Interest Rate Not Reduced on Axis Bank Home Loans

[iamabhisekagar]

So I have 1 home loan and 2 LAPs currently with Axis Bank, all linked to Repo Rates.
From February 2025 to date, we have had 3 rate cuts of 0.25%, 0.25%, and 0.50% respectively
However, Interest Rates on my Loans have only reduced by 0.25% as of now...
Is it odd? what are the next steps?

 

[TechnoFinoTechnoFino is verified member.]

As expected, this is definitely not right. Contact your bank and ask for a rate cut.

I have a home loan with SBI, and they usually reduce the interest rate to match the repo rate cut within a few days of the RBI's announcement. The recent rate cut hasn't been applied yet, but they typically take around 3 to 7 days. So, I'm waiting for them to apply it automatically.

 

[prankster]

Axis bank usually reviews these changes quarterly imo, you can check with them over email.

 

[Indrajeet100]

There is interest reset date for loan usually it is quarterly for home loan. For your LAP you need to see you sanction letter. Benchmark rate changes reflect in loan from this date onwards.