ICICI cuts home loan rate by 0.25%
Tribune News Service
New Delhi, April 14
ICICI Bank today slashed home loan rate for both existing and new borrowers by 0.25% joining a rate-cut war initiated by its bigger rivals HDFC and SBI.
Women borrowers and financially weaker sections will now get home loan at 9.85%, while for other borrowers it will be 9.90%.
The cut in the home loan rate is in line with the base rate reduction of 0.25% announced last week as there is no tinkering with spreads on loans.
The country’s largest lender SBI is also offering similar home loan rates effective yesterday.
ICICI Bank said reduction of home loan rates effective today is valid for all existing and new customers.
The interest rate for fixed rate home loans has also been reduced.
Effective April 10, the new base rate or the minimum lending rate is 9.75%.
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