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.