Axis Bank reduces prime-lending rate by 25 basis-points

Axis Bank has reduced its benchmark prime lending rate (BPLR), following similar moves by public-sector banks like the State Bank of India.

Effective from February 14, the BPLR has been reduced by 25 basis points to 14.75 per cent.

The bank’s mortgage reference rate (MRR) has also been reduced by 50 basis points to 12.75 per cent. .

The reduction in this rate means cheaper floating rate home loans.