Axis bank cuts home loan rates to industry low of 8.35%

Rates applicable for loans up to Rs.3 million

by Janhavi Behere

Axis bank has decided to cut home loan interest rates by 30 bps to 8.35 per cent for loans up to Rs.3 million for the salaried segment borrowers. For the self-employed segment, Axis bank will offer loans up to Rs.3 million at an interest rate of 8.4 per cent. A couple of days back, HDFC and ICICI too had cut home loan rates[see]. Axis bank’s revised rates, which are effective from 16 May 2017, are now the lowest in the industry as SBI, ICICI bank, HDFC and LIC Housing Finance offer 8.35 per cent to its women borrowers while the rest of the customers are offered home loans at 8.40 per cent to boost affordable housing. Rajiv Anand, executive director, Axis bank has stated that the bank has been fostering an ecosystem for credit delivery for the affordable housing segment. He believes that the downward revision will help more people realise their dream of buying a house.

References
1. http://www.moneycontrol.com/news/business/economy/axis-bank-cuts-home-loan-rates-to-an-industry-low-of-8-35-for-all-customers-2282751.html
CMIE STATISTICS
Unemployment Rate
Per cent
5.0 +0.0
Consumer Sentiments Index
Base September-December 2015
94.9 0.0
Consumer Expectations Index
Base September-December 2015
94.8 0.0
Current Economic Conditions Index
Base September-December 2015
95.0 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.36 1.34 1.30 2.33
Completed projects 0.87 1.21 1.05 1.26
Stalled projects 2.67 0.69 0.95 3.35
Revived projects 0.23 0.34 0.22 0.18
Implementation stalled projects 0.77 0.78 0.59 1.05
Updated on: 20 May 2018 12:20PM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 10.9
 Expenses 9.9 9.0 12.9 19.0
 Net profit -19.8 -18.1 -14.0 -65.1
 PAT margin (%) 5.3 5.5 4.9 3.0
 Count of Cos. 4,493 4,480 4,443 904
Non-financial Companies
 Income 10.2 8.2 13.2 12.8
 Expenses 10.5 8.1 12.4 14.4
 Net profit -25.1 -6.0 12.6 0.7
 PAT margin (%) 5.2 6.2 6.4 9.5
 Net fixed assets 9.2 18.6
 Current assets 78.6 9.3
 Current liabilities 11.0 12.7
 Borrowings 10.4 -4.1
 Reserves & surplus 5.2 9.2
 Count of Cos. 3,471 3,455 3,441 713
Numbers are net of P&E
Updated on: 20 May 2018 12:20PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.5 1.7 5.3 1.6
 Expenses 5.6 1.9 5.4 0.7
 Net profit -0.1 -9.6 24.1 7.4
 PAT margin (%) 3.1 2.8 3.5 9.0
 Assets 9.5 10.1 7.0 3.5
 Net worth 8.5 11.5 6.3 3.1
 RONW (%) 5.8 4.9 5.9 14.9
 Count of Cos. 25,724 23,767 20,926 23
Non-financial Companies
 Income 4.8 0.9 5.0 1.6
 Expenses 5.0 0.2 5.4 0.7
 Net profit -8.4 19.7 18.6 8.2
 PAT margin (%) 2.0 2.5 3.0 8.2
 Net fixed assets 13.4 17.2 5.9 5.1
 Net worth 7.0 12.2 4.8 3.3
 RONW (%) 4.7 5.2 6.0 14.0
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 14.4
 Net working capital cycle (days) 66 65 62 35
 Count of Cos. 20,974 19,895 17,449 21
Numbers are net of P&E
Updated on: 03 May 2018 2:18PM

Time series available from 1990 onwards