06 March,2009 04:10 PM IST | | PTI
India's largest private sector lender, ICICI Bank, has reduced its interest rates on new home loans by 0.25-0.50 per cent with immediate effect.
For priority sector home loans below Rs 20-lakh, the new interest rate will 9.75 per cent as against the earlier 10 per cent, an ICICI Bank spokesperson said.
For loans in the range of Rs 20-30-lakh, the interest rate has been reduced to 10 per cent as against the earlier 10.5 per cent. For loans of above Rs 30-lakh, the interest rate has been reduced to 11.5 per cent as against the earlier 12 per cent.
The reduced rates are applicable only to new home loans, the spokesperson said.
