CHENNAI: Allahabad Bank has reduced the interest rate on housing loans by 25 basis points for both floating and fixed term loans up to Rs. 20 lakhs, classified under priority sector, on all maturities with effect from April 1 on all fresh sanctions. The minimum interest on housing loans for five year period will be 9.5 per cent and the maximum would be 10.5 per cent for a period of 15 to 25 years in PLR linked loans. — Corporate Reporter