Axis Bank has dropped down its rate. According to the reports the bank has reduced its rate by 0.10%. Earlier the base rate was 10.25% now it has dropped down to 10.15%.
Base rate is the minimum rate at which the bank lends to the other bank. The new rate is applicable from October 15, 2014. The bank has reported that as per the reduction in the base rate, there will be reduction in the rates of the loan as well. The loan rates will also be reduced by 0.10%.