“We have noticed that in the last 12-18 months, customers held back on the spends and there is a lot of pent-up demand that has built up in the system,” said Anup Bagchi, Executive Director, ICICI Bank. “In the past few months, the macro indicators reveal that there is a clear rise in consumption and buying patterns. To support this demand and overall economic growth during the upcoming festive season, we are offering a comprehensive bouquet of offers, discounts and cashbacks for our customers,”
Meanwhile, private lender
too announced home loans at 6.7% interest rate for a limited period. The 90 days offer from the Bank, provides an additional 0.05% benefit (interest rate at 6.65%*) for prospective salaried women home buyers.
Under this offer, salaried home buyers can enjoy flexible loan tenure of up to 35 years at affordable EMI options and zero prepayment charges with minimal documentation. The offer is applicable for home loans for property purchase as well as balance transfers from other lenders.
“Given our focus on further building the retail book, home loan is a segment we are looking at expanding and envisage growing the book size by 2X over the next three months,” said Prashant Kumar, Managing Director & CEO, YES BANK.
Foreign lender HSBC too announced that it has reduced interest rates on home loans by 10 basis points from 6.55% to 6.45%. The special will be effective from 1st October 2021 to 31 December 2021.
“We believe this reduction in the home loans rates will help reduce the interest burden of customers and make homeownership more affordable,” said Raghujit Narula, Head Wealth and Personal Banking, HSBC India.
