After State bank Of India and Canara Bank who have reduced their interest rates on home loan , to follow suit ICICI bank has also reduced their home loan rates. ICICI bank is the first private sector bank to make this move.

The new home loan interest rates for customers would be:-

Loan less than Rs20 lakh - 9.75% , compared to 10% previously

From Rs20-30 lakh – 10% , compared to 10.5% previously

For Rs30 lakh and above – 11.5%, compared to 12% previously

However the above rates are only for new borrowers.