ICICI Bank indicates null effect of base rate on old home loans
By Joseph Samson
Jul 6, 2010
Print    Email    RSS   

The largest private sector lender, ICICI Bank has indicated that with base rate setting foot in the banking system from 1st July 2010, there would not be any effect on the existing home loan borrowers unless they themselves choose to switch to the base rate system of lending.

"As far as existing borrowers under the present BPLR regime are concerned, the interest rate will run till maturity. But if they want to shift under the base rate, then only there will be a change," ICICI Bank CFO N S Kannan said.

ICICI Bank follows only HDFC Bank and State Bank of India in housing finance business in India.

It has fixed the base rate, the minimum lending rate, at 7.50 per cent effective from July 1.

He also added that the final lending rate would also not face a drastic change. The final rate charged to borrowers will remain more or less the same, he said.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Get rid of your home loan faster
Save tax with ELSS
Top up loans: toppings on your home loan
What should you do if interest rates are...
Home Loans: How to reduce your floating rate

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive