ICICI Home Loan Eligibility Criteria

Age of the Applicant

18 to 70 years

Eligible Salary

25,000 per month and above

Work Experience for Salaried

3 years and above

Maximum tenure


Minimum CIBIL Score


Maximum Loan on Property Value

Up to 90%

Eligibility with Co-applicant

Up to 3 earning family members may be added to get higher loan eligibility

check your eligibility


About ICICI Bank Home Loan

ICICI Bank is one of India's technologically advance private sector banks offering Home Loans to people who need lump sum cash for a house purchase, home renovation, room addition/ extension and other housing-related purposes. The only security for such a Home Loan is the house itself. ICICI Bank Home Loans have the following features:

  • NIL charges on prepayment of floating interest rate Home Loan
  • Higher loan amount eligibility
  • Easy and hassle-free documentation
  • NIL charges on balance transfer from other banks

ICICI Bank Loan Eligibility Criteria

ICICI Bank evaluates your repayment capacity based on your income, age, property's value, city of residence to calculate the Home Loan amount you are eligible for. To increase the Home Loan eligibility amount, you can opt to add earning members of your family as co-applicants.

Below are the ICICI Bank Home Loan eligibility criteria:

  • Applicant can be an Indian Resident as well as Non Resident Indian (NRI)
  • Applicant can be a salaried individual or self-employed person with a regular source of income
  • Applicant should be of minimum 21 years at the time of loan application and maximum 65 years of age or retirement (whichever is earlier) at loan maturity.
  • Minimum age of the co-applicant should be 18 years

Factors Affecting ICICI Home Loan Eligibility

ICICI Home Loan Eligibility Based on Age

Since Home Loan is a long duration loan, age is a very important criterion in determining your eligibility. ICICI Bank prefers that you opt for a Home Loan at lower age so that you have a longer time for loan repayment. Lower your age, higher is the time available for loan repayment. Hence, you can be eligible for a higher loan amount at a lower age. Higher the age, lower is the time available for repayment and hence you may be eligible for a lower loan amount. ICICI Bank offers Home Loans with a minimum 21 years of age criterion at the time of loan commencement. The maximum tenure of a Home Loan amount that ICICI Bank offers is 30 years. Since, most salaried employees retire at 60 years of age, in order to be eligible for a 30 year Home Loans, the maximum age of a salaried or even a self-employed person should not exceed 30 years.

The following table shows the age to be eligible for a maximum tenure of Home Loan:

Age of borrower Maximum Tenure (Salaried) Maximum Tenure(Self-employed)

25 yrs

30 yrs

30 yrs

30 yrs

30 yrs

30 yrs

35 yrs

25 yrs

30 yrs

40 yrs

20 yrs

25 yrs

45 yrs

15 yrs

20 yrs

50 yrs

10 yrs

15 yrs

ICICI Home Loan Eligibility Based on Salary

Salary/Income: Your net monthly income or take home salary post deduction of statutory amounts like Provident Fund, ESI, Income Tax, etc. is the most important criteria that determine your loan repayment capacity and ultimately the loan amount eligibility. Your net monthly income helps the bank to calculate the Equated Monthly Instalment (EMI) amount that you can comfortably pay based on your living standards.

For example, if your net monthly income is 25,000 and you want to buy a house worth 40 Lakhs, then at an interest rate of 9.10%, your loan amount eligibility will be 25.55 Lakhs to 40.03 Lakhs depending on your age. Here, we assume that you have no other existing EMIs to pay. Those who have a net monthly income of 75,000, can be eligible to get a loan of 51.09 Lakhs to 80.07 Lakhs on the same property and same interest rate based on their age at the time of applying for the loan.

Thus, higher your take home salary, higher is your loan amount eligibility. If you have a higher salary, you can even opt for Home Loan with high EMIs so that you can repay the entire loan in shorter duration.

Nature of Employment: Your eligibility for a Home Loan is also determined by the nature of your job or profession. ICICI Bank looks at your job, years of experience, job stability, and nature of work if you are a salaried Home Loan applicant.

