ICICI Bank Home Loan Interest Rate

The home loan market war intensified with ICICI Bank offering a fixed rate of 8.25% for two years. The scheme is open between December 1, 2009, and January 31, 2010. The first disbursement of the loan must be availed of before March 31, 2010, the bank clarified. ICICI said the rate is applicable to every segment. From the third year onwards the bank would charge floating interest rate depending upon the then prevailing floating reference rate

ICICI bank’s retail loan portfolio has fallen to Rs86, 400 core in the second quarter of the current fiscal from Rs1, 22,500 crore in the comparable period last fiscal. Tata home loan rates range between 9 and 9.75%. A realty analyst from a domestic brokerage said private banks will have to increase rates by 25-50 basis points before the ICICI Bank norm on non-performing loans kicks in next year.

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