Icici Home Loans New Scheme-Fixed 2 yrs rate at 8.25%

Icici Hfc has launched special “Two Year Fixed Rate Scheme” for its
customers. Under this scheme they propose a Two Year Fixed Rate for its
customers with effect from December 03, 2009. This scheme will be applicable
for all new Home Loan Sanctions and Disbursements. The Home Loan rates will be fixed at 8.25% for two years after the disbursemnet has happened.
Under this scheme the below mentioned rates will be applicable
Upto Rs. 20 Lakhs
8.25% Fixed rate of interest for first two years
After 2 yrs
FRR – 4 .00% (8.75% at current rates *)
Loans between Rs.20 Lakhs to Rs. 50 Lakhs
8.25% Fixed rate of interest for first two years
FRR – 3 .50% ( 9.25% at current rates *)
Loans above Rs. 50 Lakhs
8.25% Fixed rate of interest for first two years
FRR – 3 .00% (9.75% at Current rates)
The salient features of this product are as given below:
1. The rate of interest would be fixed for the initial two year period
from the date of first disbursement.
2. Subsequent to the completion of 2 years, the loan will automatically
move to ARHL. The ARHL loan will be benchmarked to ICICI Bank Floating
Reference Rate ( FRR ).
3. The scheme will be offered on sanctions done till January 31, 2010.
It will be valid till March 31, 2010 and the first disbursement of the loan
should be availed on or before this date.
4. While calculating the loan eligibility the rate applicable from
third year onwards will be considered.
5. Repayment for all loans sanctioned and disbursed under this scheme
has to be made through ECS or Auto Debit only.
This is one of the best Home loan schemes launched by Icici in recent times. So do not hold, buy your dream home.
Click For Apply ICICI Home Finance.