new delhi stateowned andhra bank has increased the marginal cost of funds based lending rate mclr by 015 per cent to up to 870 per cent for various tenorsthe bank has increased its mclr with effect from august 16 2018 andhra bank said in a bse filingthe mclr for overnight 1 month 3 month 6 month and one year tenors has been raised by 015 per cent each to 815 per cent 820 per cent 840 per cent 855 per cent and 870 per cent respectively the bank saidthe move will make consumer loans such as auto car and home loans costlier for buyersin june too andhra bank had increased the mclr by 005 per cent to up to 855 per cent for various tenorsearlier this month the reserve bank of india for the second time in two months had raised its benchmark interest rate by 25 basis points on inflationary concernsrbi increased repo rate at which it lends to other banks to 65 per centstock of andhra bank was trading 078 per cent higher at rs 3245 apiece on bse