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Festive offer from ICICI Bank

ICICI Bank has announced a “festival pricing” for its home loans to attract new customers. Under this offer, the bank is offering floating rate home loans at 10.25 per cent for a loan amount below Rs.30 lakh and 10.50 per cent for loans above Rs.30 lakh and upto Rs.3 crore.

The same rate of interest is applicable for fixed rate home loans for one and two years fixed tenures. “For a fixed rate loan of three years tenure, the offering is at 10.50 per cent for loans below Rs.30 lakh and 10.75 per cent for loans above Rs.30 lakh and upto Rs.3 crore,” ICICI Bank said.

This special festival pricing was valid for sanctions till December 31, 2012, it added.

However, State Bank of India (SBI), which is offering home loans at 10 per cent has no plans to offer any festive offers. Since lowering of interest rates, home loan applications had doubled, said SBI Managing Director A. Krishna Kumar.

Vijaya Bank cuts home, car loan rates

PTI reports from New Delhi:

Vijaya Bank has reduced home and car loan rates by up to 0.8 percentage point to cash in on festive fervour. The bank has also waived processing fee for housing and car loans availed between October 1 and January 31, 2013.

Interest rate on home loans up to Rs.30 lakh with a maturity period up to 10 years is available at 10.50 per cent against 10.75 per cent earlier. The base rate or the minimum lending rate of the bank is 10.45 per cent.

Vehicle loan was available at the rate of 11 per cent for a repayment period of seven years, he said. Besides, the bank has introduced special fixed deposit scheme for one-year period.

The interest rate on V-Vaibhav is 9.30 per cent.

The bank has also launched V-Samman, a term deposit targeted at senior citizens with an interest rate of 9.95 per cent for one-year period.


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Printable version | Jan 28, 2022 8:31:25 PM | https://www.thehindu.com/business/companies/Festive-offer-from-ICICI-Bank/article12553769.ece

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