ICICI Bank: Cuts Housing Loan Rates..


The ICICI bank on recently said it had decided to extend a scheme where it is offering special rates to new home loan borrowers up to January 31, 2014.

 ICICI Bank has reduced housing loan rates to bring them in line with those offered by HDFC. The ICICI bank has reduced rates by 0.15% to 0.4% basis points and now offers uniform rates for loans up to Rs. 75 lakh.

The ICICI bank  said it had decided to extend a scheme where it is offering special rates to new housing loan borrowers up to January 31, 2014

Earlier, ICICI the bank was offering loans up to Rs. 30 lakh at Rs. 10.4% and loans from Rs. 30 lac to Rs. 75 lakh at 10.65 %.


Under the new rates, loans up to Rs. 75 lakh will be available at 10.25 %, while loans over Rs. 75 lakh will attract 10.5 %. Loans below Rs 15 lakh, which qualify as priority sector, are available at 10.15 %.

Recently, the State Bank of India (SBI) and HDFC brought down interest rates on housing loans. SBI said its reduction in rates was an outcome of the Reserve Bank of India's  (RBI's) decision to hold interest rates.

A unique feature of SBI's rate revision is that it will now offer women borrowers loans up to Rs. 75 lakh at 10.1% as against 10.15% for men. The bank said there was a slight slowdown in home loan disbursements in November, 2013

HDFC, which reduced rates on the same day as SBI, said its discounted rates were available only until January-end, after which it will review its lending rates.



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