ICICI Bank offer: Get home loans at 6.7% interest rates, check details

ICICI Bank offer: Get home loans at 6.7% interest rates, check details

Mumbai: ICICI Bank on Friday announced that it has reduced home loan interest rate to 6.70%. The revised interest rate, which the bank claims to be the lowest in 10 years, comes into effect from March 5. Customers can avail of this interest rate for home loans upto Rs 75 lakh. For loans above Rs 75 lakh, interest rates are pegged at 6.75% onwards. These revised rates will be available till March 31, 2021.

Home buyers, including those who are not customers of the bank, can apply for home loan digitally, in a hassle-free manner through the ICICI’s website and mobile banking platform, ‘iMobile Pay’. They can also experience a convenient digitised experience at their nearest ICICI Bank branch. They can also receive instant sanction of their loan digitally.

Ravi Narayanan, Head- Secured Assets, ICICI Bank said, “We see resurgence in demand from consumers, who want to buy homes for their own consumption, in the past few months. We believe that this is an opportune time for an individual to buy his/her dream home, considering the prevailing low interest rates. We believe that with our completely digitised home loan process including instant sanction for customers of any bank, everybody will find it immensely convenient to avail a home loan with us.”

In November 2020, ICICI Bank became the first private sector bank in the country to cross Rs 2 trillion (Rs 2 lakh crore) mark in mortgage loan portfolio. Further, the bank informed during its Q3 results that its mortgage disbursements increased in Q3-2021 over Q2-2021 and reached an all-time monthly high in December 2020.

The bank says it has leveraged Big Data analytics to offer instant loans—fresh loans, top ups and balance transfer–to millions of pre-approved customers, along-with offering instant loan approvals. Additionally, the Bank’s completely digital process allows anyone including customers of other banks to get a sanction letter immediately, via online. 

News Source: DNA India

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