ICICI Bank has announced a new home loan scheme that offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan. The offer will be valid for home loans with a minimum tenure of 15 years and maximum tenure of 30 years.
Customers can choose to adjust the cashback against principal outstanding of their home loan. Or, they can get it as direct credit in their bank account.
This new offer is also available for other mortgage products like loan against property, lease-rental discounting and top-ups on existing mortgage loans.