New Delhi: ICICI Bank on Friday announced a reduction in home loan interest rate to 6.70 per cent. The bank issued a statement here and said that the revised interest rate is the lowest in 10 years by the bank and the new interest rate will be effective from March 5 itself. Customers can avail this interest rate for a home loan up to Rs 75 lakh, while for loans above Rs 75 lakh, the interest rates are pegged at 6.75 per cent. These revised rates will be available till 31 March.
ICICI said that those who are not customers of the bank, can apply for a home loan in a hassle-free way through the Home Buyers Bank website and mobile banking platform ‘iMobile Pay’ or they can get one at their nearest ICICI Bank branch Can also have a convenient digital experience. Apart from this, customers can also get instant approval of their loan digitally.
ICICI Bank Securities Assets Head Ravi Narayanan said, “We are seeing a surge in demand from consumers who want to buy homes for their own consumption over the last few months. We believe that given the prevailing low interest rates, this is an opportune time for a person to buy their dream home. It will be very convenient for customers of any bank to take a home loan with us. We have fully digitized home loan procedures, including immediate approvals. ”
