Axis Bank Cuts Home Loan Rates To An Industry Low Of 8.35%


Axis Bank following the footsteps of other major lenders such as SBI, ICICI Bank and HDFC, has decided to slash its home loan interest rates by 30 basis points to 8.35% for home loans applied by salaried segment borrowers up to Rs 30 lakh.

The bank's rate is the lowest in the industry as the other lenders, SBI, HDFC, LIC and ICICI Bank offer 8.35% to its women borrowers, while 8.40% to rest of the customers.

The revised rate will be with effect from May 16, reported a leading news agency. Whereas the bank, for the self-employed segment, the loans up to Rs 30 lakh will be charged an interest rate of 8.40%.

Axis Bank on loans from Rs 30-75 lakh will charge 8.65% to the salaried class and 8.70% for the self-employed class. The rates for home loans over Rs 75 lakh are 8.70% and 8.75% for the respective segments.

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