Search
ICICI Bank Rolls Out “Cashback” Home Loans
October 03, 2017
In what’s likely to be a first, private sector ICICI Bank has launched a new home loan scheme that offers cashback benefits. For each EMI paid, the borrowers will receive 1% cashback throughout the tenure. However, the scheme is only available for home loans of a minimum tenure of 15 years and a maximum tenure of 30 years.
The cashback amount under the new ICICI home loans can be either credited to the bank account of a borrower or adjusted against their outstanding loan balance.
The cashback benefit will become active from the first EMI itself. However, it will be first credited after the payment of the 36th EMI, and then after the 12th EMI.
