ICICI Bank launches floating retail loans

ICICI Bank, the biggest retail lender, today launched floating involvement charge per unit loans for purchase of cars, commercial vehicles, building equipment and professional equipment.The floating charge per unit for these retail loans would be 50 footing points less than the several fixed rates. The floating charge per unit that the Depository Financial Institution is offering is linked to the Floating Mention Rate-FRR, the benchmark used by the Depository Financial Institution for pricing floating charge per unit loans to its retail customers.ICICI Depository Financial Institution is the first among private sector Banks and NBFCs to offer floating charge per unit merchandise to retail loan customers.N Roentgen Narayanan, head- vehicle loans, ICICI Depository Financial Institution said: "It is our changeless enterprise to supply clients the best possible options to ran into their funding requirements. With floating charge per unit loans we are taking another measure in the way of providing advanced solutions to the customer. We anticipate floating charge per unit loans to appeal to clients who throw a positive mentality on involvement rates ."