Axis Bank hikes MCLR by 5 basis points across tenures

Axis Bank hikes MCLR by 5 basis points across tenures

In December, the private bank had raised the marginal cost of funds-based lending rate by 30 bps across loan tenures

FPJ Web DeskUpdated: Wednesday, January 18, 2023, 01:23 PM IST
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Axis Bank hikes MCLR by 5 basis points across tenures | Image: Axis Bank (Representative)

Axis Bank Ltd has hiked its marginal cost of funds-based lending rates by five basis points across tenures, effective today, according to information on the bank's website. The revised rates on the bank's loans will be in the range of 8.60-8.95%.

In December, the private bank had raised the marginal cost of funds-based lending rate by 30 bps across loan tenures.

The RBI's norms require banks to review their lending rates every month based on the marginal cost of funds.

Shares of the lender were up 0.1% at 918.70 rupees at 12:00 IST.

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