| Font Size |
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.
Discuss this story on expressindia forums
|
|
Dear All, Some time we feel there is nothing going to happen here. This ICICI Bank doing it even knowing that it is not fair in the Interest of customer. I too a sufferer in their clutches. RBI
reducing EMI and the existing customers must have purchased the goods which earlier they had deferred in view of increase in EMI due to abruptly hike in rate of interest by these bankers. They are subsidizing the new prospective customers by recovering the higher interest from the existing customers. The prospective customers should be well informed by the media that whatever fate existing customers have today, the same is going to happen with the prospective customers. The common man is already adversely affected from all the corners like the slow down of the economy, fear of job loss, reduction in salary, withhold of promotion / increments, exorbitantly high inflation in daily use items (not reduced even WPI at 3.03%) and over and above these kind of unfair practices by the bankers. I therefore request you to kindly highlight these unfair practices to the higher up in the Govt. /RBI / monitoring agencies / banker if possible so that the justice can be given to the general public.
Dear Editor As everybody knows that in India, media is an important pillar and plays proactive role in bringing the justice to the masses. But, what has happened this time that the atrocities of various bankers could not be curbed till date. You know these bankers like ICICI bank and other banks they are not willing to bring the economy out of slowdown rather forcing to drag it to recession. The Govt. /RBI /other monitoring agencies are also supporting unfair practices of these bankers like not reducing the interest rates of existing customers as they are not taking any action against these bankers. The Govt. is struggling for revival of the economy and offering various stimulus packages but the action of these bankers are negating the effect and rather dragging the economy to deep recession. They could have avoided it and should have worked in tandem with the Govt. by reducing the rate of interest to the existing customers which would have generated positive cash flow by Contd.
Why can't ICICI bank be taken to court for MRTP(mal practices) violations? When rates were going up they upped immediately. Now when rate are going down they don't do any thing? Can any one tell me what is meant by floating rate ?? Rate floats only on whims of ICICI ?? And it floats up only ?not down ? It is simply a honey trap. Is our regulator the RBI and MRTP panel sleeping????
Why can't ICICI bank be taken to court for MRTP(mal practices) violations? When rates were going up they upped immediately. Now when rate are going down they don't do any thing? Can any one tell me what is meant by floating rate ?? Rate floats only on whims of ICICI ?? And it floats up only ?not down ? It is simply a honey trap. Is our regulator the RBI and MRTP panel sleeping????
I am not surprised that these rates are applicable to only new customers.