Andhra Bank Base Rate, Andhra Bank MCLR Base Rate Past Trend

Current Andhra Bank MCLR Base Rate

Last Updated 28th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 9.25%
1 Month 9.30%
3 Month 9.35%
6 Month 9.40%
1 Year 9.45%
Current MCLR base rate of Andhra Bank ranges from 9.25% to 9.45% depending on the reset frequency of the loan. Rates are revised every month.
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Andhra Bank Interest Rates
Home Loan Interest Rates 9.65% * Floating Detail
Loan Against Property Rates 12.40% * Floating Detail
Personal Loan Interest Rates 13.85% * Detail
Fixed Deposit Interest Rates 4.00% to 7.00% * Detail

Past Trend Base Rate of Andhra Bank

Andhra Bank base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
15th Oct 16
9.25%
9.30%
9.35%
9.40%
9.45%
-
-
-
15th Jul 16
9.30%
9.35%
9.40%
9.45%
9.55%
-
-
-
01st Apr 16
9.35%
9.40%
9.45%
9.50%
9.60%
-
-
-

Andhra Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Andhra Bank decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Andhra Bank has different MCLR base rates ranging from 9.25% to 9.45% for different tenures

Changes in MCLR Base rate of Andhra Bank

  • MCLR rate can be revised by Andhra Bank every month
  • Note that it is not mandatory for Andhra Bank to revise its rate every month and it may choose to retain the same rate for a longer period

Andhra Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Andhra Bank is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from Andhra Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Andhra Bank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.60%. This loan will initially be priced at 10.1%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.35%, the loan will be priced at 9.85% for the next year

Past trend of Andhra Bank Base Rate vs RBI Repo Rate

Date Base Rate
15th Oct 16 9.70%
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
29th Sep 15: 0.5% repo cut by RBI
29th Sep 15 9.75% decreased by 0.25%
11th Jun 15 10.00% increased by 1.75%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
19th Aug 13 10.25%
22nd Jul 13 10.00% decreased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
01st Mar 13 10.25% increased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% increased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
11th Jul 11 10.25% decreased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
09th May 11 10.00% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
05th Feb 11 9.50% decreased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 9.00% decreased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
05th Oct 10 8.50% decreased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25% decreased by 0.25%

Andhra Bank Base Rate Vs. RBI Repo Rate Trend

About Andhra Bank

  • Andhra Bank is a Public Sector Bank in India with 2,507 branches, 2,232 ATM's across the country.
  • Andhra Bank's registered office is located at Dr.Pattabhi Bhavan 5-9-11 Saifabad, Hyderabad-500004 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 4,538 crs. and Standalone net profit of Rs. 638 crs. Andhra Bank reported total deposits of Rs. 155,012 crs and total advances of Rs. 129,576 crs.
  • Andhra Bank's management is led by its CEO Mr. Suresh N Patel.
  • Highest fixed deposit interest offered by Andhra Bank is 7.15% per annum on deposits.
  • Its current Base Rate is 9.70%, which was last revised on 15th Oct 16.
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News - Dec 2016
02nd Aug 16 Andhra Bank opens 24x7 facility
Andhra Bank plans to provide 24x7 banking facility in all its branches in phases. After the opening of Navshakti branch at its main branch, people do not have to wait in long queues to transact at fixed business hours as in conventional branches. Navshakti branches are a boon to customers as they can transact easily even at night after their regular office hours. In the next 2 to 3 months, bank is planning to open six more such branches in the zone.
15th Jul 16 Andhra Bank reduces MCLR by 0.05 percent
Andhra Bank will reduce its Marginal Cost Lending Rate (MCLR) by 0.05 percent or 5 basis points across maturities. This will reduce its one-year MCLR to 9.55 percent, from the current rate of 9.60 percent . Overnight MCLR will be reduced to 9.3 percent , while 6 month MCLR will be lowered to 9.4 percent. The new MCLR will be effective from July 15, 2016.
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