Axis Bk cuts base rate by 10 bps to 10.15% as cost of funding eases

Mumbai : Private sector Axis Bank today announced reducing its lending rate by 10 basis points to 10.15% from 10.25%. Its interest rate is now closer to the big three peers that have their minimum lending rates at 10 per cent. “We have reduced the base rate by 10 basis points as the cost of fund has eased due to softening of interest rates based on improving liquidity and other macro-economic developments,” Axis Bank Treasury Business banking) and capital markets President Sidharth Rath said in a statement.