Axis bank cuts lending rates by upto 0.70%
For loans of overnight tenure and one month, the new MCLR will be 7.90 per cent, and three-month tenure will attract a revised rate of 8.05 per cent, while those for six months, one year will be 8.15 percent and 8.25 per cent respectively.
The first year Marginal Cost of funds Based Lending Rate (MCLR) stands at 8.25 per cent after the revision. Photo: Reuters