ICICI Bank hikes home loan rates, quietly
ICICI Home Finance Co (I-HFC), the home-loan arm and subsidiary of ICICI Bank, has increased the interest rate on its new home loans by 1 percentage point .
The bank's floating rate loan has been raised from 12 per cent to 13 per cent, while its fixed rate loan stands at 16.5 per cent.
These rates are the highest in the industry, but will not be applicable to existing customers.
The country's largest home loans provider increased rates on October 10, without making any formal announcement. The rate hike was discovered by some customers who went to I-HFC to take a home loan.
"We were not sent any mail as the bank has not increased the benchmark prime lending rate but has increased the margin," said a direct sales associate (DSA) of ICICI Bank.
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To read the ePaper, visit: http://epaper.hindustantimes.com
The bank's floating rate loan has been raised from 12 per cent to 13 per cent, while its fixed rate loan stands at 16.5 per cent.
These rates are the highest in the industry, but will not be applicable to existing customers.
The country's largest home loans provider increased rates on October 10, without making any formal announcement. The rate hike was discovered by some customers who went to I-HFC to take a home loan.
"We were not sent any mail as the bank has not increased the benchmark prime lending rate but has increased the margin," said a direct sales associate (DSA) of ICICI Bank.
To read the full article, click here..
To read the ePaper, visit: http://epaper.hindustantimes.com
Labels: American Express Bank, announcement, customers, DSA, home loans, ICICI, ICICI Home Finance Co, rate hike
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10:48 AM
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