The public sector lender, Allahabad bank has cut its interest rates on home loan rates for non-resident Indian and person of Indian origin (NRI/PIO) as a part of its festival bonanza offer.
The rate cut would be applicable on housing loans in the range of Rs 30-75 lakh, Allahabad bank said in a statement. The interest rate on such loans would be 10.25 per cent and the festive rates would be effective till March 31, 2013.
Earlier, the bank had launched festival schemes for home loans under- All Bank Aashiana Housing Loan scheme in September, 2012. Under this scheme, the bank has offered concessions in interest rate and processing fees.