Real estate news on ICICI Bank cuts home loan rates by 25 basis points for all existing and new customers.

Property loans/ Home loans, ICICI Bank Ltd., Home Loan
Posted on Apr 17, 2015

ICICI Bank, Indias largest private sector bank, has reduced its home loan rates by 25 basis points for all existing and new customers. With this, 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 was effective from April 14, 2015 for new borrowers.

The Bank has also reduced ICICI Bank Base Rate (I-Base) by 25 basis points to 9.75% with effect from April 10, 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 'IBase'.

The interest rate for fixed rate home loans has also been reduced. The borrowers taking fixed rate home loans with tenure of 10 years for loan amount upto Rs 30 lack will have to pay 9.90%, the same effective interest rate applicable for floating rate home loans.

ICICI Bank is Indias largest private sector bank with consolidated total assets of $124.76 billion at March 31, 2014. ICICI Banks subsidiaries include Indias leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms.

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