ICICI Bank cuts home loan rate by 0.3%

Private sector player ICICI Bank slashed home loan rate by up to 0.3 per cent for loans of up to Rs 30 lakh, bringing it in line with the country’s largest lender SBI.

ICICI Bank said in a statement that it has reduced interest rates by up to 30 basis points for home loans up to Rs 30 lakh in its bid to boost affordable housing.

With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry, the country’s largest private sector lender said.

Salaried women borrowers will get home loans at 8.35 per cent and others at 8.40 per cent, it said.

Last week, State Bank of India had reduced its affordable home loan rates by up to 25 basis points, offering a lower rate of 8.35 per cent to new women borrowers.

(Agencies)

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