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ICICI Home Loan

ICICI Home loan finish your dream of owning a house by numerous home loan solutions. Those who are willing to buy a new home or to upgrade the existing one ICICI Bank makes it simpler with low-interest rates.

Loan Name Interest Rate Processing Fee Loan Amount Tenure
ICICI Bank Step Up Home Loans 9.10% - 9.25% 0.5%-1.00% of home loan amount or Rs 1,500 (whichever is higher) maximum Rs 30 crores up to 20 years
Details
Documents Required

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Last 6 months Bank statement showing salary credits, latest Form 16 and Income Tax Returns, Recent 3 months Salary Slips
  • Bank statements for the last 6 months
  • Employment Contract / Appointment Letter in case if the individual is employed for less than a year in the current organization.
  • Processing fee cheque
Benefits

  • Get enhanced eligibility of up to 20%
  • Get maximum loan amount of up to Rs 3 crores
  • Maximum tenure for repayment of the loan is up to 20 years
Eligibility

  • The applicant should be Indian
  • Applicant should be employed and should have a regular source of income
  • The minimum income of the applicant should be Rs 20,000 per month
  • Should be employed in a select corporate as identified by ICICI Bank.
  • The age of the applicant should not be more than 40 years.
  • Those who are already having a home loan cannot avail Step Up Home Loan from ICICI Bank.
Other Details

  • The Step up home loan is funded keeping in mind the growth of the individual's salary on a yearly basis.
  • The loan is exclusively meant for those who do not have any running loan at the time of applying for the loan.
  • The loan repayment schedule is divided into two terms – Initial or Primary term and Secondary or Balance term.
  • The initial period lasts for 3 – 5 years and only interest amount has to be paid during this period.
  • During the secondary or balance term, EMI (both interest and principal amount) has to be paid.
ICICI Bank Home Loan 8.10% - 9.30%, Floating 0.25% of loan amount + applicable taxes (max. ₹11,800), One time fee 75 lakhs 3-30 Years
Details
Documents Required

For Salaried Individuals

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Last 6 months Bank statement showing salary credits, latest Form 16 and Income Tax Returns, Recent 3 months Salary Slips
  • Bank statements for the last 6 months
  • Employment Contract / Appointment Letter in case if the individual is employed for less than a year in the current organization.
  • Processing fee cheque

For Self – Employed Individuals

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Income Tax Returns along with computation of income for the last 3 Assessment Years, Last 3 years Profit and Loss A/C,
  • Balance Sheet with Annexures/Schedules, Last 6 months Current A/C statements of the business and Savings account statement of the individual
  • Bank statements for the last 6 months
  • Processing Fee Cheque
  • Education qualification certificate and Proof of Business existence
Benefits

  • The tenure of the home loan is spread across 30 years
  • The higher loan amount is available
  • Simplified documentation procedure
  • Pre-closure charges are Nil
  • Doorstep services
  • Easy equated monthly instalments available also for women borrower
Eligibility

  • Minimum age of the applicant should be 21 years
  • The entire loan amount has to be repaid at or before the applicant attains 65 years
  • The applicant can either be a salaried employee of self-employed with a regular source of income
  • The co-applicants age should be a minimum of 18 years at the time of submitting the application
Other Details

  • Interest rates are available at both fixed as well as floating rates option.
  • Get the home loan sanctioned before selecting the property.
  • Applicants can opt for fixed interest rates for the first 10 years and then opt either for fixed or floating interest rates till the completion of repayment of loan amount.
  • Get loan tenure of up to 30 years for a home loan with ICICI Bank
  • The processing fee is 0.25% of the loan amount + applicable taxes (maximum of Rs 11,800)
Top Up Loan On Home Loan 9.65% per annum 0 up to Rs 5 crores 20 years
Details
Documents Required

For Salaried Individuals

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Last 6 months Bank statement showing salary credits, latest Form 16 and Income Tax Returns, Recent 3 months Salary Slips
  • Bank statements for the last 6 months
  • Employment Contract / Appointment Letter in case if the individual is employed for less than a year in the current organization.
  • Processing fee cheque

For Self – Employed Individuals

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Income Tax Returns along with computation of income for the last 3 Assessment Years, Last 3 years Profit and Loss A/C,
  • Balance Sheet with Annexures/Schedules, Last 6 months Current A/C statements of the business and Savings account statement of the individual
  • Bank statements for the last 6 months
  • Processing Fee Cheque
  • Education qualification certificate and Proof of Business existence
Benefits

