Kolkata: Allahabad Bank is all set to slash interest rates by 25 basis points for both floating and fixed term loans of up to Rs 20 lakh on all maturities. The reduction will be effective from April 1 on all fresh sanctions. Consequently, the minimum interest rate on housing loan for a five-year period will be 9.5 per cent per annum, the maximum being 10.50 per cent for 15-25 years in PLR-linked loans.
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