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 7.25% per annum on deposits.
Its current Base Rate is 9.75%, which was last revised on 29th Sep 15.
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.