ICICI Bank Home Loan

Home Home Loan ICICI Bank Home Loan

About ICICI Bank

ICICI Bank is India's largest private-sector bank. ICICI Bank was established as ICICI Limited in 1994. ICICI Bank offers an extensive range of banking products and financial services to its retail and corporate customers through several delivery channels and its group companies.

About ICICI Bank Home Loans

ICICI Home Loans are quick as well as easy to access. Attractive interest rates, lower EMIs and higher eligibility are the best features of ICICI Home Loans. Additionally, ICICI bank facilitates e-approval thereby ensuring faster processing and speedy disbursals.
You can avail an ICICI Home Loan either for purchasing your dream home or a home from any of a wide variety of ICICI's approved projects. They also offer pre-approved home loans to select customers.

ICICI Bank Home Loan Details

ICICI Bank Home Loan may be best utilized in anyone or more of the following situations:

1. When purchasing your home either individually or jointly.
2. If you wish to go for home renovation or home improvement.
3. EMI Under Construction helps in making payments in EMIs for a partly sanctioned loan for an under-construction project.
4. To transfer your current home loan that has been availed from any other bank to ICICI.
5. The bank also facilitates Top-Up Loans as an additional funding against your property.

ICICI Bank Home Loan Features & Benefits

  • Affordable and floating/fixed interest rate options.
  • Sanctioning of a loan before selection of property.
  • Simplified and hassle-free documentation.
  • Facility of longer tenure which facilitates lower EMIs.
  • Availability of "Balance Transfer" feature which allows transfer of existing home loan availed from any other bank to ICICI Bank.
  • Availability of top up loan which can be up to 100% of the original home loan.
  • Facility of pre-approved home loans to select customers.
  • Loan tenure of up to 30 years is available.
  • Facility of enjoying either fixed or floating interest rate after first 10 years of loan availed at fixed interest rate.

ICICI Bank Home Loan Eligibility Criteria

  • Age of the applicant should be 21 years or more at the time of loan sanctioning.
  • Maximum age for loan maturity is 65 years or date of retirement whichever is earlier.
  • Applicant must have a regular source of income.
  • Age of the co-applicant must be 18 years or more.
  • To increase the eligibility on Home loan, one can include the name of an earning member of the family as a co-applicant. The income of the co-applicant is considered to enhance the eligibility on a Home loan.
  • In case of co-owners of a property, they must necessarily be co-applicants on the Home loan.

  • Interest Rate 8.35% - 9.45%
  • Loan Amount20L - 100Cr
  • Processing Fee 11500 - 0.25%
  • TenorUpto 25 Years

  • Quick Apply

ICICI Home Loan Documentation


Along with the filled application form following documents are required for financial loan applicants and co-applicants:

Type of Document

Salaried Employee

Self-Employed

Salary slips/ Income Tax Return

  • Salary slip of 3 months or salary certificate
  • Bank statement/ copy of passbook of last 3-6 months
  • Income Tax Returns for last 2 years duly certified by CA
  • Bank statement/ copy of passbook of last 3-6 months

Salary proofs/ Business statements

  Form 16/ PF statement/appointment letter

  Balance sheet and P&L statement for last 2 years including schedules and Annexures

Identity proof

  Passport/ Voter      ID/PAN/Driving License

  Passport/ Voter ID/PAN/Driving License

Job/ Business stability

  Full-time job stable for years

  • Proof of business registration
  • GST/ VAT/ Service tax or incorporation certificate.

Photographs

  Two

  Two

Residential address proof

  Registered rent agreement/passport/ utility bill (up to 3 months old)/ leave and license

  Registered rent agreement/passport/ utility bill (up to 3 months old)/ leave and license

Other documents

  • Employment contract or Appointment letter if job is less than 1 year old
  • Cheque of processing fees in favor of HDFC Ltd

  Cheque of processing fees in favor of HDFC Ltd

ICICI Bank Home Loan Fee & Charges

ICICI bank ensures that the best loans in terms of fee and interest rates are provided to its customers. A detailed chart showing charges applicable on ICICI Home loans is presented below.

 Description of Charges  Applicable Charges 
Loan Processing Charges (Non-refundable)  Up to 1% of loan amount or Rs.1,500/ Rs.2,000 (Mumbai, Delhi &  Bangalore), higher among the two plus extra taxes
Late payment charges  2% per month (Home Loan)

Other Available products from ICICI Bank

  • Personal Loan
  • Business Loan
  • Loan against property
  • Home Loan balance transfer

EMI CALCULATOR

EMI Calculator

EMI Calculator

Loan EMI

Total Interest Payable

Total of Payments
(Principal + Interest)

ICICI launches festive scheme for home loan borrowers

October 03,2017

India's second largest private sector bank has launched an attractive scheme for new home loan borrowers. As per the scheme, the bank will give 1% cash back to borrowers on every EMI for the entire loan tenor. The scheme will apply to the loan with a minimum loan tenor of 15 years for both NRIs and Indian residents. However, the first cash back will be credited only after the repayment of EMIs for 36 months. 

Read More