Allahabad Bank cuts home loan rates for NRIs

Allahabad Bank has reduced interest rates on housing loans for non-resident Indian and person of Indian origin (NRI/PIO) under its festival bonanza offer. The reduction in rates would be applicable on loans in the range of Rs 30-75 lakh, said a bank statement. The interest rate on such loans would be 10.25 per cent and will remain effective till March 31, 2013. The bank had, in September 2012, launched festival schemes for home loans under — AllBank Aashiana Housing Loan scheme. Under the scheme, the bank had offered concessions in interest rate and processing fee.

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