Chat on Home Loans with ICICI
Interest rates on home loans have been falling dramatically over the last two years. In the past few months itself, there has been a round of major rate cuts led by ICICI Housing Finance and followed by the State Bank of India. Interest rates on home loans have fallen from 12 - 13 per cent in the beginning of 2001 to 8.25 - 9 per cent now.
But have they bottomed out? What kind of tax breaks can home loans offer and what is the eligibility criteria to avail of a housing loan?
rediff.com brings Rajiv Sabharwal, Chief Operating Officer, ICICI Home Finance Company Limited, to answer these questions.
A mechanical engineering graduate from IIT Delhi with a specialisation in Marketing and Finance from IIM Lucknow, Sabharwal joined ICICI in 1998 after a stint at GE Capital Transportation Financial Services Limited
At ICICI, he has handled credit function in the automobile finance business and was the Risk Head of ICICI PFS in 2000-01 handling all retail products - Cars, Mortgages, Credit Cards, Commercial assets, consumer durables, two wheelers and personal loans.
Sabharwal now concentrates on handling the retail mortgages and property finance and services business of ICICI.
Log on to the rediff.com chat to ask everything you wanted to know about home loans on Wednesday, February 05, 1600 hours IST*.
(*Subject to last minute change).
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