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ICICI Bank raises consumer loan rates

Special Correspondent

MUMBAI: ICICI Bank has announced an increase of one percentage point in its Floating Reference Rate (FRR) for consumer loans (including home loans) with effect from March 31. The revised FRR will be 12.75 per cent per annum as against 11.75 per cent at present.

For existing floating rate customers, the increase in Floating Reference Rate by one percentage point will be effective from April 1. The existing fixed rate customers whose loans are fully disbursed, will, however, not be impacted by the increase.

ICICI Bank has also announced an increase of one percentage point in its Benchmark Advance Rate (IBAR) to 15.75 per cent.

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