.10%
- 3 Months: 9.20%
- 6 Months: 9.25%
- 1 Year: 9.30%
- 2 Years: 9.40%
- 3 Years: 9.45%
You can also check Loan Against Property Interest Rates Online.
Axis Bank MCLR Rate Trend
Below is the Axis Bank MCLR Rate trend in the year 2024:
| Last MCLR Updated Date | Tenure | MCLR |
|---|---|---|
| 17 March 2024 | Overnight | 9.10% |
| 1 Month | 9.10% | |
| 3 Months | 9.20% | |
| 6 Months | 9.25% | |
| 1 Year | 9.30% | |
| 2 Years | 9.40% | |
| 3 Years | 9.45% | |
| 17 February 2024 | Overnight | 9.10% |
| 1 Month | 9.10% | |
| 3 Months | 9.20% | |
| 6 Months | 9.25% | |
| 1 Year | 9.30% | |
| 2 Years | 9.40% | |
| 3 Years | 9.45% | |
| 18 January 2024 | Overnight | 9.05% |
| 1 Month | 9.05% | |
| 3 Months | 9.15% | |
| 6 Months | 9.20% | |
| 1 Year | 9.25% | |
| 2 Years | 9.35% | |
| 3 Years | 9.40% | |
| 18 March 2023 | Overnight | 8.00% |
| 1 Month | 8.10% | |
| 3 Months | 8.20% | |
| 6 Months | 8.40% | |
| 1 Year | 8.50% | |
| 2 Years | NA | |
| 3 Years | 8.80% | |
| 18 October 2022 | Overnight | 8.15% |
| 1 Month | 8.15% | |
| 3 Months | 8.25% | |
| 6 Months | 8.30% | |
| 1 Year | 8.35% | |
| 2 Years | 8.45% | |
| 3 Years | 8.50% | |
| 18 August 2022 | Overnight | 7.85% |
| 1 Month | 7.85% | |
| 3 Months | 7.95% | |
| 6 Months | 8% | |
| 1 Year | 8.05% | |
| 2 Years | 8.15% | |
| 3 Years | 8.20% | |
| 18 July 2022 | Overnight | 7.80% |
| 1 Month | 7.80% | |
| 3 Months | 7.60% | |
| 6 Months | 7.90% | |
| 1 Year | 7.95% | |
| 2 Years | 8.10% | |
| 3 Years | 8.15% | |
| 18 June 2022 | Overnight | 7.75% |
| 1 Month | 7.75% | |
| 3 Months | 7.85% | |
| 6 Months | 7.35% | |
| 1 Year | 7.50% | |
| 2 Years | 8.05% | |
| 3 Years | 8.10% | |
| 18 April 2022 | Overnight | 7.20% |
| 1 Month | 7.20% | |
| 3 Months | 7.30% | |
| 6 Months | 7.35% | |
| 1 Year | 7.40% | |
| 2 Years | 7.50% | |
| 3 Years | 7.55% | |
| 18 January 2022 | Overnight | 7.15% |
| 1 Month | 7.15% | |
| 3 Months | 7.25% | |
| 6 Months | 7.30% | |
| 1 Year | 7.35% | |
| 2 Years | 7.45% | |
| 3 Years | 7.50% |
Axis Bank Home Loan Interest Rate & MCLR
The above Axis Bank home loan interest rate MCLR are not applicable anymore as the bank charges interest rates based on the current Repo Rate now, which is 6.50%:
Following are the current Axis Bank home loan interest rates linked to the current Repo Rate.
| Applicant Type | Type | Repo Rate + Spread | Effective Rate of Interest |
|---|---|---|---|
| For Salaried Individuals | Floating Rate | Repo Rate + 2.50% to Repo Rate + 2.90% | 8.75% - 9.10% |
| Fixed Rate | All Loan Amounts | 14% p.a. | |
| For Self Employed Individuals | Floating Rate | Repo Rate + 2.60% to Repo Rate + 2.90% | 9.10% p.a. |
| Fixed Rate | All Loan Amounts | 14% p.a. |
Compare Best Home Loan Interest Rates from Top Banks.
Axis Bank 1 Year MCLR Rate
Currently, Axis Bank 1 Year MCLR Rate is 9.30% effective from 18th March 2024. This rate will be valid till the next review. The 1-year MCLR rate of the bank is updated every month. Even a minute change in the MCLR rate may have a significant impact on your MCLR-linked Axis Home Loan or other lending products offered by the bank. Hence, make sure you check the updated MCLR rates of the bank every month. A change in MCLR may affect your loan Equated Monthly Instalments (EMIs) as well.
Axis Bank MCLR Rate History
There has been a significant change in the MCLR rates of Axis Bank this year. Following is the Axis Bank MCLR rate history for the year 2024:
| Last MCLR Updated Date | MCLR |
|---|---|
| 17 March 2024 | 9.10% - 9.45% |
| 17 February 2024 | 9.10% - 9.45% |
| 18 January 2024 | 9.05% - 9.40% |
| 18 March 2023 | 8.00% - 8.80% |
| 18 October 2022 | 8.15% - 8.50% |
| 18 August 2022 | 7.85% - 8.20% |
| 18 July 2022 | 7.80% - 8.15% |
| 18 June 2022 | 7.75% - 8.10% |
| 18 April 2022 | 7.20% - 7.55% |
| 18 Jan 2022 | 7.15% - 7.50% |
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Axis MCLR Rate FAQs
What is the current Axis Bank MCLR rate?
The current Axis Bank MCLR rate varies from 9.10% to 9.45% for different tenures with effect from 18.03.2024.
What is Axis Bank Base Rate?
Currently, the Axis Bank Base Rate is 10.40% w.e.f. 18th March 2024.
Will Axis Bank’s MCLR be different from the MCLR that other banks provide?
The MCLR rate may differ from one bank to another. Axis Bank decides Axis Bank home loan MCLR interest rate or MCLR rate for other products every month.
What is Axis Bank’s benchmark MCLR for home loans, and what is the reset period on it?
The benchmark Axis Bank home loan current MCLR rate varies from 9.10% to 9.45%. The MCLR rate of Axis Bank home loan is reset every month by the bank.
What is the procedure to change from the FRR//PLR/I-Base-based benchmark to MCLR?
You can either switch your FRR//PLR/I-Base-based benchmark to MCLR in the same bank or transfer the loan to another bank.
