One of India's largest private sector banks, ICICI Bank, is providing home loans at lower interest rates as part of the festive season, in order to attract more customers during this time of the year. The special festive season interest rates will be applicable till Dec 31, 2012.
The bank issued a statement to this effect which said that floating rate home loans sanctioned during the campaign will be provided at 10.25 percent for loans up to Rs. 30 lakhs and at 10.50 percent for loans above Rs. 30 lakhs and till Rs. 3 crore.
Home loans charged at fixed interest rates will also carry the same rates for one and two year terms. For fixed rate home loans of three years tenure, interest at the rate of 10.50 percent for loans up to Rs. 30 lakhs and 10.75 percent for loans more than Rs. 30 lakhs and till Rs. 3 crore, will be charged.