ICICI Bank Launches ‘Cashback’ Home Loans

India’s largest private sector lender, ICICI Bank 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 the maximum tenure of 30 years. Customers can choose to adjust the cashback against principal outstanding of their home loan. The cashback will start to accrue from the first EMI itself. It will first get credited to the customer after completion of the 36th EMI.