Leading private-sector lender, Axis Bank today reduced its benchmark prime lending rate (PLR) by 0.5 per cent with immediate effect.
With this, the PLR of Axis Bank stands reduced at 15.25 per cent, the bank said in a press release issued here.
The reduction in PLR will be applicable for all PLR-linked floating loans for both existing and new customers, a bank official said.
However, this will not benefit the home and auto loan borrowers of the bank, the official said.
Private-sector lender, Bank of Rajasthan also reduced its retail prime lending rate by 0.25 per cent to 9.75 per cent with immediate effect.