  • The tenure of the home loan is spread over 20 years
  • Simplified documentation procedure
  • Quick Processing
  • Lower EMI
  • Attractive Interest rates
Eligibility

  • Minimum age of the applicant should be 21 years
  • The entire loan amount has to be repaid at or before the applicant attains 65 years
  • The applicant can either be a salaried employee of self-employed with a regular source of income
  • The co-applicants age should be a minimum of 21 years at the time of submitting the application
  • The total EMI amount should not exceed 65% of the borrower's net monthly income
Other Details

  • Get a loan of up to 100% of originally sanctioned home loan
  • The loan can be availed to meet home furnishing, renovating home, repair works at home and so on.
  • Get a loan amount of up to 80% of the market value of the house at the time of sanctioning of home loan.
Mortgage Loan 11.95% per annum 0 up to Rs 1 crore up to 15 years
Details
Documents Required

For Salaried Individuals

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Last 6 months Bank statement showing salary credits, latest Form 16 and Income Tax Returns, Recent 3 months Salary Slips
  • Bank statements for the last 6 months
  • Employment Contract / Appointment Letter in case if the individual is employed for less than a year in the current organization.

For Self – Employed Individuals

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Income Tax Returns along with computation of income for the last 3 Assessment Years, Last 3 years Profit and Loss A/C,
  • Balance Sheet with Annexures/Schedules, Last 6 months Current A/C statements of the business and Savings account statement of the individual
  • Bank statements for the last 6 months
  • Education qualification certificate and Proof of Business existence
Benefits

  • The borrower can either choose for floating or go with fixed interest rates
  • Loan sanction is possible well before the selection of the property
  • Higher loan eligibility
  • Simplified documentation procedure
  • Doorstep services are provided
  • Lower equated monthly instalments
  • Longer tenure to repay the borrowed loan
Eligibility

  • Minimum age of the applicant should be 21 years for both salaried as well as self-employed individuals
  • The entire loan amount has to be repaid at or before the applicant attains 60 years of age in case of salaried and before 65 years in case of self-employed
  • The applicant should have a regular source of income to secure the loan
Other Details

  • The maximum tenure for repayment stands at 15 years
  • The processing fee is fixed at 0.50%
  • Prepayment charges are nil for floating interest rates
  • Foreclosure charges also stand nil under floating interest rates
  • Interest rates on the mortgage loan are 11.95% per annum

Features of ICICI Home Loan

ICICI Bank offers innovative features for the applicants.

Scroll down and take a deep knowledge about the features and its benefits.

Track my loan feature

Track my loan feature is an online application platform which enables you to track your home loan journey and notifies you about your application status no matter where you are. This feature can be accessed from both mobile and desktop from which you can also check Mortgage loan application status just by entering your mobile number and application number.

Benefits of Track my loan feature

  • Get real-time updates on a single home screen
  • Track your loan from login to sanction and track the end-to-end status of your loan
  • Get 24x7 assistance facility to resolve your query.
  • Access track my loan feature on multiple devices like desktop as well as mobile.

Get low EMI

Get low-interest rates and tenure up to 30 years. Get reward points when you apply for ICICI Bank Home Loan EMI auto-debit facility.

Get Step-up loan offer

Get Pradhan Mantri Awas Yojana scheme benefits The scheme aims to fulfil the residential dream for everyone by 2022. ICICI Bank under Pradhan Mantri Awas Yojana provides a Credit Linked Subsidy Scheme. Get interest subsidy scheme up to 2.67 lac with a loan tenure of 20 years.

More Features

  • Avail Internet Banking features and explore smarter banking over 250 services.
  • Get access to ICICI Mobile banking services and track your all the transactions and loan status on the go.
  • Your universal payment wallet is powered by VISA.
  • Get the ATM at your doorstep as ICICI has over 4,850 branches and 15,159 ATMs across India.

