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Andhra Bank cuts MCLR by 25 basis points
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Andhra Bank cuts MCLR by 25 basis points

Agency News

Hyderabad, Aug 9: Andhra Bank here on Friday announced the reduction in the Marginal Cost of Funds Based Lending Rate (MCLR) by 25 Basis Points across all five tenors. This will benefit the customers in a big way as it significantly reduces the interest burden on their loans, State-run Andhra Bank said in a statement here. The reduced interest rate will benefit housing, vehicle, personal and business loan borrowers. The revised applicable MCLRs effective from August 16 .(UNI)