ICICI Bank slashes home loan rate by 10 bps

ICICI Bank has reduced home loan rates by upto 10 bps for loan upto Rs 7.5 million. The scheme for only new salaried individual customers will be offered till 30 June 2014. Home loan rate upto Rs 7.5 million will be 10.15% or 15 bps points over the base rate.

Meanwhile, for self employed consumers home loan rate remains the same at 10.25%. Also, for loans above Rs 7.5 million, the bank will continue to charge between 10. 5% to 11.25%.

With this new rate, ICICI Bank's home loan rate upto Rs 7.5 million is now at par with that of State Bank of India (SBI). SBI however, charges 10.30% for loans above Rs 7.5 million.

For women borrowers, the rate for home loan upto Rs 7.5 million is 10.10%. The revised rates are applicable for new customers of ICICI Bank only.

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