Documents required for ICICI Home loan

  • Application form duly signed and attested photograph for both salaried and non-salaried applicants.
  • Identity proof- Aadhar card, PAN Card, Driving License, Passport, Voter id card (for both salaried and non-salaried applicants)
  • Resident proof- Utility bills, PAN Card, Aadhar card, Ration card (for both salaried and non-salaried applicants)
  • Bank statements for last 6 months (for both salaried and non-salaried applicants)
  • Salary slip of last 3 months for the last 3 months (for both salaried applicants only)
  • Processing cheque fee (for both salaried and non-salaried applicants)
  • Form 16/IT returns (for both salaried and non-salaried applicants)
  • Proof of business existence for self-employed professionals and businessman.
  • Education qualification certificate and proof of business existence for self-employed professionals only
  • Last 3 years Income Tax Returns for self-employed professionals and businessman
  • Audited balance sheet and profit loss account for self-employed professionals and businessman

     

ICICI Home loan Eligibility

  • Must have a minimum age of 21 years to a maximum of 60 years (For salaried applicants)
  • Permanent government or companies employee
  • Professionals like Doctor, Engineer, CA, Architects are eligible to avail this loan
  • Must have a minimum age of 21 years to a maximum of 65 years (For professionals and self-employed applicants)

ICICI Home Loan Charges

Loan processing fees and renewal charges- 1% to 2% of the loan amount, Rs. 1500/- (Rs. 2000/- for Mumbai, Delhi & Bangalore), whichever is higher + applicable Goods & Service Tax

Prepayment charges

  • NIL for Home Loans and Home Improvement Loans with a floating rate of interest.
  • 2% plus applicable taxes on principal outstanding on full repayment for Home Loans with a fixed rate of interest.
  • 2% plus applicable taxes on principal outstanding on full repayment for Top-Up loan if the applicant or co-applicant is Non-Individual.
  • 4% plus applicable taxes on principal outstanding where loan is given to Non Individual borrowers or with fixed rate of interest to Individual borrowers.

Late payment charges- 1.5% of the outstanding amount subject to a minimum of Rs. 500/- & Maximum of Rs.5000/-
Repayment mode swap Charge- Rs 500

Document Retrieval Charges- Rs 500

Cheque bounce charges- Rs 500

Statement of Account- NIL

Final prepayment statement- NIL

No due certificate charges- Rs 100

Revalidation of No Objection Certificate- Rs 100

CIBIL Report charges- Rs 50

Conversion charges for home loan

Floating to Floating 0.5% of the principal outstanding+GST
Dual fixed rate to Floating 0.5% of the principal outstanding+GST
Floating to Dual fixed rate of 0.5% of the principal outstanding+GST
Lifetime fixed to floating 1.75% of the principal outstanding+GST

ICICI Home Loan Interest Rate

Home Loan- 8.75%(minimum), 12.00%(maximum), 9.10% (mean)

Non home loan- 9.05% (minimum), 13.20%(maximum), 10.15% (mean)

How to Apply for ICICI Home loan

Online Process

  • Go to the official site of ICICI Bank.
  • Now under the drop-down box of products select Home loan.
  • Now click on apply now.
  • Now on the first page check your eligibility by providing all personal and mandated details.
  • Select the type of employee you are, select your relationship with ICICI Bank, accept the declaration and click on Check eligibility.
  • Now mention your city, name, email id, mobile number and click on get offer.
  • Now offers page will come and you can see the offer you get as per your eligibility criteria.
  • Now complete the application by providing your essential details and click on submit
  • Now upload the required documents and click on submit.
  • A successful message will appear in your registered mobile number and email id and the loan amount will be sanctioned within 15 days.

Offline process

  • Go to the nearest ICICI Bank
  • Meet the ICICI bank loan executive
  • Select your loan type and submit the application form and documents
  • After submission of application form receive the sanction intimation
  • After receiving the sanction information submit your property documents
  • Review your documents and application form from ICICI Bank legal and technical team.
  • Now the confirmation of loan is approved
  • Get your loan disbursed under 15 days.

ICICI Home Loan Calculator

Let us know what is Home Loan EMI?

Equated Monthly Installments or the amount payable per month when an applicant take a certain amount for some period of time on a home loan. EMI estimation relies on three main factors:

  • Home Loan interest rate- The rate charged by the bank for home loan.
  • Home Loan amount- The rupee value of the loan
  • Tenure of Home loan- The time period for which the loan is taken.

How to use ICICI Home Loan EMI Calculator?

  • Go to the ICICI Home Loan page and click on Home Loan EMI Calculator.
  • For the loan amount that you want to take use the slider and set your home loan amount.
  • ICICI offers 8.75%-12.00% interest rates on home loans. The EMI calculator automatically display the EMI with interest rates, you don't have to change the value of interest rate to calculate the Home Loan EMI.
  • For the tenure option use the slider, set the tenure period as per your needs and calculate your monthly EMI. If the tenure of the Home Loan increases the EMI value decreases.

