Andhra Bank MCLR Rates, Andhra Bank Base Rate – Dec 2018

Andhra Bank MCLR Rate

5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current MCLR rate of Andhra Bank ranges from 8.15% to 8.70% varying by reset frequency of the loan. Andhra Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

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Tenure wise MCLR Andhra Bank Rate Today
Overnight 8.15%
1 Month 8.20%
3 Month 8.40%
6 Month 8.55%
1 Year 8.70%
Andhra Bank Base Rate 9.55%
Compare MCLR Base Rate Trend

Andhra Bank Interest Rates

Andhra Bank Interest Rates
Home Loan Interest Rates 8.75% * Floating Detail
Loan Against Property Rates 10.75% * Floating Detail
Personal Loan Interest Rates 11.55% to 13.05% Detail
Car Loan Interest Rates 9.40% Detail
Business Loan Interest Rates 15.75% to 16.00% Detail
Gold Loan Interest Rates 10.70% Detail
Fixed Deposit Interest Rates 4.00% to 6.80% Detail
Saving Account Interest Rates 4.00% to 4.00% Detail
RD Interest Rates 6.26% to 6.80% Detail

MCLR of Andhra Bank

Andhra Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Andhra Bank as announced on 15 Nov 2018 are:

  • Overnight MCLR Rate is 8.15%. The rate was last revised on 16 Aug 2018 to 8.15% from 8.00%
  • 1 Month MCLR Rate is 8.20%. The rate was last revised on 16 Aug 2018 to 8.20% from 8.05%
  • 3 Month MCLR Rate is 8.40%. The rate was last revised on 16 Aug 2018 to 8.40% from 8.25%
  • 6 Month MCLR Rate is 8.55%. The rate was last revised on 16 Aug 2018 to 8.55% from 8.40%
  • 1 Year MCLR Rate is 8.70%. The rate was last revised on 16 Aug 2018 to 8.70% from 8.55%

Andhra Bank MCLR Rate Trend

Date Andhra Bank MCLR
15th Nov 18
Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.40%
6 Month : 8.55%
1 Year : 8.70%
15th Oct 18
Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.40%
6 Month : 8.55%
1 Year : 8.70%
15th Sep 18
Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.40%
6 Month : 8.55%
1 Year : 8.70%
16th Aug 18
Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.40%
6 Month : 8.55%
1 Year : 8.70%
16th Jul 18
Overnight : 8.00%
1 Month : 8.05%
3 Month : 8.25%
6 Month : 8.40%
1 Year : 8.55%
15th Jun 18
Overnight : 8.00%
1 Month : 8.05%
3 Month : 8.25%
6 Month : 8.40%
1 Year : 8.55%
15th May 18
Overnight : 7.95%
1 Month : 8.00%
3 Month : 8.20%
6 Month : 8.35%
1 Year : 8.50%
16th Apr 18
Overnight : 7.85%
1 Month : 7.90%
3 Month : 8.10%
6 Month : 8.25%
1 Year : 8.40%
15th Mar 18
Overnight : 7.85%
1 Month : 7.90%
3 Month : 8.10%
6 Month : 8.25%
1 Year : 8.40%
15th Feb 18
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.25%
1 Year : 8.40%
15th Jan 18
Overnight : 8.00%
1 Month : 8.05%
3 Month : 8.10%
6 Month : 8.25%
1 Year : 8.40%
15th Dec 17
Overnight : 8.00%
1 Month : 8.05%
3 Month : 8.10%
6 Month : 8.25%
1 Year : 8.40%
15th Nov 17
Overnight : 8.10%
1 Month : 8.15%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.40%
16th Oct 17
Overnight : 8.10%
1 Month : 8.15%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.40%
11th Sep 17
Overnight : 8.10%
1 Month : 8.15%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.40%
16th Aug 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
15th Jul 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
15th Jun 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
15th May 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
15th Apr 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
15th Apr 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
03rd Jan 17
Overnight : 8.45%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.65%
15th Oct 16
Overnight : 9.25%
1 Month : 9.30%
3 Month : 9.35%
6 Month : 9.40%
1 Year : 9.45%
15th Jul 16
Overnight : 9.30%
1 Month : 9.35%
3 Month : 9.40%
6 Month : 9.45%
1 Year : 9.55%
01st Apr 16
Overnight : 9.35%
1 Month : 9.40%
3 Month : 9.45%
6 Month : 9.50%
1 Year : 9.60%
30th Nov -1
Overnight : 8.10%
1 Month : 8.00%
  • Effective 1st April 2016, Andhra Bank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. Andhra Bank MCLR rates for different tenors range from 8.15% to 8.70%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, Andhra Bank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, Andhra Bank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, Andhra Bank may decide to cut its 1 Year MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of Andhra Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Andhra Bank.
  • MCLR rate can be revised by Andhra Bank every month. However, 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 keeping them unchanged.

Andhra Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by Andhra Bank is benchmarked to its MCLR Rate for a particular tenure, say 1 month or 3 month or 6 months.
  • Shorter duration loans such as cash credit, OD facility, personal loans are linked to short tenure 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. Andhra Bank home loan rate is benchmarked to 1 Year MCLR Base Rate which will be repriced after 1 Year. Say, you take a loan from Andhra Bank at current 1 Year MCLR rate of 8.70% plus spread of 20 bps. So, the loan will initially be priced at 8.9%. Its next re-pricing will be done after 1 Year from now. If the 3 Month MCLR rate after 1 Year increases by 10 bps, the loan will be priced at 9% for the next period.
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    About Andhra Bank

    • Andhra Bank's registered office is located at Dr.Pattabhi Bhavan 5-9-11 Saifabad, Hyderabad-500004 .
    • Andhra Bank's management is led by its CEO Mr. Suresh N Patel.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
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    Andhra Bank News - Dec 2018
    • 2018-11-16 : Andhra Bank maintains MCLR for November
      Andhra Bank has maintained its MCLR for the month of November. The rates continue to be in the range of 8.15% to 8.70%. Six-month MCLR is at 8.55% and that of one year is 8.70%. The new rates are effective from November 15, 2018.
    • 2018-09-17 : Andhra Bank maintains MCLR
      Andhra Bank has maintained its MCLR for the month of September. The rates continue to be in the range of 8.15% to 8.70%. Six-month MCLR stand at 8.55% and that of one year is 8.70%. The rates are effective from 15th Sep 2018.
    • 2018-08-16 : Andhra Bank revises MCLR for August
      Andhra Bank has revised MCLR for the month of August by upto 15 basis points. The rates continue to be in the range of 8.15% to 8.70%. The new rates for Six months MCLR is now at 8.55% and that of one year is 8.70%. The new rates are effective from August 16, 2018.
    • 2017-09-28 : Andhra Bank cuts base rate to 9.55 per cent
      Public sector lender, Andhra Bank has announced a rate cut in its base rate by 0.15 per cent to 9.55 per cent. The base rate of the bank has been revised from existing 9.70 per cent to 9.55 per cent. However, the bank has kept its benchmark prime lending rate (BPLR) unchanged at 13.95 per cent. The revised base rates are effective from October 1, 2017.
    • 2017-09-12 : Andhra Bank revises MCLR rates
      Andhra Bank has reduced its marginal cost based lending rate (MCLR) across all tenors. For overnight and one month maturities, the rate has been revised to 8.10 per cent and 8.15 per cent, while for three month and six month maturities the rate has been reduced to 8.20 per cent and 8.30 per cent respectively.
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