Categories: Banking

Andhra Bank – Current MCLR Base Rate for Lending

Andhra Bank has hiked its One Year MCLR Base Rate or the minimum lending rate by 0.15%, or 15 basis points with effect from Thursday, August 16, 2018. State Bank of India has revised its One Year MCLR Base Rate from 8.55 percent to 8.70 percent per annum.

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Andhra Bank – Current MCLR Base Rate and Loan Interest Rate

New Delhi (Delhi, India), September 16, 2018

Andhra Bank Increases One Year MCLR Base Rate to 8.70 Percent Per Annum

The Andhra Bank has hiked its benchmark MCLR (Marginal Cost of Funds based Lending Rate) Base Rate for new loans by 0.15 percent, or 15 basis points (BPS) with effect from Thursday, August 16, 2018.

Andhra Bank has revised its One Year MCLR Base Rate or the minimum lending rate from 8.55 percent to 8.70 percent per annum.

Andhra Bank’s new MCLR Base Rate will be applicable for all new loans and the existing loans that may come up for renewal.

Andhra Bank applies the interest rates on all new loans and advances with reference to MCLR based rates from April 01, 2016 onwards.

The Reserve Bank of India (RBI) has asked all banks to set at least five MCLR based benchmark lending rates – Overnight MCLR, One Month MCLR, Three Month MCLR, Six Month MCLR, and One Year MCLR. The loans linked with MCLR will be reset for a maximum of one year tenure.

Andhra Bank’s Marginal Cost of Funds based Lending Rate (MCLR) Historical Data

Andhra Bank’s MCLR Base Rate effective from September 15, 2018 is:
Overnight MCLR: 8.15%
One Month MCLR: 8.20%
Three Month MCLR: 8.40%
Six Month MCLR: 8.55%
One Year MCLR: 8.70%

Andhra Bank’s MCLR Base Rate effective from August 16, 2018 was:
Overnight MCLR: 8.15%
One Month MCLR: 8.20%
Three Month MCLR: 8.40%
Six Month MCLR: 8.55%
One Year MCLR: 8.70%

Andhra Bank’s MCLR Base Rate effective from June 15, 2018 was:
Overnight MCLR: 8.00%
One Month MCLR: 8.05%
Three Month MCLR: 8.25%
Six Month MCLR: 8.40%
One Year MCLR: 8.55%

Andhra Bank’s MCLR Base Rate effective from May 15, 2018 was:
Overnight MCLR: 7.95%
One Month MCLR: 8.00%
Three Month MCLR: 8.20%
Six Month MCLR: 8.35%
One Year MCLR: 8.50%

Andhra Bank’s MCLR Base Rate effective from March 15, 2018 was:
Overnight MCLR: 7.85%
One Month MCLR: 7.90%
Three Month MCLR: 8.10%
Six Month MCLR: 8.25%
One Year MCLR: 8.40%

Andhra Bank’s MCLR Base Rate effective from February 15, 2018 was:
Overnight MCLR: 7.85%
One Month MCLR: 7.95%
Three Month MCLR: 8.10%
Six Month MCLR: 8.25%
One Year MCLR: 8.40%

Andhra Bank’s MCLR Base Rate effective from December 15, 2017 was:
Overnight MCLR: 8.00%
One Month MCLR: 8.05%
Three Month MCLR: 8.10%
Six Month MCLR: 8.25%
One Year MCLR: 8.40%

Andhra Bank’s MCLR Base Rate effective from September 11, 2017 was:
Overnight MCLR: 8.10%
One Month MCLR: 8.15%
Three Month MCLR: 8.20%
Six Month MCLR: 8.30%
One Year MCLR: 8.40%

Andhra Bank’s MCLR Base Rate effective from January 03, 2017 was:
Overnight MCLR: 8.45%
One Month MCLR: 8.50%
Three Month MCLR: 8.55%
Six Month MCLR: 8.60%
One Year MCLR: 8.65%

Andhra Bank’s MCLR Base Rate effective from October 15, 2016 was:
Overnight MCLR: 9.25%
One Month MCLR: 9.30%
Three Month MCLR: 9.35%
Six Month MCLR: 9.40%
One Year MCLR: 9.45%

Andhra Bank’s MCLR Base Rate effective from July 15, 2016 was:
Overnight MCLR: 9.30%
One Month MCLR: 9.35%
Three Month MCLR: 9.40%
Six Month MCLR: 9.45%
One Year MCLR: 9.55%

Andhra Bank’s MCLR Base Rate effective from April 01, 2016 was:
Overnight MCLR: 9.35%
One Month MCLR: 9.40%
Three Month MCLR: 9.45%
Six Month MCLR: 9.50%
One Year MCLR: 9.60%

Andhra Bank Decreases Base Rate to 9.55 Percent Per Annum

The Andhra Bank has reduced its Base Rate (BR) for old loans by 0.15 percent, or 15 basis points (BPS) with effect from Sunday, October 01, 2017.

Andhra Bank has revised its Base Rate or the minimum lending rate from 9.70 percent to 9.55 percent per annum.

Andhra Bank decides its interest rates on all loans and advances lent until March 31, 2016 with reference to Base Rate from July 01, 2010 onwards.

Andhra Bank’s Base Rate Historical Data

October 01, 2017 Base Rate: 9.55%
October 15, 2016 Base Rate: 9.70%
September 29, 2015 Base Rate: 9.75%
June 11, 2015 Base Rate: 10.00%
August 19, 2013 Base Rate: 10.25%
July 22, 2013 Base Rate: 10.00%
March 01, 2013 Base Rate: 10.25%
May 01, 2012 Base Rate: 10.50%
August 01, 2011 Base Rate: 10.75%
July 11, 2011 Base Rate: 10.25%
May 09, 2011 Base Rate: 10.00%
February 05, 2011 Base Rate: 9.50%
December 13, 2010 Base Rate: 9.00%
October 05, 2010 Base Rate: 8.50%
July 01, 2010 Base Rate: 8.25%

Written By:
Suzanne Shwartz