Mumbai: ICICI Bank has announced reduction of home loan rates by 25 basis points for all existing and new customers. With this announcement, 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 will be effective from April 14, 2015 for new borrowers.
The bank has also reduced ICICI Bank Base Rate 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 "I-Base".
The interest rate for fixed rate home loans have also been reduced. The borrowers taking fixed rate home loans with tenure of 10 years for loan amount upto Rs 30 lakh will have to pay 9.90%, the same effective interest rate applicable for floating rate home loans.
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