Sunday, December 7, 2008

ICICI Bank reduces interest rates on home loans to 11.5 per cent from 13 per cent, for new loans below Rs 20 lakh

The rates will be available for new loans and existing loans will continue to be charged at the earlier rates as the bank has made no change in its prime lending rate.

ICICI hopes the move to help revive demand for property.

Does ICICI's "move" motivate you to book a flat?

From Ravi Karandeekar's Pune Real Estate Market News Blog

To me it is as good as PBAP Mega Property Exhibition Daydream. I think, RBI is more concerned about NPAs than growing inventory of unsold flats. Please, share your views in the comments. (Comments Policy)

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1 comment:

  1. Why the rate cut is applied to only new customers? Have old customers made any mistake by taking loan from them?

    I don't understand the policies of this bank. Few months back, this bank increased the interest rates of home loans to only new customers by 1%, when all PSU banks reduced their rates. Lets see the performance of the bank after Mr. Kat retires in few days.

    Ravi your views please.