Andhra Bank reduces interest on loans

Ongole: The Ongole zonal manager for Andhra Bank, P Ramakrishna announced in a statement that the bank has reduced interest rate on the loans. He announced that the bank has shown a good business development and reported a profit of Rs 52 crore in the quarter ending in June 2019.

So, he said that the bank has reduced 25 basis points for the home loan customers and the reduction will be helpful for personal and commercial loan customers also. He said that the reduced interests will come into force from August 16 and the Ongole region is also implementing the interests linked with the repo rate for the deposits and loan schemes.

Ramakrishna announced that they are organising a customer meet in Ongole on August 13 and will explain about the services being offered and collect feedback from them. He asked the customers to utilise the opportunity. The zonal office AGMs N Ganeshu, P Simhachalam and others also participated in the meeting.