Andhra Bank slashes PLR 75 bps

Andhra Bank has reduced its benchmark prime lending rate (PLR) by 75 basis points, from 14 per cent to 13.25 per cent.

The revised rate, which will come into effect from November 10, is applicable to all loans linked to PLR, including loans given for housing, education and vehicles.

The bank is also watching closely the position on the deposit front and a decision to bring down deposit rates will be taken shortly, Chairman and Managing Director R S Reddy, stated in a press release here on Thursday.