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ICICI Bank Home Loan
For a term of up to 30 years, ICICI Bank provides home loans that are affordable and have competitive interest rates.Powered By
ICICI Bank Home Loan
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Here are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 700+ |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | Salaried-22
Year to 60 Year Self Employed-22 Year to 65 Year |
| Loan Amount & Tenure | 50
Lac to No Limit (5 Year to 30 Year) 20 Year for Normal Salaried Person except HNI |
| Login Fees | Salaried-3000 Self Employed-5000 |
| Rate of Interest & Type | Salaried:8.60%
to 10% Self Employed: 8.75% to 10% |
| TAT | 7 Days |
| Processing Fees | 0.25% |
| Insurance & Other Charges | Insurance Charges:0%-2% |
| Foreclosure Charges | Nil for Individual & 2% for other than individual |
| Minimum Income | Salaried-30000 Per Month |
| Lock In Period | Nil |
| Part Payment Allowed | Yes |
| Home Loan OD Product | No |
| LTV | Approved Property-75% of Market Value |
| Product | New
Home Purchase, Plot Purchase, Plot Purchase+Construction, Construction Loan,
Home Renovation, BT+Topup |
| Program | Banking Program-5 Cr, GST Program-5 Cr |
| CO - Applicant | Yes |
| FOIR | Salaried: <1Lac> 55%, >1 Lac-3 Lac-65%, >3 Lac> 70% Self Employed: 100% FOIR |
| Negative Profile | Seller BT not doing |
| Funded Property Type | (i)
Residential Property (ii) Residential Plot Purchase (iii) Residential Plot Purchase & Construction |
| Negative Property | Khasra-Khatauni
Property, Lal Dora Property, Un-approved Property,Sub-divided property,
GPA Property, Gram Panchayat Property,Without MAP property, Legal & technical not clear, GPA Property, Auction Property,Bachha Flat |
| Accepted Collateral | Approved Property |
| Business Vintage for Self Employed Person | 3 Year |
| Minimum Job Experience for Salaried Person | 2 Year |
| Experience with Current Employer | 3 Month |
| Any Specific Product for Professionals | Yes, Lower ROI for CA & Doctors |
| USP | Upto 2 Cr No PD |
Required Documents to Apply for ICICI Bank Home Loan
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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Approved MAP of Property if available
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if new purchase case
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Property Paper with complete chain of last 13 years
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Approved MAP of Property if available
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About ICICI BANK Home Loan
The ICICI Bank Home Loan is a one-stop solution for your dream home. Whether you want to buy or build a new home, they have various products to suit your needs. For a term of up to 30 years, ICICI Bank provides home loans that are affordable and have competitive interest rates. Through ICICI Bank Express Home Loan, a self-service digital platform, non-ICICI Bank customers and Non-Resident Indians (NRIs) may apply for a home loan online and receive a digital sanction in 5 easy steps. Additionally, due to minimal documentation, ICICI Bank can make your journey to get a home loan much easier. So, if you want to get a home loan that suits your needs, then look no further than ICICI Bank Home Loans. Let’s move ahead and discover more about their Home Loans.
Different types of Home Loans from ICICI Bank
30 Year Home Loan
30 Year Home Loans offers you the facility of tenure extension. An extended tenure improves your eligibility for a home loan, enabling you to obtain a larger loan amount with lower EMIs. Salaried employees from the eligible list of organizations are eligible for 30 Year Home Loans.
Money Saver Home Loan
With a Money Saver Home Loan, you can reduce the interest charged on your home loan by avoiding paying interest on the premium. Your Home Loan Account functions as a Money Saver Account under this plan, into which you deposit funds or savings, bonuses, increments, etc.
Home Loan Balance Transfer
You can transfer your outstanding home loan balance from your current bank to a new lender that is giving a cheaper interest rate via a home loan balance transfer option. The facility ensures that the home loan features provided by the new lender align with your repayment goals and capabilities.
Top-up Home Loan
With the addition of an overdraft facility, you can now apply for a top-up on your current home loan and use the money to pay for various needs such as, home improvements, wedding costs, business development, funding for your child's further education, and other personal needs. If you already have a home loan with us, applying for a top-up loan is easier, less stressful, and requires less paperwork.
Step-up Home Loan
You can now own your dream home at a young age with ICICI Bank Step Up Home Loans. A product for young salaried professionals, the ICICI Bank Step Up Home Loan allows you to borrow more money than you would otherwise be eligible for under standard home loans.
Home Improvement Loan
For your dream home, ICICI Bank Home Improvement provides a limitless array of interior design options. With the help of our design partners, you can redesign your home very easily. For renovation, you can get the support of Livspace's thorough research, technical expertise, and creative judgment.
Land Loan
With ICICI Bank Land Loans, you can expand your holdings. Get a loan for land at the same rate as one for a home.
Home Overdraft
The ICICI Bank Home Overdraft offers a one-stop solution for all of your financial needs. It is a long-term, multipurpose facility that allows you to quickly access money to cover both anticipated and unforeseen needs.
Start with ICICI Bank Home Loan in few steps
If you are planning to apply for a home loan at ICICI Bank Home Loan there are certain details that you should be aware of, Let’s discuss
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Rate of Interest on ICICI Bank Home Loan
For Salaried Individuals
|
Slab |
Floating Interest Rates |
|
Up to ₹35 lacs |
RR + 2.70% (8.10%) - RR + 3.45% (8.85%) |
|
₹35 lacs to ₹75 lacs |
RR + 2.70% (8.10%) - RR + 3.45% (8.85%) |
|
Above ₹75 lacs |
RR + 2.70% (8.10%) - RR + 3.55% (8.95%) |
Rate of Interest on ICICI Bank Home Loan
For Self Employed
|
Slab |
Floating Interest Rates |
|
Up to ₹35 lacs |
RR + 2.80% (8.20%) - RR + 3.60% (9.00%) |
|
₹35 lacs to ₹75 lacs |
RR + 2.80% (8.20%) - RR + 3.60% (9.00%) |
|
Above ₹75 lacs |
RR + 2.80% (8.20%) - RR + 3.70% (9.10%) |
FREQUENTLY ASKED QUESTIONS
After taking into account a number of variables, including your monthly income, your monthly debt commitments, your present age, and your retirement age, among others, your eligibility is evaluated.
The amount of the loan, the tenure of the loan, and the interest rate are used to determine the EMI.
An interest rate that fluctuates is connected to a benchmark rate. Home loans from banks with floating interest rates are correlated to external benchmark rates by RBI standards. The floating interest rate offered by ICICI Bank is based on the repo rate that the RBI declares. Therefore, the interest rate on your home loan varies in accordance with the repo rate. As a result, depending on the change in the interest rate, your loan's EMI or term may increase or decrease.
The ICICI Bank Home Loans processing fee is 0.50% of the loan amount.
The repayment tenure for your ICICI Bank Home Loans can go up to 30 years.
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