Andhra Bank reduces the Marginal Cost of Funds based Lending Rate (MCLR) across five tenors ranging from 25 bps top 35 bps.
The five tenors are overnight, one month, three months, six months and one year.
The one year MCLR of the bank effective from September 11, 2017 stands reduced by 25 basis points to 8.40 per cent, Andhra Bank said in a release issued here.