ICICI Bank cuts home loan rates by 0.25%
Moneylife Digital Team 14 April 2015
ICICI Bank, India's largest private sector lender, said it cut interest rates on home loan by 25 basis points or by 0.25% for all its existing and new borrowers.
"With this announcement, women as well as applicants from weaker sections will get home loans at 9.85%. The rate will be 9.90% for all others. The reduced rate will be effective from April 14, 2015 for new borrowers," ICICI Bank said in a statement.
The Bank has also reduced its Base Rate (I-Base) by 25 basis points to 9.75% from 10 April 2015. This move will benefit all existing customers of floating home loans, whose home loan rates will be reduced by 25 basis points as per the change in I-Base, it added.  
ICICI Bank also reduced interest rate for fixed rate home loans. Borrowers taking fixed rate home loans with tenure of 10 years for loan amount up to Rs30 lakh will have to pay an interest at 9.90%, the same effective interest rate applicable for floating rate home loans, the Bank said.
Details of new home loan rates effective 14 April 2015
(NOTE: The definition of weaker sections for the purpose of home loans is governed by the RBI guidelines under Priority sector loans.)
5 years ago
Well Explained also like to Add that Gold Loan is profitable on short term (90 days) max period if Redeemed . Unless otherwise Selling Gold is the smarter way to handle the financial Need .
5 years ago
I need home loan 10 lack
5 years ago
I need 10 lak loan for my own business development
Free Helpline
Legal Credit