India’s largest private sector lender, ICICI Bank has unveiled new home loan product effective from August 20, 2009.
As per the new scheme, home loans of up to Rs 20 lakh will now be available at 8.75% while the lender will charge 9.25% and 9.75% for loans of Rs 20-Rs 50 lakh and above Rs 50 lakh, respectively.
Recently, other major lenders like State Bank of India (SBI) and Housing Development Finance Corporation (HDFC) have also launched similar kind of products to attract the borrowers during the festive season.