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BRIEF-ICICI Bank slashes home loan rates by up to 30 basis points
May 15, 2017 / 9:49 AM / 6 months ago

BRIEF-ICICI Bank slashes home loan rates by up to 30 basis points

May 15 (Reuters) - ICICI Bank Ltd

* Says icici bank slashes home loan rates by upto 30 basis points

* Says reduced rate will be effective from May 15, 2017 for new borrowers

* Says borrowers can also choose to link their home loans with I-MCLR-6 months or I-MCLR-1 year Source text: [India’s largest private sector bank by consolidated assets, today announced reduction of interest rates by upto 30 basis points for home loans upto Rs 30 lakh in its bid to boost affordable housing in the country. With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried women borrowers will get home loans at 8.35% and others at 8.40%. In both these cases, the reduction in interest rates is 30 basis points from the previous rates. Customers taking home loans in the affordable segment will also have the option to select the type of interest rate. They can enjoy the benefit of floating interest rate or a fixed interest rate for the initial two/three years followed by floating rate. Further, borrowers can also choose to link their home loans with I-MCLR-6 Months or I-MCLR-1 Year. The Bank is the first to offer such flexibility to customers. The reduced rate will be effective from May 15, 2017 for new borrowers] Further company coverage:

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