ICICI
Bank increases lending rates
Mumbai: ICICI Bank has hiked its floating reference
rate by one per cent for consumer loans, including home
loans, with effect from March 31.
It
also announced an increase of one per cent in its Benchmark
Advance Rate, a release here stated.
The
revised FRR will be 12.75 per cent per annum as against
11.75 per cent at present and the revised I-BAR will be
15.75 per cent per annum payable monthly as against 14.75
per cent at present.
For
existing floating rate customers, the increase in FRR
by one per cent will be effective from April 1, 2007.
Existing fixed rate customers, whose loans are fully disbursed,
will, however, not be impacted by the increase and their
contracted rates will remain unchanged, the bank stated.
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