Andhra Bank cuts rates by 25 bps

Sat 10 Aug 2019, 11:08:37
Andhra Bank will cut its marginal cost of funds based lending rates (MCLR) by 25 bps across overnight, one month, three months, six months and one year tenures, according to K Rajendra Kumar (Hyderabad zonal manager) and D V Dhanumjaya Rao (Secunderabad zonal manager). These will come into effect from August 16. MCLR for these tenures are 7.95 per cent for overnight, 8 per cent for one month, 8.2 per cent for three months, 8.35 per cent for six months and 8.45 per cent for one year, it said.

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