ICICI Bank Home Loan Rate
ICICI Bank Home Loan Rate
The increased lending rate by RBI has made the banks to hike the interest rates to the consumers, this has made it difficult for consumers to plan their investments and reckon the profitability out of their property investments.
ICICI bank has raised the loan interest to 11-12 percent for floating rate and additional 2 percent i.e. 13-14 percent for fixed rate. This used to be 6.75 – 9.5 near around 2 years back. With property rates increasing 300% a year and now interest rates nearly doubling the actual rates has made home loans not so attractive for consumers with average income levels.
To make is worst – the battle against combating inflation will further make the loan rates go higher.