The Home Loan floating rate will change when either of below rate changes:
- Repo Rate change on the reset date for loans sanctioned from 1st October’19
- Axis Bank's Marginal cost of lending rate (MCLR) change on the reset date for loans sanctioned from 1st April, 2016
- Axis Bank's Base Rate (BR) for loans sanctioned from 1st July, 2010
- Axis Bank's Mortgage Reference Rate (MRR) for loans sanctioned before 1st July, 2010
Axis Bank reassesses the BR and MRR from time to time after considering numerous factors including the cost of funds, cost of operations, prevailing interest rates, and provisioning requirements.