Andhra Bank has reduced the interest rate on housing loans to 8.75 per cent from the existing 9.5 per cent up to Rs 75 lakh.
Above Rs 75 lakh, the interest has been fixed at 8.85 per cent, down from the present 9.75 per cent per annum, according to a press release.
The revised rates of interest will be applicable on housing loans sanctioned on or after January 4, 2017.
The Hyderabad-headquartered bank had waived the processing charges on housing and vehicle loans till March 31, 2017.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.