ICICI Bank says new home loan scheme not to attract higher provisioning
By Joseph Samson
Aug 26, 2011
Print    Email    RSS   

Private sector lender ICICI Bank has indicated that with the introduction of its new fixed rate home loan scheme, there would be no requirement for increased provisioning norms.

Increased provisioning requirements have been directed by Reserve Bank of India for all teaser loan schemes.

ICICI Bank has clarified that the new loan scheme is not a teaser loan.

"Additional provisioning is not required on this product because the fixed rate offered is similar to the current floating rate on our other home loans," said a spokesperson of the bank.

"The product that we have launched basically gives a customer the option to lock-in into a fixed interest rate for one year or two years. It is not lower than the rate applicable on the floating rate loan we are offering now," said MD and CEO of the bank, Ms Chanda Kochhar.


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

 Select a product:

Complete Guide to the Home Loan Process in...
Carnival of Indian Personal Finance Blogs #3
Six tips to choose your home loan lender
Factors to Evaluate before opting for Home...
Top up loans: toppings on your home loan

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