ICICI Bank Housing Loan Interest Rates

ICICI Bank Housing Loan Interest Rates

ICICI Bank is the 3rd largest Player in Housing Loan Segment. There offered interest rates & schemes are as follows:

One year fixed rate 

slab	Fixed rate for the first 12 months	Floating rate pricing from second year onwards
Upto 25 Lakhs	10.50 %	I-Base + 0.50 % (10.50%)
25 Lakhs to 75 lakhs	11.00 %	I-Base + 1.00 % (11.00%)
Above 75 Lakhs	11.50 %	I-Base + 1.50% (11.50%)

Two year fixed rate 

Ticket size slab	Fixed rate for the first 24 months	Floating rate pricing from Third year onwards
Upto 25 Lakhs	10.75%	I-Base + 0.50 %(10.50%)
25 Lakhs to 75 lakhs	11.25%	I-Base + 1.00%(11.00%)
Above 75 Lakhs	11.75%	I-Base + 1.50%(11.50%)

Three year fixed rate 

Category	Fixed rate for the first 36 months	Floating rate pricing from forth year onwards
Upto 25 Lakhs	10.75%	I-Base + 0.50 %(10.50%)
25 Lakhs to 75 lakhs	11.25%	I-Base + 1.00%(11.00%)
Above 75 Lakhs	11.75%	I-Base + 1.50%(11.50%)

ICICI Bank floating rate: 

Ticket Size slab	Rate	Effective rate of interest
Upto 25 Lakhs	I-Base + 0.50%	10.50 %
25 Lakhs to 75 lakhs	I-Base + 1.00%	11.00 %
Above 75 Lakhs	I-Base + 1.50%	11.50 %

ICICI Banks current I-Base Rate is 10%. Floating rate calculated above is as per the current I-Base Rate & will change as per the change of I-Base rate.

Rate of Interest of HDFC for Plots

Rate of Interest of HDFC for Plots

HDFC is having different rate of Interest for Plots

Land loans	Fixed rates%	Variable rates%	Basis%
Upto and including Rs 30 lacs	12.50	11.00	RPLR - 5.50
Rs.30.01 lacs to Rs.75 lacs	12.75	11.25	RPLR - 5.25
Over Rs.75 lacs	13.25	11.75	RPLR -4.75

(ONLY for plots being purchased from development authorities and good developers within city limits)

It also have a products of fixed for some period

Under the option A of the product, the fixed rate will be available up to 30th November 2014 while under the option B the Fixed rate will be available up to 30th November 2016. After the completion of the fixed rate period, the loan will switch to HDFC’s ARHL product, linked to HDFC’s RPLR. The rate of interest applicable during the ARHL period of the loan shall depend on the RPLR at the time of the switch of the loan to ARHL. 

Applicable Rates (Monthly Rest Basis)	Fixed rates (in % pa)
	Option A	Option B
Upto Rs 30 lakhs	11.00	11.50
Rs.30.01 lacs to Rs.75 lakhs	11.50	11.75
Over Rs.75 lakhs	12.00	12.00

Rate of Interest of HDFC

Rate of Interest of HDFC 

HDFC is the 2nd in position in business of Housing Finance. It is dedicated for doing housing finance only. HDFC is having the 1st position  as housing finance company in India. HDFC has following rate of interest at present:

Applicable Rates (Monthly Rest Basis)	Fixed rates%	Variable rates%	Basis% RPLR
Upto and including Rs 30 lacs	12.25	10.75	RPLR - 5.75
Rs.30.01 lacs to Rs.75 lacs	12.50	11.00	RPLR -5.50
Over Rs.75 lacs	13.00	11.50	RPLR - 5.00

The above rates are subject to change without notice.

Its also have two other product namely Option-A & Option B. Under the option A of the product, the fixed rate will be available up to 30th November 2014 while under the option B the Fixed rate will be available up to 30th November 2016. After the completion of the fixed rate period, the loan will switch to HDFC’s ARHL product, linked to HDFC’s RPLR. The rate of interest applicable during the ARHL period of the loan shall depend on the RPLR at the time of the switch of the loan to ARHL. 

Applicable Rates (Monthly Rest Basis)	Fixed rates (in % pa)
	Option A	Option B
Upto Rs 30 lakhs	10.75	11.25
Rs.30.01 lacs to Rs.75 lakhs	11.25	11.50
Over Rs.75 lakhs	11.75	11.75

Rate of Interest of SBI

Interest Rate of Leading Home financiers 

Now in few posts we will discuss about the various products & Interest rates of the Banks/ Housing finance companies in India. Their Discussion comes according to their rank in business of Hosing loan.

Let us begin with the market leader State Bank of India

All Rate are floating only

(Base Rate= 10.00% p.a.)

Loan Amount	Linkage with Base Rate over the tenor of the loan	Effective Rate
Upto Rs. 30.00 lacs	0.75% above Base Rate	10.75% p.a.*
Above Rs. 30.00 lacs and upto Rs. 75.00 lacs	1.00% above Base Rate	11.00% p.a.*
Above Rs. 75.00 lacs	1.25% above Base Rate	11.25% p.a.*
No fixed rate option in any limit bracket.

* A concession of 0.25% in card interest rate over the tenor of Home Loan is available under ongoing special Home Loan campaign upto 31.03.2012.

CITY WISE HOUSING PRICE INDEX IN INDIA (UPDATING UPTO QUARTER OCTOBER- DECEMBER 2011)

Source: NHB CITY WISE HOUSING PRICE INDEX IN INDIA (UPDATING UPTO QUARTER OCTOBER- DECEMBER 2011) CITIES 2007 Index Jan-June 2008 Index July- Dec 2008 Index Jan-June 2009 Index July-Dec 2009 Index Jan-Mar 2010 Index Apr-Jun 2010 Index July-Sept 2010 Index Oct-Dec 2010 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Hyderabad 100 96 92 65 81 81 82 87 87 83 91 84 79 Faridabad 100 100 121 139 145 154 152 170 176 165 220 206 218 Patna 100 103 100 107 119 127 124 148 146 146 146 141 140 Ahmedabad 100 106 100 127 128 113 131 141 164 165 169 163 167 Chennai 100 104 95 120 143 164 183 210 214 218 248 271 296 Jaipur 100 119 115 71 63 66 61 63 69 67 64 65 64 Lucknow 100 103 102 104 119 112 133 148 152 157 160 154 165 Pune 100 101 97 103 117 124 135 140 141 148 150 169 184 Surat 100 101 98 111 123 109 136 128 133 128 149 139 152 Kochi 100 106 95 90 83 79 83 97 101 86 107 97 82 Bhopal 100 139 151 139 162 158 153 166 173 167 224 208 211 Kolkata 100 114 140 162 185 165 176 191 213 211 194 191 190 Mumbai 100 112 117 124 126 134 160 167 173 175 181 194 193 Bengaluru 100 73 76 58 59 64 68 74 101 88 92 93 100 Delhi 100 124 130 121 113 106 110 115 123 126 147 154 167