Home loans at floating rates
The RBI has suggested that banks must effect any change in floating rate loans only at the agreed-upon reset date. This is aimed at ushering in transparent and appropriate pricing of credit, according to an RBI working group. This is good news for existing home loan borrowers. What this means is that any change in [...] Continue Reading »
ICICI Bank will offer customers the option to choose a fixed rate of interest for one or two years, after which it will charge applicable floating rate depending on its base rate. The bank’s base rate is at 10% now. Customers opting for the product, which would be available from Friday, would have to pay [...] Continue Reading »