For a salaried employee, ICICI Bank requires a minimum income history of atleast 2 years. For self-employed individuals, ICICI Bank requires a minimum income history of 5 years.

ICICI Home Loan Eligibility Based on Value of Property

Value of property: A Home Loan lender uses the home as a security for loan repayment. Hence, the value of the property is an important criterion for determining Home Loan eligibility. ICICI Bank does not provide finance on the entire value of the property.

The following table provides the maximum Home Loan eligibility depending on the property value:

Property Value LTV

Up to 30 Lakhs


Above 30 Lakhs to 75 Lakhs


Above 75 Lakhs


Co-applicant: If you want to be eligible for a higher loan amount, you may add an eligible co-applicant for your Home Loan application. A co-applicant can be an earning member of your family, such as your spouse, parent, and so on. However, it is required that the co-borrower that you add has a good income, less obligation, a good track record of repaying loans and clean credit history.

ICICI Bank Home Loan Eligibility Based on Minimum CIBIL Score

CIBIL score is one of the most important determinants of your Home Loan eligibility. CIBIL has a complete record of your past credit history in terms of Credit Card payments, loan repayment history, and so on. ICICI Bank uses a CIBIL score to evaluate the behaviour of a borrower for loans taken previously.

The bank does not only merely look at only the CIBIL score but orders a complete CIBIL report that includes your behaviour for all the current and past loans. Base on your past credit behaviour, CIBIL assigns a score. Higher the credit score, higher are the chances that your Home Loan application at ICICI Bank will get approved. ICICI Bank requires that a Home Loan applicant has a minimum CIBIL score of 650 and above to be eligible for a Home Loan.

Factors affecting the credit score are:

  • Any instance of a delay/ default in loan EMI or Credit Card bill payment
  • Having a high number of unsecured loans
  • Frequent Credit Card cash withdrawals and frequently using the entire credit limit on your cards.
  • Applying for a Home Loan at multiple banks simultaneously

ICICI Bank Housing Loan Eligibility Based on FOIR

FOIR stands for Fixed Obligation to Income Ratio. This is an important criterion used by ICICI Bank to determine your Home Loan eligibility. To calculate this amount, the bank considers all your monthly fixed obligations like rents, existing EMIs, Credit Card payments, etc.. This value divided by your income provides your FOIR. At ICICI Bank, the Minimum FOIR to be eligible for Home Loan is 0.65.

How to Increase Your ICICI Home Loan Eligibility?

To improve your chances of getting ICICI Home Loan, you can do the following:

  • Repay all the existing loans and other credit dues if any
  • Add other sources of income like rent from a property if any to your monthly income to increase the Home Loan amount eligibility.
  • Add your spouse's (or any other earning family member's) income to enhance the loan amount eligibility.
  • Provide details of bonuses and other benefits received from your employer from time to time to enhance the loan amount eligibility.

Why Should You Use Home Loan Eligibility Calculator?

An online Home Loan eligibility calculator helps applicants to know the amount of Home Loan that they are eligible to get from ICICI Bank.

The applicant has to enter details like gross monthly income, loan tenure, interest rates, and other EMIs to know the loan amount that they are eligible for. The Home Loan eligibility calculator is available online for free of cost and can be used multiple times to arrive at the right kind of Home Loan that suits your profile.

Home Loan eligibility calculator offers the following advantages:

  • Saves Time: Since Home Loan eligibility calculator is available online free of cost, it helps you evaluate your eligibility at home without having to go to ICICI Bank branch.
  • Saves Efforts: There are multiple criteria for evaluating Home Loan eligibility and as a result it takes a lot of time and effort to manually calculate the loan amount details. Home Loan eligibility calculator has all the criteria fed into the program and as a result you can know your Home Loan amount eligibility within seconds.
  • Easy Comparison: A Home Loan is a commitment for a long term and hence one has to take an informed decision and choose the best possible option. Eligibility Calculator helps you compare options from multiple banks and NBFCs along with the terms and conditions and allows you to choose the option that you are the most comfortable with.
  • Free of Cost:  Home Loan eligibility calculator tool is available online and free to be used for an unlimited time.

