Axis Bank Limited – Home Loan and Housing Finance Interest Rates which necessary for house buyers.
New Delhi (Delhi, India), December 22, 2014
Axis Bank Ltd Cuts Base Rate fixed to 10.15% and Benchmark Prime Lending Rate set 17.90% which helpful to all people. Borrowing is easy from bank.
As like other bank has updated its lending rates and here Axis Bank Limited decreases its by 0.10 percent, you may it 10 basis points. It was effected from Wednesday, October 15, 2014.
Axis Bank has revised its base rate or the minimum interest rate of 10.25 percent to 10.15 percent per year. The Axis Bank determines its interest rates on new loans and loans, including consumer loans, with reference to the base rate with effect from 1 July of 2010.
Axis Bank has also reduced its benchmark prime lending rate (BPLR) for home loans and consumer loans of 18.00 percent to 17.90 percent per year. The reference rates are for setting interest rates for mortgages and loans up to June 30, 2010 sanctioned use.
Current rate cut by the Axis Bank to reduce the cost of funds for the people who have their home loans made advances on variable interest rate. However, such interest revision will have no impact on fixed-income customers of Axis Bank, whose contract rates will remain unchanged.
The Historical Axis Bank base rate and the reference rate
October 15, 2014 Base price: 10.15% Benchmark Prime Lending Rate: 17.90%
August 19, 2013 Base price: 10.25% Benchmark Prime Lending Rate: 18.00%
August 6, 2011 Base Rate: 10.00% Benchmark Prime Lending Rate: 17.75%
July 5, 2011 base rate: 9.75% Benchmark Prime Lending Rate: 17.50%
May 5, 2011 base rate: 9.50%
April 1, 2011 base rate: 9.00%
February 19, 2011 base rate: 8.75%
January 16, 2011 base rate: 8.25%
December 9, 2010 base rate: 8.00%
October 1, 2010 base rate: 7.75%
July 1, 2010 base rate: 7.50%