Axis Bank MCLR Rate
Current Axis Bank MCLR rates range from 9.05% - 9.40% for different tenures w.e.f 18.04.2025. 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 | 9.05% | 9.05% | 9.15% | 9.20% | 9.25% | 9.35% | 9.40% |
| Canara Bank | 8.25% | 8.35% | 8.45% | 8.80% | 9.00% | 9.30% | 9.40 |
| Yes Bank | 9.10% | 9.45% | 10.10% | 10.35% | 10.50% | NA | NA |
| HDFC Bank | 9.10% | 9.15% | 9.25% | 9.40% | 9.45% | 9.45% | 9.45% |
| ICICI Bank | 8.60% | 8.60% | 8.65% | 9.00% | 9.10% | NA | NA |
| SBI | 8.20% | 8.45% | 8.50% | 8.85% | 8.95% | 9.05% | 9.10% |
| PNB | 8.30% | 8.35% | 8.55% | 8.75% | 8.90% | NA | 9.20% |
| PSB | 8.20% | 8.45% | 8.55% | 8.85% | 9.10% | NA | NA |
| Citibank | 6.65% | 6.90% | 6.95% | 7.00% | 6.95% | NA | NA |
| Bank of Baroda | 8.15% | 8.35% | 8.50% | 8.75% | 8.95% | NA | NA |
| IndusInd Bank | 10.20% | 10.25% | 10.40% | 10.55% | 10.55% | 10.55% | 10.55% |
| IDFC FIRST Bank | 10.20% | 10.20% | 10.40% | 10.60% | 10.70% | NA | NA |
| Bank of India | 8.15% | 8.40% | 8.55% | 8.75% | 8.95% | NA | 9.10% |
| Central Bank of India | 8.10% | 8.15% | 8.50% | 8.70% | 8.85% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.40% | 8.55% | 8.85% | 9.10% | 9.15% | 9.70% | 10.10% |
| Indian Overseas Bank | 8.20% | 8.45% | 8.60% | 8.85% | 8.95% | 9.00% | 9.15% |
| UCO Bank | 8.20% | 8.35% | 8.50% | 8.80% | 8.95% | NA | NA |
| Kotak Bank | 8.75% | 9.00% | 9.15% | 9.40% | 9.55% | 9.55% | 9.65% |
| HSBC Bank | 8.30% | 8.45% | 8.60% | 8.70% | 8.75% | NA | NA |
Current Axis Bank MCLR Rate 2025
Axis MCLR rate ranges from 9.05% - 9.40% for different tenures with effect from 18th April 2025. These rates will be valid till the next review by the bank. Axis Bank is one of India's best private sector banks offering 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: 9.05%
- 1 Month: 9.05%
- 3 Months: 9.15%
- 6 Months: 9.20%
- 1 Year: 9.25%
- 2 Years: 9.35%
- 3 Years: 9.40%
You can also check Loan Against Property Interest Rates Online.
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% - 11.60% |
| 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. |
Axis Bank 1 Year MCLR Rate
Currently, Axis Bank 1 Year MCLR Rate is 9.25% effective from 18th April 2025. 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 2025:
| Last MCLR Updated Date | MCLR |
|---|---|
| 18 April 2025 | 9.05% - 9.40% |
| 17 August 2024 | 9.15% - 9.50% |
| 18 July 2024 | 9.10% - 9.45% |
| 18 June 2024 | 9.10% - 9.45% |
| 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% |
Axis MCLR Rate FAQs
The current Axis Bank MCLR rate varies from 9.05% - 9.40% for different tenures with effect from 18.04.2025.
Currently, the Axis Bank Base Rate is 9.05% w.e.f. 18th April 2025.
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.
The benchmark Axis Bank home loan current MCLR rate varies from 9.05% - 9.40%. The MCLR rate of Axis Bank home loan is reset every month by the bank.
You can either switch your FRR//PLR/I-Base-based benchmark to MCLR in the same bank or transfer the loan to another bank.
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