13th Jan 17 ICICI Bank cuts base rate by 0.5 percent
ICICI Bank has reduced its base rate by 5 basis points to 9.25 percent as compared to 9.30 percent earlier. The rate is effective from 3rd January, 2017.
12th Jan 17 ICICI Bank successfully executes digitized invoice discounting transaction to offer low cost working capital loans to MSMEs
ICICI Bank has announced a successful execution of digitized invoice discounting transaction on Receivables Exchange of India (a TReDS exchange). The bank will operate as a financier in RXIL and offer low cost working capital loans to SMEs through invoice discounting. The initiative is expected to improve access to low cost financing for MSMEs.
03rd Jan 17 ICICI cuts MCLR by 70 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rates to 8 and 8.10 percent respectively. The revised MCLR for six months now stands at 8.15 percent as compared to 8.85 percent earlier. Similarly, the bank has reduced its one year MCLR to 8.20 percent as compared to 8.90 percent earlier. The new rates are effective from 3rd January, 2017.
03rd Jan 17 ICICI Bank reduces home loan rates by 45 basis points
ICICI Bank of India has reduced its home loan interest rates by 45 basis points for new home loan buyers. The new home loan rate for women up to loan amount of Rs. 75 lakh now stands at 8.65 percent as compared to 9.10 percent earlier. Similarly, home loan rates for other borrowers up to loan amount Rs. 75 lakhs are reduced to 8.70 percent. The rates are effective from 3rd January, 2017.
29th Dec 16 ICICI Bank cuts fixed deposit rates by 10 basis points
ICICI Bank has reduced its fixed deposit rates for deposits with tenure up to ten years by 10 to 25 basis points. The deposit rates for one year and two year fixed deposits are reduced to 6.9 and 7 percent respectively. Similarly, rate for three year fixed deposit is now 6.75 percent. New rates are effective from 28th December, 2016.
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