Financial Daily from THE HINDU group of publications
Sunday, Nov 10, 2002

Port Info

Group Sites

Money & Banking - Housing Finance

ICICI Bank cuts home loan rates

Our Bureau

MUMBAI, Nov. 9

ICICI Bank has cut its home loan rates by 0.25 percentage point across the board. The rates will change for both the fixed and floating categories effective from today.

The bank has also reduced the ICICI Home PLR to 10.75 per cent from 11 per cent previously. Therefore the benefit of reduced rates will not only be available to new customers, but also existing customers who earlier availed themselves of floating rates, said a press release.

The bank's endeavour is to pass on the benefits of lower cost of funds to its consumers and offer the most favourable rates, in the hope that the reduced rates will attract more customers, said a press release quoting Mr V. Vaidyanathan, Managing Director, ICICI Home Finance.

For loans up to five years the fixed rate is now 10 per cent (10.25 per cent) and the floating rate is 9.25 per cent (9.50 per cent). For 11-15 years the fixed rate is 11 per cent (11.25 per cent) and floating rate is 10.25 per cent (10.50 per cent).

Send this article to Friends by E-Mail
Comment on this article to

Stories in this Section
Forex reserves increase to $ 64.621 billion

ICICI Bank cuts home loan rates
Canara Bank staff strike on Nov 15
CBI case against BoI officials
New CMD for National Housing Bank

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line