ICICI reduces rates on new home loans by 0.25-0.50 pc

India's largest private sector lender, ICICI Bank, has reduced its interest rates on new home loans by 0.25-0.50 per cent with immediate effect.

India's largest private sector lender, ICICI Bank, has reduced its interest rates on new home loans by 0.25-0.50 per cent with immediate effect.

For priority sector home loans below Rs 20-lakh, the new interest rate will 9.75 per cent as against the earlier 10 per cent, an ICICI Bank spokesperson said.

For loans in the range of Rs 20-30-lakh, the interest rate has been reduced to 10 per cent as against the earlier 10.5 per cent. For loans of above Rs 30-lakh, the interest rate has been reduced to 11.5 per cent as against the earlier 12 per cent.

The reduced rates are applicable only to new home loans, the spokesperson said.

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