India’s major private bank ICICI Bank have entered the interest rate war in the home-loan market with their fixed-cum-floating rate schemes.
ICICI Bank has launched a home-loan scheme under which 8.25% interest rate will be fixed for the first two years. The floating rates will apply after 2 years. These rates will be applicable to loans sanctioned between December 2009 and January 2010. The clients will have to make sure that the first disbursement takes place before the end of March 2010.
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