Andhra bank reduces loan interest rates

Andhra Bank has reduced interest rates on vehicle loans and personal loans during the festival season.

The vehicle loans sanctioned up to January 31, 2008 would have an effective rate of 12.75 per cent against current rate of 13.25 per cent. On vehicle loans for women, there will be a further one percentage reduction.

The interest rate on personal loans was also reduced by 50 basis points and the effective rate now stands at 15.50 per cent.