Hyderabad based, Andhra Bank has revised its benchmark lending rates by 25 basis points downwards, with effect from July 25, 2009.

The revised rates are at 12 percent from the earlier 12.25 percent.

The revised lending rates will be applicable on all new loan asset accounts and existing accounts with floating interest rate linked to benchmark lending rates.

Earlier the bank reduced its BPLR in March 09, by 25 basis points to 12.5%, with effect from April 1st , 2009.

The public sector lender has set a business target of Rs 150-lakh crore business by September 2010 and has been aggressively strategising its marketing and operation approach. The total business done by the bank stood at Rs.1,03,818 Crore, as on March 31, 2009, with a growth of 23.60 percent. Recently the bank adopted a new logo and corporate slogan in coherence with its plans for pan- India expansion.

The bank has also allianced with automaker Tata Motors for financing its range of passenger vehicles, with an additional 50 basis points concession on the lending rates for women applicants.

Earlier, the bank introduced a home loan scheme, to offer home loans at a fixed rate of 8 percent for the initial year, applicable from May 25 to September 30, 2009.