How to Use MyMoneyMantra's EMI Calculator

Before applying for ICICI Bank Home Loan or any other loan, you must know the EMI amount you will be paying till the end of the loan tenure. Here's how to use MyMoneyMantra's EMI Calculator:

  • Go to MyMoneyMantra's website, click on Financial Tools and select EMI Calculator from the dropdown menu.
  • Enter the loan amount required, applicable interest rate, and tenure of the loan
  • Click on Calculate button to get the result instantly

Documents Required for ICICI Home Loan

For Salaried Employees

  • Duly filled application form for Home Loan
  • Recent passport-sized photographs
  • Proof of identity, age, and residence
  • Bank statements of last 6 months
  • Salary slips of last 3 months
  • ITR/ Form 16
  • Processing fee cheque

For Self-Employed Professionals

  • Duly filled application form for Home Loan
  • Recent passport-sized photographs
  • Proof of identity, age, and residence
  • Bank statements of last 6 months
  • Business existence proof
  • ITR for the last 3 years with computation of income
  • Balance Sheet and P&L Account (CA Certified/ Audited) for the last 3 years
  • Form 16
  • Education qualification certificate
  • Business existence proof
  • Processing fee cheque

For Self-Employed Non-Professionals

  • Duly filled application form for Home Loan
  • Recent passport-sized photographs
  • Proof of identity, age, and residence
  • Bank statements of last 6 months
  • Business existence proof
  • Business profile
  • ITR for the last 3 years with computation of income
  • Balance Sheet and P&L Account (CA Certified/ Audited) for the last 3 years
  • Form 16
  • Processing fee cheque

Types of ICICI Home Loan Schemes

ICICI Bank offers a range of custom made schemes designed for specific customer segments and profile to meet their loan requirements. Basic features of some of the most popular Home Loan products and schemes by ICICI Banks are as follows:

Home Loan

This is a regular Home Loa scheme which can be availed to purchase or construct a home of your own.

Key Features

  • Quick and easy application process
  • Higher eligibility
  • Lower EMIs
  • Attractive interest rates
  • You can easily apply through ICICI's Tablet and Smartphone applications for faster approval of your loan.

Pre-approved Home Loan

ICICI Bank pre-approved Home Loan is offered to the selected existing customers of the bank. The scheme lets you avail the loan before choosing a property.

Key Features

  • Quick and easy application process
  • Higher eligibility
  • Lower EMIs
  • Attractive interest rates
  • You can easily apply through ICICI's Tablet and Smartphone applications for faster approval of your loan.
  • Existing customers get the benefit of reduced documentation

Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana (PMAY) is a Credit Linked Subsidy Scheme for people belonging to the EWS and LIG categories. The honourable Prime Minister of India, Narendra Modi launched this scheme with a vision of providing housing to all by the year 2022.

Key Features

  • Lower EMIs
  • Affordable Home Loans at interest rates as low as 5.11% p.a.
  • Upfront interest subsidy on principal outstanding
  • Aadhaar numbers of the beneficiary's family members are mandatory for MIG category
  • Interest subsidy is available for a maximum tenure of 20 years

Balance Transfer

ICICI Bank offers attractive Home Loan balance transfer scheme that enables Home Loan customers from other banks to shift to ICICI Bank Home Loans. This facility helps a borrower to get a reduced interest rate and EMI. A borrower can also get an additional loan amount as high as 100% of the original loan depending on eligibility.

Key Features

  • This Home Loan is available for borrowers aged 21 - 60 years
  • The maximum loan tenure for this type of loan is 30 years
  • The application process is easy and quick

Top Up Loan on Your Home Loan

You can apply for Top Up on your existing Home Loan to fulfill requirements such as home renovation, business expansion, marriage expenses, funding of your child's education, or any other personal need.

Key Features

  • Applying for a Top-Up loan is simple, quick, and hassle-free
  • Simplified and minimal documentation
  • Attractive interest rate
  • Lower EMI
  • Tenure of up to 20 years

ICICI Bank Step Up Home Loans

These loans are made for the young salaried individuals to avail a higher loan amount as compared to their eligibility for normal housing loans.

Key Features

  • Enhanced loan eligibility of up to 20%
  • Loan amount of up to 3 Crores
  • Minimum income should be 20, 000 per month
  • Loan tenure is up to 20 years

30 Year Home Loan

This Home Loan is for those who are looking for a longer tenure of up to 30 years to repay their Home Loan conveniently.

  • These loans can be availed by women borrowers and applicants working with a select group of companies.
  • Higher loan amount
  • 30 year tenure
  • Smaller EMIs
  • Simplified documentation
  • Doorstep service

FAQs on ICICI Home Loans

Does balance transfer to ICICI Bank help?

ICICI Bank has one of the most widespread networks of bank branches. The bank offers a competitive rate of interest on Home Loan starting at 9.05% with a maximum tenure of 30 years. Hence, if your current interest rate is more than that, you should consider shifting to ICICI Bank.

Can I apply for a joint Home Loan with my spouse?

Yes, you can apply for a joint Home Loan with your spouse and your incomes can be clubbed to get a higher loan amount.

Can I get a top up loan on my existing Home Loan?

Yes, ICICI Bank provides a top up loan on your existing Home Loan.

Will MCLR vary between banks?

Yes, MCLR can vary between different banks because it depends on the marginal cost of funds, operating costs, negative carry on account of CRR, tenor premium of the respective bank.

What are the different types of benchmark under MCLR?

Currently, the ICICI Bank has published the following MCLR benchmarks:

  • Overnight MCLR
  • 1-month MCLR
  • 3-month MCLR
  • 6-month MCLR
  • 1-year MCLR

What is the benchmark MCLR that is applicable on ICICI Mortgage Loans? What will be the reset period for Mortgage Loans of the ICICI Bank?

The benchmark MCLR is I-MCLR-1Y for mortgage loans and the reset period will be an annual reset for the same.

What are the types of housing loans offered by ICICI Bank?

ICICI Bank offers the following types of housing loans:

  • Home Loan
  • Pre-approved Home Loan
  • Pradhan Mantri Awas Yojana (PMAY)
  • ICICI Bank Step Up Home Loans
  • Balance Transfer
  • Top Up Loan on Your Home Loan
  • 30 Year Home Loan

Can I pre-pay my Home Loan in parts through NEFT with ICICI Bank?

Yes, the bank accepts part prepayment of your Home Loan through NEFT (National Electronic Funds Transfer).

ICICI Bank Home Loan - Latest News

17.04.2019: As corporate demand slips ICICI Bank shifts its focus on retail

ICICI Bank will continue to focus on aggressively growing its retail loans such as home loans, vehicle loans, and high value unsecured loans like personal loans and credit cards, as the demand for corporate loans slips. With instant home loans and vehicle loans approvals, the bank expects to step up the demand for retail loans.

06.04.2019:  Avail paperless and instant ICICI Bank Home Loan approval of up to 1 Crore

ICICI Bank has introduced the facility of paperless and instant Home Loan. The Instant Home Loan will enable the customers to avail Home Loan of up to 1 Crore. Instant Home Loan enables lakhs of pre-approved salaried applicants to get final sanction letter digitally and get loans up to 1 Crore instantly for a tenure of up to 30 years (based on customer's age).

29.03.2019: ICICI Bank offers instant Home Loan disbursals

ICICI Bank, one of the largest private sector banks in India, has introduced digital Home Loans as well as top-ups. Under these loans, customers can avail an instant sanction and disbursement of the loan, subject to their eligibility. The bank will deploy their employees with devices in their sourcing locations to let the customers to fill in the details and get an instant sanction or get a top-up loan disbursed in their account immediately.

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