The ICICI Bank today announced reduction of interest rates by upto 30 basis points for home loans upto Rs 30 lakh in its bid to boost affordable housing in the country, with effect from today onwards for new borrowers.
With this reduction, salaried women borrowers will get home loans at 8.35 per cent and others at 8.40 per cent, ICICI today said.
The MD & CEO of ICICI Bank, Chanda Kochhar, said: “With this announcement, customers of Economically Weaker Section (EWS) and Low Income Group (LIG) can avail the dual benefit of low interest rates from us and the Credit Linked Subsidy under the Pradhan Mantri Awas Yojana.”
“I believe that this initiative, along with the Bank’s expansion of home loan business in tier II cities, will empower a larger section of customers to realise the dream of owning a new home,” she added.
The bank further said that borrowers can also choose to link their home loans with I-MCLR-6 Months or I-MCLR-1 Year, Bureaucracy Today has learnt.