ICICI Bank on Friday announced a cashback scheme for borrowers who receive sanction for a home loan or transfer of their existing home loan with another lender to ICICI Bank between September 1, 2017 and November 30, 2017.
Under the festival-special scheme, eligible borrowers will be entitled to a cashback of 20% on a minimum spend of Rs 30,000 on their ICICI Bank credit or debit card. The maximum cashback that can be availed under the scheme is Rs 10,000.
On August 21, State Bank of India (SBI) had announced a series of processing-fee waivers for car loans, personal gold loans and personal loans, in addition to an existing waiver on processing fee on takeover of home loans. The bank waived 100% of the processing fee on car loans made up to December 31, 2017 and 50% of the processing fee on personal gold loans up to October 31, 2017. Till September 30, 2017, customers will also get a 50% waiver on processing fees on Xpress Credit, a personal loan product.
Earlier this month, BoM waived processing charges on home and vehicle loans between September 1, 2017 and December 31, 2017.
At present, ICICI Bank’s home loan interest rates start at 8.35% for women and 8.40% for other salaried borrowers.