ICICI Bank cuts home loan rate by 25 bps

Private sector lender ICICI Bank has cut its home loan rate by 25 bps for new customers.

The new lending rate stands at 9.65 per cent for new customers. It has raised the spread on home loans by 10 bps to 30 bps. Spread  is the excess lending rate charged over base rate.

The bank on October 1, 2015 cut its base rate by 35 basis points to 9.35 per cent.

(1 basis point is 1/100th of a percentage point)