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Updated: March 5, 2010 00:11 IST

Private banks raise lending rates

PTI
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ICICI Bank withdrew its special home loan scheme, under which it offered home loans for 8.25 per cent fixed rate for two years. Photo: K.K. Mustafah
The Hindu ICICI Bank withdrew its special home loan scheme, under which it offered home loans for 8.25 per cent fixed rate for two years. Photo: K.K. Mustafah

ICICI Bank, Kotak Mahindra Bank and HDFC Bank have hiked their lending rates in key segments such as auto and housing, signalling a rising rate regime going forward.

State-run banks, however, have not followed suit.

Simultaneously, two private sector players, ICICI Bank and mortgage lender, HDFC, also withdrew their limited period special home-loan offers or ‘teaser' schemes, under which customers could avail themselves of housing loans at rates as low as 8.25 per cent.

ICICI Bank announced up to 50-basis point increase in its auto loan rates effective Friday.

HDFC Bank also raised its auto loan rates by 50 to 100 basis points with immediate effect while Kotak Mahindra Bank increased its home loan rates by half a per cent.

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