Andhra Bank lowers housing loans rates
Posted on: 05/Jan/2017 5:22:05 PM
Andhra Bank has reduced the interest rates on housing loans. Investments in the banks are increasing after the demonetization of Rs 500 & Rs 1000 notes. In view of this it was expected that the banks will reduce the interest rates on loans. Recently SBI has reduced the interest rates on housing loans.
Now 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. The revised rates of interest will be applicable on housing loans sanctioned on or after January 4, 2017.
Andhra bank had waived the processing charges on housing and vehicle loans till March 31, 2017.
