A recent press report said that ICICI Bank has announced the launch of fixed interest rate product for home loans.
According to the scheme a customer can get a home loan at a fixed interest rate valid for a period of one or two years, after which the loan will move to floating interest rate. The floating rate from the second year will is to be linked to the ICICI Bank Base Rate (I-Base) plus margin which will be decided at the time of sanction of the loan.
Interest rates under the one year fixed rate home loan
| S. No | Loan Amount | Interest Rate |
| 1 | less than or equal to Rs 25 lakh | 10.50% |
| 2 | greater than Rs 25 lakh and less than or equal to Rs 75 lakh | 11.0% |
| 3 | greater than Rs 75 lakh | 11.50% |
Interest rates under the two years fixed rate home loan
| S. No | Loan Amount | Interest Rate |
| 1 | less than or equal to Rs 25 lakh | 10.75% |
| 2 | greater than Rs 25 lakh and less than or equal to Rs 75 lakh | 11.25% |
| 3 | greater than Rs 75 lakh | 11.75% |
According to reports the company has stated that fixed interest rates will protect customers from frequent changes in home loan interest rates and protect them from any rise in interest rates over the next one year or two years depending on the product availed by the customer.