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ICICI Bank cuts India home loan rates by 25-50 bps

Indian private sector lender ICICI Bank has cut its home loan rates by 25-50 basis points for new customers effective immediately, a spokesman said on Friday.

india Updated: Mar 06, 2009 14:23 IST
Reuters
Hindustantimes

Indian private sector lender ICICI Bank has cut its home loan rates by 25-50 basis points for new customers effective immediately, a spokesman said on Friday.

The bank lowered the rate to 9.75 per cent from 10 per cent on home loans of less than 2 million rupees.

The rate on loans for 2-3 million rupees has dropped to 10 per cent from 10.5 per cent, and for above 3 million rupees it has been cut to 11.5 per cent from 12 per cent.