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ICICI Bank cuts home loan rates to 7.5% till Nov 26
Mumbai, Nov 10: ICICI Bank has reduced its floating interest rate for home loans by 0.25 to 0.5 per cent effective from Tuesday and has offered a uniform rate of 7.5 per cent for all tenors till November 26.
Mumbai, Nov 10: ICICI Bank has reduced its floating interest rate for home loans by 0.25 to 0.5 per cent effective from Tuesday and has offered a uniform rate of 7.5 per cent for all tenors till November 26.
The revised rates for loans up to five years would be 7.5 per cent (earlier 7.75 per cent) while that for 6-20 years would be 7.75 per cent, the bank said in a release here today.
In case of 6-20 years, two brackets of 6-10 (eight per cent) and 11-20 years (8.25 per cent) have been merged.
ICICI Bank has also announced 0.5 per cent reduction in its home prime lending rate. This would ensure that existing floating rate customers could also take benefit of this scheme, it added.
"With the ongoing reduction in our cost of funds and the continuing soft interest rates in the system, we are pleased to offer a corresponding benefit to both our existing and new customers," ICICI Bank executive director Chanda Kocchar said.
On the special festival offer, it said customers availing the bank's balance transfer scheme during this period (till November 26) would also benefit from zero fees for home loans transferred to ICICI Bank from their existing bank / housing finance company. Bureau Report
The revised rates for loans up to five years would be 7.5 per cent (earlier 7.75 per cent) while that for 6-20 years would be 7.75 per cent, the bank said in a release here today.
In case of 6-20 years, two brackets of 6-10 (eight per cent) and 11-20 years (8.25 per cent) have been merged.
ICICI Bank has also announced 0.5 per cent reduction in its home prime lending rate. This would ensure that existing floating rate customers could also take benefit of this scheme, it added.
"With the ongoing reduction in our cost of funds and the continuing soft interest rates in the system, we are pleased to offer a corresponding benefit to both our existing and new customers," ICICI Bank executive director Chanda Kocchar said.
On the special festival offer, it said customers availing the bank's balance transfer scheme during this period (till November 26) would also benefit from zero fees for home loans transferred to ICICI Bank from their existing bank / housing finance company. Bureau Report