ICICI Bank introduces ‘Saral-Rural Housing Loan’ Scheme for weaker divisions [ Current Affairs ]


About ICICI bank: ICICI stands for Industrial Credit and Investment Corporation of India. This Bank is an Indian multinational banking services and financial services organization. It’s headquarter is in Mumbai, Maharashtra of India.

  • As per 2014 reports, it is the second largest bank in India in terms of resources and market capitalization.

About launching of the scheme:

  • Bank has launched ‘Saral - Rural Housing Loan’ Scheme for weaker divisions of society.
  • The scheme includes new home loan scheme of the bank with special interest rate for people from rural areas including womens as well as weaker divisions.

About the loan:

  • This housing loan will be provided at the ICICI Bank Base Rate which is currently charges 9.70 % for small home loan.
  • Customer can get benefit of this loan for home in the rural areas.
  • The loan includes from five to fifteen lakh rupees for a period of 3 to 20 years and the loan can be taken up to 90 percent of the property value.
  • This scheme will be available in 189 cities across the country.

- Published on: August 11, 2015