ICICI Home Fin cuts interest rate by 0.25 per cent

Mumbai, Jan 4: ICICI Home Finance Company on Friday cut interest rate by 0.25 per cent on its key products with effect from January 7.
The company also announced a reduction in its processing and administration free to 1 per cent of the loan amount from 1.8 per cent for resident Indians and to 1.25 per cent from 2 per cent for non-resident Indians.

The above change would be effective from January 10 until which time the customers will continue to avail of the special offer fee of only 0.8 per cent. The new home loans for residents with a tenor of one to five years were 10.25 per cent (10.50 per cent), for 11-20 years is 12 per cent (12.25 per cent). For NRIs with a tenor of one to five years the new rate stood at 10.25 per cent (10.50 per cent) and six to 10 years at 11.75 per cent (12 per cent), the statement added.

— PTI