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Axis Bank has reduced the marginal cost of fund based lending rate (MCLR) by 0.15-0.20 percent effective from Friday.
It has said in a regulatory filing that “Axis Bank reviews and reduces the MCLR by 15 basis points (bps) or 0.15 percent across all tenures up to 1 year and by 20 bps for 2-year and 3-year tenure.”
The new MCLR, for overnight tenure will be 8.65 percent.
One-month tenure will be attracting a rate of 8.70 percent whereas those for three and six months will be 8.90 and 9 percent, respectively.
The new MCLR, for one year, will be 9.05 percent.
