ICICI Bank sees surge in home loan demand

ICICI Bank said it had seen a ‘record’ surge in its home loan portfolio in September and October with people rushing to buy homes at lower prices and at low interest rates. It added that it had seen more demand coming from places other than the top eight cities.

Loans in the range of ₹ 30- ₹ 35 lakh were in demand with the salaried class, given that stable income had been taking the plunge.

In a statement on Wednesday, the bank also said it had crossed the milestone of ₹ 2 lakh crore in its mortgage loan portfolio, making it the first private sector bank in the country to do so.

The first milestone of ₹ 1 lakh crore was achieved in 2016. Anup Bagchi, executive director, ICICI Bank, said, “The next milestone of ₹ 3 trillion will be achieved in less than 4 years.”

He added that the bank had expanded its footprint and was now “present in 1,100 locations, including tier 2, 3 and 4 cities [and] fast-growing outskirts of metros. We have scaled up our credit processing centers from around 170 to over 200 in the past two years in these new markets. ”


Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link


Please enter your comment!
Please enter your name here


Model code will be strictly enforced in municipal polls: SEC

State Election Commissioner Nimmagadda Ramesh Kumar said that Model Code of Conduct set by the Election Commissioner of India...

U.S. trade report flags challenges from ‘Make in India’ policy

The campaign epitomises the challenges facing bilateral trade ties, U.S. Congress told The U.S. tried to resolve “long-standing market access impediments affecting U.S. exporters” with...

Of mice as pets and making a living out of it

Firoz Khan, a pet breeder at Kundayithode in Kozhikode, shocked a lot of people when he started breeding edible worms a while ago. Now,...

Walk-in registration opened post noon

The Health department had decided to allow only online registrations for the first few days of COVID-19 vaccination drive covering high-risk citizens, but opened...

UDF in a spot as Rema opts out of race in...

RMP to field party State secretary N. Venu in constituency The Congress-led United Democratic Front (UDF) has found itself in a spot following a decision...

More Articles