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ICICI to revise interest rates on loans after March 2008

ICICI to revise interest rates on loans in March to June 2008

Apnaloan.com Research Bureau

06 Feb 2008

While most banks are reducing or hinting at decreasing the interest rates, ICICI bank has announced that its interest rates will be revised in the financial year 2008-09. K V Kamath, managing director and chief executive officer, ICICI Bank has indicated that the country's second largest bank will review interest rates only in 2008-09.

ICICI Bank chairman KV Kamath was quoted in media reports stating that the bank will watch the interest rate movement during the last quarter of the financial year 2007-08 as this is the period where interest rates normally show an upward movement.

The bank is expected to take a decision on its interest rates only after its review.