I am an existing ICICI Bank Home Loan customer. Can I migrate from FRR/I-BAR to I-Base based interest rate ?
Ans:- Yes, there is a provision for any existing customer to migrate to I-Base based interest rate. There will be no fee or charges for this migration. Please note that benchmark migration to I-Base will not result into any change in existing effective interest rate for the customer. While the FRR will be replaced with I-Base, the margin will be adjusted accordingly to maintain the effective current interest rate.
If there is no difference in the interest rates then how the existi