ICICI Home Loan Login

Jump into a world of benefits and offers just with a few taps. Login with your ICICI Username and Password and get latest payment methods, EMI Facility, Manage your statement and bills, Get all updates and offers on your home loan which is specially designed for you. Access all the features and get minimum interest rates on your home with flexible repayment option. No matter where you are just with your ICICI NetBanking Id and Password you can explore benefits and offers anytime anywhere. Scroll down and get to know the benefits of ICICI Home Loan Login and how to use it.

Features

  • Get a convenience method of paying and pay your loan with flexible payment option.
  • Get multi-level security system which will be authenticated by your identity
  • Get transaction alerts and transaction-related authentications
  • Explore a secure and simplified way of transaction

Benefits

  • Get amortization schedule of your loan accounts
  • Get Disbursement schedule of your loan accounts
  • Get Repayment schedule of your loan accounts
  • Get notification on your loan payment due
  • Apply for new loan as per your requirement
  • Applicants can request for Interest Certificate
  • Applicants can request for CFOC Letter
  • Applicants can request for loan Agreement Copy
  • Applicants can request for Foreclosure Statement PL
  • Applicants can Request for Final IT Certificate (Physical)
  • Get your EMI Clearance Status instantly
  • Applicants can request for Re-dispatch of Refund Cheque

How to Login

For existing user

  • Go to the official site of ICICI Bank
  • Click on Login, which is located on the top bar of the page
  • Enter your User Id and Password
  • Click on Login and explore

For New User

  • Go to the official site of ICICI Bank
  • Click on New User, which is located in the top bar of the page.
  • Now click on I want mu User Id, to generate your user Id.
  • After your User Id is generated, click on I want my Password to generate your password
  • Provide your registered email id and mobile number to generate OTP.
  • Enter the OTP on the required box and click on Proceed.
  • On the next page, congratulations message will appear.
  • Now click on Login, enter your generated User Id and Password and explore

ICICI Home Loan Customer Care

Missed call number 8100881008

Email: customer.care@icicibank.com

FAQs

 Q: What is PMAY Credit Linked Subsidy?

A: Pradhan Mantri Awas Yojana(PMAY) is a credit subsidy scheme launched by our honourable Prime Minister Shri Narendra Modi for the economically weaker section, Low Income Group, Middle-Income group(MIG-I and MIG-II) with a vision for housing all by the year 2022. As per the scheme, the interest subsidy will be credited directly to the loan account of the beneficiaries through primary lending institutions (where the borrower secures a loan from) and thus reduced the effective loan amount and also the equated monthly instalment amount (EMI). The Net Present Value or NPV of the interest subsidy will be calculated at a discount rate of 9%.

Q: What are the financial criteria to avail the PMAY housing loan in ICICI bank?

A: The income norms for various categories are listed below:

EWS (Economical Weaker Section) households/individuals with an annual income up to Rs. 3.00 lakh.

LIG (Lower Income Group) households or individuals with an annual income more than Rs. 3.00 lakh and up to Rs. 6.00 lakh.

MIG-I (Middle-Income Group-I) households or individuals with an annual income more than Rs.6.00 lakh and up to Rs.12.00 lakh.

MIG II (Middle-income group-II) households or individuals with an annual income more than Rs12.00 lakh to INR 18.00 lakh.

Q: Are there any charges on prepaying the housing loan in ICICI bank?

A: If the home loan availed on a floating rate of interest, then there is no need to pay prepayment charges. If the loan has been availed under a fixed rate of interest then one has to pay 2% (plus applicable tax) on the outstanding principal amount.

Q: Is there any special concession for women borrowers on a home loan in ICICI bank?

A: Yes, ICICI bank offers special benefits for women borrowers on a home loan. The starting rate of interest is 8.35% to 8.80%. A women borrower has to be the main applicant of the loan or a co-owner in the financed property to avail the following rate of interest:

Floating rate of interest range is between 8.65% to 8.80%

The fixed rate of interest ranges (for 5 years and 10 years) between 8.70% to 8.90%

Full tenure fixed rate of interest ranges between 9.70% to 10.05%

 Q: What are the different types of home loans in ICICI bank?

A: Types of home loans from ICICI bank are listed below:

  • ICICI pre-approved loan
  • Pradhan Mantri Awas Yojana
  • ICICI bank Step-up home loans
  • Loan against property
  • Top up loan on your home loan
  • ICICI NRI home loan

 

 

 

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