ICICI Bank is a leading private sector bank in India. It offers a wide range of banking and financial services to corporate and retail customers. In the 1990s, ICICI transferred its business from development financial institutions offering only project finance to a diversified financial services group offering a wide variety of products and services.
ICICI Home Loan is one of the natural and quick loans with a reasonable interest rate. It’s a hassle-free loan facility with no Equated Monthly Installment stresses and quick approval. With a specific end goal to grab ICICI Home Loan, you need to apply here. Home loan is one of the most provided economic outcomes of the ICICI bank.
There are so many banks and non-banking financial companies that offer home loans nowadays, but ICICI bank is the best bank for providing home loans at an attractive interest rate for both fixed and floating rate loans The bank has a vast area of the network, and it has been serving customers with excellent and reliable financial services.
The purposes you can take ICICI Bank Home Loan :
Buying a new house
Buying a resale home
Construction new home
Buying a property
Balance transfer
1. Flexible repayment option upto 30 years
2. Offers home loan online application facility
3. Doorstep services provided at your comfort
4. Attractive interest rate on both fixed and floating rate loans
5. Top up loan facility available
6. Faster documentation process for existing customers
|
TYPE |
CHARGES |
|
Processing fee |
0.50% of the loan amount plus applicable tax |
|
Preclosure fee |
NIL |
|
Part payment fee |
NIL |
|
Charges of late payment |
2% per month |
|
Repayment mode swap charges |
Rs.500 |
|
Document retrieval charges |
Rs.500 |
|
Cheque bounce charges |
Rs.500 |
|
Duplication of Non Objection Certificate |
Rs.100 |
|
Revalidation of Non Objection Certificate |
Rs.100 |
|
Administrative Charges |
Rs.5000 |
|
CIBIL Report |
Rs.50 |
|
Legal, Incidental charges |
At actuals |
|
ELIGIBLE |
Salaried, self employed and self employed professionals |
|
AGE |
18 years to 65 years |
|
NATIONALITY |
Indian Resident and NRI |
1. Fully filled signed application form
2. Passport size photograph
3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id
4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id
5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited
6. For Self employed individuals / professionals = 2 years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
Schemes of ICICI Bank Home Loan :
|
Instant Home Loan |
30 Year Home Loan |
Home Improvement Loan |
Balance Transfer Plus Top up |
Top up Home Loan |
Insta Top up Loans |
|
Extra Home Loan |
24 Hours Top up Loans |
Pragati Home Loan |
Land Loan |
Prdhan Mantri Awas Yojna |
Saral Housing Loan |
There are two ways to apply for home loans from ICICI Bank :
1. Offline method : By visiting nearest bank branch
2. Online Method :
First of all first visit to official website of ICICI Bank
In retail section go to the “loans”
Now click in home loan
After that go to “Home loan”
Now click on apply now and fill application form
How to contact with ICICI Bank :
1. By customer care contact number : 18601207777
2. By customer care email id : customer.care@icicibank.com
The following formula is used to calculate EMI of ICICI Bank Home Loan :
EMI = [PXRX(1+R)^N] / [(1+R)^N-1]
Where,
P stands for Loan Amount
R stands for Interest Rate
N stands for tenure in number of months
Financials products offered by Bank :
The minimum repayment tenure is 3 years and maximum loan tenure is 30 years of a home loan in ICICI Bank
The minimum loan amount is Rs.5 lakh and maximum loan amount is Rs.10 crore of ICICI Bank home loan.
Yes, age eligibility is important to get a home loan from ICICI Bank. The age should be 18 years to 65 years.
The processing fee charged by ICICI Bank for home is ranging from 0.50% of the loan amount plus applicable tax.
You can take a home loan from ICICI Bank for various purposes i.e. buying a new home, buying a resale home, construction of a new home , buying a product, balance transfer.
Salaried employees, self employed and self employed professionals are eligible to take a home loan from ICICI Bank.
Last Updated on : 18/Aug/2020Know More About
You're eligible for a Icici Bank Home Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Icici Bank Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 6.95% - 8.05% |
| Processing Fees | 0.50% of the loan amount plus applicable taxes |
| Loan Tenure | 3 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator