ICICI Home Finance Launches SARAL- An Affordable Housing Loan Plan

ICICI Home Finance Launches SARAL- An Affordable Housing Loan Plan

ICICI Home Finance has launched SARAL– an Affordable Housing Loan Product, for urban and rural households with less than Rs 6 lakh annual income. The product caters to provide easy Home Loan at affordable interest rate for economically weaker sections and low to middle income group customers.

  • Features & benefits:
    The Saral Home Loan by ICICI Home Finance will be available for up to Rs 35 lakh with a maximum tenure of 20 years. The rate of interest starts from 7.98% p.a.
  • Balance Transfer:
    The eligible existing customers can also apply for balance transfer of their ongoing Home Loan to SARAL Housing Loan.
  • Women Ownership is Mandatory:
    The product also promotes woman empowerment. For rural areas, Women ownership has been made mandatory for households with annual income in the range of Rs 3 Lakh to Rs 6 Lakh.
  • Pradhan Mantri Awas Yojana Subsidy:
    Under PMAY, customers can apply for interest subsidy up to Rs 2.67 Lakh per house. The applications for subsidy can be filled before the end of this Financial Year.

ICICI HFC Saral Housing Loan at Glance

Name of the Product Saral Home Loan


  • Rural & Urban Households belonging to low to middle income groups, EWS category.
  • Household income should  be below Rs 6 Lakhs.
  • Women homeownership mandatory for Rs 3 Lakh to Rs 6 Lakhs annual income borrowers.

Maximum Loan Amount

Rs 35 Lakhs

Loan Tenure

20 Years

Interest Rate

7.98% p.a

PMAY Interest Subsidy

Up to Rs. 2.67 Lakhs per house

MD & CEO of ICICI Home Finance, Anirudh Kamani said that SARAL housing loan product endeavours to be a customer friendly and affordable financial solution to people seeking to buy their dream homes. Further NBFC wants to empower women across the country and look forward to transform them from homemakers to homeowners.


✅ What is ICICI HFC Scheme?

ICICI HFC SARAL affordable Home loans offers housing finance up to Rs 35 lakh at special rate of interest starting from 7.98% to Women borrowers belonging to Low and Middle income groups. The maximum household annual income should be of Rs 6 lakhs. Home Loan Balance Transfer is also allowed to eligible borrowers.

✅ What is the maximum threshold of Saral Loan?

The Saral Home Loan is available for up to Rs 35 Lakhs.

✅ What is the interest rate?

The rate of interest offered under SARAL Home Loans are subsidised rates started at 7.98% p.a.

✅ What is the maximum tenure?

The SARAL Home Loans are available for a maximum of 20 years.

✅ What are the rules for women borrowers?

The SARAL Home Loan Schemes aims to make Indian Homemakers the Homeowners. The lender has made women ownership of property mandatory for availing home loans for household with annual income between Rs 3 Lakhs to Rs 6 Lakhs.


Also Read: ICICI Bank Offers 3X Salary as Instant Overdraft to Customers

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Category: #mmm news    Home Loan