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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