The Hyderabad based Andhra Bank had organized a two day home loans mela and property show in Hyderabad on January 19 and January 20. The mela generated business worth Rs. 40 crore for the bank.
The bank issued a release on this matter, which said that in the mela the public sector lender offered home loans at 10.50 percent interest rate for loans above Rs. 10 lakh but below Rs. 30 lakh and at 10.75 percent interest rate for loans above Rs. 30 lakh.
Talking about the loan mela, the Director of Andhra Bank, Mr. Venkata Ramana Reddy said that loan applications across 169 branches of the bank were approved on-the-spot.