After SBI, HDFC, Now ICICI Bank Slashes Interest Rate on Home Loans | Check Details Here
New Delhi: Days after the SBI and HDFC reduced interest rate on home loans, lending major ICICI Bank on Friday slashed its home loan interest rate to 6.70 per cent. Issuing a statement, the bank said that the revised interest rate — the lowest in 10 years by the bank - has come into effect March 5.
In the statement, the bank further added that the revised interest rate can be availed by clients for home loans up to Rs 75 lakh. Apart from this, for loans above Rs 75 lakh, interest rates are pegged at 6.75 per cent onwards. The bank also added that these revised rates will be available till March 31.
“We see resurgence in demand from consumers, who want to buy homes for their own consumption, in the past few months,” said Ravi Narayanan, Head – Secured Assets, ICICI Bank.