ICICI Bank launches ‘Cashback’ home loans

The offer is available for home loans with a minimum tenure of 15 years.

This new home loan empowers borrowers to select their preferred mode of cashback.

They can choose to utilize the cashback to prepay the principal outstanding of their home loan or take credit in their ICICI Bank account. Both residents as well as NRI borrowers are eligible to apply for the cashback home loan.

Speaking on the launch, Anup Bagchi, Executive Director, ICICI Bank said, “ICICI Bank catalysed the growth of retail lending in the country by making home, auto and other retail loans widely accessible and affordable. As a result of our continued endeavor, we have the largest mortgage portfolio among private sector banks in the country. We foresee that a combination of young population and rapid urbanization will lead to the emergence of growing demand for housing in the country. Our new home loan offering offers a compelling and unparalleled benefit of 1% cashback on every EMI to customers. We believe that this proposition will propel customers to fulfill their aspirations of owning a home. “
 
This new offer is also available for other mortgage products like loan against property, lease-rental discounting and top-ups on existing mortgage loans.

ICICI Bank services its large customer base through a multi-channel delivery network of 4852 branches, 13780 ATMs, phone banking, internet banking (www.icicibank.com), mobile banking, banking on Facebook & Twitter and ‘PocketsbyICICIBank’ the country’s first digital bank on mobile.