Andhra Bank has decreased its Benchmark Prime Lending Rate by 0.05%, or 05 basis points with effect from Saturday, October 15, 2016. This interest rate cut will decrease the cost for those people who have taken their loans on floating rate of interest.
Andhra Bank – Current Benchmark Prime Lending Rate or Minimum Interest Rate for Loans
New Delhi (Delhi, India), February 22, 2018
Andhra Bank Cuts Benchmark Prime Lending Rate to 13.95%
The Andhra Bank has decreased its Benchmark Prime Lending Rate (BPLR) by 0.05 percent, or 05 basis points with effect from Saturday, October 15, 2016.
Andhra Bank has revised its Benchmark Prime Lending Rate for home loans, personal loans and consumer loans from 14.00 percent to 13.95 percent per annum.
Andhra Bank uses Benchmark Prime Lending Rate for determining the interest rates on home loans and advances sanctioned up to June 30, 2010.
Andhra Bank has also reduced its Base Rate (BR) or the minimum lending rate from 9.70 percent to 9.55 percent per annum with effect from Sunday, October 01, 2017.
Andhra Bank determines its interest rates on all loans and advances, including consumer loans, lent until March 31, 2016 with reference to Base Rate from July 01, 2010 onwards.
Andhra Bank’s current interest rate cut will decrease the cost of funds for those people who have taken their home loan advances on floating rate of interest. However, this interest rates revision will not affect the Andhra Bank’s fixed rate customers, as their contracted rates will remain unchanged.
Historical Data for Andhra Bank’s Benchmark Prime Lending Rate (BPLR)
October 15, 2016 BPLR: 13.95%
September 29, 2015 BPLR: 14.00%
June 11, 2015 BPLR: 14.25%
August 19, 2013 BPLR: 14.50%
July 22, 2013 BPLR: 14.25%
March 01, 2013 BPLR: 14.50%
May 01, 2012 BPLR: 14.75%
August 01, 2011 BPLR: 15.00%
July 11, 2011 BPLR: 14.50%
Historical Data for Andhra Bank’s Base Rate
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%
Andhra Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Andhra Bank