It has withdrawn teaser rates on home loans with immediate effect, said its spokesperson here. Teaser rate is a special loan scheme under which a concessional rate is offered for a limited period to attract customers.
ICICI Bank had in October said that under the teaser rate scheme, home loan seekers had to pay 8.5 per cent in the first year, 9.25 per cent in the second year and 1.5 per cent over and above the base rate in the third year, in a press release.
Published 01 December 2010, 15:10 IST