Syndicate Bank has lowered interest rate on SyndNivas, its housing loan scheme, with effect from Tuesday (July 15).

The revised interest rates on housing loans on floating rate and fixed rate schemes with repayment period up to five years would be 8.25 per cent, a bank press release said.

The revised interest rates on housing loans under fixed and floating rate schemes for different maturities and quantum of loans are:

• Up to 5 years: fixed rate-8.25, floating rate-8.25;
• Above 5 to 10 yrs: fixed rate-9.00, floating rate-8.75;
• Above 10 to 20 yrs: Up to Rs 10 lakh -- fixed rate 9.25, floating rate 9.00; over Rs 10 lakh -- fixed rate-9.50, floating 9.25.