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ICICI's home loans of Rs 20-L and below cheaper by 1.5 pc
Published on Sat, Dec 06, 2008 at 15:20, Updated on Sat, Dec 06, 2008 at 16:53 in 
Tags: CHAIN REACTION: The ICICI bank has decided to interest rate for home loans of Rs 20-lakh and below to 11.5 per cent.
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Mumbai: Private sector lender, ICICI Bank, has reduced its interest rate for home loans of Rs 20-lakh and below to 11.5 per cent.
"We have revised our interest rate by 1.5 per cent from 13 per cent to 11.5 per cent," an ICICI Bank spokesperson said.
This cut will, however, be applicable for only new home loans, the spokesperson said.
"Priority sector lending has always been one of our key focus areas and we have a differential offering for these customers.
This is our pricing to promote the priority segment and offer affordable housing," he added.
The move comes after India's central bank reduced the repo rate and reverse repo rate by 100 basis points each.
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URBANEYE
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The reduction of repo rate is a welcome step for home aspirants. But i do not see much logic in
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I think RBI should have some regulation on the private banking too. These banks always announce rate cut for new
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This news gives a lot of hope for common man; but as with any other issue in India, the reality
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Finally ICICI Bank reduce home loans rates, how about existing users. When they are increasing irresptive of new/existing the will
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I think RBI should regulate these cheater banks who for the sake of business reduce the rates only for prospect
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