India's ICICI Bank cuts home loan rates for festive period


MUMBAI, Oct 11 (Reuters) - India's ICICI bank hascut its floating rate on home loans by up to 100 basis pointsuntil December end, the country's second-largest lender said onThursday.

For loans up to 3 million rupees ($56,500) the bank willcharge 10.25 percent interest, ICICI said. It earlier used tocharge 10.5 percent for loans up to 3 million rupees.

The interest rate for loans between 3 million rupees and 30million rupees will be 10.5 percent, down from 11.5 percent, thebank said, adding the new rates are applicable only for thefestive period that starts in October and ends in December.($1 = 53.1350 Indian rupees)

(Reporting by Aditi Shah; Editing by Anand Basu)

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