ICICI toes State Bank line on home loans

Mumbai, Oct. 6: After its larger rival the State Bank, ICICI Bank has also raised its spreads on home loan rates and not passed on the entire benefit of base rate cuts to new borrowers.

In case of both women and salaried borrowers for floating rates, ICICI raised its spreads or mark-up over base rate paid by a borrower by 0.10 per cent. The bank had cut its base rate by 0.35 per cent to 9.35 per cent.

Accordingly, women borrowers opting for loans under Rs 5 crore will have to pay an interest of 9.60 per cent against the earlier 9.85 per cent and salaried borrowers will have to pay 9.65 per cent compared with 9.90 per cent.

The SBI's best offering for women is 9.50 per cent, while for other borrowers it is 9.55 per cent. Non-bank lender HDFC is on a par with ICICI's 9.60 per cent for women and 9.65 per cent for others.

Axis Bank today introduced a new slab for its home loan borrowers of up to Rs 28 lakh. For salaried borrowers, the loans will come at 9.60 per cent, which is 0.10 per cent above its revised base rate of 9.50 per cent.

ICICI Bank

State Bank of India