ICICI Bank Loan Against Property

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About ICICI Bank

ICICI, India's largest private sector bank: assets worth Rs. 7,206.95 billion (US$ 109 billion)and profit after tax Rs. 97.26 billion (US$ 1,468 million) for the FY 2016-17. The bank operates 4,850 Branches and 13,660 ATMs across the length and breadth of India providing a wide array of financial products and services to corporate, MSME and retail customers through numerous delivery channels and group companies.

About ICICI Bank Loan Against Property

ICICI Loan Against Property is availed primarily to fulfill business requirements and for personal needs and is easy to access. The bank provides loans of up to 60% of the property's market value for the tenure of up to 15 years at attractive interest rates. Faster processing and prompt disbursals are other remarkable features of ICICI Loan against property.

Why apply for ICICI Bank Loan Against Property

 

  • To start a new business
  • To get funds for long term working capital
  • To fund children's higher education
  • To repay high interest debts

ICICI Bank Loan Against Property Features & Benefits

  • Sanctioned against existing property of the applicant, the ICICI Loan against Property can be used for various purposes such as business establishment, short-term business expenses, education needs, etc.
  • Offered at competitive interest rates, ICICI Loan against Property is easily available for salaried individuals, self-employed professionals and businessmen. Indian residents.
  • ICICI facilitates hassle- free application process, fast processing, and dedicated customer care executives.
  • Comparatively, higher loan amounts with tenors of up to 15 years are available.
  • ICICI Loan against Property can also be applied online.          

ICICI Bank Loan Against Property Fees & Charges

  • Prepayment charges- No charges are applicable after six months of final disbursement whereas 2% charge on principal outstanding is levied if prepayment is done within six months of final disbursement.
  • Processing fee- ICICI charges a processing fee up to 1% of the loan amount.

ICICI Bank Loan Against Property Eligibility Criteria

  • Age: The maximum tenure for which ICICI loan against property can be availed is 15 years.The borrower?s age should not exceed 60 years for salaried; and 65 years for self-employed individuals at loan maturity.
  • Owner's Property: The property placed as collateral for the loan must belong to the applicant. ICICI then decides the loan amount basis the market value of the property.
  • Repayment capacity: The bank checks CIBIL history and determines the eligibility basis the free cash flow available to the borrower.

  • Interest Rate 10.25% - %
  • Loan Amount20L - 50Cr
  • Processing Fee 0.75%
  • TenorUpto 15 Years

  • Quick Apply

Documents Required for ICICI Bank Loan Against Property

For Salaried Individuals

  • 2 Passport size photographs
  • Income Tax Return of last 2 years
  • Proof of Identity (Passport/ Driving Licence/ Voter's ID/ PAN Card)
  • Proof of Address (Leave and License/ Registered Rent Agreement/ Utility Bill (last 3 months old)/ Passport)
  • Income Proof(last 6 months payslip, 2 years Form 16, last 6 months bank statement showing salary credited and EMI debited)

For Self-Employed

  • 2 Passport size photographs
  • Proof of Identity (Passport/ Driving Licence/ Voter's ID/ PAN Card)
  • Income Tax Return of last 2 years
  • Proof of Address (Leave and License/ Registered Rent Agreement/ Utility Bill (last 3 months old)/ Passport)
  • Proof of Business (Incorporation details of companies, VAT/ service tax registration, Business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile)

Property documents

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of the property since the first allotment)
  • Latest House Tax Return
  • Approved Building Plan from Municipal Corporation

Other Available products from ICICI Bank Loan Against Property

  • Home loan
  • Home loan balance transfer
  • Business loan

EMI CALCULATOR

EMI Calculator

EMI Calculator

Loan EMI

Total Interest Payable

Total of Payments
(Principal + Interest)