ICICI Bank has announced that it has reduced the home loan interest rate to 6.70 percent. The revised interest rate is effected from 5th March 2021.
Customers can avail of this interest rate for home loans up to Rs 75 lakh. However, for loans above Rs 75 lakh, interest rates are pegged at 6.75 percent onwards. These revised rates will be available till 31st March 2021.
This move comes after State Bank of India (SBI), Kotak Mahindra Bank reduced the interest rates on home loans. The country’s top lender offers home loan interest rates starting from 6.70 percent per annum. While, HDFC bank lowered their home loan interest rates by 5 basis points to 6.75 percent.
The bank has waived the processing fee on home loans till 31st March 2021.